Genstar Capital invests in AmeriLife to drive development

Florida-based life and medical health insurance supplier AmeriLife Group has secured funding from personal fairness agency Genstar Capital.

This funding was termed as ‘strategic’, although the precise quantity was not disclosed.

The San Francisco, California-based personal fairness agency will now be an equal investor in Amerilife, together with Thomas H. Lee Companions (THL).

Two years again, an investor group led by THL picked a majority stake in AmeriLife from J.C. Flowers & Co. and different buyers.

THL Monetary Expertise and Companies Group managing director and head Ganesh Rao mentioned: “We look ahead to our continued partnership, and we welcome our companions at Genstar, whose funding will assist speed up AmeriLife’s subsequent stage of development and improvement.”

Topic to customary closing circumstances, the deal is slated to shut within the third quarter of this yr. AmeriLife obtained monetary recommendation from Evercore for the deal.    

AmeriLife has a distribution community of greater than 300,000 insurance coverage brokers and advisers, 50 insurance coverage company areas in addition to over 50 advertising and marketing organisations. The agency serves greater than 5 million customers.

Commenting on the newest transaction, AmeriLife chairman and CEO Scott Perry mentioned: “During the last two years, AmeriLife has quickly grown its affiliate base and invested closely in best-in-class shared sources and assist to gasoline our great natural development.  

“Genstar’s funding will speed up our development and assist us proceed to construct out our platform to present superior assist to our provider companions, our associates and our brokers.”

AmeriLife has been on a shopping for spree lately, which incorporates the acquisition of Senior Market Advisors final yr.

In 2021, AmeriLife additionally strengthened its time period life capabilities with the acquisition of Insurance coverage 360.

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