AmeriLife To Acquire Saybrus Partners from Nassau Financial Group
August 2, 2021 by AmeriLife Group, LLC
CLEARWATER, Fla. and HARTFORD, Conn., July 27, 2021 /PRNewswire/ — AmeriLife Group, LLC (“AmeriLife”), a national leader in developing, marketing, and distributing annuity, life, and health insurance solutions, has entered into an agreement to acquire Saybrus Partners, LLC (“Saybrus”), a life insurance and annuity distribution company, from Nassau Financial Group (“Nassau“).
“As longtime partners with Nassau Financial Group, we’ve witnessed firsthand Saybrus Partners’ track record of success as a leading distributor of life and annuity products,” said Scott R. Perry, chairman and CEO of AmeriLife. “Today’s announcement is a significant milestone in our relationship, and we’re thrilled to welcome the Saybrus team to the AmeriLife family. We look forward to extending and strengthening our industry-leading life and annuities offerings together.”
Based in Hartford, Conn., Saybrus Partners was formed in 2009 to bring its boutique model to institutions, delivering customized support, proactive consultation and transparent, centralized management for advisors and insurance agents. Saybrus has been a subsidiary of Nassau Financial Group since 2016 and has exclusively distributed Nassau’s annuities and Medicare supplement insurance through independent marketing organizations (IMOs) and independent agents. Further, Nassau and AmeriLife have a longstanding relationship, with the latter as the leading distribution partner for Nassau annuities. Saybrus will continue to distribute Nassau’s products after this transaction.
“This strategic transaction marks an exciting milestone for Nassau, further aligning us with AmeriLife, our leading distribution partner, while simplifying our business in support of our insurance sales and asset management growth plans,” said Phil Gass, chairman and chief executive officer of Nassau. “Under Ed Cassidy’s terrific leadership, Saybrus has grown from a start-up insurance wholesaler to a scaled insurance distribution company with a national footprint. We are confident that Saybrus has a bright future ahead with AmeriLife.”
“There was an obvious synergy to this transaction, starting with the long-standing relationship among Nassau, Saybrus and AmeriLife around the distribution of Nassau products,” said Edward Cassidy, managing principal of Saybrus Partners. “In addition, Saybrus and AmeriLife share a strategic focus on the development, marketing and distribution of annuities, life and health insurance solutions, and Saybrus’ industry footprint nicely complements AmeriLife’s growing portfolio of independent affiliates.”
Similar to other AmeriLife subsidiaries, Saybrus will continue to operate as a stand-alone organization and brand. Edward Cassidy, along with Aziz Ali, Moira Lowe, and the rest of the Saybrus management team will continue to lead Saybrus from its Hartford headquarters.
Shumaker, Loop & Kendrick acted as legal advisor to AmeriLife, while Debevoise & Plimpton and Piper Sandler & Co. acted as legal advisor and financial advisor, respectively, to Nassau in connection with the transaction, which is expected to close later this quarter, subject to customary closing conditions.
About AmeriLife
AmeriLife’s strength is its mission: to offer insurance and retirement solutions to help people live longer, healthier lives. By putting its mission into practice, AmeriLife has become recognized as a national leader in developing, marketing, and distributing life and health insurance, annuities and retirement planning solutions to enhance the lives of pre-retirees and retirees. For 50 years, AmeriLife has partnered with the nation’s leading insurance carriers to provide value and quality to customers served through a national distribution network of over 200,000 insurance agents and advisors, 35 marketing organizations, and nearly 60 insurance agency locations. Visit www.AmeriLife.com and follow AmeriLife on Facebook and LinkedIn for more information.
About Saybrus Partners
Saybrus Partners, LLC helps institutions and financial professionals address clients’ needs with life insurance and annuity solutions for basic protection as well as retirement, estate, and business planning. Its partner firms include institutional financial advisories, insurance retailers, banks and broker/dealers. Customizing its services to best fit its partners’ businesses, the company offers a complete set of distribution capabilities including assisted sales, traditional wholesaling, new business operations and custom product design. For more information, visit www.saybruspartners.com.
About Nassau Financial Group
Nassau Financial Group, based in Hartford, Conn., has combined assets of $27 billion, capital of $1.3 billion and annual sales of approximately $750 million. Its business covers insurance, asset management and reinsurance. For more information, visit www.nfg.com.
SOURCE AmeriLife Group, LLC
