Birmingham-based Protective Life Corporation has announced plans to acquire Portfolio Holding, Inc. and its subsidiaries from Abry Partners, expanding the company’s national footprint in the finance and insurance (F&I) sector. Portfolio provides reinsurance management services and F&I products for auto, RV, powersports, and marine dealers across the United States.
The acquisition represents another milestone in Protective’s steady growth and diversification within its Asset Protection Division, which serves as a key pillar of the company’s business. The integration of Portfolio’s dealer wealth programs and technology platform will allow Protective to strengthen its service offerings and expand innovative solutions for dealerships and customers nationwide.
“Portfolio is a natural fit for Protective—not only for its complementary offerings, but for its shared commitment to innovation and dealer success,” said Scott Karchunas, president of Protective’s Asset Protection Division. “Their approach aligns seamlessly with our mission to deliver smarter, more specialized solutions that help dealers grow and thrive. Together, we’re expanding what’s possible in F&I and reinforcing our commitment to long-term value for our partners and their customers.”
Founded in 1990 and headquartered in Lake Forest, California, with additional offices in Dallas and Cleveland, Portfolio employs about 450 people and serves millions of in-force customers through vehicle service contracts, GAP coverage, and other protection products. The company has been recognized 18 times with the Dealers’ Choice Awards for service excellence.
“Joining with Protective opens an exciting new chapter for our team as we seek to scale our impact across the dealer community,” said Jeremy Lux, CEO of Portfolio. “Abry Partners has been an outstanding partner in accelerating our growth and innovation capabilities and played a critical role in positioning us for long-term success. Now, through Protective’s established network and market expertise, we have a powerful platform to enable us to deliver our proven solutions to a broader dealer base.”
Protective’s Asset Protection Division, headquartered in Birmingham, has provided F&I solutions to the automotive industry for more than 60 years and today supports over 10,000 dealerships across the country. Recent acquisitions—AUL, Revolos, and U.S. Warranty—have further strengthened the division’s role in Protective’s overall growth strategy.
“Protective’s Asset Protection Division has become an increasingly important part of our business, and this acquisition marks another milestone in its evolution,” said Rich Bielen, president and CEO of Protective Life. “Portfolio brings a strong track record in dealer wealth programs and a deep understanding of what it takes to help dealers succeed. While life insurance and annuities remain the foundation of our company, expanding our Asset Protection Division enhances our ability to protect more customers and deliver enduring value.”
The transaction is expected to close by the end of 2025, pending regulatory approval. Once completed, it will become Protective’s 61st acquisition and its eighth since joining Tokyo-based Dai-ichi Life Holdings in 2015. Headquartered in Birmingham, Protective Life serves as Dai-ichi Life Holdings’ North American growth platform, employing more than 3,500 people and serving nearly 17 million customers. The company remains one of Alabama’s leading financial employers, with strong commitments to innovation, customer protection, and long-term value.
Sherri Blevins is a staff writer for Yellowhammer News. You may contact her at [email protected].
