Bestow to acquire insurance company Centurion
Dallas-based digital life insurance platform Bestow is planning to acquire Centurion Life Insurance Company , an Iowa-based insurer with licensing in 47 states and the District of Columbia.
At the moment, Bestow is a licensed carrier in Texas and it plans on remaining a digital agency selling term life insurance policies issued by North American Company for Life and Health Insurance.
The news follows a $50 million Series B round announced in April that brought its total funding raised to $67.5 million. The company sells insurance online and is planning to work with agents.
Finally, it operates in the space of Ladder, Haven Life, Ethos and Policygenius.
“We have a bold mission at Bestow to make life insurance accessible to everyone, and the Centurion acquisition underscores our commitment to bringing that vision to life. With Bestow’s focus on expanding eligibility and access, we’ve known since the start that becoming a carrier would be a necessary part of our growth strategy. We’re thrilled to build on our momentum with this acquisition to enable more customers to get the life insurance they need.” – Co-founder and CEO of Bestow Melbourne O’Banion.