Acquisition will position New York's leading carrier1 of statutory Short-Term Disability insurance (DBL) and Paid Family Leave for long-term growth. Garden City, NY April 09, 2024 --(PR.com)-- ShelterPoint Group, Inc., holding company of ShelterPoint Life Insurance Company and its wholly-owned subsidiary, ShelterPoint Insurance Company (together “ShelterPoint”), agreed to be acquired by Protective Life Insurance Company, the primary subsidiary of Protective Life Corporation (together “Protective”). Protective, the U.S. subsidiary of Dai-ichi Life Holdings, Inc. (“Dai-ichi”; TSE:8750), provides life insurance, annuity and asset protection solutions to more than 14.4 million people. ShelterPoint and Protective are both committed to helping people achieve protection when they need it most – something ShelterPoint has been providing for over 50 years in New York as a leader in statutory Short-Term Disability insurance (“DBL”)2; and, in more recent years, in the form of New York’s state-mandated Paid Family Leave insurance (“PFL”)2 as well as Paid Family and Medical Leave insurance in other states. “As more states are requiring Paid Family and Medical Leave insurance, we’re excited to receive the strong support of Protective on our path to making this essential benefit available in a growing number of states,” said Rich White, Executive Chairman of the Board of ShelterPoint. “This transaction will ring in and accelerate an inspiring new chapter for our company,” adds Leston Welsh, CEO of ShelterPoint. “At the same time, this transaction is expected to empower ShelterPoint to even further enhance its longstanding DBL/PFL capabilities2 that customers have come to trust and rely on when needing to take leave.” “On our continued journey to grow our business and serve more people, we are thrilled to add new services to our portfolio through the acquisition of ShelterPoint,” said Rich Bielen, President & CEO of Protective. “We look forward to welcoming ShelterPoint’s customers and the company’s talented teammates to Protective upon closing.” Once closed, the transaction will mark Protective’s 60th acquisition and the seventh deal completed since Protective became part of Tokyo-based Dai‑ichi in 2015. Dai-ichi, a global leader with over $437 billion in total ...