ManhattanLife to Acquire Standard Life and Casualty

Standard Life is a Salt Lake City-based life insurer that was founded in 1946 and is now licensed in 29 states. It sells products such as final expense arrangements, home health care plans, short-term medical insurance, and critical illness insurance through independent brokers and independent marketing organizations.

The company generates about $12.5 million in annual premium revenue on $37 million in assets.

John Piercey bought the company 41 years ago. He's the chairman of the company, and his son, Brad Piercey, is the president and chief executive officer.

Brad Piercey will continue be Standard Life's president, ManhattanLife says.

David Harris, the chief executive officer of ManhattanLife, said in a comment included in the Standard Life deal announcement that the deal will help ManhattanLife enter new markets.

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