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