Integrity Marketing Group is acquiring control of a West Coast life, health and annuity agency from an owner who’s only 32.
Integrity Marketing is a Dallas-based insurance distributor that has been using private equity money to buy insurance distribution firms. It now has connections with about 275,000 agents. Those agents are on track to generate about $3 billion in new life, health and annuity premium revenue this year, or about $11,000 each.
The agency Integrity Marketing has acquired, McClain Insurance, is based in Hesperia, California, and was founded in 2014. It does business as Family First Life West Coast.
The agency sells final expense life insurance, mortgage protection insurance, indexed annuities and Medicare supplement insurance.
It has relationships with about 1,600 career agents, and those agents expect to generate about $55 million in paid premium this year, or about $34,000 per agent, from serving about 55,000 clients.
Integrity Marketing and McClain Insurance aren’t disclosing the purchase price, but Integrity Marketing says Paul McClain will continue to run the Hesperia agency, and that he’ll become a managing partner at Integrity Marketing.
McClain Insurance previously was a stand-alone company with ties to Family First Life, a company Integrity Marketing bought in March.
— Read AmeriLife and Integrity Marketing Make Deals, on ThinkAdvisor.