The Dallas-based Integrity Marketing, which is backed by middle-market private equity firm HGGC, distributes life and health insurance products to the Senior Market
Harvest Partners invests in Integrity Marketing Group (Credit Pixabay)
Integrity Marketing Group has secured an undisclosed investment from funds managed by New York-based private equity firm Harvest Partners.
Based in Texas, Integrity Marketing is an independent distributor of life and health insurance products to the senior market.
Its current investors HGGC and the management team will collectively hold a majority stake in the company.
The insurance agency claimed to have grown its earnings by six times and had integrated more than 20 add-on acquisitions since HGGC’s investment in July 2016.
Integrity Marketing co-founder and CEO Bryan Adams said: “We believe Integrity has just begun to tap into its potential and adding an outstanding investor like Harvest Partners alongside HGGC will ensure we have the resources to help as many American seniors as possible through execution of our national partnership-based distribution strategy.”
The company said that it has developed a national agent network to partner for all the leading senior market insurance carriers. Currently, the firm offers insurance products to more than 215,000 independent agents across the US and sells more than $2bn (£1.64bn) in annualised premiums.
Integrity Marketing has a workforce of around 500 employees, who cater to nearly four million clients. The company claims to have helped insurance carriers place more than $2bn (£1.64bn) in new premiums this year.
Harvest partner Steve Carlson said: “The winning culture at Integrity is based on a partnership-first mentality that ensures all stakeholders are aligned.
“We’re proud to be part of their team and believe further investment in technology and talent will position the business to continue its impressive trajectory.”
Recent acquisitions made by Integrity Marketing
Last week, Integrity Marketing acquired American Investment Strategies, an Ohio-based insurance marketing organisation, for an undisclosed price. American Investment Strategies, which serves the Midwest region, provides a range of personal and commercial insurance products for the senior market.
In July, Integrity Marketing reported two acquisitions – that of Senior Insurance Brokers and American Senior Benefits. The former is a Texas-based insurance marketing organisation that operates throughout the Southwest region in the US.
American Senior Benefits, on the other hand, is a career agency distribution network, which is entirely focused on serving the senior market.