EMC Insurance is selling its ownership interest in EMC National Life Insurance Co. to Avocet Partners, including its interest in EMC National Life Mutual Holding Co.
The sale price was not disclosed. EMC Life had $15.3 billion of life insurance in force as of EMC Insurance’s 2024 annual report. It will undergo an unspecified change in its name.
The good news for Des Moines is that Avocet intends to keep the 80 EMC Life employees, most of whom work in the Des Moines metro, according to a news release from EMC Insurance. The release said that following completion of the transaction, Avocet will adopt “a strategy focused on investing in and significantly growing EMC Life in exciting ways” and “anticipates expanding employment as the business grows.”…