Penn MutualLife Insurance Co. has agreed to merge with

Vantis Life will become a wholly owned affiliate of PennMutual. The companies will continue to operate under their current brands withtheir management teams and workforces.

The deal will allow Penn Mutual to provide its lifeinsurance and annuity products through Vantis Life's direct-to-consumer andbank channels. Vantis Life has distribution agreements with more than 150 banksand credit unions, including large super-regional and regional banks, and afootprint across 45 states with more than 10,000 branch locations.