02-10-2025

L&G announces the sale of its US protection business to Meiji Yasuda, and the creation of a long-term strategic partnership, for a valuation of $2.3bn

Exciting news about Banner Life and William Penn

Banner Life Insurance Company and William Penn Life Insurance Company of New York has been acquired by Meiji Yasuda Life Insurance Company. The transaction, subject to regulatory approval, brings together two insurance leaders in their respective markets, to make a significant impact on the insurance industry by protecting the financial futures for more Americans and their families.

Joining forces with Meiji Yasuda, a major Japanese mutual life insurer, marks an exciting new chapter for Banner Life and William Penn. Now backed by Meiji Yasuda, our firm is well positioned to further enhance the term life insurance experience for you and your clients, as we continue our close partnership with you on our shared mission of closing the US life insurance gap. 

You can expect a seamless transition throughout the process. Our entire senior leadership team remains on board and continues to lead our business. Our platforms, products, people and capabilities will stay the same, with the potential to broaden our portfolio in the future.

For more information about the transaction, please check out our FAQ below 

I, along with my leadership team, worked closely with L&G and Meiji Yasuda leadership on this transaction and we’re very excited at the opportunity that lies ahead for Banner Life, William Penn and you – our valued partners.

Thank you for your continued trust and partnership. If you have any questions, please don’t hesitate to reach out to your distribution representative.

Regards,

Mark Holweger,

CEO and President