AETNA TO BUY FINANCIAL LIFE
By Adnews Staff
Aetna Life Insurance Company of Canada plans to buy Financial Life Assurance Company of Canada, increasing its life insurance revenues by 68%. The deal is subject to close by the end of the year. Currently, Financial Life is owned by U.S.-based American General Corp., which is selling off all of its foreign subsidiaries and buying U.S. companies to give it a bigger presence in the U.S. Financial Life is focused on business and professional term products. Aetna plans to operate Financial Life as a separate company for the time being. Financial Life does little advertising. When it does, it promotes itself in trade print ads created in-house. Aetna handles its advertising in-house with the help of Cathy Thomas Design & Communications of Toronto.