Integrity Marketing Group acquires Annexus
Integrity Marketing Group has entered into an agreement to acquire Annexus, an independent 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 in Integrity. Previous Annexus investors, including funds managed by Blackstone, will sell their interests as part of the transaction. Financial terms of the acquisition were not disclosed.
Annexus develops financial and insurance products including fixed indexed annuities and indexed universal life insurance policies for insurance companies. In addition to product development, Annexus provides a full range of marketing, technology and illustration systems to its distribution partners. In 2022, Annexus expects to place approximately $7 billion in annuity premium and $150 million in target life insurance premium.
“At Integrity, we are passionate about holistically serving the life, health and wealth needs of Americans to ensure they have the best solutions and coverage for every stage of life, including retirement. Since its founding, Annexus has been the market leader in developing annuity and life insurance products with the highest level of service in the industry. Joining the Integrity platform will provide the experienced team at Annexus with a comprehensive suite of technology, resources and support to layer on top of their already exceptional systems and processes. The partnership will give Integrity access to Annexus’ deep product development and distribution partnership expertise, which will greatly enhance our mission to help more Americans prepare for the good days ahead. It’s an ideal match that will elevate the way insurance and financial planning products are developed and distributed — we can’t wait to get started!” – Bryan W. Adams, Co-Founder and CEO of Integrity.
“We created Annexus around a unique vision to revolutionize product development and delivery in the annuity and life insurance space and provide better solutions to our stakeholders. Likewise, Integrity has transformed insurance distribution, wealth management and retirement planning by assembling an unsurpassed network of industry leaders and legends who are innovating every part of the industry. By leveraging our respective strengths, we see unbelievable growth potential for both of our companies. Carriers, advisors and clients need the products and services we provide more than ever. When it comes to improving lives, there is no finish line. We’re committed to helping every American enjoy a safer and more secure retirement, and partnering with Integrity will help us amplify and accelerate toward that goal.” – Ron Shurts, co-founder and CEO of Annexus.
“When two innovators of this magnitude come together with a common goal, everyone wins. Ron Shurts has always been one of the hardest working, most respected leaders in the industry. Every move he makes is with the intention of improving lives — those of his coworkers, his carrier and financial services provider partners, and ultimately, the consumers who receive better outcomes from the products Annexus designs. With Annexus at our side, Integrity will be able to provide an even wider range of retirement solutions to meet the essential needs of the rapidly growing senior market. This partnership reinforces Integrity’s commitment to improve retirement planning for all Americans.” – Tom Dempsey, chief distribution officer at Integrity.