BenefitMall, a provider of next-generation broker services, announced the acquisition of Mutual Med, a Davenport, Iowa-based insurance distributor providing sales counseling and support for benefits agents serving large groups, small groups, and individuals.
With complementary carrier relationships and extensive voluntary benefits offerings, the acquisition of Mutual Med allows employer clients of both companies to access a wider range of carriers and networks. The addition of Mutual Med to the BenefitMall footprint strengthens the company’s presence in the Midwest and furthers BenefitMall’s expansion goals for 2022-2023.
Mutual Med will operate as a division of BenefitMall, continuing under its current name and leadership. In addition to serving current BenefitMall markets of Georgia and Texas, the acquisition adds new markets of Alabama, Illinois, Iowa, North Carolina, North Dakota, South Carolina, South Dakota, and Tennessee to BenefitMall’s service territory. Their combined presence provides service in 24 states to agencies selling in 48 states.
Topics Mergers & Acquisitions
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