Protective Life Corporation, a subsidiary of Japan-based Dai-ichi Life Holdings, announced that it has entered into an agreement to acquire Portfolio Holding, Inc. from Abry Partners, according to the company’s October 30, 2025 press release.
The move will expand Protective’s finance and insurance (F&I) capabilities across automotive, RV, powersports, and marine sectors, enhancing solutions for dealers nationwide.
The acquisition integrates Portfolio’s dealer participation programs and technology platform into Protective’s Asset Protection Division, which serves more than 10,000 dealerships.
For RV dealers, the acquisition could expand access to new reinsurance options, F&I products, and customer-retention tools backed by Protective’s long-established claims infrastructure.
“Portfolio is a natural fit for Protective—not only for its complementary offerings, but for its shared commitment to innovation and dealer success,” said Scott Karchunas, president of Protective’s Asset Protection Division, in the October 30 release.
“Together, we’re expanding what’s possible in F&I and reinforcing our commitment to long-term value for our partners and their customers.”
Founded in 1990, Portfolio specializes in reinsurance management services and F&I products for dealers, including vehicle service contracts, GAP coverage, and ancillary protection plans.
The California-based company employs about 450 people and maintains offices in Dallas and Cleveland.
Portfolio chief executive officer Jeremy Lux said the partnership will help scale its dealer offerings.
“Abry Partners has been an outstanding partner in accelerating our growth and innovation capabilities,” Lux said.
“Now, through Protective’s established network and market expertise, we have a powerful platform to enable us to deliver our proven solutions to a broader dealer base.”
Protective Asset Protection has offered F&I programs since 1962 and reported 10.9 million in-force vehicle protection plans with $7.2 billion in paid claims as of early 2025.
The division has grown through previous acquisitions of AUL, Revolos, and U.S. Warranty, each contributing to its expanded dealer service network.
Protective president and CEO Rich Bielen said the purchase represents the company’s 61st acquisition and the eighth since joining Dai-ichi Life in 2015.
“Portfolio brings a strong track record in dealer wealth programs and a deep understanding of what it takes to help dealers succeed,” Bielen said.
The companies expect the transaction to close by the end of 2025, pending regulatory approvals and customary conditions. Until closing, Protective and Portfolio will continue to operate independently.
What it Could Mean for RV Dealers
For RV dealers, the acquisition could broaden access to customizable F&I programs, reinsurance structures, and participation models that support long-term dealership wealth.
Integration with Portfolio’s technology platform may streamline training and service administration, while Protective’s claims experience offers operational stability.