Kentucky National Insurance Group Acquires Mountain Life Insurance Company
Kentucky National Insurance Group, LLC (parent company of Kentucky Home Life Insurance Company), a Kentucky domiciled insurance company with administrative offices located in Lexington, Kentucky has announced its acquisition of 100% of the common stock of Mountain Life Insurance Company of Alcoa, Tennessee.
Under the terms of the agreement, which will take effect January 1, 2018 pending state regulatory approval, Mountain Life Insurance will continue to offer credit life and credit disability insurance in 6 states throughout the Midwest and South. Kentucky Home Life Insurance will continue its credit life offerings in Kentucky.
In addition to credit life business sold by both parties, Kentucky Home Life plans to begin offering its ordinary life products in the newly acquired states under the Mountain Life name.
Kentucky Home Life Vice-President of Operations, Jeff Breeze says, "We are excited to enter into a relationship that affords us the opportunity to grow our credit life business. Furthermore, we are equally delighted to introduce our ordinary life portfolio to the middle-income market residents in Tennessee, Arkansas, Missouri, Mississippi, Alabama and Georgia."
Kentucky National Insurance Group, LLC (incorporated 2004) and Kentucky Home Life Insurance Company (incorporated 1998) are members of the Forcht Group of Kentucky, which is principally owned by Terry E. Forcht.
Mountain Life Insurance was incorporated in 1972 with principal shareholder Earl R. Whaley & Company and serves more than 325 financial institutions and automobile dealerships throughout Tennessee, Missouri, Arkansas, Georgia, Mississippi and Alabama.