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Ameritas Life Insurance Corp. (established in 1887 as Old Line Bankers Life Insurance Company of Nebraska) is a
In 1984, Ameritas was mostly selling life insurance, with assets of less than $1 billion, and about 500,000 customers.
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.
In 2005, Ameritas merged with The Union Central Life Insurance Co. of Cincinnati, forming Unifi Mutual Holding Co. In 2006, The Ameritas Acacia Cos. merged with Union Central Life Insurance of Lincoln. In 2014, Union Central, still part of Ameritas, was being sued for allegedly overlooking an agent's ponzi scheme.
Ameritas rebranded in 2012. It also merged at one point with
mutual insurance
A mutual insurance company is an insurance company owned entirely by its policyholders. Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or ...
company. It is owned by Ameritas Mutual Holding Company, headquartered in Lincoln, Nebraska
Lincoln is the capital city of the U.S. state of Nebraska and the county seat of Lancaster County. The city covers with a population of 292,657 in 2021. It is the second-most populous city in Nebraska and the 73rd-largest in the United Sta ...
, United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...
. The company includes Ameritas Mutual Holding Company (AMHC) and Ameritas Holding Company (AHC), as well as Ameritas Life Insurance Corp. of New York.
History
In 1984, Ameritas was mostly selling life insurance, with assets of less than $1 billion, and about 500,000 customers.
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.
In 2005, Ameritas merged with The Union Central Life Insurance Co. of Cincinnati, forming Unifi Mutual Holding Co. In 2006, The Ameritas Acacia Cos. merged with Union Central Life Insurance of Lincoln. In 2014, Union Central, still part of Ameritas, was being sued for allegedly overlooking an agent's ponzi scheme.
Ameritas rebranded in 2012. It also merged at one point with Acacia Life Insurance Company The Acacia Life Insurance Company was established in 1867 as a mutual insurance company, owned by its policyowners. Its headquarters were in Washington, D.C., United States . In 1997, it formed a mutual insurance holding company, Acacia Mutual Hold ...
. In 2013, it changed its name back from Summit Investment Advisors to Ameritas. Also in 2013, Ameritas Life Insurance Corp. sold Acacia Federal Saving Bank to Stifel Bank & Trust
Stifel Financial Corp. is an American multinational independent investment bank and financial services company created under its present name in July 1983 and listed on the New York Stock Exchange on November 24, 1986. Its predecessor company wa ...
. In 2014, Ameritas Employees Credit Union and MembersOwn Credit Union both merged. In September 2014, Ameritas finished a new office building in Forest Park to house around 350 workers, also remodeling a nearby building to house 225 Ameritas employees. Nationally, Ameritas had 2,300 employees at that time. The company began a renovation of its Nebraska location in 2015.
In 2017, a judge ruled that Ameritas had no right to payment from a broker's bond after the broker was caught stealing from clients. Ameritas had sued Federal Life alleging breach of contract. Ameritas partnered with Nelnet
Nelnet, Inc., is a United States-based conglomerate that deals in the administration and repayment of student loans and education financial services. The company is headquartered in Lincoln, Nebraska.
The company provides a range of products t ...
on a student loan repayment program in 2017.
In July 2019 and August 2019, a data breach at Ameritas was reported to possibly expose customer info.
It has the sixth-largest property tax in Lincoln in 2019. Ameritas announced a public finance team, to be responsible for municipal bond financing, in September 2019.
In January 2020, William W. Lester succeeded JoAnn M. Martin as CEO, after Martin became CEO in 2009. Martin became CEO of both Ameritas Mutual Holding Company and Ameritas Holding Company, and chair of Ameritas Life Insurance Corp on January 10. On January 1, 2010, Ameritas Acacia Mutual Holding Company merged with the Union Central Mutual Holding Company of Cincinnati, Ohio
Cincinnati ( ) is a city in the U.S. state of Ohio and the county seat of Hamilton County. Settled in 1788, the city is located at the northern side of the confluence of the Licking and Ohio rivers, the latter of which marks the state line wi ...
, and became the UNIFI 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. UNIFI changed its name to Ameritas Mutual Holding Company. In 2014, Union Central Life and Acacia Life merged into Ameritas Life.
In September 2021, Ameritas Life Insurance Corp. announced the acquisition of BlueStar Retirement Services, Inc. BlueStar Retirement Services operates as a subsidiary of Ameritas.
Ameritas announced in July 2022 that the headquarters on O Street in Lincoln, Nebraska, would undergo renovations. The move was prompted by a shift to a more hybrid work environment, which includes consolidating all Lincoln-based employees at the newly renovated headquarters upon the project's completion. Currently, Ameritas operates out of several locations in the Lincoln metropolitan area.
Products
The company sells life insurance among other insurance products. Ameritas also offers a wide range of financial products and services to individuals, families and businesses.See also
*List of United States insurance companies
This is a list of insurance companies based in the United States. These are companies with a strong national or regional presence having insurance as their primary business.
In 1752, Benjamin Franklin founded the first American insurance company a ...
References
External links
*{{official website, http://www.ameritas.com Companies based in Nebraska Financial services companies established in 1887 Life insurance companies of the United States Mutual insurance companies of the United States 1887 establishments in Nebraska