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US Alliance unit enters coinsurance agreement

US Alliance Corp.'s subsidiary US Alliance Life & Security Co. has entered a coinsurance agreement with American Life & Security Co. of Nebraska.

The transaction resulted in US Alliance Life & Security assuming financial responsibility for 1,213 policies in South Dakota and Wyoming.

The agreement will increase the assets of US Alliance Life & Security by about $7 million and result in an annual premium increase of more than $900,000 in 2018, the company said.