BIRMINGHAM, Ala.–(Small business WIRE)–Protecting Daily life Corporation, a wholly owned U.S. subsidiary of Dai‑ichi Lifestyle Holdings, Inc. (TSE:8750), announced these days that its principal subsidiary, Protecting Existence Insurance policies Firm (“Protective Life”), has entered into an settlement to get top automotive finance and coverage provider AUL Corp.
“With a national footprint of agents and sellers, an experienced workforce in the automobile services contract enterprise in addition to distribution channel advancement possibilities in the higher-mileage and the money institutions room, AUL’s product or service portfolio is a strong complement to Protective’s Asset Protection Division,” claimed Rich Bielen, president and CEO of Protecting. “Our Asset Defense Division has grown steadily more than new years through equally acquisitions and natural growth. It continues to be a really essential part of our small business, and we appear ahead to continuing the momentum with the acquisition of AUL.”
“AUL is enthusiastic about the chance to sign up for the Protective loved ones. Combining Protective’s sources and get to with our promptly developing system will empower us to deliver a lot more strong alternatives for our brokers and dealers,” mentioned Jimmy Atkinson, president and CEO of AUL. “Protecting and AUL also align in our concentrate on culture and prospects for our personnel, contributions to our communities and award‑winning buyer support. We’re fired up to transfer forward alongside one another.”
Protecting Asset Protection’s offerings consist of, amid others, prolonged assistance contracts, confirmed asset defense and ancillary solutions to safeguard consumers’ investments in automobiles, leisure cars, watercraft and powersports vehicles. In addition, Protective Asset Protection, which has served customers for 60 years, presents a sturdy portfolio of vendor participation systems, training and technologies remedies as a result of a community of common agents as effectively as a immediate revenue drive. Launched in 1990, AUL, a pioneer in the made use of car or truck support deal market, offers a range of finance and coverage products together with warranties, car or truck provider contracts, confirmed asset security insurance coverage and a suite of ancillary products and solutions.
“AUL is an proven sector leader in the automotive finance and insurance policies area, featuring a full suite of merchandise and expert services for brokers and their sellers,” explained Scott Karchunas, president of Protective Asset Safety. “By means of this acquisition, we are psyched to continue on rising Protective Asset Protection by serving the wants of far more agents, dealers and buyers throughout the place.”
When shut, this transaction will symbolize Protective’s 59th acquisition. It will be the sixth transaction completed given that Protective turned part of Dai‑ichi in 2015. Dai‑ichi, a worldwide chief with above $588 billion in total property, considers Protecting to be its North American system and proceeds to goal for more expansion in the location, as a result of equally acquisitions and organic development.
Subject matter to the receipt of regulatory approvals and satisfaction of customary closing problems, the closing of the acquisition is predicted to happen in the next quarter of 2022.
Maynard, Cooper & Gale, P.C. acted as exterior legal counsel for Protecting in this transaction. Patterson Belknap Webb & Tyler LLP acted as external authorized counsel for AUL in this transaction. Houlihan Lokey acted as economic advisor to AUL in the transaction.
About Protective Asset Defense
Protective Asset Defense has been delivering Finance & Insurance policy answers for the automotive field for 60 yrs. We proudly serve thousands of dealerships throughout the U.S. and Puerto Rico with modern F&I merchandise, education, seller participation packages and technologies. Our portfolio of car or truck defense ideas, Gap protection, restricted warranties and ancillary products and solutions offer options to make income with items that assist push purchaser retention and fulfillment. Protective Asset Defense is component of the economical providers keeping corporation, Protective Life Corporation. For far more information and facts about Protecting Asset Protection, get in touch with 800-794-5491 or visit www.ProtectiveAssetProtection.com.
Protecting has assisted individuals accomplish safety and protection in their lives for 115 several years. Through its subsidiaries, Protective presents lifestyle insurance policies, annuity and asset protection options and is serving to a lot more than 12 million persons guard what issues most. Protective’s extra than 3,600 staff place persons initially and deliver on the Company’s claims to prospects, associates, colleagues and communities – mainly because we’re all protectors. With a lengthy-time period target, fiscal steadiness and determination to performing the right factor, Protective Daily life Company, a wholly owned subsidiary of Dai‑ichi Daily life Holdings, Inc. (TSE:8750), has developed to about $132 billion in assets, as of Dec. 31, 2021. Protecting is headquartered in Birmingham, Alabama, and supported by both sturdy virtual workforce and main internet sites in Cincinnati and St. Louis. For a lot more data about Protecting, stop by www.protecting.com.
About AUL Corp.
AUL Corp. launched the used car or truck company deal field with the introduction in 1990 of the still-famed “Any Year, Any Mileage®” car company deal. The business now offers a whole suite of industry foremost F&I goods. AUL’s mission is to be the leading F&I service provider in The united states by any quantifiable measurement of business enterprise activity. AUL enjoys a longstanding romance with its underwriters, who hold an A.M. Ideal rating of “A” Superb. AUL also enjoys the longest-phrase relationships in the field with its agent and vendor shoppers, as verified by unbiased 3rd-bash study. To find out far more, please take a look at www.aulcorp.com.