A large senior products distributor has completed the acquisition of senior products distributor based in the Midwest.
Integrity Marketing Group LLC of Dallas says it has closed on a deal for American Senior Benefits LLC of Olathe, Kansas.
(Related: Integrity Marketing Buys Again)
Integrity Marketing has used acquisitions to create a company with ties to about 200,000 independent agents, up from about 140,000 agents at the end of 2018. The company says its agents will help insurers add enough new business this year to generate about $1.5 billion in annual premiums.
American Senior Benefits was founded in 2005 and now has relationships with about 1,500 career agents. The agents sell Medicare Advantage plans, Medicare supplement insurance, life insurance, annuities, long-term care insurance and other products aimed at older consumers.
The company’s agents will place enough new business this year to generate about $500 million in annual insurance premiums, according to Integrity Marketing.
American Senior Benefits has one of the largest career agent distribution networks now in operation, according to Integrity Marketing.
Integrity Marketing is not disclosing the price of the deal or other terms, but it says the former owners of American Senior Benefits, Jim Sweeney and Clay LeGeyt, have received a stake in Integrity Marketing.
Bryan Adams, Integrity Marketing’s chief executive officer, said in a statement that the American Senior Benefits deal will combine two of the largest organizations in the senior market.
— Read Integrity Marketing Acquires Senior Select, on ThinkAdvisor.