Kuvare US Holdings Inc. acquired Lincoln, Neb.-based Lincoln Benefit Life Co. and its affiliates.

The deal, completed Dec. 31, 2019, brings Kuvare's pro forma consolidated assets to more than $22 billion and expands its policyholder base to 49 states. Kuvare COO Carlos Sierra was named president of Lincoln Benefit Life.

J.P. Morgan Securities LLC served as financial adviser for Kuvare, while Sidley Austin LLP was the company's legal adviser.

Lincoln Benefit provides life insurance and annuity solutions.