For Immediate Release
Penn Insurance and Annuity Co. unit Dresher Run LLC acquired Longevity Insurance Co. from Morgan Stanley
March 10, 2016 – Penn Insurance and Annuity Co. unit Dresher Run LLC acquired Longevity Insurance Co. from Morgan Stanley for about $10.4 million, effective November 30th , 2015.
Longevity Insurance previously issued life insurance and long-term care products, which are currently 100% ceded to a third party.
Penn Insurance and Annuity is a subsidiary of Penn Mutual Life Insurance Co.
Merger & Acquisition Services Inc. served as the advisor to Morgan Stanley.
About Merger & Acquisition Services, Inc.
Merger & Acquisition Services, Inc. is a specialist advisory and financial services Firm to the insurance and reinsurance industry, with offices in New York, Connecticut, Georgia & Cayman Islands. Founded in 1999, the Firm and its affiliates provides investment banking and insurance consulting services globally, including; merger & acquisition advisory capital raising, valuations, program placement/fronting, and reinsurance advisory. Merger & Acquisition Capital Services, LLC., a registered broker-dealer and member FINRA / SIPC, is an affiliate of Merger & Acquisition Services, Inc.
To learn more about Merger & Acquisition Services, visit https://maservices.com.