By Allison Bell | January 25, 2021 at 11:03 AM
Terms were not disclosed for purchase of Crowe and Associates.
Pinnacle Financial Services Inc., a life and health
distributor, has acquired insurance distributor Crowe and
Associates..
Pennsylvania-based Pinnacle distributes life insurance, health
insurance, annuities and long-term care insurance through agencies in all 50
states. It has about 45 employees. AmeriLife Group LLC of Clearwater, Florida,
acquired a large ownership stake in Pinnacle in May.
Crowe is a Connecticut-based field marketing organization that
was founded in 2006 and offers products aimed at older consumers.
Crowe distributes a wide range of products, including life
insurance and annuities, but its current focus is on Medicare Advantage,
Medicare supplement insurance and Medicare Part D prescription drug plans.
It also runs a Medicare lead program, online quote and
comparison sites, and a sales training program.
Payment terms were not disclosed, but the companies say Ed
Crowe, president of Crowe and Associates, will become vice president of
business development at Pinnacle. He also will continue to be
president of Crowe and Associates, the companies said.
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