Torchmark Corporation Announces Change in Domicile State of Insurance Subsidiaries to Nebraska
January 04, 2008
Torchmark Corporation (NYSE: TMK) announced today that it has redomesticated two of its leading insurance subsidiaries, United American Life Insurance Company, and Globe Life And Accident Insurance Company, from Delaware to Nebraska. Torchmark plans to redomesticate other of its subsidiaries to Nebraska this year. After studying the premium tax rates in a number of states, as well as the Nebraska business climate including its skilled labor pool, it was clear to Torchmark that it would be financially advantageous to redomesticate some of its insurance subsidiaries to Nebraska.
Torchmark Corporation is a holding company specializing in life and supplemental health insurance for "middle income" Americans marketed through multiple distribution channels including direct response, and exclusive and independent agencies. Torchmark has several nationally recognized insurance subsidiaries. Globe Life And Accident, Oklahoma City, is a direct-response provider of life insurance known for its administrative efficiencies. American Income Life, Waco, Texas, provides individual life insurance to labor union members. Liberty National Life, Birmingham, Alabama, one of the oldest traditional life insurers in the Southeast, is the largest life insurer in its home state of Alabama. United American is a consumer-oriented provider of supplemental health insurance.
SOURCE: Torchmark Corporation
CONTACT: Joyce Lane, Vice President, Investor Relations of Torchmark Corporation, +1-972-569-3627, fax, +1-972-569-3282, firstname.lastname@example.org
Web site: http://www.torchmarkcorp.com/