Humana divests 2 business lines to Texas insurer

Morgan Haefner -

Houston-based ManhattanLife Assurance Company of America signed a definitive agreement to acquire Humana's workplace voluntary benefits and financial protection plan business lines.

The two business lines operate under Humana's wholly owned subsidiary Kanawha Insurance Company. The lines will add to MAC's life, health, annuities and Medicare supplement products.

The financial terms of the transaction were not disclosed.

Humana is involved in several other announced and speculated transactions. Retail giant Walmart is in preliminary talks with Humana about developing a closer partnership, and one possibility is Walmart acquiring Humana, people familiar with the matter told The Wall Street Journal in late March. Humana and two equity firms are also in the process of purchasing Louisville, Ky.-based Kindred Healthcare and hospice operator Curo Health Services, based in Mooresville, N.C.

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