Security National Financial Coinsures With Two Companies
Coinsurance transaction completed with Mothe Life Insurance, DLE Life Insurance.
Insurance Networking News, December 28, 2012
Security National Financial Corp. has, through its subsidiary Security National Life Insurance Co., closed on a coinsurance transaction with Mothe Life Insurance http://www.mothelifeinsurance.com and DLE Life Insurance Co.
Security National Life says it coinsured about 103,000 policies through this coinsurance agreement, with an approximate $40,000,000 of reinsured reserves. Security National Life will administer the reinsured policies.
Security National Financial adds that it conducts business in three business segments: life insurance, mortgage banking and cemetery mortuary operations. As of Sept. 30, 2012, Security National Financial Corp. had revenues of $167,599,000 and total assets of $560,760,000. Specific terms of the agreement were not disclosed.
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