Primerica Announces Agreement to Acquire e-TeleQuote

Primerica and Etelequote Limited, a senior health insurance distributor of Medicare-related insurance policies, announced on April 19 that they have signed a definitive agreement under which Primerica will acquire 80% of Etelequote Limited’s operating subsidiaries (collectively, “e-TeleQuote”) at an enterprise value of $600 million.

Under the terms of the agreement, Primerica will purchase the remaining 20% stake over a period of up to four years. The companies also signed a distribution agreement for Primerica’s U.S. sales force to refer Medicare Advantage and Medicare Supplement sales to e-TeleQuote. The transaction is expected to close in July 2021.

“This acquisition will combine the strengths of two successful companies, positioning both for expanded growth,” said Glenn Williams, Primerica Chief Executive Officer. “The synergies between the client relationships of our sales force and e-TeleQuote’s expertise in senior health insurance plans are a major factor in our decision to enter this space. e-TeleQuote’s specialized technology platform and dynamic sales centers align perfectly with Primerica’s powerful distribution capabilities, allowing us to deliver additional value to our clients, sales representatives, employees, and stockholders.”

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