AmeriLife Group, LLC (“AmeriLife”), a national leader in the development, marketing and distribution of life and health insurance, annuities and retirement planning solutions, announced today that it has entered into an agreement to acquire TruChoice Financial Group (“TruChoice”) and its affiliate Inforce Solutions, LLC (“Effective”), of Allianz Life Assurance Company of North America (“Allianz Life”).
Based at Minneapolis, TruChoice is one of the largest Field Marketing Organizations (FMOs) in the financial services industry. The company partners with life insurance and annuity agencies to provide them with the best marketing, sales support and financing solutions in an ever-changing industry. Inforce, a subsidiary of TruChoice, is a national General Brokerage Agency (BGA) specializing in the life insurance market. According to the agreement, the terms of the agreement were not disclosed.
The addition of TruChoice provides a significant opportunity for AmeriLife to expand its annuity production, as well as to expand its reach into the growing life insurance market and forge a closer relationship with Allianz Life.
“Today’s announcement brings together two incredible companies that not only share similar values, but also a deep and unwavering commitment to empowering agents and advisors to help their clients live more financially secure lives.” , said Scott R. PerryCEO of AmeriLife. “We are delighted to welcome Brian Peterson and the talented teams of TruChoice and Inforce at AmeriLife family and its top notch cast.
Under the AmeriLife umbrella, TruChoice and Inforce will have access to a wealth of resources, new products and industry-leading solutions to expand opportunities for their more than 4,000 finance professionals. As AmeriLifeTruChoice will continue to maintain its close relationship with Allianz Life as an unaffiliated FMO as the latter focuses on its core business of creating innovative products that help customers manage their risk in retirement.
“This is an excellent decision for TruChoice that sets us on the path to significant growth in the future,” said Brian PetersonPresident and CEO of TruChoice Financial Group and in force. “I couldn’t be more excited for our employees and the finance professionals we serve. I am convinced AmeriLife is the perfect new partner to help us drive this exciting expansion.
“This sale strengthens Allianz Life’s ability to focus more on our core strengths of providing our independent distribution partners with innovative risk management and retirement solutions for their clients,” said Jasmin Jirélé, President and CEO of Allianz Life. “I am also delighted that this decision allows TruChoice to accelerate its growth as an independent distributor. We look forward to continuing our partnership with TruChoice and expanding our relationship with the AmeriLife group of companies.”
Piper Sandler & Co. acts as exclusive financial advisor to TruChoice Financial Group and Allianz Life Assurance Company of North America in connection with the transaction, which is expected to close on November 30, 2022subject to customary closing conditions.
About TruChoice Financial Group
TruChoice is a dynamic sales and marketing organization and one of the largest distributors of financial services products in the insurance industry, operating as a foundation for the success of the independent financial professionals they serve. For more information, visit TruChoiceFinancial.com and follow TruChoice on Facebook, LinkedIn and Twitter.
About Allianz Life Assurance Company of North America
Allianz Life Assurance Company of North America, one of the FORTUNE 100 Best Companies to Work For® and one of the Ethisphere World’s Most Ethical Companies®, has been delivering on its promise since 1896 by helping Americans achieve their retirement income and protection goals through a variety of annuity and life insurance products. In 2021, Allianz Life added value to its policyholders through distributions of more than $10.6 billion. As a leading provider of fixed index annuities, indexed registered annuities and fixed index universal life insurance, Allianz Life is part of Allianz SE, a global leader in the financial services industry with approximately 150,000 employees in more than 70 countries. Allianz Life is a proud sponsor of Allianz Field® in St. Paul, Minnesotahome of Minnesota United of Major League Soccer.
AmeriLife’s strength lies in its mission: to provide insurance and retirement solutions to help people live longer, healthier lives. In doing so, AmeriLife is recognized as the leader in the development, marketing and distribution of life and health insurance, annuities and retirement planning solutions to improve the lives of pre-retirees and retirees across United States. For more than 50 years, AmeriLife has partnered with top insurance companies to deliver value and quality to customers served through a distribution network of more than 300,000 insurance agents and advisors and more than 100 marketing organizations and insurance agencies nationwide insurance. For more information, visit AmeriLife.com and follow AmeriLife on Facebook and LinkedIn.
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