Torchmark closes on Family Heritage; deal seen as immediately accretive

theflyonthewall.com

Torchmark is pleased to announce that it closed the previously announced purchase of Family Heritage Life Insurance Company of America (Family Heritage), a privately-held supplemental health insurance provider, on November 1, 2012 for approximately $232M, subject to final post-closing adjustments. This transaction is expected to be immediately accretive to net operating earnings per share with minimal impact, if any, on Torchmark's free cash flow available for stock repurchases or the RBC ratios of the insurance subsidiaries.

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