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CLEARWATER, Fla.--(BUSINESS WIRE)--AmeriLife Group ("AmeriLife" or the "Company"), the nation's premier independent distributor of annuity, life and health insurance products focused on serving the senior market, today announced that it has entered into a definitive agreement to be acquired by J.C. Flowers & Co. LLC ("J.C. Flowers"), a leading private investment firm dedicated to investing in the global financial services industry, from Reservoir Capital Group and Black Diamond Capital Partners. The Company's management has agreed to reinvest a significant portion of their proceeds alongside J.C. Flowers. Terms of the transaction were not disclosed. "We are excited to partner with J.C. Flowers and access the firm's specialized knowledge and deep relationships in the financial services world" AmeriLife develops annuity, life and health insurance products in partnership with its insurance carrier partners and markets these products through its multi-channel distribution network, which includes a career distribution system and over 100,000 independent agents. AmeriLife's insurance distribution platform, along with its third party administration business, generated over $1.5 billion in premiums during 2014 on behalf of its more than 75 insurance carrier partners. "We are excited to partner with J.C. Flowers and access the firm's specialized knowledge and deep relationships in the financial services world," said Timothy O. North, Chief Executive Officer of AmeriLife. "J.C. Flowers has a strong track record of adding considerable value to its financial enterprises, and we believe that will translate into substantial benefits for our agents and their customers. As partners of J.C. Flowers in AmeriLife, Gary Jenkins and I are looking forward to investing in the Company." The saga continues...
Wow. If they only made 5% on that it would be 75 million. They may be the devil but know how to get a lot of insurance sold.