Macon Insurer Has New Owner, Hefty Economic Impact

ST. PAUL, Minn., May 1 -- CNL Financial Corp., a Macon-based company that provides loan protection products to consumers through financial institutions, has a new owner. Securian Financial Group of St. Paul, MN announced that its purchase of CNL is complete, effective May 1, 2006.

"Securian is a good parent for CNL," said Chris Greene, President and CEO, CNL Financial Corp. "Securian is committed to the loan protection market, and together we are providing our clients with state-of-the-art products and fast, friendly service." Securian already has a significant business presence in the state, insuring 250,000 Georgians with more than $20 billion of coverage.

Securian plans to grow the CNL operation in place, turning it into a "center of excellence" for the manufacture and distribution of property- casualty loan protection products. That's good news for the Macon area, whose local economy benefits significantly from CNL. The company pumps more than $5 million annually into the region and the state of Georgia in the form of payroll, property taxes, and other fees, including $1 million in corporate income taxes. Though the purchase price for CNL was not disclosed, Securian chairman, president and CEO Robert L. Senkler says it represents a significant investment for the national financial services firm.

"CNL is strategically important to Securian," said Senkler. "The acquisition adds 1,000 financial institutions to our client base. Also, the CNL work force is highly skilled in the areas where we want to grow. This acquisition is good for CNL, Securian, and the Macon area."

CNL Financial Corp. was a subsidiary of OneAmerica Financial Partners, Inc., Indianapolis, IN. Securian bought OneAmerica's entire loan protection manufacturing and distribution operation, including CNL, some products manufactured by American United Life Insurance Company of Indianapolis, and other operations. Loan protection products sold to consumers include mortgage life, credit life and disability, collateral protection insurance, debt protection, and other products.

"Securian has provided innovative products and high-quality service to its financial institution customers since 1957 and CNL has done the same since 1956," said Senkler. "With this acquisition, we better serve all of our clients with a wider array of products, increased distribution, and greater economies of scale."

This is not Securian's first acquisition in the financial institution market. In 2004, Securian bought Allied Solutions, based in Indianapolis and Dallas, TX. That purchase is providing the template for integrating CNL into the Securian enterprise, which is expected to be complete by the end of the year. Allied Solutions President Chris Hilger now oversees Securian's distribution to financial institutions and will be involved in the growth and development of the CNL operation.

Securian Financial Group ( http://www.securian.com/ ) was founded in 1880 and provides financial security for individuals and businesses in the form of insurance, retirement plans and investments. Securian has $520 billion of life insurance in force, $27 billion in assets under management, and a combined work force of more than 5,000 employees and advisors in its St. Paul, MN headquarters and offices across the country. Securian serves more than 7,000,000 individuals in all 50 states and Puerto Rico.

Headquartered in Macon, GA, CNL Financial Corp. subsidiaries include Cherokee National Life Insurance Company; CNL/Insurance America, a property and casualty insurance company; and CNL/Resource Marketing Corporation (REMARC), a managing general underwriter.

NOTE TO EDITORS: To download high-resolution photos of Robert Senkler and Chris Greene, go to hhtp://www.securian.com/News/newsroom/download_center/download_portraits.asp