In its most current intense expansion shift, Integrity Marketing Group is acquiring Annexus Team in what a person sector analyst is contacting “a sport-changer.”
Conditions were not disclosed, but rumors of the impending acquisition exploded on LinkedIn Tuesday. As aspect of the transaction, Ron Shurts, co-founder and CEO of Annexus, will turn out to be a handling associate in Integrity. Preceding Annexus investors, which includes cash managed by Blackstone, will promote their interests as portion of the transaction, Integrity explained in a news release.
The marriage brings together Integrity, a insurance coverage distribution business with ties to 450,000 agents and much more than $20 billion in belongings underneath management, and Annexus, a products design and style and distribution organization with $45 billion in combined revenue and partnerships with some of the greatest organizations in the industry.
“This will be a recreation-changer for Integrity,” explained Sheryl Moore, founder and CEO of Moore Marketplace Intelligence. “This tends to make them an annuity heavyweight.”
Co-started by Shurts and Don Dady in 2006, Annexus has served over 50 percent a million Individuals with their retirement desires, the launch famous. In 2022, Annexus expects to place approximately $7 billion in annuity quality and $150 million in concentrate on existence coverage high quality.
A Dallas-based mostly lifetime, overall health and annuity distributor, Integrity also formed in 2006 and grew swiftly by means of acquisitions.
Annexus is one of the top rated annuity innovators in the enterprise and touts by itself as “the No. 1 unbiased retirement arranging item style and design and distribution company in America.” In the latest months, the firm formulated the Annexus Life time Income Builder annuitization system and signed a significant deal for it with Point out Street World Advisors.
The Income Builder platform paves the way for life time profits choices within employee retirement ideas — a sizeable market place. In-program annuities were being boosted when Congress handed the Location Every Local community Up for Retirement Improvement Act, or Safe Act, in 2019.
The Annexus Retirement Alternatives device is also taking part in an in-approach annuitization challenge with Nationwide.
“Since its founding, Annexus has been the market chief in creating annuity and existence coverage solutions with the optimum degree of services in the industry,” mentioned Integrity CEO Bryan W. Adams. “Joining the Integrity system will give the expert team at Annexus with a comprehensive suite of engineering, sources and assistance to layer on best of their presently outstanding systems and procedures. The partnership will give Integrity access to Annexus’ deep merchandise progress and distribution partnership abilities, which will tremendously boost our mission to assistance far more People get ready for the fantastic times ahead. It’s an ideal match that will elevate the way insurance plan and economic arranging products are formulated and dispersed.”
Integrity promises to be “the nation’s primary unbiased distributor of everyday living and overall health insurance policies products” serving about 10 million Americans. Previous NFL Hall of Fame quarterback Steve Youthful serves as chairman of the board for Integrity, whose day-to-day operations are led by co-founder Adams.
Integrity foreshadowed a ramp-up of distribution by employing Tom Dempsey to be its chief distribution officer in late June. Dempsey came from the Transamerica Economical Network, which is Transamerica’s distribution arm, where he headed a drive of about 60,000 brokers.
The Annexus acquisition is the 2nd significant deal struck by Integrity in two weeks. Past week, Integrity announced a deal to purchase PHP Agency, a subject advertising group based in Addison, Texas.
As section of that acquisition, Patrick Wager-David, founder and CEO of PHP Agency, will come to be a running husband or wife at Integrity. Economical phrases of the acquisition have been not disclosed.
PHP, which stands for “Individuals Encouraging People today,” serves nearly half a million People nationwide by supplying existence and annuity products and solutions as a result of its crew of a lot more than 27,000 agents.
In March 2021, Integrity acquired Brokers Worldwide, which doubled Integrity’s once-a-year paid out quality from $3.5 to $7 billion and gave it a sizeable piece of the annuity market place.
Via Integrity’s system, Annexus will achieve entry to a breadth and depth of proprietary technological know-how and means, the release explained. These incorporate industry-main real-time quoting and enrollment programs, consumer relationship administration program and ongoing item improvement. Integrity companions are supported by a substantial infrastructure that streamlines small business providers and administration. Expert services include locations these types of as Persons & Culture, Technology & Innovation, legal and compliance, and accessibility to Integrity’s earth-class advertising and promoting organization.
“By leveraging our respective strengths, we see unbelievable progress probable for both of those of our corporations,” Shurts claimed in the release. “Carriers, advisors and clientele require the merchandise and solutions we deliver far more than at any time. When it arrives to increasing lives, there is no end line. We’re committed to helping every American delight in a safer and a lot more protected retirement, and partnering with Integrity will aid us amplify and accelerate towards that goal.”
InsuranceNewsNet Senior Editor John Hilton has included small business and other beats in more than 20 many years of everyday journalism. John may be attained at [email protected] Stick to him on Twitter @INNJohnH.
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