Integrity Marketing, which was already the largest independent distributor of life and health insurance products in the United States, is now suddenly a major player in annuity distribution as well. The Dallas-based company has acquired Brokers International, which has relationships with about 13,000 life, annuity and investment advisors.
Terms of the deal were not disclosed.
Integrity Marketing CEO Bryan Adams told Think Advisor that the acquisition gives his company a substantial presence in the life insurance and retirement planning markets. Adams said the deal would help his company place $7 billion in new business this year.
Also included in the acquisition are Brokers International's Registered Investment Advisor (RIA) and its full-service broker-dealer platform, Brokers Financial, with more than $1 billion in assets under management.
As part of the deal Brokers International CEO Mark Williams will be named a managing partner with Integrity.
Even prior to the deal, Integrity had grown its footprint. Integrity has made 43 other mergers or acquisitions in the past two years, according to InsuranceNewsNet.
Brokers International has relationships with a slew of major players in the annuity space, including AIG, Allianz,, Lincoln Financial Group, Mutual of Omaha, Reliance Standard, and Sentinel Security Life.
Integrity has relationships with 345,000 insurance agents and other financial professionals and is expected to generate some $3.5 billion in sales this year.
