Inviva is buying the life insurance subsidiary of Utica National Insurance Group, primarily a property and casualty carrier. Utica National Life Insurance Co. (UticaLIFE) has approximately 45,000 policies that will bring $250 million in invested assets and between $2 million and $4 million in annual income to Inviva.

"The acquisition of UticaLIFE will contribute to Inviva's goals on many fronts, helping to increase our operating scale, prove the power of our platform and immediately improve profitability," said Inviva CEO Laurence Greenberg.

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