AmeriLife to Acquire Crump Life Insurance Services
Deal News | Jan 06, 2025 | Stone Point Capital LLC
AmeriLife Group, LLC, a prominent entity in life and health insurance, as well as retirement planning solutions, has announced a definitive agreement to acquire Crump Life Insurance Services and Hanleigh Management from TIH Insurance Holdings, LLC. The acquisition aims to enhance AmeriLife's market presence and capabilities in insurance distribution by incorporating Crump's expertise in the field. Crump, recognized as one of the leading independent distributors of life insurance in the U.S., boasts an extensive network of over 31,000 financial professionals and brings $13 billion in annual premiums to the table. The move aligns with AmeriLife's strategy to provide integrated wealth solutions and expand its innovative distribution platform. Financial advisory for the transaction was provided by Piper Sandler & Co., and Truist Securities, with legal counsel from Simpson Thacher & Bartlett LLP for Crump and TIH. The transaction is set to close in the first quarter of 2025, subject to customary conditions.
Sectors
- Insurance
- Financial Advisory
Geography
- United States – Both AmeriLife and Crump Life Insurance Services operate extensively in the U.S, and the deal is set within the U.S. insurance market context.
Industry
- Insurance – The article discusses AmeriLife's acquisition of Crump Life Insurance Services, both of which are significant players in the life and health insurance market.
- Financial Advisory – Piper Sandler & Co. and Truist Securities are mentioned as financial advisors for the deal, indicating their role in the financial advisory industry.
Financials
- Undisclosed – The financial terms of the acquisition were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| AmeriLife Group, LLC | Acquiring Company | Company | AmeriLife develops and markets life and health insurance, annuities, and retirement planning solutions across the United States. |
| Crump Life Insurance Services | Target Company | Company | Crump is a major distributor of life insurance and retirement products in the United States. |
| TIH Insurance Holdings, LLC | Selling Company | Company | TIH is a property and casualty wholesale brokerage and MGA platform based in Charlotte, NC. |
| Stone Point Capital LLC | PE Firm | Company | The private equity firm involved in the acquisition process. |
| Piper Sandler & Co. | Financial Advisor | Company | Acted as financial advisor for Crump and TIH in the transaction. |
| Truist Securities | Financial Advisor | Company | Served as financial advisor together with Piper Sandler & Co. |
| Simpson Thacher & Bartlett LLP | Legal Counsel | Company | Provided legal counsel to Crump and TIH. |
| Kirkland & Ellis | Legal Counsel | Company | Provided legal counsel to AmeriLife. |
| Paul Weiss | Legal Counsel | Company | Served as financing legal counsel to AmeriLife. |