Truss Peak Holdings Announces Acquisition of Leaders Life Insurance Company

TULSA, Okla. & CHARLOTTE, N.C.--(BUSINESS WIRE)--Truss Peak Holdings LLC, through its subsidiary, TPH Insurance Hold Co LP (“Truss Peak”), today announced it has closed its acquisition of Leaders Life Insurance Company (“Leaders”), a Tulsa-based provider of life and health insurance products. Michigan Farm Bureau Financial Corporation previously owned Leaders Life Insurance Company.

Founded in 1989, Leaders is licensed in 15 states and currently serves customers through worksite-based distribution. The company maintains a headquarters in Tulsa, Oklahoma and employs 20 professionals. Leaders has established a reputation for reliable service and straightforward benefits offerings that meet the evolving needs of employees and their families. The company provides workplace insurance products, including life, short-term disability, and accident policies through a network of 700 agents and 1,400 employer groups. Leaders' decades-long commitment to outstanding customer service sets it apart from other carriers.

"This acquisition reflects our long-term commitment to building an insurance platform focused on mutually beneficial insurance solutions which preserve the seller’s legacy, enhance financial strength, and promote growth," said William Ketterer, President and Chief Investment Officer of Truss Peak. "We see great opportunity in Leaders' strong regional presence, their experienced team, and their approach to product delivery through the workplace. Additionally, I’d like to thank the Leaders and Farm Bureau teams for their collaborative approach to this transaction."

Don Simon, CEO of Michigan Farm Bureau Financial Corporation, added “We have had a smooth process in working with Truss Peak, Leaders and Farm Bureau personnel to achieve this transaction in the best interest of all stakeholders. I would like to thank everyone at Leaders Life for the benefits achieved by the Family of Companies during our nine-year partnership.”

Following the close of the acquisition, Leaders will continue to operate under its existing brand and leadership team. The company does not plan any immediate staffing changes. Truss Peak anticipates growing Leaders' team and expanding its licensure footprint to reach new markets with an emphasis in the Midwest. Future investments are also expected in technology and product development.

About Leaders Life Insurance Company

Leaders Life Insurance Company, founded in 1989 in Tulsa, OK, initially provided quality life insurance for QuikTrip Corporation employees. They expanded their offerings to include short-term disability, group life, and group accident coverage, becoming a leading provider of voluntary life insurance in the South and Midwest. In 2016, Michigan Farm Bureau acquired Leaders Life, enabling further expansion and innovation under the original management team.

About Truss Peak Holdings LLC

Truss Peak Holdings LLC specializes in life reinsurance and acquisitions, offering capital and tailored solutions for life insurance companies. They combine in-house expertise in asset management, actuarial, operations, sales, and accounting to provide a holistic approach to reinsurance and acquisitions. This comprehensive capability allows Truss Peak to efficiently manage every aspect of the process and deliver solutions tailored to their partners' needs.

Truss Peak is backed by South Summit Capital Management LLC, a single family office that makes private capital investments, and Thayer Street Partners, a boutique private investment firm based in New York City.