September 2,2010 - Jacksonville, FL - Fortegra Financial Corporation announces its acquisition of United Motor Club of America, of Paducah, KY, on September 2, 2010. This strategic acquisition exapnds the product line that Fortegra's Payment Protection Division offers to it consumer finance and other lending institution clients.
United Motor Club provides automobile membership plans, which are offered by its consumer finance clients to their borrowers. "Joining forces with United Motor Club immediately expands Life of the South's presence in the motor club membership market and positions the combined companies as a one-stop provider and administrator of ancillary products sold by lenders," stated Joe McCaw, President of Fortegra's Payment Protection Division. Life of the South is a strategic marketing, manufacturing and administration provider of financial products and solutions and is the brand under which Fortegra's Payment Protection Division operates.
Ric Webster, President of United Motor Club, stated that Life of the South was a natural partner given that both companies emphasize customer services and build long-standing relationships with their clients.
"We are excited about the opportunities that United Motor Club brings to our Payment Protection platform. We will have significant cross-selling opportunities across our respective client bases and will explore new distribution channels for their membership plans. Moreover, we will continue Ric's leadership of United Motor Club to assure that we mantain the highest level of service as we integrate those operations with our existing lines of business," said Richard S. Kalbaugh, CEO of Fortegra Financial.
Fortegra Financial offers a broad range of finanical insurance services, including payment protection products, property and casualty wholesale brokerage, life wholesale brokerage and reinsurance intermediary services, captive management, mass marketing, and administration and business process outsourcing, third party policy and claims administration, and commercial collections and collateral recovery. The Company's broad and varied customer base includes the nation's most recognized banks, financial institutions and retailers as well as large variety of regional and local financial concerns and insurance carriers and agencies. Additional information about Fortegra can be found at www.fortegra.com.
For more information Contact:
Ginny Simon, Project Marketing