Insurance plan distributor buys Texas benefits company

CLEARWATER — AmeriLife Group LLC, a privately held marketer and distributor of life and health insurance and retirement solutions, has acquired Austin, Texas-based American Benefits Exchange, which specializes in insurance plans for federal, postal and state employees, as well as members of the U.S. Armed Forces and small businesses.

According to a press release, the deal aligns with and reinforces AmeriLife’s strategy of partnering with independent insurance professionals, financial advisors and industry marketing organizations that demonstrate solid foundations for further growth. 

“American Benefits Exchange is a well-rounded marketing company that has made its mark in life, health and annuity distribution, supplementing existing government benefit plans,” AmeriLife Chairman and CEO Scott Perry states in the release. “Our partnership will support American Benefits Exchange’s mission by leveraging a holistic approach to product delivery and expanding the company’s distribution footprint.”

Clearwater-based AmeriLife did around $300 million in sales last year, says Perry, who told the Business Observer the firm is on track to improve that number to $500-$600 million within five years. 

“The American Benefits Exchange team is excited to join the AmeriLife family,” American Benefits Exchange President Brian Pearson states in the release. “Our partnership with AmeriLife brings us access to market-leading life, health and annuity products and best-in-class training and technology tools that will position American Benefits Exchange to grow exponentially while continuing to faithfully serve our clients.” 

Terms of the deal, including acquisition cost, were not disclosed in the release.