AmeriLife Expands Market Reach Through Strategic Acquisition of TruChoice Financial

AmeriLife, a prominent player in life and health insurance, annuities and retirement planning distribution, has revealed plans to acquire TruChoice Financial Group and its subsidiary Inforce Solutions from Allianz Life Insurance Company of North America. This move marks a significant consolidation in the financial services industry.

Strengthening Distribution Capabilities

TruChoice Financial, headquartered in Minneapolis, stands as one of the nation’s largest field marketing organizations serving the insurance and financial services sector. The organization supports life and annuities agencies by delivering comprehensive marketing support, business development resources, and financial products. Its sister company, Inforce, operates as a national brokerage general agency specializing in life insurance distribution.

The strategic combination positions AmeriLife to substantially enhance its annuities production capacity while deepening its penetration into the expanding life insurance market. Scott R. Perry, leading AmeriLife as chairman and CEO, emphasized the alignment between both organizations: “This brings together two companies sharing core values and a commitment to empowering agents and advisors to strengthen their clients’ financial security. We’re enthusiastic about integrating Brian Peterson’s teams and their proven expertise into our distribution network.”

Expanding Professional Network

The integration creates opportunities for TruChoice Financial’s network of more than 4,000 financial professionals to access AmeriLife’s comprehensive suite of industry resources, innovative products and expanded solutions. AmeriLife currently operates through a distribution infrastructure encompassing over 300,000 insurance agents and advisors alongside more than 100 marketing organizations and agency locations nationwide.

Brian Peterson, president and CEO of TruChoice Financial Group, highlighted the growth potential: “This partnership positions us for substantial expansion. Our employees and the financial professionals we represent will benefit from AmeriLife’s best-in-class capabilities and resources as we pursue this next chapter of development.”

Strategic Positioning for Allianz Life

For Allianz Life, the divestiture enables the company to concentrate resources on its core competencies in creating innovative retirement risk management and annuity solutions for independent distribution partners. Jasmine Jirele, Allianz Life’s president and CEO, noted: “This transaction supports our strategic focus while allowing TruChoice Financial to accelerate as an independent distributor. We anticipate strengthening our collaboration with TruChoice under AmeriLife’s stewardship.”

Transaction Framework

Piper Sandler & Co. is providing financial advisory services to both TruChoice Financial Group and Allianz Life in executing this transaction. The acquisition is anticipated to finalize on November 30, 2022, contingent upon satisfaction of standard regulatory and closing conditions.