Standard Insurance Company Transfers Annuity Business to Pacific Guardian Life

Standard Insurance Company, widely recognized as The Standard, has reached an agreement to transfer its individual annuities business to Pacific Guardian Life. Both entities are subsidiaries of Meiji Yasuda Life Insurance Company. The deal is set to finalize in early 2027, subject to regulatory compliance and completion of standard procedures.

Pacific Guardian Life, established in 1961, stands as Hawai’i's largest life insurance provider and a key player in Temporary Disability Insurance and fixed annuities nationwide. The Standard is a leading provider of workplace benefits within the U.S. According to Dan McMillan, President and CEO of The Standard, "This transaction with our affiliate Pacific Guardian Life uniquely accelerates the business strategy and strategic focus of each company."

Nobutaka Yagi, Board Chair, President and CEO of Pacific Guardian Life, expressed enthusiasm about the acquisition, stating, "We are excited to bring this scale and the talented employees of The Standard to our annuities operation." With the deal's closure, Pacific Guardian Life will inherit The Standard's individual annuities business, including its workforce and distribution networks, while initially maintaining The Standard brand for new annuity sales.