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March 03, 2009 at 07:00 PM
A financial services company is expanding its life insurance operations.
Security National Financial Corp., Salt Lake City, Utah, has completed efforts to acquire Southern Security Life Insurance Company Inc., Louisville, Miss.
Security National has life insurance, mortgage banking and cemetery mortuary divisions. It is reporting $2.7 million in profits on $167 million in revenue for the first 3 quarters of 2008.
Southern Security, the largest direct writer of industrial insurance in Mississippi, reported a net loss of $496,010 for 2007 on $4.2 million in revenue, on a statutory accounting principles basis. The company ended 2007 with $24 million in capital and $757,618 in surplus.
