Insurance company IL Group has announced that its president, David N. Stidham Jr., has acquired all outstanding shares of stock in the corporation. Stidham purchased the shares from business partner Lawrence T. Cason Jr.

IL Group provides customized lender-placed and forced-placed insurance products and services to lending institutions across the country. Stidham has been with IL Group since 1994 and became the company’s president in 2016.

“I’m thrilled to have the opportunity to continue growing IL Group and continue providing the excellent products and services our clients and business partners have come to expect from us,” Stidham said. “This is an exciting time, and I’m looking forward to expanding our client base and product lineup.”

With Stidham’s full acquisition of IL Group, Cason has announced his retirement.