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“Integrity is a business
built by caring and committed people who go the extra mile to help other
people. Two years ago, we became an employee-owned company with our
innovative Employee Ownership Plan, which gave ownership in our company
to all our employees. As we experience success and create value as an
insurtech company, we share that upside with all our employee owners,”
said Bryan W. Adams. “Our employees are the key to making our vision to
transform the industries we serve a reality. We are thrilled to show our
gratitude by including our entire team in our success. By coming together
to work, win, prosper and share, we have been able to create one of the
industry’s first companies where every employee is also an owner.”
“Integrity is truly a
company powered by people and we’re passionate about our culture of
giving back,” said Steve Young, Integrity’s Chairman of the Board.
“Without question, our motivated, dedicated employees have made Integrity
one of the fastest growing companies in America. We couldn’t be happier
to reward their contributions and dedication — and show them how
appreciated they are by sharing in our growth.”
Integrity has achieved
an impressive year-over-year annual growth in excess of 100% for five
years running, and has a one-of-a-kind omnichannel insurtech platform —
with 420,000 agents serving more than 10 million clients annually. The company
expects new sales in 2021 to exceed $7 billion and to reach more than
$20 billion of assets under management and
advisement through its RIA and broker-dealer platforms by the end of
the year.
The company recently
announced a strategic equity partnership led by Silver Lake
to expand Integrity’s digital innovation and insurtech capabilities.
“Integrity’s culture of
employee ownership is a key differentiator. It’s an incredibly powerful
way to align objectives that spur growth and reward people for delivering
on innovation,” said Egon Durban, Co-CEO of Silver Lake. “We are
supportive of how the employee ownership program at Integrity is
inclusive, sharing and demonstrates a belief in their people.”
“When you work with a
committed, talented group of individuals who are helping improve the
lives of Americans, the decision to share our success becomes an easy
one,” explained Adams. “In addition to the $125 million they’re receiving
today, our employees will continue to have considerable equity ownership
in Integrity. When you consider that the average household savings in
America is roughly $17,000, it’s easy to see how ownership can help our
employees prepare for the good days ahead. This is unquestionably the
most meaningful decision and outcome I’ve ever been part of in my
career.”
Integrity became an
employee-owned business in 2019 with the formation of the Employee
Ownership Plan, and the company paid out a retroactive cash distribution
of $50 million to Integrity’s 750 employees at the time. With this latest
payment, Integrity has now paid out a total of $175 million to its
employees in a little over two years through the Employee Ownership Plan.
“We want all of our
employees to know they are in the right place, making valued
contributions every day,” continued Adams. “Together, we are executing
our mission to serve the life, health and wealth needs of Americans and
help them prepare for the good days ahead. That makes it even more
fitting that we share in the prosperity we achieve together.”
“I’ve been part of some
incredible things throughout my career, but nothing comes close to the
joy of being able to share true ownership with our employees — it’s a day
that will change their lives forever, and the potential value it offers
is unimaginable,” shared Young. “Integrity is committed to transforming
the insurance and financial services industries, and what we’ve been able
to achieve would not have been possible without the amazing team we’ve
assembled. This unique opportunity and reward for our employees is well
deserved.”
For more information
about Integrity and their Employee Ownership Plan, please visit www.integritymarketing.com/news.
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