Protective Life Corporation, a U.S. subsidiary of Dai-ichi Life Holdings, Inc., announced that it has completed the acquisition of Portfolio Holding, Inc., and its subsidiaries from Abry Partners.
The transaction unites two providers of finance and insurance (F&I) solutions and dealer wealth programs, expanding Protective’s reach across automotive, RV, powersports and marine sectors.
The addition of Portfolio marks a significant milestone for Protective’s Asset Protection Division, growing the number of customers served while bringing an established distribution network, award-winning service reputation and a comprehensive suite of reinsurance and dealer wealth-building programs that enhance Protective’s existing offerings.
“Over the past decade, Protective Asset Protection has grown organically and through strategic acquisitions that have strengthened our position and expanded our reach. Each acquisition has contributed to the division’s evolution as an increasingly important part of Protective’s overall business mix,” said Rich Bielen, CEO of Protective. “Portfolio’s values and commitment to service excellence align closely with Protective’s. We are excited to welcome their team to Protective and look forward to driving our next chapter of growth together.”
Founded in 1990 and headquartered in Lake Forest, California, with offices in Dallas and Cleveland, Portfolio employs approximately 450 team members.
“By integrating Portfolio’s specialized expertise with Protective’s scale and capabilities, we are positioned to set the standard in our industry,” said Scott Karchunas, President of Protective’s Asset Protection Division. “Our dealer partners and their customers will benefit from enhanced technology, innovative products and best-in-class administration. This combination reinforces our market leadership and our ability to deliver experiences that drive dealer success and customer satisfaction.”
