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ManhattanLife completes acquisition of Union Security for New York expansion
The deal closed in March 2026, giving ManhattanLife a second New York charter and additional underwriting capacity in a tightly held state market.
ManhattanLife has completed its acquisition of Union Security Life Insurance Company of New York from Assurant, securing a second New York charter and a second source of underwriting capacity in the state. Insurance Business said the transaction reinforces the scarcity of carrier capacity in New York for life, annuity, and accident and health lines.
The deal closed in March 2026, and ManhattanLife later made the acquisition public after completing the regulatory review process. A regulatory filing from Union Security dated April 2026 carried the letterhead "A ManhattanLife Company," indicating corporate integration was underway shortly after closing.
For context on Union Security's scale, its year end 2025 statutory filing showed 76,880 policies and certificates in force, total assets of $24.3 million, and premium and annuity considerations of $177,852 for the year, alongside net income of $92,117. The article described the book as modest, but the operational change matters for producers writing New York licensed business.
ManhattanLife plans to run Union Security on its own operations team and systems, and to provide policyholders with access to live customer support as part of the service setup used across its other business lines. David Harris, chief executive officer and chairman, said the second charter marks a milestone reflecting New York's confidence in ManhattanLife's financial stability and long term commitment to policyholders. Tyler Harris, president, said the acquisition supports the company's growth strategy and positions it as an active participant making strategic acquisitions.