Securian Acquires CNLFinancial

May 02, 2006, 1:00 a.m. EDT 1 Min Read

ST. PAUL, Minn. - (05/01/06) -- Securian Financial Group, betterknown as Minnesota Life, announced Monday it has acquiredOneAmerica Financial Group and its CNL Financial Corp. unit thatmanufactures and distributes loan protection coverage throughfinancial institutions. The deal includes some productsmanufactured by OneAmerica's American United Life Insurance Co.unit, based in Indianapolis. Securian said the acquisition is partof its plans to build its distribution through financialinstitutions and the company plans to make CNL the focus of itsproperty-casualty operations. CNL's 1,000 financial institutionclients broadens Securian's client base by 30% to 3,600 creditunions and banks. The deal closed May 1 for an undisclosedamount.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Stress tests

What's next after strong bank stress tests?

While banks will likely increase near-term dividend plans, analysts and investors are more focused on the long-term outlook for capital requirements from regulators.

By Catherine Leffert

9h ago
Digital banking

Academy Bank gives consumers digital budgeting help

The Missouri bank surveyed consumers about what kind of financial management tools they use, then built its My Finance360 tool in response.

By Melinda Huspen

10h ago
Cyber security

GodFather malware hijacks banking apps on Android devices

GodFather malware mimics and manipulates real financial apps on Android devices, exposing sensitive data without user suspicion.

By Carter Pape

June 30
Payments

How Walmart, Amazon and other nonbanks chase stablecoins

As banks consider their strategies, other big names are also considering a role for digital assets.

By John Adams

June 30
Open banking

Fintech group urges court to uphold CFPB's open banking rule

The Financial Technology Association — which had been granted the right to defend the Consumer Financial Protection Bureau's open banking rule after the bureau declined to defend it — filed a motion Sunday to preserve the rule.

By Kate Berry

June 30
Industry News

Financial Services Forum CEO Fromer departing

Kevin Fromer, who has headed the Financial Services Forum since 2017, announced his departure Monday. Fromer transformed the Financial Services Forum to advance the interests of the largest U.S. banks.

By Claire Williams

June 30