TAMPA, Fla., July 16, 2020 (GLOBE NEWSWIRE) -- BRP Group, Inc. (NASDAQ: BRP), a rapidly growing independent insurance distribution firm delivering tailored insurance solutions, today announced that BRP Medicare Insurance III, LLC, a subsidiary of BRP Group operating as Guided Medicare Solutions, has entered into an agreement to acquire substantially all assets of Medicare Insurance Advisors, Inc., a Knoxville, Tennessee-based independent Field Marketing Organization for Medicare insurance solutions. Medicare Insurance Advisors generated annual revenues of approximately $1.2 million. The Partnership is expected to close August 1, 2020, subject to certain closing conditions.
Medicare Insurance Advisors differentiates itself by taking an educational approach relative to its various Medicare products and offerings, acting as a resource to clients by providing its collective expertise to the community. By doing so, Medicare Insurance Advisors and its experienced partner agents create a customized best-in-class experience to provide long-term support for clients. Following this Partnership, Medicare Insurance Advisors will be rebranded under the Company’s Guided banner over a transition period.
“Partnering with Medicare Insurance Advisors allows us to further expand our Medicare footprint and onboard a strong team to Guided that is generating accelerated growth,” said John Valentine, Chief Partnership Officer of BRP Group. “We’re excited to integrate the Medicare Insurance Advisors team into BRP Group and continue growing our Medicare segment.”
“We are thrilled to partner with Guided, which will bolster our platform and the services we will be able to provide our clients,” said Blake McCoy, Managing Director of Medicare Insurance Advisors. “Forming long-term relationships and educating our clients on Medicare is our core mission, and joining with BRP offers us the opportunity to collaborate with a team that aligns with our culture while taking advantage of newly additional resources to further grow our business.”
ABOUT BRP GROUP, INC.
BRP Group, Inc. (NASDAQ: BRP) is a rapidly growing independent insurance distribution firm delivering tailored insurance and risk management insights and solutions that give our clients the peace of mind to pursue their purpose, passion and dreams. We are innovating the industry by taking a holistic and tailored approach to risk management, insurance and employee benefits, and support our clients, Colleagues, Insurance Company Partners and communities through the deployment of vanguard resources and capital to drive our growth. BRP represents over 500,000 clients across the United States and internationally. For more information, please visit www.baldwinriskpartners.com. Learn more about Guided at www.guidedsolutions.com.
ABOUT MEDICARE INSURANCE ADVISORS, INC.
Medicare Insurance Advisors is a field marketing organization with headquarters in Knoxville, Tennessee, providing Medicare and dental insurance products through numerous carrier partners in several regions across the United States. Specializing in the Medicare insurance segment, Medicare Insurance Advisors is committed to educating and acting as a resource on the availability and optionality of Medicare solutions to the senior health market. Our certified Medicare insurance advisors are experts in the industry and passionate about helping clients build customized insurance plans that best fit their health history and future plans, rather than general offerings. Learn more at www.medicareinsurance-advisors.com.
