We are excited to announce that CRC Group has signed a definitive agreement to acquire BenefitMall, the nation's largest employee benefits general agency. With this acquisition, CRC Group will provide retail agents with the broadest array of insurance products and services available from any wholesale distributor in the marketplace today, including property and casualty, life, annuity, long-term care, and now employee benefits. The transaction is expected to close in the third quarter of 2022, subject to satisfaction of customary closing conditions.
"CRC Group's goal is to be a one-stop shop solution capable of meeting the needs of our retail clients," said Dave Obenauer, CRC Group's Chief Executive Officer. "The addition of BenefitMall significantly enhances our ability to support the diverse offering our retail agency partners are providing today," said Obenauer.
With this addition, CRC Group is projected to place more than $31.5 billion in premiums annually and employ over 5,100 teammates throughout North America. BenefitMall will become CRC Group's employee benefits solution within the company's Life, Retirement, and Benefits Division, which was created in July 2021. BenefitMall will retain its brand name under the continued leadership of the company's current management team.
Rob Carney, Chief Executive Officer of CRC Group's Life, Retirement, and Benefits Division, said, "As we explored options for incorporating a foundational employee benefits solution into our division, it became clear that BenefitMall's strong market leadership, innovative technology platform, and collaborative organizational culture made them a perfect fit. BenefitMall will round out our offerings and give us the ability to provide strategic employee benefits solutions for businesses with a wide array of insurance needs."
"BenefitMall has a proud history of growth and innovation in benefit broker services," said Scott Kirksey, CEO of BenefitMall. "We enthusiastically join the CRC Group team to provide our mutual partners with the broadest insurance services and solutions available from any wholesale distributor in the marketplace today. We know this combination will allow us to continue our mission to provide the fastest, easiest, and most trusted benefits selling experience."
Click here to view additional details of this exciting merger.