TMCnet News
Protective Closes United States Warranty Corp. AcquisitionProtective Life Corporation ("Protective") has announced that on December 1, 2016 its principal subsidiary, Protective Life Insurance Company ("Protective Life"), completed the acquisition of the Pompano Beach, Florida-based USWC Holding Company ("US Warranty") via a stock purchase agreement. US Warranty, through its affiliated operating subsidiaries, including United States Warranty Corp., markets vehicle service contracts, GAP coverage and a suite of ancillary automotive maintenance and protection products nationwide. The transaction was originally announced on August 18, 2016. "The addition of US Warranty is expected to expand our market reach, enhance our product and operational capabilities, and enable higher growth. The team in Pompano Beach has joined the Protective family and we are all looking forward to growing the business and continuing to deliver valuable solutions to our cusomers," said Richard J. Bielen, Protective's President and Chief Operating Officer. ABOUT PROTECTIVE Protective Life Corporation provides financial services through the production, distribution and administration of insurance and investment products throughout the U.S. The flagship subsidiary, Protective Life Insurance Company, was founded in 1907. Protective's home office is located in Birmingham, Alabama. As of December 31, 2015 the Company had assets of approximately $68.5 billion. Protective Life Corporation is a wholly owned subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750, "Dai-ichi") For more information on Protective Life Corporation, please visit www.protective.com. For more information about Asset Protection visit www.protectiveassetprotection.com.
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