Interstate National, a provider of vehicle service contracts and other F&I products, and its equity partner Golden Gate Capital have completed the acquisition of Florida-based Financial American Insurance Group f/k/a Cardif Insurance.
Financial American develops and administers credit-related insurance products and services marketed through financial institutions, automotive dealers and general agents across all 50 states.
For Interstate National, the transaction represents the continuation of growth and acquisition strategy that has been a key initiative of Interstate National for the past five years.
Interstate National president and CEO Shaun Fetherston said the addition of Financial American allows Interstate to offer the clients the broadest, most comprehensive line of products and services available in the industry today.
Financial American Insurance Group president and CEO Manny Millor said the combination of Interstate National’s marketing and administration capabilities with Financial American’s robust product offering and strong underwriting platform.