Independent life and health insurance distributor Integrity Marketing Group is set to add another company to its fold, following two acquisitions earlier this year.
The company has entered into a definitive agreement to acquire Agent Service Connection in Sarasota, FL. As part of the acquisition, Agent Service Connection founder and president Alan Town will become an owner in Integrity.
As part of the transaction, Agent Service Connection will continue to operate nationally under its existing brand. All current employees will also stay in their current roles.
Agent Service Connection is one of the country’s leading final expense insurance distributors, with over 19,000 appointed agents throughout the US. A release said that the firm has helped more than 300,000 Americans plan for final expense insurance needs and has placed over $200 million of premium with its leading carrier, Columbian Life Insurance Company, with an aggregate death benefit of over $2 billion.
“We are thrilled for Alan and his entire team to partner with Integrity,” commented Columbian president and CEO Michael Fosbury. “Alan helped us enter into the final expense market in 2000 and we’re excited to expand our relationship by gaining access to Integrity’s vast network of independent agents and agencies.”
A release claimed that the transaction would result in the nation’s largest independent final expense marketing organization, with nearly $175 million of annualized premiums in final expense-related products.
“I have been incredibly impressed with the tremendous growth of Integrity Marketing Group over the past few years under Bryan Adams’ leadership,” said Town. “There is strength in numbers and when great minds get together, amazing things happen. This merger ensures a succession solution that will make Agent Service Connection flourish far into the future.”
Terms of the transaction were not disclosed.
