BIRMINGHAM, Ala. — June 22, 2015 – First Protective Insurance Group, Inc., a subsidiary of Protective Life Corporation, today announced the acquisition of the brokerage business Profit Plans, LLC.
Profit Plans is a Chattanooga, Tennessee, based brokerage agency founded in 1963 that specializes in both life insurance and annuities.
The acquisition will allow producers at Profit Plans brokerage to access a broader range of risk management product lines as well as expanded sales and marketing resources.
“We are pleased to bring these two successful organizations together, and believe this will benefit Profit Plans’ producers and their clients,” said Andy Martin, CLU, ChFC, president of First Protective.
“We are excited about the opportunity to join forces with First Protective,” said Doug BeVille, president of Profit Plans. “We believe the combined resources will help our customers continue to build their businesses and bring additional value to their clients.”
ABOUT FIRST PROTECTIVE
First Protective, a subsidiary of Protective Life Corporation, serves insurance and financial services professionals across the United States. Originally founded in 1983 as a life insurance distribution company, First Protective is a full-service financial services marketing organization providing life insurance, annuities and asset-based LTC solutions, as well as disability and long term care insurance. First Protective is headquartered in Birmingham, Alabama, with regional offices in Mobile and Huntsville, Ala., Baton Rouge, La., Greenville, S.C., Nashville, Tenn., and Milwaukee, Wis.
For more information, about First Protective, visit www.firstprotective.com.
ABOUT PROTECTIVE LIFE
Protective Life Corporation is headquartered in Birmingham, Alabama. The Company provides financial services through the production, distribution and administration of insurance and investment products throughout the U.S. It has annual revenue of approximately $4.4 billion and as of December 31, 2014, had assets of approximately $70.5 billion.
For more information on Protective Life, please visit www.protective.com.
Vice President, External Communications