Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

Hancock Bank Parent Wants To Write Life In 14 More States

Your article was successfully shared with the contacts you provided.

NU Online News Service, Aug. 12, 2003, 12:33 p.m. EDT – Hancock Holding Company, Gulfport, Miss., plans to acquire the ability to write life insurance in 14 more Southern and Midwestern states by buying Magna Insurance Company from Union Planters Corp., Memphis, Tenn.

Hancock, the parent of Hancock Bank, Hancock Investment Services Inc., Hancock Insurance Agency and Harrison Life Insurance Company, manages $4 billion in assets. Its Harrison Life subsidiary has licenses to write life insurance in Louisiana and Mississippi.

Magna has only $28 million in assets, but it has licenses to issue life insurance in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Missouri, North Carolina, South Carolina, Tennessee, Texas and Virginia.

Hancock says it hopes to complete the Magna deal by the end of the year and combine Magna with Harrison Life.

The price of the deal not immediately available.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.