Ensurem Enters Into $100 Million Credit Facility with DZ BANK
Mar 08, 2022, 12:06 ET
LARGO, Fla., March 8, 2022 /PRNewswire/ -- Ensurem, a Florida-based insurance technology and distribution company, today announced that it has entered into a $100 million credit facility with DZ BANK. This facility refinances existing debt and allows Ensurem to meaningfully increase the marketing and distribution of Medicare Advantage and Medicare Supplement policies.
This new lending facility provides Ensurem with significant capacity to promote initiatives aimed at meeting the healthcare needs of America's seniors, and to onboard more agents to satisfy this increased demand. Ensurem plans to double its agent headcount in 2022 relative to the start of the 2021 Annual Enrollment Period.
"Our vision is to provide Medicare shoppers with a more simplified shopping experience, helping match them with health insurance plan options that meet their unique health and budget needs," said Dave Rich, CEO of Ensurem. "This loan allows us to continue to expand our reach and provide seniors with more options to help them live their best lives." Ensurem has also recently announced a new partnership with fitness and lifestyle icon Denise Austin.
The establishment of this facility follows several years of robust growth at Ensurem, including its 2021 acquisition by 777 Partners, a Miami-based investment firm. 777 Partners owns a diversified portfolio of insurance carriers, technology companies, and distributors across the life, health and property & casualty verticals. Ensurem represents its second investment in the Medicare market.
"This lending facility represents a tremendous step forward for the financing of Medicare policy distribution and uniquely positions Ensurem to expand its market share in the fast-growing senior health space," said Jorge Beruff, Managing Director at 777 Partners. "We are excited to facilitate this next phase of Ensurem's growth," said Alexander Ploch, Director at DZ BANK.
Ensurem, headquartered in Largo, FL, is a leading technology and product distribution company serving carriers and consumers within the massive U.S. senior market. The company offers Medicare Advantage, Medicare Supplement, vision, dental, hospital indemnity, and final expense insurance. It also provides end-to-end solutions for carriers, including product development, digital marketing, and consumer-centric insurance technologies. For more information, please visit ensurem.com.
About 777 Partners
777 Partners is a Miami based private investment firm that invests across a number of high growth attractive verticals with a strong focus on financial services.
Founded in 2015, 777 Partners initially applied its expertise in underwriting and financing esoteric assets to diversify across a broad spectrum of financial services businesses, asset originators, and financial technology/service providers. In recent years, the firm has broadened its mandate and now invests across six different industries: insurance, consumer and commercial finance, litigation finance, direct lending, sports, media and entertainment, and aviation.
About DZ BANK
DZ BANK is the second largest bank in Germany and acts as central bank for approximately 800 cooperative banks with over 8,500 branches in Germany. DZ BANK's New York based Structured Finance Asset Securitization unit offers specialty lender finance, structured asset and accounts receivable financing solutions for a wide variety of clients and asset types throughout North America.
SOURCE 777 Partners
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