Protective Life and Alfa Insurance Announce Strategic Partnership
New Distribution Agreement: Protective Life and Alfa Insurance
Protective Life Insurance Company, a prominent subsidiary of Protective Life Corporation and part of the Dai-ichi Life Holdings group, has announced a strategic distribution partnership with Alfa Insurance. Starting January 6, Alfa Insurance agents can provide their clients with an expanded suite of life insurance and annuity products from Protective Life. This collaboration aims to enhance Alfa's product portfolio while extending its insurance solutions to a broader demographic.
Both Alabama-based companies emphasize delivering financial security and reliable service, focusing on regulatory compliance requirements. Their joint commitment aims to make comprehensive life and annuity products more accessible to families across Alabama, Georgia, and Mississippi. Jimmy Parnell, CEO of Alfa Insurance, remarked on the partnership's importance, noting its potential to empower Alfa's agents with an enriched range of offerings to address customers' future financial needs.
Aaron Seurkamp, President of Protective's Protection & Retirement Division, mentioned the inherent synergy between the companies, acknowledging how their shared values foster a robust partnership. By integrating Protective’s specialized training and market expertise with Alfa's existing network, this alliance is expected to enhance Alfa's role as a comprehensive insurance provider while reinforcing Protective’s market presence.
About Protective Life Corporation
Protective Life Corporation, with 119 years in the insurance industry, offers a diverse range of life insurance, annuity, asset protection, and employee benefits solutions. Serving nearly 32 million customers, the company upholds a strong commitment to payer and provider relationships, managing approximately $140 billion in assets through its Birmingham headquarters and other strategic locations.
About Alfa Insurance
Founded in 1946 by the Alabama Farmers Federation, Alfa Insurance is a significant player in the industry, with over 2,000 agents operating across Alabama, Georgia, and Mississippi. The company handles over $30 billion in life insurance policies and possesses a substantial foothold in the property and casualty sector, highlighting its dedication to risk management and underwriting excellence.