Conseco Inc., a fast-growing financial services company in Carmel, Inc., said it ha completed its acquisition of the Statesman Group, an Iowa-based underwriter of annuities and life insurance.

The purchase of the $4.8 billion-asset insurer expands Conseco's presence in the retirement savings market.

Statesman sells its products through 27,000 independent insurance agents insurance brokers, and financial institutions.

In June, Conseco announced plans to acquire Kemper Corp., the mutual fund and investment management firm based in Long Grove, Ill.

-- Debra Cope

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