AmeriLife Group, a provider of life and health insurance annuities and retirement planning solutions, has received an investment from Genstar Capital, a private equity firm.
Genstar will join AmeriLife’s current private investor, Thomas H. Lee Partners, as an equal investor.
AmeriLife’s mission is to provide insurance and retirement solutions to help people live longer, healthier lives across the US. For more than 50 years, the company has partnered with top insurance carriers to provide value and quality to customers served through a national distribution network of over 300,000 insurance agents and advisors, more than 50 marketing organisations and 50 insurance agency locations.
The partnership between the two private equity firms, AmeriLife said, is testament to its strong growth, and creates a strong foundation for continued nationwide expansion.
Scott R. Perry, chairman and CEO of AmeriLife, said, “Over the last two years, AmeriLife has rapidly grown its affiliate base and invested heavily in best-in-class shared resources and support to fuel our tremendous organic growth.
“Genstar’s investment will accelerate our growth and help us continue to build out our platform to provide superior support to our carrier partners, our affiliates and our agents.”
Ryan Clark, president and managing director of Genstar Capital, added, “AmeriLife has proven that its model is the future of insurance marketing and distribution. Combined with Genstar’s deep expertise in financial services, software and healthcare, and our collective commitment to delivering the data, tools and technology necessary to compete and win in today’s marketplace, we see huge opportunity for AmeriLife and its partners.”
Additional terms of the transaction, which is subject to customary closing conditions, were not disclosed. The transaction is expected to be completed in the third quarter.
Investment in the insurance, and health and life insurance space, remains strong. InsurTech Bluezone recently raised £1.5m in seed funding for its life insurance offering.
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