So, have the managers of AmeriLife Group LLC and Integrity Marketing Group LLC gotten bored with using private equity money to acquire other insurance distributors?
AmeriLife announced Tuesday that it has “acquired an interest” in Pinnacle Financial Services — a Warminster, Pennsylvania-based health, life, annuity and long-term care marketing organization.
Integrity Marketing said it has acquired Equis Financial Inc., an Asheville, North-Carolina-based life and health distributor.
The AmeriLife Deal
AmeriLife is a Clearwater, Florida-based life, health and annuity distributor that has backing from Thomas H. Lee Partners L.P., a private equity firm. The company now has relationships with about 150,000 agents and advisors, up from 140,000 in March.
AmeriLife said it’s acquiring the stake in Pinnacle to combine its expertise in distributing Medicare products with Pinnacle’s expertise in marketing other types of insurance and financial products.
Pinnacle was founded in 2001. It now has 45 employees, and locations in Nebraska and Nevada as well as in Pennsylvania.
Kevin Shields, Pinnacle’s founder and president, and Angela Palo, Pinnacle’s executive vice president, will continue to lead Pinnacle from its current offices.