A rapidly growing life, health and annuity distributor says it has set up an employee ownership plan for its employees.
Integrity Marketing Group LLC says it has provided about $50 million in funding for the plan.
The Dallas-based company says it’s making the plan available to employees who have at least one year of tenure at the company, at no cost to the employees.
Integrity Marketing — which has announced many acquisitions in the past few years — now has about 750 employees. The company says employees of any newly acquired companies will also join the ownership program.
The $50 million funding level amounts to an average of about $67,000 per employee.
Integrity Marketing now has relationships with about 235,000 agents and brokers, and those producers reach about 4 million clients, according to company figures.
The company says that, in 2019, it expects to help insurers place business that will generate about $2 billion in new premiums.