Sierra Financial Holdings Completes Acquisition of Preferred Security Life Insurance
Deal News | Apr 07, 2025 | Globenewswire
Sierra Financial Holdings, LLC has acquired Preferred Security Life Insurance Company, a Texas-based life insurance carrier, to enhance its portfolio of financial services for the Latino market. Sierra aims to leverage synergies between PSLIC and its existing companies, thereby expanding its offerings in life insurance and mortgage products. This strategic acquisition aligns with Sierra's mission to broaden its reach in the financial sector, particularly among the growing Latino demographic. Key figures on Sierra's board, including John F. Sexton, Craig Haack, and Charles T. Ferdin, emphasized the strategic fit and growth prospects that PSLIC brings to Sierra.
Sectors
- Financial Services
- Insurance
- Mortgage Lending
Geography
- United States – Both Sierra Financial Holdings and Preferred Security Life Insurance Company have operations spanning the U.S., with specific references to Texas and California.
- Texas – Sierra Financial Holdings is headquartered in Houston, Texas, and the acquisition involves a Texas-domiciled company.
Industry
- Financial Services – The article involves Sierra Financial Holdings, a company operating in the financial services sector.
- Insurance – The acquisition involves Preferred Security Life Insurance Company, an insurance carrier.
- Mortgage Lending – Sierra Financial Holdings operates mortgage lending companies, linking the acquisition to the mortgage industry.
Financials
- Not Disclosed – The financial terms of the acquisition were not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sierra Financial Holdings, LLC | Buyer | Company | A Houston-based financial services company focusing on the Latino market. |
| Preferred Security Life Insurance Company | Target Company | Company | A Texas-based life insurance carrier with operations in Colorado. |
| John F. Sexton | Board Member | Person | Managing Partner of Sierra Financial Holdings. |
| Charles T. Ferdin | Board Member | Person | Managing Partner of Sierra Financial Holdings, with a focus on the Latino market. |
| Craig Haack | Board Member | Person | Managing Partner of Sierra Financial Holdings. |