AMERICAN TRAVELLERS CORPORATION ANNOUNCES ACQUISITION
AMERICAN TRAVELLERS CORPORATION ANNOUNCES ACQUISITION BENSALEM, Pa., Nov. 18 /PRNewswire/ -- American Travellers
Corporation (NASDAQ: ATVC) today announced that it received approval from the State of California for the purchase of a book-of-business underwritten by Great Republic Insurance Company of Santa Barbara, Calif.
American Travellers Chairman John A. Powell stated that this acquisition is very exciting because it will provide the company with access to the agency force that generated the business. Most of the agents operate in the state of California where the company hopes to begin operations shortly through its recently acquired subsidiary, United General Life Insurance Company. California represents the largest market for the company's products, with approximately 3.2 million senior citizens residing in the state. This book-of-business consists entirely of long-term care policies and has an estimated total annual premium of $5.8 million. American Travellers Corporation, located in Bensalem, is engaged in the underwriting and sale of long-term care and supplemental accident and health policies. /delval/ -0- 11/18/91 /CONTACT: John A. Powell, chairman of American Travellers, 215-244-1600/ (ATVC) CO: American Travellers Corporation; Great Republic Insurance Company ST: Pennsylvania, California IN: INS SU: TNM JS-MK -- PH043 -- 4638 11/18/91 17:02 EST
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|Date:||Nov 18, 1991|
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