May 25, 2010- Jacksonville, FL- Fortegra Financial Corporation
announces its acquisition of Continental Car Club, Inc., of Dayton,
TN, on May 15, 2010. This strategic acquisition expands the
product line that Fortegra's Payment Protection Division offers to
its consumer finance and other lending institution
clients.
Continental Car Club provides automobile membership plans, which
are offered by its consumer finance clients to their
borrowers. "These club membership plans represent a natural
extension of the Life of the South product set and positions the
combined companies to be a one-stop shop for 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 a wholly owned subsidiary of Fortegra
Financial.
James Dill Sr. and Phyllis Dill, Owners of Continental Car Club,
noted that the acquisition of Continental Car Club combines
organizations of similar cultures and vision - founded upon
superior customer service and development of long-standing
relationships that benefit the companies and their clients.
"We are excited about the opportunities that Continental Car
Club brings to our Payment Protection platform. We will have
significant cross-selling opportunities across our respective
client bases. Moreover, we will continue James and Phyllis'
leadership of Continental Car Club to assure that we maintain the
highest level of service as we integrate those operations with our
existing lines of business," said Richard S. Kahlbaugh, CEO of
Fortegra Financial.
The terms of the transaction were not disclosed.
About Fortegra Financial
Fortegra Financial offers a broad range of financial 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 a large variety of
regional and local financial concerns and insurance carriers and
agencies. Additional information about Fortegra can be found at www.fortegra.com