Ameritas Life
Encyclopedia
Ameritas Life Insurance Corp (established in 1887 as Old Line Bankers Life Insurance Company of Nebraska) is a mutual insurance
company. Its headquarters are in Lincoln, Nebraska
.
In 1999, Ameritas Life Insurance Corp merged with Acacia Mutual Holding Company. The latter had been formed in 1997 when Acacia Life Insurance Company of Washington, D.C., converted from a mutual life insurance
company to a stock company wholly owned
by a mutual insurance holding company. The company formed by the merger of the Acacia and Ameritas holding companies was named the Ameritas Acacia Mutual Holding Company.
On January 1, 2006, Ameritas Acacia Mutual Holding Company merged with the Union Central Mutual Holding Company
of Cincinnati, Ohio
, and became the UNIFI Mutual Holding Company
. Union Central Life was originally established as a mutual life insurance company in 1867, and it had formed its own mutual insurance holding company in 2005.
Mutual insurance
A mutual insurance company is an insurance company which has no shareholders but instead is owned entirely by its policyholders. The primary form of financial business set up as a mutual company in the United States has been mutual insurance. Under this idea, what would have been profits are...
company. Its headquarters are in Lincoln, Nebraska
Lincoln, Nebraska
The City of Lincoln is the capital and the second-most populous city of the US state of Nebraska. Lincoln is also the county seat of Lancaster County and the home of the University of Nebraska. Lincoln's 2010 Census population was 258,379....
.
In 1999, Ameritas Life Insurance Corp merged with Acacia Mutual Holding Company. The latter had been formed in 1997 when Acacia Life Insurance Company of Washington, D.C., converted from a mutual life insurance
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
company to a stock company wholly owned
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
by a mutual insurance holding company. The company formed by the merger of the Acacia and Ameritas holding companies was named the Ameritas Acacia Mutual Holding Company.
On January 1, 2006, Ameritas Acacia Mutual Holding Company merged with the Union Central Mutual Holding Company
Union Central Life Insurance Company
Union Central Life Insurance Company was founded in Cincinnati, Ohio in 1867. It was established as a mutual insurance company.Among its founders were Norman Wait Harris, founder of Harris Bank....
of Cincinnati, Ohio
Cincinnati, Ohio
Cincinnati is a city in the U.S. state of Ohio. Cincinnati is the county seat of Hamilton County. Settled in 1788, the city is located to north of the Ohio River at the Ohio-Kentucky border, near Indiana. The population within city limits is 296,943 according to the 2010 census, making it Ohio's...
, and became the UNIFI Mutual Holding Company
UNIFI Companies
As a mutual holding company, UNIFI Mutual Holding Company, commonly referred to as UNIFI Companies is the parent company, which owns Ameritas Holding Company. Ameritas Holding Company, in turn, owns Ameritas Life Insurance Company, First Ameritas Life Insurance Corp...
. Union Central Life was originally established as a mutual life insurance company in 1867, and it had formed its own mutual insurance holding company in 2005.