MIB has acquired APEXA from Reinsurance Group of America.
The company said it was buying the contracting and compliance service provider for life insurance advisors, MGAs, and carriers, expanding its portfolio of digital solutions and client base within Canada. APEXA’s platform connects the Canadian life insurance carriers, MGAs, and advisors through a single digital interface.
Dylan Friedmann, vice president and chief client officer of APEXA, said: “APEXA was created in partnership with Canadian carriers and MGAs to simplify the advisor contracting and compliance processes. We are excited to join MIB, who shares a similar heritage and culture as well as a mission focused on providing innovative tools to advance the life insurance industry.”
MIB said it was intending to expand its portfolio of solutions through a combination of internal development, partnership, and acquisitions.
The terms of the transaction were not disclosed.
