AmeriLife adds a pair of new acquisitions as strong growth continues

AmeriLife continues to add more "partners" to its financial services group.

By John Hilton

AmeriLife Group announced two recent deals that continue the company’s steady growth as a holistic retirement services juggernaut.

Based in Clearwater, Fla., AmeriLife is among the independent marketing organization giants, with health, wealth and worksite benefit offerings, and everything in between. AmeriLife continues acquiring “partners,” adding 73 companies across its health and wealth distribution roster since 2020.

“We've got a great culture that permeates its way from a top down,” said Patrick Nichols, senior vice president, corporate development. “Everybody acts as an owner. So that's a great philosophy to have, from making sure that there’s an accountability, but also empowering people to make the right decisions.”

Independent marketing and distribution is big business in a country where four million Americans are retiring every year, according to the Alliance for Lifetime Income. The simple efficiencies gained via scaling up, combined with federal regulators pursuing tough annuity sales rules, adds up to a very competitive merger-and-acquisition market.

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

“We're in an industry where talent can really set yourself apart from other groups. So we're going to continue to look for partners that bring that cultural strategic fit to AmeriLife,” Nichols said. “Opening up new markets is always going to be key to growth and we'll continue to do that.”

New acquisitions

While not blockbusters, AmeriLife sewed up a pair of May deals that add to its distribution empire:

AmeriLife Marketing Group added RB Insurance Group, a national marketing organization with over 30 years of experience in the Medicare market concentrating on Special Needs and dual-eligible plan sales. Per the agreement, the terms of the deal were not disclosed.

The AMG partnership “aims to streamline solutions and organizational resources” for RB Insurance’s network of 450-plus affiliated brokers licensed in 36 states, a news release said. AmeriLife acquired RB Insurance Group (RBI) from AMBA, a provider of affinity marketing solutions and supplemental insurance and benefits.

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

In a second deal, Saybrus Partners, a life and annuity distributor and an affiliate of AmeriLife Group, struck a deal with Meritage Wealth Insurance Advisors, a point-of-sale focused, national life insurance general agency that offers life, annuity, retirement, legacy and business/executive benefits planning options. Per the agreement, terms of the deal were not disclosed.

“Meritage Wealth Insurance Advisors’ experience and success in the life insurance industry, sophisticated planning expertise, and strong operational capabilities make the firm an exciting complement to our business,” said Edward W. Cassidy, managing principal of Saybrus Partners, in a news 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 offers access to advanced case design, deep carrier relationships and product options, and back-office and underwriting support.

New platforms

Together with Saybrus, Meritage also becomes part of a fast-growing AmeriLife Wealth Group, a new wealth distribution platform AmeriLife announced in January 2023.

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

Wealth is led by Mike Vietri, former chief distribution officer for AmeriLife, while Health is led by new Chief Distribution Officer and former president of AmeriLife’s Life & Health Brokerage Distribution Scotty Elliott.

So far, the restructuring is working out as planned, Nichols said.

“Our numbers are up from an organic position, which is a great foundation to the right decisions were made with not only leadership, but that separation of health and wealth platform,” he explained. “Those two platforms are well positioned to bring new things to agents and advisors that they've not seen.”

InsuranceNewsNet Senior Editor John Hilton covered business and other beats in more than 20 years of daily journalism. John may be reached at [email protected]. Follow him on Twitter @INNJohnH.

InsuranceNewsNet Senior Editor John Hilton has covered business and other beats in more than 20 years of daily journalism. John may be reached at [email protected]. Follow him on Twitter @INNJohnH.