AmeriLife announced this week that it has entered into an agreement to acquire TruChoice Financial Group and its affiliate Inforce Solutions, LLC, from Allianz Life Insurance Company of North America.
Headquartered in Minneapolis, TruChoice is one of the largest field marketing organizations (FMO) in the financial services industry. The company partners with life and annuities agencies to provide them with best-in-class marketing, business support and financial solutions in an ever-changing industry. Inforce, an affiliate of TruChoice, is a national brokerage general agency (BGA) focused in the life insurance market. Per the agreement, terms of the deal were not disclosed.
The addition of TruChoice provides significant opportunity for AmeriLife, a national leader in developing, marketing, and distributing life and health insurance, annuities and retirement planning solutions, to expand its annuities production, as well as increase its reach in the fast-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, unwavering commitment to empowering agents and advisors to help their clients live more financially secure lives,” said Scott R. Perry, chairman and CEO of AmeriLife. “We’re excited to welcome Brian Peterson and the talented teams at TruChoice and Inforce to the AmeriLife family and its best-in-class distribution.”
Under the AmeriLife umbrella, TruChoice and Inforce will gain access to a wealth of industry-leading resources, new products, and solutions to expand opportunities for their more than 4,000 financial professionals. Like AmeriLife, TruChoice will continue to maintain its strong relationship with Allianz Life as a non-affiliated FMO as the latter moves to consolidate its focus around its core business of creating innovative products that help clients manage their risk in retirement.
“This is a great move for TruChoice that puts us on a path to significant growth going forward,” said Brian Peterson, president and CEO of TruChoice Financial Group and Inforce. “I couldn’t be more excited for our employees and the financial professionals we serve. I’m convinced AmeriLife is the perfect new partner to help us drive this exciting expansion.”
“This sale supports Allianz Life’s ability to further focus on our core strengths of providing our independent distribution partners with innovative risk management and retirement solutions for their clients,” said Jasmine Jirele, president and CEO of Allianz Life. “I am also excited that this move will allow TruChoice to accelerate its growth as an independent distributor. We look forward to continuing to partner with TruChoice and expanding our relationship with the AmeriLife group of companies.”
Piper Sandler & Co. is acting as exclusive financial advisor to TruChoice Financial Group and Allianz Life Insurance Company of North America in connection with the transaction, which is expected to close on November 30, 2022, subject to customary closing conditions.
