Florida-based life and health insurance provider AmeriLife Group has secured investment from private equity firm Genstar Capital.

This investment was termed as ‘strategic’, though the exact amount was not disclosed.

The San Francisco, California-based private equity firm will now be an equal investor in Amerilife, along with Thomas H. Lee Partners (THL).

Two years back, an investor group led by THL picked a majority stake in AmeriLife from J.C. Flowers & Co. and other investors.

THL Financial Technology and Services Group managing director and head Ganesh Rao said: “We look forward to our continued partnership, and we welcome our partners at Genstar, whose investment will help accelerate AmeriLife’s next stage of growth and development.”

Subject to customary closing conditions, the deal is slated to close in the third quarter of this year. AmeriLife received financial advice from Evercore for the deal.    

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

AmeriLife has a distribution network of more than 300,000 insurance agents and advisers, 50 insurance agency locations as well as over 50 marketing organisations. The firm serves more than 5 million consumers.

Commenting on the latest transaction, AmeriLife chairman and CEO Scott Perry said: “Over the last two years, AmeriLife has rapidly grown its affiliate base and invested heavily in best-in-class shared resources and support to fuel our tremendous organic growth.  

“Genstar’s investment will accelerate our growth and help us continue to build out our platform to provide superior support to our carrier partners, our affiliates and our agents.”

AmeriLife has been on a buying spree in recent years, which includes the acquisition of Senior Market Advisors last year.

In 2021, AmeriLife also strengthened its term life capabilities with the purchase of Insurance 360.