RIDGELAND — Security Plan Life Insurance Company has completed the purchase of Magnolia Guaranty Life Insurance Company. On March 7, Citizens Inc. subsidiary Security Plan completed its acquisition of Magnolia of Ridgeland for $5.23 million. Security Plan paid cash in exchange for 409,553 shares of Magnolia capital stock outstanding. In response to receiving the Mississippi Department of Insurance order approving ...Read More »
Tag Archives: Citizens Inc.
RIDGELAND — Citizens Inc.’s wholly owned subsidiary, Security Plan Life Insurance Company, has reached a definitive agreement to acquire Magnolia Guaranty Life Insurance Company of Ridgeland for $5.23 million. Magnolia Guaranty has 409,553 shares of capital stock outstanding. Since 1992, it has specialized in the sale of final expense and pre-need life insurance policies in Mississippi through its funeral home ...Read More »