Birmingham-based Protecting Life Corp. will purchase the Atlanta-based Revolos household of corporations, with the deal anticipated to shut within the first quarter of 2021.
Phrases of the deal weren’t disclosed. It’s the 58th acquisition for Protecting Life, the newest in a string of them over the previous few years and the fifth transaction accomplished since Protecting grew to become a part of Dai-ichi Holdings in 2015. Final 12 months, Protecting Life closed on a $1.2 billion acquisition of the life and annuity enterprise of Nice-West Life & Annuity Insurance coverage Co.
“Protective’s Asset Protection Division is an important—and growing—part of our business,” President and CEO Wealthy Bielen stated. “As we continue to navigate the uncertain situation posed by COVID-19, we remain focused on serving more customers. This transaction aligns well with our plans to build on our strong foundation and protect more people in the future by growing both organically and through acquisitions.”
Revolos is a full-service monetary and insurance coverage supplier with 3,000 sellers, brokers, and monetary establishments within the U.S., and has distributed greater than $250 million in underwriting good points and funding earnings
“Protective is a well-known, respected and leading provider of finance and insurance solutions to the markets we serve,” Revolos CEO Wealthy Holland stated.