Protective Life Corp., a wholly owned U.S. subsidiary of Dai-ichi Life Holdings Inc., said its principal subsidiary, Protective Life Insurance Co., has entered into an agreement to acquire leading automotive finance and insurance provider AUL Corp.
“With a national footprint of agents and dealers, an experienced team in the vehicle service contract business in addition to distribution channel growth opportunities in the higher-mileage and the financial institutions space, AUL’s product portfolio is a strong complement to Protective’s Asset Protection Division,” said Rich Bielen, president and CEO of Protective. “Our Asset Protection Division has grown steadily over recent years through both acquisitions and organic growth. It continues to be a very important part of our business, and we look forward to continuing the momentum with the acquisition of AUL.”
Added Jimmy Atkinson, president and CEO of AUL: “AUL is excited about the opportunity to join the Protective family. Combining Protective’s resources and reach with our rapidly growing platform will enable us to provide more robust solutions for our agents and dealers. Protective and AUL also align in our focus on culture and opportunities for our employees, contributions to our communities and award-winning customer service. We’re excited to move forward together.”
When closed, this transaction will represent Protective’s 59th acquisition. It will be the sixth transaction completed since Protective became part of Dai-ichi Holdings in 2015. Dai-ichi, a global leader with over $588 billion in total assets, considers Protective to be its North American platform and continues to aim for further expansion in the region, through both acquisitions and organic growth.