Conseco to Acquire Fortis Long-Term Care Distributor

Conseco has signed an agreement to acquire from Fortis the Associated California State Insurance Agencies Inc. and its sister company, Ardtel Insurance Service Inc. ACSIA and Conseco have a long-standing relationship in the sale of long-term care insurance. The acquisition should strengthen the businesses of both companies. Currently the third largest long-term care career agency organization in the U.S., ACSIA creates additional distribution strength for Conseco, a leading issuer of long-term care insurance. The acquisition is subject to customary conditions and is expected to close within 60 days. Terms of the transaction were not announced.