Welcome to our dedicated page for Vericity news (Ticker: VERY), a resource for investors and traders seeking the latest updates and insights on Vericity stock.
Vericity Inc (NASDAQ: VERY) delivers innovative life insurance solutions through digital-first underwriting and AI-driven processes. This news hub provides investors and industry observers with essential updates on the company’s strategic initiatives, financial performance, and technological advancements.
Access real-time announcements including quarterly earnings, product launches, leadership updates, and regulatory developments. Our curated collection ensures you stay informed about VERY’s market positioning in the evolving insurance technology sector.
Key coverage areas include digital underwriting innovations, consumer accessibility initiatives, and strategic partnerships shaping the future of life insurance. Bookmark this page for streamlined access to press releases and analysis on VERY’s unique approach to middle-market insurance solutions.
iA Financial Group has completed the acquisition of Vericity for $170 million in an all-cash deal. Vericity stockholders will receive $11.43 per share. The agreement, formalized on October 3, 2023, involves iA American Holdings, a subsidiary of iA Financial acquiring all outstanding common stock of Vericity. CEO James Hohmann highlighted the strategic benefits, including expanded capabilities for Fidelity Life and eFinancial, aimed at making life insurance more accessible. Vericity was previously majority-owned by J.C. Flowers & Co. Following the acquisition, Vericity's shares have ceased trading on NASDAQ. Raymond James Financial served as the financial advisor, and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor for the transaction.
J.C. Flowers, a global private investment firm, has completed the sale of Vericity to iA American Holdings for approximately $170 million. The transaction was finalized under a merger agreement from October 3, 2023, with iA acquiring all issued and outstanding common stock of Vericity at $11.43 per share. Vericity, known for its direct-to-consumer life insurance solutions, has been transformed under J.C. Flowers' ownership, leveraging AI and data analytics. This sale marks a significant milestone for both Vericity and J.C. Flowers, positioning Vericity for future growth under iA's ownership.
Vericity, Inc. (NASDAQ: VERY) announces the appointment of Melissa Balsan as Executive Vice President and Chief Marketing Officer, effective immediately. She succeeds Laura Zimmerman, who is retiring in April 2023. Balsan brings extensive experience in direct-to-consumer marketing from her previous roles, including CMO at GoHealth. Her responsibilities include leading integrated marketing strategies for eFinancial and Fidelity Life, with a focus on enhancing digital marketing capabilities and overall customer experience. Zimmerman will assist during the transition before her retirement.
Progressive Insurance and Fidelity Life have launched RAPIDecision Life One℠, a one-year term life insurance product specifically aimed at first-time buyers. This policy enables quick online quotes with no medical exam required, starting at $7 per month for coverage options from $50,000 to $200,000. The initiative targets younger consumers desiring affordable coverage without long-term commitment, allowing beneficiaries to cover essential costs.
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