Protective announces major acquisition of leading insurance product provider
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Today, Birmingham-based Protective Life Corporation (Protective) announced its plans to acquire Portfolio Holding, Inc., a leading national provider of reinsurance management services and finance and insurance (F&I) products. A significant milestone in Protective’s strategic growth within its F&I products and services, the acquisition will allow Protective to expand its ability to deliver leading solutions that drive dealer success and customer satisfaction.
Protective acquires Portfolio
Dating back nearly 118 years, Protective Life Corporation is a Birmingham-based insurance and investment firm and is a U.S. subsidiary of the Dai-ichi Life Insurance Co. of Tokyo, Japan. As part of its services, Protective offers finance and insurance solutions to the automotive industry, supporting 10,000+ dealerships with:
- Vehicle protection plans
- Dealer participation programs
- Training
- Technology
To help expand its ability to deliver solutions for dealer success and customer satisfaction, Protective has agreed to acquire Portfolio Holding, Inc. (Portfolio) and its subsidiaries from Abry Partners.
“Portfolio is a natural fit for Protective—not only for its complementary offerings, but for its shared commitment to innovation and dealer success. Their approach aligns seamlessly with our mission to deliver smarter, more specialized solutions that help dealers grow and thrive.
Together, we’re expanding what’s possible in F&I and reinforcing our commitment to long-term value for our partners and their customers.”
Scott Karchunas, President of Protective’s Asset Protection Division
According to a press release, Portfolio employs roughly 450 employees and serves millions of customers through “vehicle service contracts, GAP coverage and a broad range of ancillary products.”
“Joining with Protective opens an exciting new chapter for our team as we seek to scale our impact across the dealer community. Abry Partners has been an outstanding partner in accelerating our growth and innovation capabilities and played a critical role in positioning us for long-term success.
Now, through Protective’s established network and market expertise, we have a powerful platform to enable us to deliver our proven solutions to a broader dealer base.”
Jeremy Lux, CEO of Portfolio
The acquisition is expected to close by the end of 2025, subject to regulatory approvals and customary closing conditions. Once complete, the transaction will mark Protective’s 61st acquisition and its eighth since becoming part of Tokyo-based Dai-ichi Life Holdings in 2015.
“Protective’s Asset Protection Division has become an increasingly important part of our business, and this acquisition marks another milestone in its evolution. Portfolio brings a strong track record in dealer wealth programs and a deep understanding of what it takes to help dealers succeed. While life insurance and annuities remain the foundation of our company, expanding our Asset Protection Division enhances our ability to protect more customers and deliver enduring value.”
Rich Bielen, President and CEO of Protective
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