AmeriLife Receives Strategic Investment from Genstar Capital

Becoming an equal investor with THL, Genstar’s investment will help to expand AmeriLife’s suite of services and offerings, and further accelerate growth.

(Image source: AmeriLife homepage.)

AmeriLife Group, LLC (Clearwater, Fla.), a national company that develops, markets, and distributes life and health insurance, annuities, and retirement planning solutions, has announced an investment from Genstar Capital (San Francisco), a private equity firm focused on investments in targeted segments of the financial services, healthcare, industrials and software industries. Genstar will join AmeriLife’s current private equity investor, Thomas H. Lee Partners, L.P. (THL, Boston), as an equal investor, according to an AmeriLife statement. The companies declined to disclose the amount of the investment. THL led a recapitalization agreement in the first quarter of 2020, acquiring a majority stake from J.C. Flowers & Co.

Scott R. Perry, Chairman and CEO, AmeriLife.

AmeriLife reports that it employs more than 1,800 associates across the country, serving a growing population of more than 300,000 licensed agents and advisors in over 90 offices who, in turn, help enhance the health and financial wellbeing of more than 5 million pre-retirees and retirees.

“Over the last two years, AmeriLife has rapidly grown its affiliate base and invested heavily in best-in-class shared resources and support to fuel our tremendous organic growth,” comments Scott R. Perry, chairman and CEO, AmeriLife. “Genstar’s investment will accelerate our growth and help us continue to build out our platform to provide superior support to our carrier partners, our affiliates and our agents.”

Ryan Clark, President and Managing Director, Genstar Capital.

“Genstar Capital could not be more excited to welcome AmeriLife to our portfolio,” comments Ryan Clark, president and managing director, Genstar Capital. “We have followed the tremendous progress of Scott and his team since we first met in 2016. AmeriLife has proven that its model is the future of insurance marketing and distribution. Combined with Genstar’s deep expertise in financial services, software and healthcare, and our collective commitment to delivering the data, tools and technology necessary to compete and win in today’s marketplace, we see huge opportunity for AmeriLife and its partners.”

Accelerating the Next Stage of Growth

Ganesh Rao, Managing Director, Head, Financial Technology and Services Group, THL.

“Over the past two years, AmeriLife has emerged as one of the premier distributors of health and financial solutions in the United States,” says Ganesh Rao, managing director and head of the Financial Technology and Services Group at THL. “We look forward to our continued partnership, and we welcome our partners at Genstar, whose investment will help accelerate AmeriLife’s next stage of growth and development.”

Evercore (New York) served as financial advisor to AmeriLife on the transaction. Additional terms of the transaction, which is subject to customary closing conditions, were not disclosed. The transaction is expected to be completed in the third quarter.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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