Protective Life Corporation (NYSE: PL) (“Protective”) today announced that it has received the insurance regulatory approvals required in order for Protective Life Insurance Company to move forward under its agreement with certain subsidiaries of AXA SA (NYSE Euronext Paris:CS) (“AXA”) to acquire MONY Life Insurance Company (“MONY”) and reinsure certain policies of MONY Life Insurance Company of America (“MLOA”). The transaction was previously announced on April 10, 2013.
The Company also announced that its current plan continues to be to close the transaction early in the fourth quarter, subject to the satisfaction and fulfillment of customary closing conditions.
ABOUT PROTECTIVE LIFE CORPORATION
Protective Life Corporation provides financial services through the production, distribution and administration of insurance and investment products throughout the U.S. It has annual revenues of approximately $3.6 billion and as of December 31, 2012 had assets of approximately $57.4 billion.