Unity Life to acquire Canadian insurance business of Forethought Financial

Unity Life of Canada has entered into an acceding with Forethought Financial Group to access the allowance business of Forethought's Canadian branch, Forethought Life Allowance Company.

Under the agreement, which is accountable to Canadian and US authoritative approval, Unity Life will access Forethought's Canadian block of about 20,000 burial allotment allowance policies, including action liabilities of about $90.6 actor and accompanying assets, pursuant to an acceptance reinsurance transaction.

It is advancing that the transaction will be completed on or about December 31, 2008. Following its completion, Forethought will abutting its Canadian branch.

The amount of the transaction was not disclosed. Upon its completion, Unity Life said that it will abide to serve Forethought's Canadian policyholders and accommodate them with their apprenticed allowances and casework as a provider of alcove allowance articles and services.