Skip to main content

Federal Life Insurance Company Announces Acquisition of Texas Service Life Insurance Company, Signaling a New Era in Preneed Insurance

Written by Customer Service on . Posted in Mergers And Acquisitions.

AUSTIN, Texas, June 04, 2025 (GLOBE NEWSWIRE) —  Federal Life Insurance Company has completed the acquisition of Texas Service Life Insurance Company, a leader in preneed insurance, marking a bold step forward for the industry.

This strategic move underscores Federal Life’s commitment to expanding growth pathways and forward-thinking solutions that empower families to plan with confidence.

With an A- (Excellent) rating from AM Best, and backed by leading investment firm, Bain Capital, Federal Life is in a strong financial position to collaboratively build a new future for preneed insurance.

“This is more than an acquisition, it’s a signal to the market that preneed is an essential product for families and we believe the market is underserved,” said Knut Olson, CEO of Federal Life with over 20 years of experience in the insurance industry. “We are reimagining how families prepare for the future by delivering exceptional service and innovative opportunities to access preplanning. Our team is ready to push boundaries, drive industry change, and ensure families receive the support they deserve.”

Following the acquisition, George Wise steps in as President of Texas Service Life, leading the charge toward a national expansion strategy that prioritizes accessibility, trust, and cutting-edge financial security for families across the country.

“We are evolving with purpose, ready to strengthen and scale a business designed to meet the ever-changing needs of families everywhere,” Wise stated. “The future of preneed planning is here, and we’re shaping it with fresh ideas, dynamic solutions, and a commitment to delivering lasting value.”

Federal Life and Texas Service Life are committed to building better products, exceeding service expectations, and helping funeral homes and families evolve in an ever-changing world. Together, they embody a more creative, dynamic, future-forward vision for preneed insurance.

About Federal Life Insurance Company
Federal Life Insurance Company is shaping the future of insurance with innovative solutions designed to protect individuals and families at every stage of life. Rooted in financial strength and stability, Federal Life is committed to delivering reliable accident & health and life products that evolve with its clients’ changing needs. As the company expands its reach and enhances its offerings, the focus remains on providing trusted, forward-thinking coverage that empowers financial security for generations to come.

About Texas Service Life Insurance Company
Texas Service Life Insurance Company has been serving customers since 1985. With a proven track record in the industry and a robust financial foundation, Texas Service Life consistently delivers the dependability families require when planning their insurance arrangements. Family1® is a Registered Trademark of Texas Service Life Insurance Company, Austin, TX.

Media Contact:
Jessica Grann
Chief Marketing and Culture Officer
Federal Life Insurance Company
jgrann@federallife.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.