AmeriLife Acquires a Benefits Firm: Deals
Insurance Specialist Group, Boost Health, iPipeline and Welis have deal news.
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.
(Related: Integrity Marketing Adds a Medicare Plan Distributors
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.
Boost Health is a national marketing organization that focuses mainly on selling health insurance products aimed at people who are eligible for Medicare. It has its own call center and relationships with about 10 other agency call centers.
The companies stated they will market themselves to consumers as “Boost Health Insurance.”
Further, they expect to report about $10 million in earnings before interest, taxes, depreciation and amortization, or EBITDA, for this year.
IPipeline, Exton, Pennsylvania, has acquired Welis, Norwood, Massachusetts.
IPiipeline sells software for companies in the life insurance and financial services sectors. Welis sells life insurance illustration systems.
IPipeline says it will integrate the Welis Ascent system with its own SSG Digital Platform program, and that agents and advisors who use the iPipeline system will be able to use the system to create personalized life illustrations for customers.
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