BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protecting Life Company, a completely owned U.S. subsidiary of Dai‑ichi Life Holdings, Inc. (TSE:8750), introduced at present that its principal subsidiary, Protecting Life Insurance coverage Firm (“Protecting Life”), has entered into an settlement to accumulate main automotive finance and insurance coverage supplier AUL Corp.
“With a nationwide footprint of brokers and sellers, an skilled group within the car service contract enterprise along with distribution channel progress alternatives within the higher-mileage and the monetary establishments area, AUL’s product portfolio is a robust complement to Protecting’s Asset Safety Division,” mentioned Wealthy Bielen, president and CEO of Protecting. “Our Asset Safety Division has grown steadily over current years by way of each acquisitions and natural progress. It continues to be an important a part of our enterprise, and we sit up for persevering with the momentum with the acquisition of AUL.”
“AUL is worked up in regards to the alternative to affix the Protecting household. Combining Protecting’s sources and attain with our quickly rising platform will allow us to offer extra strong options for our brokers and sellers,” mentioned Jimmy Atkinson, president and CEO of AUL. “Protecting and AUL additionally align in our concentrate on tradition and alternatives for our staff, contributions to our communities and award‑successful customer support. We’re excited to maneuver ahead collectively.”
Protecting Asset Safety’s choices embrace, amongst others, prolonged service contracts, assured asset safety and ancillary merchandise to guard shoppers’ investments in vehicles, leisure autos, watercraft and powersports autos. As well as, Protecting Asset Safety, which has served prospects for 60 years, provides a sturdy portfolio of vendor participation applications, coaching and expertise options by way of a community of basic brokers in addition to a direct gross sales drive. Based in 1990, AUL, a pioneer within the used automotive service contract business, provides a wide range of finance and insurance coverage merchandise together with warranties, car service contracts, assured asset safety insurance coverage and a set of ancillary merchandise.
“AUL is a longtime business chief within the automotive finance and insurance coverage area, providing a full suite of services and products for brokers and their sellers,” mentioned Scott Karchunas, president of Protecting Asset Safety. “Via this acquisition, we’re excited to proceed rising Protecting Asset Safety by serving the wants of extra brokers, sellers and shoppers throughout the nation.”
When closed, this transaction will symbolize Protecting’s 59th acquisition. It is going to be the sixth transaction accomplished since Protecting turned a part of Dai‑ichi in 2015. Dai‑ichi, a world chief with over $588 billion in whole property, considers Protecting to be its North American platform and continues to purpose for additional enlargement within the area, by way of each acquisitions and natural progress.
Topic to the receipt of regulatory approvals and satisfaction of customary closing situations, the closing of the acquisition is predicted to happen within the second quarter of 2022.
Maynard, Cooper & Gale, P.C. acted as exterior authorized counsel for Protecting on this transaction. Patterson Belknap Webb & Tyler LLP acted as exterior authorized counsel for AUL on this transaction. Houlihan Lokey acted as monetary advisor to AUL within the transaction.
About Protecting Asset Safety
Protecting Asset Safety has been offering Finance & Insurance coverage options for the automotive business for 60 years. We proudly serve hundreds of dealerships all through the U.S. and Puerto Rico with progressive F&I merchandise, coaching, vendor participation applications and expertise. Our portfolio of auto safety plans, GAP protection, restricted warranties and ancillary merchandise present alternatives to generate income with merchandise that assist drive buyer retention and satisfaction. Protecting Asset Safety is a part of the monetary companies holding firm, Protecting Life Company. For extra details about Protecting Asset Safety, name 800-794-5491 or go to www.ProtectiveAssetProtection.com.
About Protecting
Protecting has helped folks obtain safety and safety of their lives for 115 years. Via its subsidiaries, Protecting provides life insurance coverage, annuity and asset safety options and helps greater than 12 million folks defend what issues most. Protecting’s greater than 3,600 staff put folks first and ship on the Firm’s guarantees to prospects, companions, colleagues and communities – as a result of we’re all protectors. With a long-term focus, monetary stability and dedication to doing the proper factor, Protecting Life Company, a completely owned subsidiary of Dai‑ichi Life Holdings, Inc. (TSE:8750), has grown to about $132 billion in property, as of Dec. 31, 2021. Protecting is headquartered in Birmingham, Alabama, and supported by each strong digital workforce and core websites in Cincinnati and St. Louis. For extra details about Protecting, go to www.protecting.com.
About AUL Corp.
AUL Corp. based the used automotive service contract business with the introduction in 1990 of the still-famous “Any Yr, Any Mileage®” car service contract. The agency now provides a full suite of business main F&I merchandise. AUL’s mission is to be the premier F&I supplier in America by any quantifiable measurement of enterprise exercise. AUL enjoys a longstanding relationship with its underwriters, who maintain an A.M. Finest score of “A” Glorious. AUL additionally enjoys the longest-term relationships within the business with its agent and vendor shoppers, as verified by impartial third-party analysis. To search out out extra, please go to www.aulcorp.com.