SPG Announces Strategic Realignment of Life & Annuity Division
Specialty Program Group LLC, the Chicago based specialty insurance platform, is reshaping its Life and Annuity division with a strategic realignment set to take effect in January 2026. The move brings AgencyONE, Brokers' Service Marketing Group, and Business Underwriters Associates together under a single SPG operating platform, signaling a clear intention to scale expertise, simplify engagement, and sharpen its position in the advanced life insurance market.
Rather than a consolidation for consolidation’s sake, the realignment reflects a broader industry trend toward integration and specialization, especially as carriers, advisors, and distribution partners navigate increasingly complex large case and advanced planning needs.
“This realignment is about creating clarity and momentum for our partners,”
Jason Lea, CEO of BSMG and SPG Life and Annuity Division
Leadership Built for Advanced Markets
A centerpiece of the announcement is the appointment of Gonzalo M. Garcia as Chief Advanced Markets Officer, a newly created role designed to unify strategy across large case life insurance and advanced planning. Garcia will work closely with SPG’s life sales teams, focusing on growth, market expansion, and deeper collaboration across the platform. He will report directly to Jason Lea, maintaining a clear leadership structure during the transition.
Garcia’s role reflects a growing emphasis on advanced markets as a differentiator, particularly as advisors seek more technical support around underwriting strategy, complex case design, and carrier navigation.
“Advanced markets success depends on alignment across sales, underwriting, and strategy,”
Gonzalo M. Garcia, Chief Advanced Markets Officer
AgencyONE also sees a leadership evolution with Cathy Neifeld, JD stepping into the role of Managing Partner. Neifeld brings decades of experience across insurance operations, business development, and relationship management. Her focus will center on operational leadership and attracting top tier talent, two areas that become even more critical as platforms scale.
“Strong operations and strong people are inseparable,”
Cathy Neifeld, Managing Partner, AgencyONE
Why This Matters to the Insurance Industry
SPG has built its reputation across underwriting, specialty brokerage, and digital solutions, with a consistent focus on process efficiency, capital investment, and broad carrier access. Bringing its Life and Annuity entities onto a single platform is intended to reduce friction, improve responsiveness, and create a more consistent experience for advisors and carrier partners alike.
AgencyONE continues to emphasize support for financial advisors through insurance based planning, while BSMG leverages more than 50 years of industry experience, including its Risk Differentiation Underwriting platform. BUA adds further depth in underwriting expertise, rounding out a combined offering that is designed to address both everyday cases and highly sophisticated planning scenarios.
What the Realignment Delivers to Partners
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Streamlined access to advanced markets expertise across life and annuity solutions
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Greater consistency in underwriting strategy, case design, and carrier engagement
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A single platform approach that supports growth without sacrificing specialization
A Snapshot of the New Structure
| Area of Focus | Before Realignment | After Realignment |
|---|---|---|
| Platform Structure | Separate operating entities | Unified SPG Life and Annuity platform |
| Advanced Markets Leadership | Distributed across organizations | Centralized under Chief Advanced Markets Officer |
| Advisor Experience | Multiple points of engagement | Integrated and coordinated support |
| Talent Strategy | Entity specific | Platform wide recruitment and development |
Looking Ahead
As the Life and Annuity marketplace continues to evolve, SPG’s realignment positions the organization to respond with both scale and precision. For insurance professionals, the changes suggest a partner that is investing in leadership, infrastructure, and advanced capabilities, while keeping advisor support at the center of its strategy.
The January 2026 timeline provides a runway for thoughtful integration, and the industry will be watching closely to see how this unified approach translates into execution, innovation, and long term growth.