AmeriLife today announced an agreement to acquire Crump Life Insurance Services and Hanleigh Management from TIH Insurance Holdings, LLC.
The terms of the deal were not disclosed.
Amerilife, which specializes in developing, marketing, and distributing life and health insurance, annuities, and retirement planning solutions, has welcomed this development.
Chairman and CEO Scott Perry welcomed Crump into the team, and said: “Crump is a leading independent distributor of life insurance and this partnership aligns perfectly with our vision to provide enhanced Wealth solutions for our clients and partners.”
Perry added that Crump’s team and dedication to customer satisfaction will further develop their capabilities in the marketplace.
"With the acquisition of Crump, we are continuing to transform how we approach Wealth distribution and deliver on our holistic commitment to agents, advisors, and leading financial professionals everywhere," said Amerilife Wealth Group chief distribution officer Mike Vietri.
Vietri said Crump's expertise in the life insurance space will enable the company to deliver more comprehensive and integrated solutions.
Crump is one of the biggest providers of life insurance and retirement products in America working with more than 31,000 financial professionals across the country to offer whole solutions in life, annuities, long term care, linked benefit, disability insurance, and other specialty offerings.
The company puts $13B in annual premiums equal to more than 145,000 insurance policies and $100B in life insurance protection annually.
"This highly complementary transaction marks a pivotal moment for our company and demonstrates our commitment to advancing our capabilities and services for our clients and partners,” said CEO Mike Martini.
The transaction is anticipated to close during the first quarter of 2025 subject to customary closing conditions. Piper Sandler & Co. and Truist Securities will be serving as financial advisors and Crump with legal counsel. Legal counsel for TIH also received representation through Kirkland & Ellis and Paul Weiss.
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