Dallas-based Integrity Marketing Group, an independent distributor of life and health insurance products, announced a joint venture with Woodstock, Ga.-based AIMC, a national developer and distributor of Medicare Supplement products, to serve the senior market. The terms of the private transaction were not disclosed, but the two said the joint venture would be based in Dallas.
According to Integrity, the deal will create the nation’s “leading independent distributor of life and health insurance products in its market,” employing 250 full-time employees and more than 120,000 independent agents. In addition to Dallas and Woodstock offices, more locations will open in Atlanta, Ga., Norfolk, Neb., and La Crosse, Wis.
The two also announced in a statement that AIMC’s owners will become shareholders at Integrity, and that the combined company is expected to produce more than $650 million in annualized premiums. Integrity says it will help more than 350,000 individuals in the region plan for their life and insurance needs by the end of the year.
Bryan Adams, managing partner of Integrity, said in a statement, “It’s very rare to have two high-growth companies like AIMC and Integrity join to create an organization. We have been close friends with [the AIMC] team for a long time, and we realized that we could build something truly special if we all worked together. By combining the businesses, we have strengthened our position in serving the ever-expanding senior market.”