Primerica
July 1, 2021
Primerica said it closed the purchase of 80 percent of the operating subsidiaries of Etelequote Limited, known as e-TeleQuote. The deal, agreed on April 18, 2021, carries an enterprise value of 600 million dollars and an implied equity value of about 450 million dollars. Primerica will buy the remaining 20 percent over as long as four years.
Chief executive Glenn Williams said the combination lets life-licensed representatives serve client financial needs across more of a lifetime. e-TeleQuote distributes Medicare-related insurance, including more than 2,700 Medicare Advantage plans from carriers such as United Healthcare, Humana, and Anthem, and it has a growing Medicare supplement business with four carriers.
Founder and chief executive Anthony P. Solazzo said licensed agents use a carrier-neutral approach to help beneficiaries compare plans. Consumers can reach those agents or the consumer site easymedicare.com. The close follows the April agreement and brings the senior-health distributor into Primerica.