Protective Acquires Prizm Group’s Service Contract Business
BIRMINGHAM, Ala. — Protective Life Insurance Co. has acquired the service contract business of Denver-based Prizm Group Inc.
Protective’s Asset Protection Division underwrites, administers and markets products to automobile, marine, recreational vehicle and powersports dealers, including extended service contracts, GAP coverage and credit insurance.
Prizm’s automobile and recreation vehicle service contract business served 3,000 dealerships nationwide. Protective’s subsidiary, Lyndon Property Insurance Co., has underwritten the service contract business of Prizm and its predecessor companies for about 10 years.
“We saw Prizm as a good company that has established a quality block of business over many years,” said Brent Griggs, president of Protective’s Asset Protection Division. “Their long and successful experience administering extended service contracts tells us they are a first-class organization. We very much look forward to servicing and supporting Prizm’s agents and dealers.”
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