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Article: All in the Family: BancFirst Of Okla. Buys Insurance Firm.(Century Life Assurance Co.)(Brief Article)(Statistical Data Included)
- Article from:
- American Banker
- Article date:
- November 22, 2000
- Author:
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BancFirst Corp. of Oklahoma City is buying 75% of Century Life Assurance Co., its main insurance supplier, and plans to sell more of its products.
The insurer is owned by the family of the banking company's chief executive officer. The deal, which is expected to close Jan. 1, was announced Monday; the price was not disclosed.
Century Life underwrites credit life and other life products. BancFirst Corp. already sells some of its products but plans to sell a wider variety, too.
The banking company, whose $2.5 billion of assets makes it one of the state's largest, has 78 branches in 43 communities. Century Life has $23.2 million of assets and $6.4 ...