Protective Life Corp. (Protective), a wholly-owned U.S. subsidiary of Dai-ichi Life Holdings, announced Jan. 4 the completed transaction to acquire the Revolos company family.
The transaction was first announced Sept. 25, 2020 and marks the fifth completed acquisiton since Protective became part of Dai-ichi in 2015.
“The closing of this transaction marks another milestone for Protective and an exciting new chapter in the growth of the Asset Protection Division,” Protective President and CEO Richard Bielen stated. “We are excited about the opportunity to expand our market reach and deliver valuable solutions to more customers by adding Revolos’ complementary product portfolio and distribution channels to our current business lines.”
Dai-ichi considers Protective as its North American growth platform and continues to aim for further expansion in the region, the company stated, including acquisitions and organic growth in Protective’s retail sales.
Revolos provides finance and insurance products including vehicle service contracts, guaranteed asset protection (GAP) coverage and ancillary products serving the RV, automotive and powersports industries.
“Both Revolos and Protective have built strong organizations with a focus on meeting the needs of agents and dealers,” Protective Asset Protection Division President Scott Karchunas stated. “We are excited to welcome the Revolos team members to the Protective family, together we can continue growing and protecting more customers.”
