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FORT MYERS — LTC Global, which provides capital to the insurance industry, has acquired North Coast Brokerage Agency, which has offices in New York, Cleveland and Erie, Pa. NorthCoast, a Capitas Financial partner, operates an independent life insurance brokerage consulting business.
Terms of the deal weren’t disclosed.
Bill Davis, Jr., co-founder of NorthCoast, will continue to manage the business, according to a statement, while Bob Oglevee, NorthCoast’s other co-founder, is retiring.
“Bill and Bob have built a successful, multi-state agency and played critical roles in the formation and growth of Capitas. NorthCoast’s Capitas sales territories are adjacent to the Michigan and New York and New England territories serviced by LTC Global’s other Capitas agencies. We will continue to integrate our marketing approach among the agencies to enhance our service platform to our Capitas clients, and we look forward to supporting NorthCoast’s sales operations with advanced markets expertise and case design,” LTC Global CEO Daniel Schmedlen Jr. says in the release. “We are grateful for Bob’s contributions to NorthCoast and his support throughout the acquisition process and wish him well in his retirement.”
NorthCoast joins Pacific Southwest Financial, the Smith Cos. and Financial Advisory Associates as an LTC Global company and Capitas member firm.
LTC Global provides capital to insurance agents and agencies through commission advance programs and renewal commission purchases. Through its agency subsidiaries, LTC Global is a national distributor of life and health insurance products and one of the largest independent distributors of long term care insurance.
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