Nyack, July 14 — Presidential Life, a Nyack business that sells life, accident and health insurance and fixed, deferred and immediate annuities to financial service professionals, has agreed to be acquired by Athene Holding Ltd, a Bermuda-based holding company.

Presidential Life’s offices are adjacent to Nyack’s Village Hall at the corner of Main and Broadway in the village. The company was founded in 1965 and has grown from a single storefront office selling selling life insurance and annuity policies in a few nearby counties to supporting a field staff of 15,000 who work in all 50 states. Athene Annuity & Life Insurance Company, a subsidiary of Bermuda-based Athene Holding, will pay $14 a share for Presidential Life — 38 percent premium over Presidential Life’s Friday closing share price of $10.14, according to Bloomberg News.

Read more