Genstar Buys Stake in AmeriLife From Thomas H. Lee Partners (1)

Buyout firm Genstar Capital agreed to acquire a stake in AmeriLife Group, a life and health-insurance provider, from Thomas H. Lee Partners, according to a statement reviewed by Bloomberg News.

The deal values the company at more than $3 billion, including debt, according to people familiar with the matter who asked to not be identified because the terms aren’t public. Genstar will become an equal investor alongside T.H. Lee as part of the deal, which is slated to close in the third quarter, the companies said.

Representatives for Genstar, AmeriLife and T.H. Lee declined to comment on the ...