Joseph
Pulitano will be the CEO of the new LTC Agency Operations business.
LTC Global Inc. says it has joined
with Joseph Pulitano to form a new long-term care insurance distribution
operation, LTC Agency Operations LLC.
LTC Agency Operations
will absorb ACSIA Partners and LTC Global Agency from LTC Global Inc., and
Pulitano’s Advanced Resources Marketing business, LTC Global Inc. says.
LTC Agency Operations will end up
with relationships with about 500 long-term care insurance specialists.
Pulitano, who has been the president
of Advanced Resources Marketing, will be the chief executive officer of LTC
Agency Operations.
Henrik Larsen, the chief executive
officer of Advanced Resources Marketing, will become the chief operating
officer at LTC Agency Operations.
LTC Global Inc. has not disclosed the
terms of the deal or described the ownership structure. It says it will use its
association marketing program and Internet marketing program to generate leads
for the new, combined LTCI distribution operation.
Daniel Schmedlen Jr., chief executive
officer of LTC Global Inc., said in a statement that both Advanced Resources
Marketing and LTC Global Inc.’s ACSIA Partners units have had strong worksite
LTCI sales operations.
The LTC Agency Operations arrangement
“will provide a steady flow of additional distribution opportunities for all of
our LTCI agents,” Schmedlen said.
The Players
LTC Global is a Fort Myers,
Florida-based company that has been distributing life insurance, health
insurance and LTCI coverage. The company also provides financing for agents
through a commission advance program and a renewal commission purchase program.
ARM is a Newton, Massachusetts-based
insurance agency that was founded in 1986. The company has focused mainly on
selling LTCI at the worksite, and through relationships with associations.
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