Life and health insurance product distributor Integrity Marketing Group has received investment of $1.2bn from investment firm Silver Lake.
According to Coverager, in return, Silver Lake will secure a minority stake in Integrity. The founders, management and employees of Integrity will continue to be its majority shareholders, however, with Harvest Partners remaining the company’s largest institutional investor.
Through this investment, Silver Lake will also secure a seat on the Integrity board of directors and plans to collaborate with the company’s leadership and partners on strategic initiatives to speed up Integrity’s organic growth plans.
Integrity co-founder and CEO Bryan Adams said, “Integrity has experienced significant growth by expanding the ways we help Americans access life, health and wealth solutions. We’ve invested heavily in technology and are constantly working to develop transformative solutions that improve the insurance and wealth management experience for Americans.
“We are thrilled that Silver Lake has chosen to join us on our journey to innovate insurance and leverage our unique omnichannel distribution network. Silver Lake’s proven experience and expertise in digital transformation will help position Integrity to support Americans in protecting their life, health and wealth more than ever before. This is a revolutionary partnership that will greatly enhance our mission to help Americans prepare for the good days ahead.”
Integrity chairman of the board Steve Young added, “At Integrity, we will never stop striving to help the people we serve protect what matters most to them — and we’re thrilled that Silver Lake shares our vision. This partnership will allow us to expand our solutions portfolio, streamline our processes and enhance our ability to deliver the life, health and wealth solutions Americans need. We’re proud of what we’ve achieved so far, but we truly feel like we’re still just getting started.
“Silver Lake is in a class of its own in transforming companies with data, analytics and high aspirations. We’re confident Silver Lake will help Integrity’s forward-looking platform reach its full potential and we’re excited to add them to our investor group.”
Copyright © 2021 FinTech Global
