Integrity Marketing Group, a distributor of life and health insurance products, has agreed to acquire Scott Riddle Agency, a final expense insurance distributor in the US.
As part of the deal, the company’s founder, Scott Riddle, becomes an owner in Integrity, and president Jacque Huggins becomes a Managing Partner of Integrity. Financial terms of the private transaction were not disclosed.
Scott Riddle Agency, headquartered in Waco, Texas, is one of the largest final expense life insurance marketing organizations that distributes through partnering with leading US call centers. The company has helped more than 215,000 Americans plan for their final expense insurance needs, placing $150m of premium, predominantly with the American Amicable Group of Companies, totaling an aggregate death benefit of over $2bn.
Riddle said: “Joining Integrity has brought a new energy to my business and I am very excited about how we can now better serve the organizations that we partner with.
“Our success is due largely to the call centers and agents we work with, and we can now offer them even more services and opportunities to grow and expand their businesses. Integrity has the greatest model in the United States to help agencies help their customers.”
Jacque Huggins said: “We strive to provide the best service and support to our partners every day, and Integrity will enhance our ability to deliver on that promise.”
American Amicable president Joe Dunlap said: “We are very excited for Scott, Jacque and their team to partner with Integrity. Scott Riddle Agency has been our largest Independent Marketing Organization for many years, and this partnership will allow the agency to continue to grow and expand with all of the resources that Integrity brings to the table.”
The combined business further expands the nation’s largest independent marketer of final expense related products with over $175m of new annualized premiums in these products. Scott Riddle Agency will continue to operate nationally under its brand and all employees will remain in their current roles.
Source: Company Press Release