As strong growth continues, AmeriLife adds pair of new acquisitions – Insurance News

AmeriLife is constantly expanding its financial services group with new “partners”.

AmeriLife Group announced two recent transactions that continue the company’s continued growth as a holistic retirement services giant.

Headquartered in Clearwater, Florida, AmeriLife is one of the giants of independent marketing organizations offering health, wealth, workplace benefits and everything in between. AmeriLife continues to attract “partners,” adding 73 companies to its health and wealth services distribution list since 2020.

“We have a great culture that permeates from the top to the bottom,” said Patrick Nichols, senior vice president of corporate development. “Everyone acts like an owner. It’s a great philosophy, which is about ensuring accountability, but also about empowering people to make the right decisions.”

According to the Alliance for Lifetime Income, independent marketing and distribution is big business in a country where four million Americans retire every year. The simple efficiencies achieved through scale-up, combined with federal regulators applying strict rules on annuity sales, make for a highly competitive M&A market.

AmeriLife is growing and competing with other large IMOs such as Integrity Marketing Group’s offices in Dallas, Texas and Simplicity Group in New Jersey.

“We are in an industry where talent can truly stand out from other groups. Therefore, we will continue to look for partners who will bring this strategic culture to AmeriLife,” Nichols said. “Opening new markets will always be key to growth and we will continue to do so.”

New acquisitions

Although AmeriLife is not a blockbuster, it has two May deals that add to its distribution empire:

AmeriLife Marketing Group has added RB Insurance Group, a national marketing organization with over 30 years of experience in the Medicare market, focused on special needs and selling dual eligible plans. Pursuant to the agreement, the terms of the transaction were not disclosed.

The AMG partnership “is designed to streamline solutions and organizational resources” for RB Insurance’s network of more than 450 affiliated brokers licensed in 36 states, according to a news release. AmeriLife acquired RB Insurance Group (RBI) from AMBA, a provider of affinity marketing solutions and additional insurance and benefits.

“The partnership between AMG and RBI brings significant meaning to our company as we join forces to strengthen and protect the health and well-being of the countless people served by the comprehensive Medicare network,” AMG CEO Nick Hildenbrand said in the release. “Together, we will navigate the complexities of the healthcare landscape while providing the highest quality care and support to our valued customers.”

In the second agreement, Saybrus Partners, a life insurance and annuity distributor and affiliate of AmeriLife Group, has entered into an agreement with Meritage Wealth Insurance Advisors, a nationwide point-of-sale life insurance agency offering life insurance, annuity, retirement, planning options senior and business/executive benefits. Pursuant to the agreement, the terms of the transaction were not disclosed.

“Meritage Wealth Insurance Advisors’ experience and success in the life insurance industry, advanced planning expertise and strong operational capabilities make the firm an exciting addition to our business,” said Edward W. Cassidy, managing director of Saybrus Partners, in a press release .

Founded in 2019 by a team of five industry veterans, Meritage has built a “national reputation for expertly designed solutions and consistently exceeding expectations,” the release said. Meritage’s full-service model provides access to advanced case design, deep carrier relationships and product options, as well as back office and underwriting support.

New platforms

With Saybrus, Meritage also becomes part of the rapidly growing AmeriLife Wealth Group, a new wealth distribution platform announced by AmeriLife in January 2023.

The organizational restructuring included the creation of two new, separate distribution groups – Wealth and Health – with an expanded structure “designed to provide more focused growth,” AmeriLife said at the time.

Wealth is led by Mike Vietri, former chief distribution officer of AmeriLife, while Health is led by new chief distribution officer and former president Scotty Elliott, AmeriLife’s Life & Health brokerage division.

So far, the restructuring is going according to plan, Nichols said.

“Our numbers have grown due to our organic positioning, which provides a great basis for making the right decisions not only driven by leadership, but also by separating the health and wealth platform,” he explained. “These two platforms are well-positioned to bring agents and advisors new things they haven’t seen before.”

InsuranceNewsNet senior editor John Hilton has covered business and other issues for more than 20 years of daily journalism. John can be reached at (email protected). Follow him on Twitter @INNJohnH.