CRC Group has announced that it has signed a definitive agreement to acquire BenefitMall, the nation’s largest employee benefits general agency. The transaction is expected to close in the third quarter of this year.
The acquisition will allow CRC Group to provide retail agents with the broadest array of insurance products and services available from any wholesale distributor in the market today, the company said. Products offered by CRC include property and casualty, life, annuity, long-term care, and employee benefits.
“CRC Group’s goal is to be a one-stop shop solution capable of meeting the needs of our retail clients,” said Dave Obenauer, CEO of CRC Group. “The addition of BenefitMall significantly enhances our ability to support the diverse offering our retail agency partners are providing today.”
With the addition of BenefitMall, CRC Group is projected to place more than $31.5 billion in premiums annually and employ more than 5,100 people throughout North America. BenefitMall will become CRC Group’s employee benefits unit within the company’s Life, Retirement and Benefits Division, which was created in July 2021. BenefitMall will retain its brand name under the continued leadership of its current management team.
“As we explored options for incorporating a foundational employee benefits solution into our division, it became clear that BenefitMall’s strong market leadership, innovative technology platform, and collaborative organizational culture made them a perfect fit,” said Rob Carney, CEO of CRC Group’s Life, Retirement and Benefits Division. “BenefitMall will round out our offerings and give us the ability to provide strategic employee benefits solutions for businesses with a wide array of insurance needs.”
“BenefitMall has a proud history of growth and innovation in benefit broker services,” said Scott Kirksey, CEO of BenefitMall. “We enthusiastically join the CRC Group team to provide our mutual partners with the broadest insurance services and solutions available from any wholesale distributor in the marketplace today. We know this combination will allow us to continue our mission to provide the fastest, easiest, and most trusted benefits-selling experience.”
