MassMutual, a mutual life insurance company, agreed to acquire Great American Life Insurance Company, a property and casualty insurance provider, from American Financial Group, an insurance holding company, for $3.5bn. “This acquisition is an excellent strategic fit for MassMutual that will broaden our product offerings, expand our distribution, and generate additional earnings, allowing us to build a true lifetime income franchise and deliver ongoing value to our policyowners and customers," Roger Crandall, MassMutual Chairman, President and CEO.