MIB Group acquires contracting and compliance service provider APEXA

MIB Group Holdings, a provider of data, insights, and digital solutions to the life insurance industry, has agreed to acquire APEXA from a subsidiary of Reinsurance Group of America (RGA).

The financial terms of the deal were not disclosed.

APEXA is a Canadian contracting and compliance service provider that serves life insurance advisors, managing general agents (MGAs), and carriers.

MIB Group said that the acquisition grows its portfolio of digital solutions as well as client base in Canada.

The platform of APEXA is designed to connect the Canadian life insurance carriers, MGAs, and advisors via a single digital interface. It offers visibility as well as efficiency to the contracting and compliance process.

Dylan Friedmann — APEXA Vice President and Chief Client Officer 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 Group stated that by adding APEXA, it continues to enlarge its portfolio of solutions via a combination of internal development, acquisitions, and partnerships.

Brian Winikoff — CEO of MIB Group said: “We are thrilled to add APEXA to our growing portfolio of digital solutions and to expand our reach in the Canadian market.

“APEXA’s innovative and unique platform has gained tremendous adoption in Canada and is well positioned to expand with additional services in Canada and potentially the U.S.  We look forward to working with APEXA’s management team and partners to continue to advance APEXA’s offering and reach its full potential.”