BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (Protective), a U.S. subsidiary of Dai-ichi Life Holdings, Inc. (Dai-ichi) (TSE:8750), today announced that it has completed the acquisition of Portfolio Holding, Inc. (Portfolio) and its subsidiaries from Abry Partners. The transaction unites two leading providers of finance and insurance (F&I) solutions and dealer wealth programs, expanding Protective’s reach across automotive, RV, powersports and marine sectors.

The addition of Portfolio marks a significant milestone for Protective’s Asset Protection Division, growing the number of customers served while bringing an established distribution network, award-winning service reputation and a comprehensive suite of reinsurance and dealer wealth-building programs that enhance Protective’s existing offerings.

“Over the past decade, Protective Asset Protection has grown organically and through strategic acquisitions that have strengthened our position and expanded our reach. Each acquisition has contributed to the division’s evolution as an increasingly important part of Protective’s overall business mix,” said Rich Bielen, CEO of Protective. “Portfolio’s values and commitment to service excellence align closely with Protective’s. We are excited to welcome their team to Protective and look forward to driving our next chapter of growth together.”

“By integrating Portfolio’s specialized expertise with Protective’s scale and capabilities, we are positioned to set the standard in our industry,” said Scott Karchunas, President of Protective’s Asset Protection Division. “Our dealer partners and their customers will benefit from enhanced technology, innovative products and best-in-class administration. This combination reinforces our market leadership and our ability to deliver experiences that drive dealer success and customer satisfaction.”

Founded in 1990 and headquartered in Lake Forest, California, with offices in Dallas and Cleveland, Portfolio employs approximately 450 team members and is an 18-time recipient of the Dealers’ Choice Awards. Portfolio’s dealer participation programs enable dealers to build long-term wealth through reinsurance structures, retaining underwriting profits and investment income. The company’s national, multi-channel distribution network serves millions of customers through vehicle service contracts, GAP (Guaranteed Asset Protection) coverage and a broad range of ancillary products.

This transaction marks Protective’s 61^st acquisition and its eighth acquisition completed since Protective became part of Dai-ichi in 2015.

Maynard Nexsen PC served as legal counsel to Protective, and TD Securities served as its financial advisor. Kirkland & Ellis LLP acted as legal counsel to Portfolio, and Jefferies LLC acted as its financial advisor.

About Protective Asset Protection

Protective Asset Protection has been providing Finance & Insurance solutions for the automotive industry for more than 60 years. We proudly serve thousands of dealerships and financial institutions throughout the U.S. and Puerto Rico with innovative F&I products, training, dealer participation programs and technology. Our portfolio of vehicle protection plans, GAP (Guaranteed Asset Protection) coverage, limited warranties and ancillary products provide opportunities to generate revenue with products that help drive customer retention and satisfaction. Protective Asset Protection is part of the financial services holding company, Protective Life Corporation. For more information about Protective Asset Protection, visit protectiveassetprotection.com.

About Protective

Protective Life Corporation has helped people achieve protection and security in their lives for 119 years. Through its subsidiaries, Protective offers life insurance, annuity, asset protection and employee benefit solutions and is helping nearly 28 million people protect what matters most. Protective’s more than 3,900 employees put people first and deliver on the company’s promises to customers, partners, colleagues and communities – because we’re all protectors. With a long-term focus, financial stability and commitment to doing the right thing, Protective Life Corporation, a subsidiary of Dai-ichi Life Holdings, Inc., has approximately $140 billion in assets, as of Sept. 30, 2025. Protective is headquartered in Birmingham, Alabama, and is supported by a robust virtual workforce and core sites in the greater Cincinnati area and St. Louis. For more information about Protective, visit protective.com.