Protective to expand market reach through acquisition

Protective Life Corporation (Protective) has reached an agreement through subsidiary, Protective Life Insurance Company, to acquire Florida-based USWC Holding Company and its operating subsidiaries.

USWC markets vehicle service contracts, GAP coverage and a suite of automotive maintenance and protection products nationwide.

Protective said the deal will complement Protective’s asset protection line of business. The acquisition is expected to provide the combined entities with expanded market reach and improved product and operational capabilities.

“Under the leadership of Scott Karchunas, our asset protection line of business has been performing well and this transaction is a great way to grow the line of business,” said Richard Bielen, president and chief operating officer of Protective.

“The two companies both have a history of quality and success, so putting them together creates the potential for the business to grow even stronger and serve more dealerships with these important products. We are pleased to have the USWC team become part of Protective.”