AmeriLife To Acquire TruChoice Financial Group from Allianz Life Insurance Company of North America
November 8, 2022 by AmeriLife
AmeriLife Group, LLC (“AmeriLife”), a national leader in developing, marketing, and distributing life and health insurance, annuities and retirement planning solutions, anAdd Newnounced today that it has entered into an agreement to acquire TruChoice Financial Group (“TruChoice”) and its affiliate Inforce Solutions, LLC (“Inforce”), from Allianz Life Insurance Company of North America (“Allianz Life”).
Headquartered in Minneapolis, TruChoice is one of the largest field marketing organizations (FMO) in the financial services industry. The company partners with life and annuities agencies to provide them with best-in-class marketing, business support and financial solutions in an ever-changing industry. Inforce, an affiliate of TruChoice, is a national brokerage general agency (BGA) focused in the life insurance market. Per the agreement, terms of the deal were not disclosed.
The addition of TruChoice provides significant opportunity for AmeriLife to expand its annuities production, as well as increase its reach in the fast-growing life insurance market and forge a closer relationship with Allianz Life.
“Today’s announcement brings together two incredible companies that not only share similar values, but also a deep, unwavering commitment to empowering agents and advisors to help their clients live more financially secure lives,” said Scott R. Perry, chairman and CEO of AmeriLife. “We’re excited to welcome Brian Peterson and the talented teams at TruChoice and Inforce to the AmeriLife family and its best-in-class distribution.”
Under the AmeriLife umbrella, TruChoice and Inforce will gain access to a wealth of industry-leading resources, new products, and solutions to expand opportunities for their more than 4,000 financial professionals. Like AmeriLife, TruChoice will continue to maintain its strong relationship with Allianz Life as a non-affiliated FMO as the latter moves to consolidate its focus around its core business of creating innovative products that help clients manage their risk in retirement.
“This is a great move for TruChoice that puts us on a path to significant growth going forward,” said Brian Peterson, president and CEO of TruChoice Financial Group and Inforce. “I couldn’t be more excited for our employees and the financial professionals we serve. I’m convinced AmeriLife is the perfect new partner to help us drive this exciting expansion.”
“This sale supports Allianz Life’s ability to further focus on our core strengths of providing our independent distribution partners with innovative risk management and retirement solutions for their clients,” said Jasmine Jirele, president and CEO of Allianz Life. “I am also excited that this move will allow TruChoice to accelerate its growth as an independent distributor. We look forward to continuing to partner with TruChoice and expanding our relationship with the AmeriLife group of companies.”
Piper Sandler & Co. is acting as exclusive financial advisor to TruChoice Financial Group and Allianz Life Insurance Company of North America in connection with the transaction, which is expected to close on November 30, 2022, subject to customary closing conditions.
About TruChoice Financial Group
TruChoice is a dynamic sales and marketing organization and one of the largest distributors of financial services products in the insurance industry, functioning as a foundation for the success of the independent financial professionals they serve. For additional information, visit TruChoiceFinancial.com, and follow TruChoice on Facebook, LinkedIn and Twitter.
About Allianz Life Insurance Company of North America
Allianz Life Insurance Company of North America, one of the FORTUNE 100 Best Companies to Work For® and one of the Ethisphere World’s Most Ethical Companies®, has been keeping its promises since 1896 by helping Americans achieve their retirement income and protection goals with a variety of annuity and life insurance products. In 2021, Allianz Life provided additional value to its policyholders via distributions of more than $10.6 billion. As a leading provider of fixed index annuities, registered index-linked annuities and fixed index universal life insurance, Allianz Life is part of Allianz SE, a global leader in the financial services industry with approximately 150,000 employees in more than 70 countries. Allianz Life is a proud sponsor of Allianz Field® in St. Paul, Minnesota, home of Major League Soccer’s Minnesota United.
AmeriLife’s strength is its mission: to provide insurance and retirement solutions to help people live longer, healthier lives. In doing so, AmeriLife has become recognized as the leader in developing, marketing, and distributing life and health insurance, annuities and retirement planning solutions to enhance the lives of pre-retirees and retirees across the United States. For more than 50 years, AmeriLife has partnered with top insurance carriers to provide value and quality to customers served through a distribution network of over 300,000 insurance agents and advisors and more than 100 marketing organizations and insurance agency locations nationwide. For more information, visit AmeriLife.com, and follow AmeriLife on Facebook and LinkedIn.
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TruChoice Financial Group
Allianz Life Insurance Company of North America
Wink’s Note: If you are less-familiar with TruChoice, it was formed by the merger of about a dozen marketing organizations that were owned by Allianz Life. Allianz formed TruChoice from this, their owned distribution, a number of years ago.
This takes two of the biggest marketing organizations in the country, and makes them into a HUGE marketing powerhouse!