March 01, 2007 at 12:22 PM
American General Life Insurance Company has acquired Matrix Direct Inc.
Matrix, San Diego, is a life insurance direct marketer that was acquired by Protective Life Corp., Birmingham, Ala., in 1999 and now has 166 employees. It is licensed in 49 states and the District of Columbia.
American General, Houston, a unit of American International Group Inc., New York, has been using Matrix Direct as an agency since 2003.
The companies have not discussed the price of the deal, but they say Ron Harris, president of Matrix Direct, will keep his title and report to Rick Hollar, chairman of the life profit center and independent distribution at AIG American General.
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