MIB to acquire APEXA
Data and solutions provider for the life insurance industry MIB Group has reached an agreement with a subsidiary of RGA to acquire APEXA, a contracting and compliance service provider for life insurance advisors, MGAs, and carriers. The acquisition expands MIB’s portfolio of digital solutions and client base in Canada.
APEXA’s platform connects the Canadian life insurance carriers, MGAs, and advisors through a single digital interface, providing visibility and efficiency to the contracting and compliance process. APEXA’s platform has become the leader in Canada, with 95% of major Canadian life insurance companies and their partner MGAs using the service today to connect with over 50,000 independent advisors.
In 2018, RGAX announced the acquisition of LOGiQ³ and its group of companies that include APEXA.
“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.” – Dylan Friedmann, APEXA’s VP and chief client officer.
“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.” – Brian Winikoff, CEO of MIB.