Integrity Marketing and Hilb Group Make Deals
One acquisition involves Medicare plans; the other, non-major-medical employee benefits.
Integrity Market Group LLC has acquired a Medicare plan marketing organization.
The Dallas-based insurance distributor bought LifeSmart Senior Services Inc of Chicago.
(Related: Integrity Marketing Acquires Las Vegas Firm)
Integrity Marketing has about 1,000 employees, relationships with about 250,000 agents, and about $2.5 billion in annual premium production.
LifeSmart was founded in 2015. It sells life insurance, hospital indemnity insurance and final expense arrangements and as well as Medicare plans.
The companies have not said how much Integrity Marketing is paying for LifeSmart, but Integrity Marketing says Richard Kozlowski, the founder of LifeSmart, will get a stake in Integrity Marketing.
In other insurance deals news, Richmond, Virginia-based Hilb Group has acquired LifePlus Insurance Agency Inc. of Marshfield, Massachusetts.
LifePlus sells group life insurance, dental insurance, disability insurance, worksite benefits and other products to and through municipalities in Massachusetts.
LifePlus employees will continue to work in the current LifePlus offices in Marshfield, and Peter Cook Jr., the agency leader, will continue to run the agency, Hilb says.
Integrity Marketing is controlled by HGGC, a private equity firm based in Palo Alto, California, and Harvest Partners, a private equity firm based in New York.
Hilb is controlled by the Carlyle Group, a private equity firm based in Washington.
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