If you’re selling a company that markets or distributes life insurance, health insurance or annuities, AmeriLife Group LLC might have the cash to buy it.
The Clearwater, Florida-based life, health and annuity distributor announced today that it has replaced its old credit facilities with new facilities that can provide up to $395 million in financing.
“Together with cash resources on hand, the new credit facilities provide AmeriLife with over $100 million of capital to fund the company’s growth and acquisition strategies,” the company says.
AmeriLife was founded in 1971. It now generates about $3 billion in annual annuity premium revenue.
The company has relationships with about 20 insurance marketing organizations, 75 carriers, and 140,000 agents and brokers.
In February, the company announced that it had acquired Dallas Financial Wholesalers. AmeriLife did not say how much it was paying for DFW, but it reported that Ron Rawlings, the founder, would be keeping a minority interest in the firm.