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Integrity Marketing Buys 4 Distribution Firms: Deals

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What You Need to Know

  • One of the firms Integrity Marketing acquired, Stateline Senior Services, was founded in 1983.
  • Simplicity’s is getting a financial planning firm based in St. Louis.
  • Renaissance Life went shopping in Utah.

Integrity Marketing has announced a flurry of four independent marketing organizations (IMOs) in recent weeks.

Integrity Marketing is a Dallas-based life insurance, annuity and health insurance distribution that has been growing rapidly through acquisitions.

The IMOs acquired are:

  • Stateline Senior Services of Somers, Connecticut, which was founded in 1983.
  • The Fitz Group, an Addison, Texas-based life and annuity seller that was founded in 2004.
  • Golden State Insurance Agency of Carlsbad, California, which was founded in 2011.
  • Modern District Financial of Traverse City, Michigan, which was also founded in 2011.

Integrity Marketing did not say how much it paid for the IMOs.

Simplicity and Sinclair

The Simplicity Group has acquired Sinclair Financial Solutions.

Simplicity is a 4-year-old financial services distributor based in Summit, New Jersey.

Sinclair is a financial products distributor with headquarters in St. Louis.

Erin Sinclair and Donald Schneider, the owners of Sinclair, will become partners at Simplicity, Simplicity says.

Renaissance Life and Dentist Direct

Renaissance Life & Health Insurance Co. of America has agreed to acquire Dentist Direct.

Renaissance Life is an Indianapolis-based issuer of dental, vision, life and disability coverage.

Dentist Direct is a Bountiful, Utah-based dental and vision insurers. The company also has a discount dental plan provider, Direct Access. The company was founded in 2005 and now has about 60,000 enrollees.

Dentist Direct will keep its employees and its own local dentist network, Renaissance Life says.

Deal Completions

Blackstone affiliates have acquired Allstate Life Insurance Company and several Allstate Life subsidiaries from The Allstate Corp. for $4 billion.

Blackstone has acquired a 9.9% equity stake in the life & retirement business at American International for $2.2 billion in cash. Blackstone is renaming the business Everlake Life Insurance.

Ameriprise Financial has acquired the Europe, Middle East and Africa asset management business from BMO Financial Group for the equivalent of about $829 million. Ameriprise is getting about $131 billion in additional assets under management.

Zelis, a health care payments company, has acquired Sapphire Digital, a health care provider selection and health price information data firm.

Zing Health, a Chicago-based Medicare Advantage plan company, has acquired Lasso Healthcare, a medical savings account company based in Harrisburg, Pennsylvania.

(Image: Sergey Nivens/Shutterstock)