Integrity Marketing Group, a distributor of life and health insurance products in the US, has wrapped up the acquisition of Insurance Marketing Group (IMG), a firm which sells life and health insurance to the senior market.
Established in 1991, IMG serves customers on the East Coast of the US. It wrote more than $25m of new life, health and long-term care premiums in 2017.
Integrity expects that the integrated business will produce more than $725m in annualised premiums besides boosting its national presence in the Northeast.
Under the terms of the deal, all IMG’s staff will maintain their current roles with the company and will continue to operate under the IMG brand.
IMG president Steven Bugg said: “We have worked with Integrity for a long time and view this is an exciting opportunity for us to grow by gaining access to their carrier contracts, product diversity and industry-leading product development initiatives.
“Integrity also has the technology and marketing systems that will help IMG agents take their business to the next level.”
Integrity co-founder and managing partner Bryan Adams said: “Steven has built an incredible business and we are excited to partner with him and the great team at IMG.
“This acquisition gives us a stronger regional footprint in the densely populated Northeast, and fits well into our strategic plan of growing nationally by better serving agents in their local markets.”
Financial terms of the deal were not disclosed.