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[July 02, 2014]
LTC Global merges with LTC Financial Partners [LifeHealthPro]
(LifeHealthPro Via Acquire Media NewsEdge) Two long-term care insurance (LTCI) distributors -- LTC Financial Partners and LTC Global Marketing -- have merged. LTC Financial was based in Kirkland, Wash., and LTC Global was based in Fort Myers, Fla. The combined company will keep offices in both communities.
Denise Gott, who was executive vice president of LTC Financial, will be the chief executive officer. The company has two marketing units: ACSIA Partners L.L.C. and United Insurance Group Agency Inc.
ACSIA sells LTCI products and related products and services. United Insurance sells Medicare supplement, Medicare Advantage and Medicare Part D prescription drug products.
The company has relationships with about 400 agents. The agents sell directly to consumers and also through worksite benefits programs.
Richard Pitbladdo, who has been chief executive officer of LTC Global, said in a statement that making the deal is a way to cope with "today's challenging LTC insurance environment" and to take advantage of sales opportunities in the Medicare plan market.
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