Jacksonville, Fla.-based Fortegra Financial Corp., an insurance services company specializing in affinity marketing, payment protection, mass marketing and administration, has completed the acquisition of Bliss & Glennon Inc., from Willis HRH Inc. The financial terms of the transaction were not released.
Joe Plumeri, chairman and CEO, Willis Group Holdings, said Willis sold the unit because it did not fit with his firm’s focus on retail brokerage. Bliss & Glennon is a surplus lines general insurance agency with binding authority.
Fortegra Financial, formerly Life of the South, was founded in 1982 as a credit insurer and has since expanded into other insurance services and products. Fortegra Financial serves clients in the banking, credit union, consumer finance, automotive, retail, credit card, and vacation ownership industries. This transaction positions Fortegra to expand into wholesale brokerage.
Fortegra’s President and CEO Richard S. Kahlbaugh said the firm has been looking for strategic opportunities and it plans to enter new geographic markets and product segments. Fortegra Financial completed a recapitalization with Summit Partners in June 2007.
Topics Mergers & Acquisitions
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