Austin, Texas — Financial Industries Corp. announced that in connection with its review of strategic alternatives, which resulted in the previously announced agreement and plan of merger pursuant to which Kansas City, Mo.-based Americo Life Inc. is expected to acquire FIC in the second quarter of this year, it also determined that it will immediately cease underwriting new insurance policies.
Related to this decision, Austin, Texas-based FIC terminated its agreements with certain independent insurance agents. In addition to managing its existing block of insurance policies, FIC will continue to earn commissions on policies sold by agents appointed with its subsidiary ILG Sales Corp. under marketing agreements with unrelated insurance companies.
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