Integrity Marketing to Acquire Big Annuity Distributor
In 2020, Broker International placed $3.5 billion in new annual premiums.
Integrity Marketing Group LLC has bought itself a major position in the U.S. annuity distribution business.
The Dallas-based life and health distributor says it has agreed to acquire Brokers International Ltd. for an undisclosed price.
Bryan Adams, Integrity Marketing CEO, said the deal will give his company a large presence in the life insurance and retirement planning markets.
“Brokers International has built one of the most well-respected brands in the insurance and annuity space, and they do it with class,” Adams said.
The Companies
Integrity Marketing is a Dallas-based company that has relationships with 345,000 insurance agents and other financial professionals. It was on track to generate $3.5 billion in sales this year.
Brokers International is an Urbandale, Iowa-based company that has relationships with about 13,000 life, annuity and investment advisors. In 2020, the company and affiliated financial professionals placed $3.5 billion in new annualized premiums.
Integrity Marketing says acquiring Brokers International should help it place $7 billion in new business this year.
Brokers International has relationships with many annuity issuers, including AIG, Allianz, Athene, F&G, Global Atlantic, Great American, Guggenheim Life and Annuity, Lincoln Financial Group, Mutual of Omaha, OneAmerica, Phoenix, Protective, Reliance Standard, Sagicor and Sentinel Security Life.
The Integrity Marketing deal also includes registered investment advisor and broker-dealer platform operations with about $1 billion in assets under management.
Roger McCarty, the founder of Brokers International, started out in the insurance business, with State Farm Life, in 1955. He started Brokers International in 1983. He died in 2011.
Mark Williams has been Brokers International’s CEO since 2016.
Integrity Marketing says it expects to make Williams a managing partner.
Merit Insurance Services
The Brokers International deal is the second deal Integrity Marketing has announced this month.
Integrity Marketing also has announced the acquisition of Merit Insurance Services — a brokerage general agency based in West Hartford, Connecticut — for an undisclosed price.
Alvin Rosenbluth started Merit in 1957. The BGA now distributes Medicare plans, life insurance, disability insurance, long-term care insurance and fixed annuities.
Jace Rosenbluth, Alvin’s son, has been Merit’s president. He will become a managing partner with Integrity Marketing.