Leaders Life Insurance Acquired by Truss Peak Holdings Subsidiary
Leaders Life Insurance Co., a Tulsa-based insurer operating in 15 states, has been acquired by TPH Insurance Hold Co. LP, a subsidiary of Truss Peak Holdings LLC. The acquisition, reported by AM Best, involved the purchase of Leaders Life from Michigan Farm Bureau Financial Corp.
Leaders Life distributes life and health insurance products through workplace-based channels and employer-sponsored programs, utilizing approximately 700 agents to serve around 1,400 employer groups. Following the acquisition, the company will continue to operate under its existing brand and leadership, with no immediate staffing changes planned, according to Truss Peak’s statement.
Truss Peak plans to support Leaders Life’s expansion into additional markets, primarily across the Midwest, and intends to invest in technology and product development. William Ketterer, president and chief investment officer of Truss Peak, emphasized that the acquisition is part of a long-term strategy to develop an insurance platform through transactions that maintain continuity for acquired companies.
“We see great opportunity in Leaders’ strong regional presence, their experienced team, and their approach to product delivery through the workplace,” Ketterer said. Truss Peak specializes in reinsurance and acquisitions within the life insurance sector, providing services such as asset management, operations, actuarial consulting, sales, and accounting to companies undergoing structural transitions.
The acquisition is backed by South Summit Capital Management LLC, a private capital single-family office, and Thayer Street Partners, a New York-based investment firm. It follows a trend of consolidation in the insurance industry, as seen in recent transactions such as Sierra Financial Holdings LLC’s acquisition of Preferred Security Life Insurance Co.
The deal highlights Truss Peak’s strategic focus on expanding its presence in the insurance industry through targeted acquisitions, maintaining continuity for the acquired companies while investing in their growth and development.
