Protective Life to acquire Portfolio from Abry Partners.

Protective Life, a financial services holding company and a US subsidiary of Dai-ichi Life, agreed to acquire Portfolio, a provider of reinsurance management services and finance and insurance products for car dealerships, from Abry Partners, a private equity firm. Financial terms were not disclosed. "Portfolio’s partnership with Abry has been transformational for our business and customers. We are thankful for the strategic guidance and operational support over the years that helped us build a stronger organization to support our dealers, agents, and employees. I'm incredibly proud of what we've accomplished together and looking forward to the continued growth of the business as part of the Protective platform," Jeremy Lux, Portfolio CEO.