News and Financial Information

Protective Acquires the Prizm Group Service Contract Business

Monday, October 19, 2009 7:02 pm EDT

Dateline:

BIRMINGHAM, Ala.

BIRMINGHAM, Ala.--(BUSINESS WIRE)--Protective Life Insurance Company (“Protective”) confirmed today that on October 1, 2009 it acquired the service contract business of Prizm Group, Inc. (“Prizm”), located in Denver, Colorado.

Protective, through its Asset Protection Division, is a leader in underwriting, administering and marketing products to automobile dealers, including extended service contracts, GAP coverage, and credit insurance. Prizm’s automobile and recreation vehicle service contract business served 3,000 dealerships nationwide. Protective’s subsidiary, Lyndon Property Insurance Company, has underwritten the service contract business of Prizm and its predecessor companies for approximately ten years.

“We saw Prizm as a good company that has established a quality block of business over many years,” said Brent Griggs, President of Protective’s Asset Protection Division. “Their long and successful experience administering extended service contracts tells us they are a first class organization. We very much look forward to servicing and supporting Prizm’s agents and dealers.”

Additional information about Protective Life Insurance Company and the Asset Protection Division can be found at www.protective.com.

About The Asset Protection Division of Protective

Protective’s Asset Protection Division is an operating division of Protective. The Asset Protection Division offers its products and services through automobile, marine, RV, and power sports dealers. Through this distribution, the Asset Protection Division offers consumers protection against unwanted losses they may experience after purchasing and financing major consumer assets such as automobiles, boats and recreational vehicles.

Contact:

Protective Life Insurance Company
Media Contact:
Mike Hoffey, 636-536-5731
mike.hoffey@protective.com
or
Investor Relations Contact:
Eva Robertson, 205-268-3912
eva.robertson@protective.com

Company Contact

Brittnie Bordonaro
Corporate Communications
Protective Life Corporation
(205) 268-8611
brittnie.bordonaro@protective.com

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