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

Devlin Attracts Investment From Granite Quarry

Your article was successfully shared with the contacts you provided.

NU Online News Service, July 6, 2004, 1:15 p.m. EDT

Robert Devlin, the former chairman of American General Corp., Houston, is getting financing from a company that sells granite tombstones.[@@]

Rock of Ages Corp., Concord, N.H., a publicly traded granite quarry, has agreed to invest $3.5 million to buy an 8% stake in FFS Holdings Inc., New York.

Devlin, the chairman of FFS, formed the company to make investments in the insurance industry and related industries. FFS recently announced the completion of a $280 million deal to acquire Forethought Financial Services Inc., Batesville, Ind., a large funeral insurance company.

Douglas Schair, the former chief investment officer of Life Re Corp., Stamford, Conn., is the vice chairman of FFS, and he holds 18% of FFS’ voting shares. Schair also sits on the board of Rock of Ages, and he holds 12% of Rock of Ages’ common stock, FFS says.


© 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.