TAMPA, Fla. — AmeriLife, a Clearwater, Florida, company that develops and distributes life and health insurance and other financial planning services, has acquired a Minnesota-based distributor of insurance products.
The company announced Monday that it has purchased TruChoice Financial Group and its affiliate Inforce Solutions from Allianz Life Insurance Company of North America, headquartered in Minneapolis. The deal, terms of which were not disclosed, is expected to close by the end of November.
TruChoice, including Inforce, has about 170 employees and a network of 4,000 independent financial advisors and broker-dealers. Last year, TruChoice covered $2.34 billion in annuity premiums and $21.8 in total life premiums. The deal will expand AmeriLife’s annuities services.
“Today’s announcement brings together two incredible companies that not only share similar values, but also a deep, unwavering commitment to empowering agents and advisors to help their clients live more financially secure lives,” AmeriLife CEO and chairperson Scott Perry said in a statement.
TruChoice is expected to continue working with Allianz Life as an independent disstributor.
“This is a great move for TruChoice that puts us on a path to significant growth going forward,” TruChoice and Inforce CEO Brian Peterson said in a statement.
