Security National Financial Corporation, through its wholly owned subsidiary, Security National Insurance Company, has completed the acquisition of Capital Reserve Life Insurance Company, located in Jefferson City, Missouri.
Security National and Capital Reserve further entered into an agreement to reinsure the majority of the in force business of Capital Reserve to Security National. As a result of that agreement, certain insurance business and operations of Capital Reserve will be transferred to Security National, including all policies in force as of the date of the agreement.
Jason Overbaugh, national sales director Security National, said: This continues our strategy, in our life segment, of growth through acquisition and direct writings. We continue to double both our asset size and premium writings every five years. Combining with a company such as Capital Reserve gives us a much better presence in the attractive mid-west markets.