Published in Finance

Family-owned MultiState Insurance to be acquired by Dallas firm

BY MiBiz Staff Friday, April 05, 2019 12:14pm

GRAND HAVEN — The second-generation family-owned MultiState Insurance Center Inc. agency has signed a definitive agreement to sell to a Texas-based independent life insurance and health insurance firm.

Under the deal, announced earlier this week, Dallas-based Integrity Marketing Group LLC will take over the “fast-growing” agency, and MultiState owner and CEO Karen Fredericks will become an owner in the Integrity, which intends to invest in growing the business, according to a statement.

The two firms had a business relationship for “almost 20 years,” Integrity Managing Partner Mike White said in a statement.

MultiState specializes in Medicare supplement and final expense insurance.

Integrity offers life and health insurance products designed with insurance carrier partners. The company employs more than 450 people.

Terms of the deal were not disclosed.

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