US-based Life and health insurance company Integrity Marketing Group has acquired Tampa-based ASB Financial for an unknown sum.
As part of the acquisition, ASB Financial founder and CEO Frank DeJiulio will become an owner in Integrity.
ASB, which offers financial, Medicare and retirement services, holds nine regional offices. The company expects to produce $40m of annualised paid premium this year.
The acquisition provides the company with access to Integrity’s platform of tools and services and its network platform partners.
Integrity co-founder and CEO Bryan Adams said: “Frank DeJiulio is one of the best mentors and leaders in the insurance business, and his ability to develop people and scale operations have allowed ASB Financial to accelerate their growth year after year.
Additionally, ASB will be able to provide its employees with company ownership, under Integrity’s Employee Ownership Plan.
“As an Integrity partner, he will now reap the benefits of the incredible collaboration with our other partners, which will help his business expand into exciting new areas and achieve new heights.”
Frank DeJiulio said: “I love developing new agents and Integrity provides all the proprietary products and infrastructure needed to take our team to the next level.
“The vast array of partners I now have access to under the Integrity umbrella is incredible. All the partners are willing to open any doors for us and share strategies to grow faster than we can grow on our own. That’s what a success story means to me and I’m more excited about my business than I’ve ever been.”
In May this year, Integrity acquired insurance marketing organisation Equis Financial.