Today's Transactions:
Guardian Life Insurance Buys Reed
The target aims to help companies reduce cost and risk related to employee leave plans
The Guardian Life Insurance Company of America purchased Reed Group, a company that helps employers comply with federal and state regulations to get absent employees back to work quickly and safely.
New York-based Guardian is a mutual life insurance company that provides employee benefits.
Reed, headquartered in Westminster, Colo., aims to help its clients reduce the cost and risk of company leave plans and disability programs. Terms of the deal were not disclosed
Cain Brothers & Co. LLC served as Reed’s financial adviser, while DLA Piper served as its legal counsel.
The transaction was announced on the heels of Confie Seguros’ acquiring three insurance brokerages in Florida for an undisclosed price. The targets include Second City Insurance, in Holiday; Insurance of Lauderdale Lakes, in Lauderhill; and Harmony Insurance, in Kissimmee. Confie provides personal lines insurance for the Hispanic community.
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