Oregon-based LTC Global, Inc. has acquired American Insurance Agency, Inc. (AIA), a privately held life and health insurance agency based in Lebanon, Tenn. As part of the deal, Mike Beckman, principal of AIA, joined the LTC Global group of companies as regional manager, annuity division.
The deal is LTC Global’s first “strategic expansion of its annuity distribution network,” according to a company report. LTC Global launched its annuity business a little over a year ago, when it acquired Senior WealthCare Insurance Services.
“We are confident that this acquisition will bolster our growing annuity business in both the short term and long term,” said Thomas A. Skiff, CEO of LTC Global.
The acquisition of AIA is part of LTC Global’s plans to “expand its national Long Term Care insurance distribution network.” The company has made seven agency buys since spring of 2007. Other deals include agency acquisitions in Fla., Texas and Calif.