MEM Capital LLC, based in Greenwich, Conn., has announced the acquisition of Mountain Life Insurance Company and Kentucky Home Life Insurance Company.
Mountain Life, which is domiciled in Tennessee, and Kentucky Home Life, domiciled in Kentucky, will both maintain their home offices in Lexington, Ky. The companies' executive teams and personnel will also remain in place.
Mountain Life Insurance Company plans to expand its offerings beyond its existing life insurance business by introducing annuity products in the near future.
Jeffrey Breeze (pictured above) will continue to serve as president of both companies, while Benjamin Keslowitz will join as board chairman.
Keslowitz expressed optimism about the acquisition, noting that he looks forward to working with the Lexington team and the future growth of the business.
Mountain Life Insurance Company, with a legacy of over 50 years, will continue to offer its products through independent agents in Alabama, Arizona, Arkansas, Georgia, Indiana, Kentucky, Louisiana, Mississippi, Missouri, Tennessee, and Texas.
Kentucky Home Life Insurance Company, meanwhile, will maintain its focus on providing life insurance through independent agents in Kentucky.
In other M&A news for insurance, brokerage ALKEME recently swooped for San Diego-based Dunhill Marketing & Insurance Services, a move described as part of its plan to diversify its service offerings and reinforce its market presence.
Established in 1992, Dunhill Insurance Services specializes in life insurance and annuities targeted at high-net-worth individuals, including entertainers and athletes. The company is noted for managing exceptionally large insurance policies, often exceeding $100 million in face value.
Meanwhile, Patriot Growth Insurance Services has also announced a new partnership with Harvey Insurance Agency, a second-generation agency based in Pasco, Wash. This marks Patriot’s first partnership in the Pacific Northwest.
Harvey Insurance Agency, founded in 1995 by Randy Harvey, highlighted its growth under the leadership of Randy’s children, Kaleb Harvey and Stacia Gray, who took over the agency in 2017.
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