Specialty Program Group LLC is folding three established life and annuity businesses into a single division, removing their standalone presence in the market.
AgencyONE, Brokers' Service Marketing Group (BSMG), and Business Underwriters Associates (BUA) will now operate under SPG Life & Annuity, a unified national platform that consolidates the company’s life insurance and annuity distribution operations. The legacy brands will no longer function independently, though their existing relationships, expertise, and carrier partnerships will remain part of the combined structure.
The transition removes separate market identities for the three businesses, bringing their operations under one name. SPG said the integration retains the underlying capabilities developed across each firm, including carrier relationships and technical underwriting experience.
"This move isn't about changing what works, it's about strengthening it," said Chris Treanor, CEO and president of SPG. "By bringing our life and annuity businesses together under one unified platform, we are creating greater clarity in the market and expanding access to the depth of expertise and carrier relationships that define SPG. SPG Life & Annuity reflects how we continue to evolve as a fully integrated specialty platform."
The consolidated division includes more than 120 professionals and reports over $1B in annual annuity premium and more than $60M in annual life premium. The platform is licensed in all 50 states and offers life insurance, annuities, long-term care, disability, and health products.
The businesses being combined represent more than 50 years of experience serving advisors and clients. Their operations now run through a single structure with shared resources and coordinated leadership.
SPG said advisors, broker-dealers, banks, and other distribution partners will continue working with existing contacts despite the brand transition. Carrier agreements, coverage, and programs remain unchanged under the new division.
The unified platform centralizes underwriting support, case design, and access to carrier relationships. The company said this structure allows advisors to engage with a single system while maintaining continuity in service.
"This launch is about amplifying what has already made our businesses successful, strong relationships, technical depth, and a commitment to service," said Jason Lea, CEO of SPG Life & Annuity. "By operating as one unified platform, we are better positioned to support larger cases, expand advanced market capabilities, and provide advisors with seamless access to the solutions they need."
The life and annuity integration follows similar changes across SPG’s operations. In September 2025, the company combined several wholesale businesses into SPG Wholesale. In February 2026, transportation-focused units were brought together under SPG Transportation. Another February 2026 announcement outlined the integration of logistics-related firms following the acquisition of Logistiq Insurance Solutions.
These changes show a consistent approach to consolidating business lines under unified platforms while maintaining existing relationships and operational continuity.
The structure had been prepared in advance. In December 2025, SPG introduced a chief advanced markets officer role within its life and annuity operations, with Gonzalo M. Garcia tasked with leading advanced markets strategy and large-case initiatives. The role reports to Jason Lea, who leads the division.
