Pinnacle Financial Acquires Medicare Plan Marketer
Terms were not disclosed for purchase of Crowe and Associates.
Pinnacle Financial Services Inc., a life and health distributor, has acquired insurance distributor Crowe and Associates..
Pennsylvania-based Pinnacle distributes life insurance, health insurance, annuities and long-term care insurance through agencies in all 50 states. It has about 45 employees. AmeriLife Group LLC of Clearwater, Florida, acquired a large ownership stake in Pinnacle in May.
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Crowe is a Connecticut-based field marketing organization that was founded in 2006 and offers products aimed at older consumers.
Crowe distributes a wide range of products, including life insurance and annuities, but its current focus is on Medicare Advantage, Medicare supplement insurance and Medicare Part D prescription drug plans.
It also runs a Medicare lead program, online quote and comparison sites, and a sales training program.
Payment terms were not disclosed, but the companies say Ed Crowe, president of Crowe and Associates, will become vice president of business development at Pinnacle. He also will continue to be president of Crowe and Associates, the companies said.
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