Protective Life Corporation has announced its agreement to acquire ShelterPoint Group, Inc., enhancing its employee benefits portfolio and expanding its market presence.

Information on the Target

ShelterPoint Group, Inc. is a prominent employee benefits provider specializing in statutory disability benefits, paid family and medical leave, and medical gap insurance products. As the holding company for ShelterPoint Life Insurance Company and its wholly owned subsidiary, ShelterPoint Insurance Company, ShelterPoint operates primarily in New York, where it is noted for its compliance with state-mandated disability benefits laws. The company currently services approximately two million individuals across nearly 200,000 businesses, driven by an exceptional customer service experience and a strong level of industry expertise.

In addition to its established presence in New York, ShelterPoint is pursuing a strategic expansion into other states, aiming to broaden its reach within the paid family and medical leave sector. This growth trajectory indicates ShelterPoint's commitment to enhancing access to necessary employee benefits and reflects broader trends within the insurance industry towards inclusivity and support for workers taking leaves of absence.

Industry Overview in the Target’s Specific Country

The employee benefits industry in the United States has been evolving in response to both market demands and legislative changes. Recently, more states have enacted laws mandating paid family and medical leave insurance, s