Milliman Acquires Annuity Price Data Firm: Deals
Integrity Marketing, Hilb and Babyscripts also have deals.
Milliman has acquired Ruark Consulting — a company with data that annuity issuers can use to move toward a more flexible, principles-based approach to establishing annuity reserves.
Milliman is an actuarial consulting firm based in Seattle.
Ruark is based in Simsbury, Connecticut.
Ruark publishes life insurance company experience studies that include data on companies with about $1.1 trillion in annuity account value in place, Milliman says.
The studies deal with matters such as surrenders, partial withdrawals, annuitizations and mortality.
Integrity Marketing and PIPAC
Integrity Marketing has acquired PIPAC Health & Life Insurance Brokerage.
Integrity Marketing is a Dallas-based insurance distributor that has grown rapidly through acquisitions.
PIPAC is an independent marketing organization based in Cedar Falls, Iowa.
Greg Saul, president of PIPAC, and LeaAnn Saul, the company’s vice president, will become managing partners with Integrity.
The deal price was not disclosed.
Hilb and Clark & Lavey Benefits Solutions
The Hilb Group has acquired Clark & Lavey Benefits Solutions.
Hilb is an insurance and benefits distributor based in Richmond, Virginia.
Clark & Lavey is a benefits firm based in Merrimack, New Hampshire. It has a medical captive unit, InCap, that can help employers set up their own health insurers.
Hilb is adding Paul Clark, the Clark & Lavey principal, and agency employees and associates to Hilb’s New England regional operations.
Babyscripts
Babyscripts, a Washington-based company that provides prenatal and postnatal care online, has raised $7.5 million in capital from a group of investors that includes Cigna Ventures.
The company has raised a total of $37 million.
Babyscripts says it will use the new cash to introduce the Babyscripts Virtual Maternity Care program and to give insurers a way to offer the care support services to their insureds.
Most of the investors other than Cigna Ventures have been hospital companies.
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