Protective Life Corporation said it has completed the acquisition of Portfolio Holding, Inc. and its subsidiaries from Abry Partners.
The transaction unites F&I solutions and dealer wealth program providers. Protective, a U.S. subsidiary of Dai-ichi Life Holdings, Inc., said the acquisition expands the company’s reach across RV and other sectors.
Protective said adding Portfolio marks a significant milestone for the company’s Asset Protection Division. The acquisition adds reinsurance and dealer wealth-building programs that Protective CEO Rich Bielen said enhance Protective’s existing offerings.
“Over the past decade, Protective Asset Protection has grown organically and through strategic acquisitions that have strengthened our position and expanded our reach,” Bielen said. “Each acquisition has contributed to the division’s evolution as an increasingly important part of Protective’s overall business mix.”
Protective Asset Protection Division President Scott Karchunas said the combination reinforces the company’s market leadership.
“By integrating Portfolio’s specialized expertise with Protective’s scale and capabilities, we are positioned to set the standard in our industry,” Karchunas said. “Our dealer partners and their customers will benefit from enhanced technology, innovative products and best-in-class administration.”
This transaction marks Protective’s 61st acquisition and its eighth since Protective joined Dai-ichi in 2015.
Portfolio was founded in 1990 and has its headquarters in Lake Forest, California, with offices in Dallas and Cleveland. The company employs approximately 450 people and is an 18-time recipient of the Dealers’ Choice Awards.
Portfolio said its dealer participation programs enable dealers to build long-term wealth through reinsurance structures, retaining underwriting profits and investment income.
