Protective to acquire Portfolio

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Protective Life

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has entered into an agreement to acquire Portfolio Holding and its subsidiaries from Abry Partners. Portfolio is a provider of reinsurance management services and finance and insurance products for dealers nationwide.

Founded in 1990 and headquartered in Lake Forest, California, with offices in Dallas and Cleveland, Portfolio offers dealers participation programs through reinsurance structures, enabling them to retain underwriting profits and investment income. With approximately 450 employees and a national, multi-channel distribution network, Portfolio serves millions of in-force customers through vehicle service contracts, GAP coverage and a broad range of ancillary products.

The transaction is expected to close by the end of the year, subject to regulatory approvals and customary closing conditions.

Upon closing, this transaction will mark Protective’s 61st acquisition and its eighth since becoming part of Tokyo-based Dai-ichi Life Holdings in 2015.

“Portfolio is a natural fit for Protective—not only for its complementary offerings, but for its shared commitment to innovation and dealer success. Their approach aligns seamlessly with our mission to deliver smarter, more specialized solutions that help dealers grow and thrive. Together, we’re expanding what’s possible in F&I and reinforcing our commitment to long-term value for our partners and their customers.” – Scott Karchunas, President of Protective’s Asset Protection Division.

“Joining with Protective opens an exciting new chapter for our team as we seek to scale our impact across the dealer community. Abry Partners has been an outstanding partner in accelerating our growth and innovation capabilities and played a critical role in positioning us for long-term success. Now, through Protective’s established network and market expertise, we have a powerful platform to enable us to deliver our proven solutions to a broader dealer base.” – Jeremy Lux, CEO of Portfolio.

“Protective’s Asset Protection Division has become an increasingly important part of our business, and this acquisition marks another milestone in its evolution. Portfolio brings a strong track record in dealer wealth programs and a deep understanding of what it takes to help dealers succeed. While life insurance and annuities remain the foundation of our company, expanding our Asset Protection Division enhances our ability to protect more customers and deliver enduring value.” – Rich Bielen, President and CEO of Protective.

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