Birmingham’s Protective Life Corp. will acquire Atlanta-based Revolos, Protective’s fifth acquisition since it became part of Dai-ichi Holdings in 2015.
Revolos is a full-service finance and insurance provider that offers products that complement Protective’s portfolio.
“Revolos has built a strong organization with a focus on meeting the needs of agents, dealers and financial institutions,” said Scott Karchinas, president, Protective Asset Protection. “We are excited about the opportunity to grow market share and protect more customers by adding Revolos’ complementary product portfolio and distribution channels to our current business lines.”
Rich Holland, CEO of Revolos, said that “becoming part of the Protective family is an exciting step on our company’s journey.”
“Protective is a well-known, respected and leading provider of finance and insurance solutions to the markets we serve,” he said. “We look forward to the benefits this opportunity will provide our team member, partners and customers.”
Terms of the acquisition, expected to close the first quarter of 2021, were not disclosed.
Protective Asset Protection provides vehicle protection plans, gap and ancillary products through vehicle dealerships. Protective Asset Protection has been serving dealers for more than 55 years and currently provides products and services to automobile, marine, RV and powersports dealers.
Revolos is an F&I solutions provider that offers producers more than 40 years of experience, with more than 4.6 million vehicle service contracts sold and $1.1 billion in paid claims to more than 1.8 million consumers.
