To direct $0.5m in life insurance premiums to American General Life over the next 12 months
Southwest Financial Group, a subsidiary of The Wyncrest Group, has signed a new agreement with American General Life Companies. Southwest Financial finalized the commitment in October 2009, to direct $0.5m in life insurance premiums to American General Life over the next 12 months.
This is expected to increase sales revenue for Southwest Financial Group by an additional $700,000.
Chris Zaal, president of Southwest Financial Group, said: We are excited to step up and deliver a firm commitment to American General. This is reflective of the strong relationship we have built during the previous three years, and rewards shareholder value for both of our companies.
Reportedly, The Wyncrest plans to grow Southwest Financial Group through discounted acquisitions of competing agencies and applying its IT advantage with a US patent pending automated business method, for managing the acquired client books to improve policy renewal retention and up-selling. The company expects that this strategy will reduce cost of sales by half, as compared to traditional origination methods.