{"id":21631,"date":"2024-04-02T03:00:09","date_gmt":"2024-04-02T03:00:09","guid":{"rendered":"https:\/\/www.thinkadvisor.com\/2024\/04\/01\/zinnia-closes-on-business-that-includes-annuitynet\/"},"modified":"2024-04-02T03:00:09","modified_gmt":"2024-04-02T03:00:09","slug":"zinnia-closes-on-business-that-includes-annuitynet","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/04\/02\/zinnia-closes-on-business-that-includes-annuitynet\/","title":{"rendered":"Zinnia Closes on Business That Includes AnnuityNet"},"content":{"rendered":"<div class=\"media_block\"><a href=\"https:\/\/feeds.feedblitz.com\/-\/874841639\/0\/thinkadvisor\/\"><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2024\/01\/Puzzle_Merger_Deal_Business_Acquisition_Adobe_640x640.jpg\" class=\"media_thumbnail\"><\/a><\/div>\n<div><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2024\/01\/Puzzle_Merger_Deal_Business_Acquisition_Adobe_640x640.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p id=\"first-para\">A unit of the same company that owns Security Benefit and Policygenius, and that has a big minority stake in the parent of The Hollywood Reporter, is now a top annuity distribution infrastructure player.<\/p>\n<p>Zinnia, a company controlled by Eldridge Industries, said Monday that it has closed on the purchase of&nbsp;AnnuityNet and other life and annuity technology businesses from Ebix.<\/p>\n<p>AnnuityNet was a pioneer in annuity distribution technology. It continues to dominate that market, along with iPipeline and Hexure.<\/p>\n<p>Operations at AnnuityNet and its siblings \u201cwill be uninterrupted for customers and partners, providing continuity for the life insurance and annuity ecosystem,\u201d Zinnia said.<\/p>\n<p>Zinnia has put the 770 employees who came over from Ebix via a new Life and Annuity Exchange Solutions division.<\/p>\n<p><strong>What the deal means:<\/strong>&nbsp;Zinnia said it aims to build \u201cmodern rails\u201d for the insurance industry.<\/p>\n<p>It is part of Eldridge is a Greenwich, Connecticut-based conglomerate.<\/p>\n<p>It bought Security Benefit, an annuity issuer, in 2017, then turned Security Benefit\u2019s technology arm, SE2, into a separate company. SE2 changed its name to Zinnia in 2022.<\/p>\n<p>Eldridge may be best known for its 40%&nbsp;stake in Penske Media, the publisher of Variety, Billboard and The Hollywood Reporter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A unit of the same company that owns Security Benefit and Policygenius, and that has a big minority stake in the parent of The Hollywood Reporter, is now a top annuity distribution infrastructure player.&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":21632,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2024\/04\/zinnia-closes-on-business-that-includes-annuitynet.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/21631"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=21631"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/21631\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/21632"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=21631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=21631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=21631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}