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CEO: Protective Life out of M&A market — for now

Written by Jasir Jawaid

Protective Life Corp. is currently focused on closing the acquisition of MONY Life Insurance Co. rather than looking to other deals, Chairman, President and CEO John Johns said on a May 7 quarterly earnings conference call.

Johns made the comments during the call's question-and-answer session, when management was asked how long the MONY deal will keep Protective Life out of the M&A market.

"We're out of the [M&A] market now, and we really are very focused on getting this transaction closed and establishing the earnings pattern that we expect from it, before we go back to the M&A drawing board," the CEO responded.

The company has held preliminary meetings with regulators and met with MONY employees, and it believes the transaction is proceeding as planned.

This article was published by S&P Global Market Intelligence on the S&P Capital IQ Pro platform.


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