Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Running Your Business

Bestow Buys Centurion Life for $2.3M: Deals

Your article was successfully shared with the contacts you provided.

What You Need to Know

  • In other M&A news, Senior Market Sales is using backing from Alliant to add a Medicare plan distributor and a Missouri-based life and health brokerage.
  • Integrity Markting is buying a firm that generates about $1 billion in annual annuity sales.
  • Zelis is acquiring a company that has extensive health care price data.

Bestow, a company that has focused on distributing life insurance online, has closed on the acquisition of a life insurer.

Bestow bought Centurion Life Insurance Co., a life insurer with its official state of domicile in Iowa, from Wells Fargo for $2.3 million, according to an order approving the deal that was posted online by Doug Ommen, Iowa’s insurance commissioner.

Bestow is a Dallas-based company that was founded in 2016 and is backed by investment funds associated with Valar Ventures.

The company has been working to sell life insurance from North American Company for Life and Health online and to help life insurers use its technology to sell their life insurance online.

Centurion Life was established in 1956 in Missouri, as Consumers Life Insurance Co. It is licensed to write insurance in 47 states and the District of Columbia.

Bestow plans to change the name of Centurion Life to Bestow Life Insurance Co. and to operate Bestow Life as an Iowa insurer, with a significant presence in Iowa, Ommen says.

Bestow told Iowa officials it intends to hire an experienced asset manager to manage Bestow Life’s assets.

Senior Market Sales

Senior Market Sales — an Omaha, Nebraska-based insurance market organization owned by Alliant Insurance Services — has acquired two smaller companies.

One is Senior Savings Network, a Medicare plan agency and field marketing organization based in North Charleston, South Carolina.

The other is Thomas Insurance Group, a life and health insurance brokerage based in Cape Girardeau, Missouri.

CEO Christopher Westfall founded Senior Savings Network in 2008 and has helped his firm develop a library of educational YouTube videos on insurance.

Westfall will continue to run the agency, and he was continue to offer training for Medicare supplement insurance agents through, Senior Market Sales says.

Thomas Insurance Group is owned by Charley Tinsley III. Tinsley has been selling insurance since 2002 and acquired Thomas Insurance Group in 2012.

The agency sells products such as group health, Medicare supplement insurance, Medicare Advantage plans, life insurance, long-term care insurance, annuities and individual retirement accounts in 44 states.

Integrity Marketing

Integrity Marketing — a Dallas-based life and health distributor that has grown rapidly through acquisitions — has acquired Aegis Financial, a Denver-based financial marketing organization.

Aegis generates about $1 billion in annuity sales per year through a network of about 600 agents and advisors, Integrity Marketing says.

Darin Lucas, the president of Aegis Financial, and Carl Muehlemeyer, the chief operations officer, will become managing partners at Integrity Marketing, according to Integrity Marketing.


Zelis — a health care payments company based in Bedminster, New Jersey — has agreed to acquire Sapphire Digital, a health care provider data company.

Sapphire Digital was founded in 2007. It runs an online provider directory that offers users access to health care provider price and quality information.

It has relationships with about 50 health plans, benefit plan administrators and self-funded employer health plans.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.