History

Ameritas Life History
In 1887, there were no local insurance companies in Lincoln, Nebraska. Five local businessmen saw that as an opportunity, and on April 6, 1887, Old Line Bankers Life Insurance Company of Nebraska (Bankers Life) was formed.

During the first half of the 20th century Bankers Life grew from a small company serving a limited Midwest geographical area to one of the nation’s 100 largest insurance companies with operations extending to both coasts.

In the 1980s and 1990s, subsidiaries were formed to offer and underwrite variable insurance products; security and investment products; and dental insurance, individual and low-load life insurance and annuity products in New York.

In 1988, Bankers Life changed its name to Ameritas Life Insurance Corp. (Ameritas Life) to reflect its broad product line and national scope. The American bison was chosen as the new logo. A widely recognized image, it suggests strength and represents a Midwestern heritage and work ethic. In 1998, Ameritas Mutual Insurance Holding Company was formed, then merged in 1999 with Acacia Mutual Holding Corporation to form Ameritas Acacia Mutual Holding Company (The Ameritas Acacia Companies)—the first ever merger of two mutual holding companies. In 2006, Ameritas Acacia Mutual Holding Company merged with Union Central Mutual Holding Company and was renamed UNIFI Mutual Holding Company.

In 2012, UNIFI Mutual Holding Company changed its name to Ameritas Mutual Holding Company.

Ameritas Life of New York History
For more than a quarter of a century, Ameritas Life Insurance Corp. of New York (Ameritas Life of NY) has been committed to providing insurance products and services to the New York market.

Bankers Assurance Company of New York was incorporated to sell dental insurance products in New York in 1984. In 1988, after Bankers Life Nebraska changed its name to Ameritas to reflect its expansion within the broader financial services industry, the Ameritas name also was added in New York, creating Ameritas Bankers Assurance Company of New York.

In 1994, First Ameritas Life Insurance Corp. of New York (First Ameritas Life) was created to offer individual products exclusively in New York. Ameritas Bankers Assurance Company of New York merged with First Ameritas Life in 1996 to offer individual and group policies. First Ameritas Life joined the Life Insurance Council of New York (LICONY) three years later.

In 2006, Standard & Poor’s and A.M. Best established a group rating for Ameritas Life Insurance Corp., First Ameritas Life Insurance Corp. of New York, Acacia Life Insurance Company and The Union Central Life Insurance Company. That same year, a whole life policy, written on First Ameritas Life paper, was introduced in New York.

By approval of mutual holding company members, in 2010 eligible First Ameritas Life policyholders became members of Ameritas Mutual Holding Company, formerly UNIFI Mutual Holding Company.

First Ameritas Life changed its name to Ameritas Life Insurance Corp. of New York in 2011 and moved its office to New York City.

Acacia Life History
Acacia Life Insurance Company began service on March 3,1869, when President Andrew Johnson signed a Congressional act, which chartered the Masonic Mutual Relief Association. The company was created to provide death benefits to widows and orphans of masons. During its first month in business, the company collected $21.70 in “membership fees,” paying its first claim of $204 in December 1869.

In 1922, the company changed its name to Acacia Mutual Life Association, borrowing the symbol of immortality from the acacia tree. The newly named Acacia Mutual Life Insurance Company (Acacia Life) began selling its products to more than just masons in 1932. During the World War II era, Acacia Life liberalized the “war clauses” on most of its life policies, earning it the moniker, the “Serviceman’s Company.”

Acacia Life continued its growth for decades. In response to clients’ needs for a more full service financial organization, Acacia Life purchased Calvert Group, Ltd. (Calvert) in 1984. Today, Calvert is a leader in fixed income and sustainable and responsible investing. In 1985, Acacia Life received Congressional approval for the creation of Acacia Federal Savings Bank. In 1997, Acacia Mutual Holding Corporation was formed. In 1999, Acacia Mutual Holding Corporation merged with Ameritas Mutual Insurance Holding Company to form Ameritas Acacia Mutual Holding Company (The Ameritas Acacia Companies). In 2006, Ameritas Acacia Mutual Holding Company merged with Union Central Mutual Holding Company and was renamed UNIFI Mutual Holding Company. Acacia Life became a wholly owned subsidiary of Ameritas Life in 2009.

In 2012, UNIFI Mutual Holding Company changed its name to Ameritas Mutual Holding Company.

Union Central Life History
Founded in 1867, The Union Central Life Insurance Company (Union Central Life) was the first life insurance company chartered in the state of Ohio. Dr. John Pascal Paoli Peck, a physician turned businessman, started the company with his own funds and stock capitalization from the leaders of thriving Cincinnati businesses, including W.A. Procter and James Gamble of Procter and Gamble. Dr. Peck chose the company’s name in recognition of the newly preserved Union and the company’s central geographic location within the United States at that time.

The booming businesses and population of the Ohio River Valley were its first clientele. The prosperous years of the industrial revolution saw Union Central Life expand its field force across the nation. Clients could now be found from coast to coast. Union Central Life President John Pattison was elected governor of Ohio in 1905. During the Great Depression, the company was able to pay claims and policy cash surrenders without delay, further strengthening its reputation for reliability.

In the following decades, the company responded to increasing demand for an expanded portfolio of financial products and services. In the mid-1960s, Union Central Life entered the disability income insurance business, and today offers products for individuals and businesses. A broker dealer was created in the 1980s, and the focus of the 1990s was bringing leading-edge products to market swiftly, such as variable universal life and second-to-die life insurance.

On January 1, 2006, Union Central Life formed a mutual holding company and in turn merged with Ameritas Acacia Mutual Holding Company, which was renamed UNIFI Mutual Holding Company. In 2009, Union Central Life became a wholly owned subsidiary of Ameritas Life. 

In 2012, UNIFI Mutual Holding Company changed its name to Ameritas Mutual Holding Company.