Utah-based Security National Financial Corp. announced its plans March 22 to acquire the Baton Rouge life insurance company First Guaranty Insurance Co. for $6.8 million.
For the deal to close, it must first be approved by the Louisiana Department of Insurance.
First Guaranty had 37,069 policies in force and 320 agents as of December 31, 2015, according to the purchase agreement filed with the U.S. Securities and Exchange Commission.
In 2015, the life insurance company $724,000 loss on revenue of $8.1 million.
First Guaranty is owned by Reppond Holding Co., which is based in Ashdown, Arkansas.
