AmeriLife Group has taken over Senior Market Advisors (SMA), a field marketing organisation (FMO) in the insurance space, for an undisclosed sum.
The deal will enable the firms to better serve their staff, partners, as well as communities.
As a result of the deal, SMA will reinvest $10m in its agency partners to drive the growth of their businesses.
On the other hand, AmeriLife can avail Salesforce-enabled CRM systems to meet the needs of their customers via industry integrations that support real-time data access.
SMA CEO Jeff Pitta said: “This partnership with AmeriLife enables us to reach more agents and agencies and accomplish more than we ever could on our own.”
The distribution network of AmeriLife includes over 200,000 agents, more than 60 insurance agency offices as well as over 35 affiliate locations.
Meanwhile, SMA has expanded its coverage to 43 states and increased its agents and agencies by 60% in the past four years.
AmeriLife chairman and CEO Scott Perry said: “With our national network and SMA’s powerful tools that help agents and agencies put their clients’ well-being first, we’re positioned to make a meaningful difference to the communities we serve.”
Recent AmeriLife M&A activities
The latest deal continues AmeriLife’s growth trajectory.
Last month, the firm snapped up Philadelphia-based independent FMO Senior Resource Group.
As part of the deal, AmeriLife also acquired Philadelphia-based independent insurance agency Senior Family Services and Atlantic City-based bilingual field marketing brokerage firm Right Choice.
Last November, AmeriLife purchased Austin, Texas-based American Benefits Exchange as well as Tucson, Arizona-based Forward Strategies Insurance Brokers.
Earlier in 2020, AmeriLife snapped up The Equita Group, and Senior Healthcare Direct.