Integrity Marketing has acquired Southern Insurance Group, an insurance marketing organization (IMO) that focuses on distribution Medicare Advantage plans, Medicare supplement insurance policies and Medicare Part D prescription drug plans.
Integrity Marketing is a Dallas-based insurance distributor has been funding from a private equity firm to acquire many other life, health and annuity distributors. It has relationships with 275,000 agents and generates about $3 billion in sales per year, or more than $10,000 in sales per agent, according to company figures..
(Related: Integrity Marketing Acquires Georgia IMO)
Southern Insurance is based in Lawrenceburg, Tennessee.
Emily and Mark Gilliam started the company in 1981. They began specializing in distributing Medicare plans in 2005. Today, the company has relationships with about 6,000 broker agents in 49 states.
The company has been offering products from carriers such as Aetna, American National, Anthem, Bright Health, Cigna, Equitable Life & Casualty, Gerber Life, Guarantee Trust Life, Humana, Kemper, LifeSecure, Medico, Renaissance, SilverScript, Standard Life and Casualty Insurance Company, UnitedHealth, Washington National and Centene’s WellCare unit.
Integrity Marketing is not saying how much it’s paying for Southern Insurance.
Integrity Marketing does say that Emily and Mark Gilliam, and their daughters, Allison Gilliam and Abby Gilliam, will get ownership stakes in Integrity Marketing.
Allison Gilliam, who has been the marketing director at Southern Insurance, will become a managing partner at Integrity Marketing, along with her father. She will oversee day-to-day operations at Southern Insurance.
— Read AmeriLife and Integrity Marketing Make Deals, on ThinkAdvisor.