Integrity Marketing Group, a Dallas-based distributor of life and health insurance, and creator and provider of wealth management and retirement planning solutions, agreed to acquire Annexus, a Scottsdale, Arizona-based insurance and financial product design and distribution company.
As part of the transaction, Ron Shurts, co-founder and CEO of Annexus, will become a managing partner of Integrity and previous Annexus investors, including funds managed by Blackstone, will sell their interests as part of the transaction, Integrity Marketing said in a press release.
Financial terms of the acquisition weren't disclosed.
Annexus develops financial and insurance products — including fixed indexed annuities and indexed universal life insurance policies — for leading insurance companies. Since its founding in 2006, Annexus has served over half a million Americans with their retirement needs.
In 2022, Annexus expects to place approximately $7 billion in annuity premium and $150 million in target life insurance premium.
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