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Integrity Marketing Acquires Copeland Group: Deals

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What You Need to Know

  • Private equity-owned Integrity Marketing is still on buying spree.
  • The health insurance arena looks hotter than life and annuities.
  • Genworth is out of Australia.

Private equity-owned Integrity Marketing Group LLC has acquired Copeland Insurance Group.

Integrity Marketing, a Dallas-based insurance market organization, has been buying many other smaller distributors. It has relationships with 340,000 agents.

The Copeland Group is a Longview, Texas-based Medicare plan distributor that was founded by Mel Copeland in 1962. The firm now has about 130 employees and relationships with more than 20,000 agents. The agents have relationships with 120,000 clients and help the Copeland Group generate $200 million in sales per year.

The group distributes a wide range of life, health and property-casualty insurance products.

Copeland has a strong focus on the senior market, and its life and health arm is a major distributor of Medicare plans.

The company offers help with specialized Medicare issues, such as qualifying for the Medicare low-income study, as well as access to Medicare Advantage, Medicare prescription proscription drug plan and Medicare supplement insurance products.

Integrity Marketing is not disclosing terms, but did say Mel and Melissa Copeland, the owners, will become managing partners with Integrity Marketing.

“Mel is a true icon in the insurance industry, and all of our partners in the Integrity network will now have the privilege of benefitting from his extensive wisdom and experience,” Bryan Adams, CEO of Integrity Marketing, said in a statement.

Other Deals

ManhattanLife Assurance Company of America of Houston has acquired Las Vegas-based Western Skies MGU.

ManhattanLife sells many different life and health products, including medical stop-loss insurance, or protection against catastrophic risk for employers’ self-insured health plans.

Western Skies MGU is a national wholesaler and program manager for self-funded medical stop-loss health plans. It will continue to wholesale stop-loss coverage from other insurers, in addition to wholesaling stop-loss coverage from its new parent, ManhattanLife said.

In addition to providing its own stop-loss reinsurance, ManhattanLife will continue wholesaling coverage through Western Skies MGU.

Milliman Inc., a Seattle-based actuarial consulting firm, has acquired McHugh Consulting Resources Inc., a firm that provides insurance-related compliance and regulatory services.. McHugh is based in Doylestown, Pennsylvania.

Genworth Financial Inc.  said it has completed previously announced plans to sell its 52% stake in Genworth Mortgage Insurance Australia Ltd. to outside investors.

Genworth bought control of the business, which was once known as Housing Loans Insurance Corp., in 1997, from the government of Australia, for about $43 million in cash and capital.

The ownership interest sale helped Genworth make a $247 million payment today  AXA S.A., in connection with a promissory note, and it produced $123 million in proceeds for Genworth, the company said.