January 6, 2025 Newswires

AmeriLife To Acquire Crump Life Insurance Services

News Direct

AmeriLife Group, LLC (“AmeriLife”), a national organization that develops, markets, and distributes life and health insurance, annuities, and retirement planning solutions, announced today that it has entered into an agreement to acquire Crump Life Insurance Services and Hanleigh Management (collectively “Crump”) from TIH Insurance Holdings, LLC (“TIH”). Per the agreement, terms of the deal were not disclosed.

"We are thrilled to welcome Crump into the AmeriLife family," said Scott R. Perry, chairman and CEO of AmeriLife. "Crump is a leading independent distributor of life insurance and this partnership aligns perfectly with our vision to provide enhanced Wealth solutions for our clients and partners. Crump's exceptional team and relentless dedication to customer satisfaction will further develop our capabilities in the marketplace. Together – through our shared culture and values – we will continue to redefine the standards of service and excellence in our industry.”

"With the acquisition of Crump, we are continuing to transform how we approach Wealth distribution and deliver on our holistic commitment to agents, advisors, and leading financial professionals everywhere," added Mike Vietri, Chief Distribution Officer for AmeriLife Wealth Group. “Crump's breadth and depth of expertise, especially in the life insurance space, will enable us to deliver more comprehensive and integrated solutions and revolutionize how we help individuals and families protect and grow their wealth – no matter their stage of life.”

Crump is one of the largest and most dynamic providers of life insurance and retirement products in the United States. Crump’s expertise spans the institutional/wholesale, IMO, and BGA sectors, and it partners with more than 31,000 financial professionals to deliver a range of holistic solutions including life, annuities, long term care, linked benefit, disability insurance, and other specialty offerings.

“We are excited to join forces with AmeriLife,” said Mike Martini, CEO of Crump. “This highly complementary transaction marks a pivotal moment for our company and demonstrates our commitment to advancing our capabilities and services for our clients and partners. We look forward to leveraging AmeriLife's extensive network and deep resources to better serve the needs of our customers and to drive continued growth in the life insurance market.”

As part of AmeriLife Wealth Group’s fast-growing and innovative distribution platform, Crump joins a distinguished network of affiliated companies who are working together to transform Wealth distribution and sustain the next generation of firms and their financial professionals. Crump will also gain access to new tools and expanded resources required to hone its already best-in-class capabilities and build upon its more than 100 years of success to deliver better, more secure futures for retirees.

Piper Sandler & Co. and Truist Securities are acting as financial advisors and Simpson Thacher & Bartlett LLP served as legal counsel to Crump and TIH in connection with the transaction, which is expected to close in the first quarter of 2025, subject to customary closing conditions. Kirkland & Ellis served as legal counsel and Paul Weiss served as financing legal counsel to AmeriLife.

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About Crump Life Insurance Services

Crump Life Insurance Services is a leading third-party distributor and service provider of insurance and retirement products. Using a holistic approach to insurance planning, Crump distributes a diverse array of insurance products to more than 31,000 financial professionals. With the industry's premier sales and back-office support and technology services, Crump places $13B in annual premiums of life insurance, annuities, long term care, linked benefits, disability, and health products, equaling more than 145,000 insurance policies and $100B in life insurance protection annually. Crump markets under the following brands: Crump, Truist Life Insurance Services, and Tellus. Learn more at Crump.com

About TIH Insurance Holdings

TIH Insurance Holdings, LLC, headquartered in Charlotte, N.C., is a leading Property and Casualty wholesale brokerage and MGA platform. TIH operates over 100 offices with more than 6,500 employees through its specialty wholesale and underwriting insurance businesses. To learn more, visit www.tihinsurance.com.

About AmeriLife

AmeriLife’s strength is its mission: to provide insurance and retirement solutions to help people live longer, healthier lives. AmeriLife develops, markets and distributes life and health insurance, annuities, and retirement planning solutions to enhance the lives of pre-retirees and retirees across the United States. For more than 50 years, AmeriLife has partnered with top insurance carriers to provide value and quality to customers served through a national distribution network of over 300,000 agents and financial professionals and more than 160 marketing organizations and insurance agencies. For more information, visit AmeriLife.com, and follow AmeriLife on Facebook and LinkedIn.