AmeriLife Group has acquired American Benefits Exchange.
AmeriLife is a Clearwater, Florida-based life, health and annuity distributor that has relationships with about 150,000 agents and advisors.
American Benefits Exchange is a 4-year-old Austin, Texas-based firm that sells products aimed at federal employees, state employees, U.S. Postal Service employees and military personnel. It also sells insurance products at small businesses.
Terms have not been disclosed. However, Brian Pearson, president of American Benefits Exchange, will continue to run the firm and will become a principal with AmeriLife’s life and health brokerage distribution division, the company said in a statement.
In other life, health and annuity deal news:
Insurance Specialist Group, Palo Alto, California, and Boost Health Insurance, Huntington Beach, California, have merged.
Insurance Specialist Group is a national marketing organization that sells health insurance products aimed at individuals and families under age 65. It has relationships with about 40 carriers and about 100 insurance agency call centers.