US-based Partners Advantage Insurance Services has acquired Independent Life Brokerage in New Jersey, for an undisclosed sum.
As part of the deal, The ILB offices and its employees will be included in the Partners Advantage’s distribution network and will continue to serve its base of financial professionals primarily focused in New York and New Jersey.
ILB founder and CEO Dan Pierson said: "Joining the Partners Advantage family will allow ILB producers and employees to access more products and resources and expand sales into new areas."
According to Partners Advantage, ILB is a life and annuity industry leader in mergers and acquisitions and one of the fastest-growing insurance marketing organizations in the country.
Partners Advantage Insurance Services president James Wong said: "Partners Advantage is looking forward to maintaining ILB’s unique value proposition as a life brokerage with high-level case design, impaired risk and large case underwriting.
"Our teams will combine to provide added strategies and resources to help financial professionals better serve their clients in the life, annuity and health marketplace."
Partners Advantage is a national insurance marketing organization, which has offices across the country.
Its Advantage Division is engaged in selling annuities and life insurance products, while Platinum and Premier Divisions work to enhance insurance marketing organizations and agencies throughout the country.