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First Trinity Financial Corporation Announces Signing of Definitive Agreement to Acquire Doctors Life Insurance Company

Life Insurance Split Dollar Agreement

First Trinity Financial Corporation Announces Signing of Definitive Agreement to Acquire Doctors Life Insurance Company | Document Parties: FIRST TRINITY FINANCIAL CORP | Acquire Doctors Life Insurance Company | Doctors Company | First Trinity Financial Corporation | Merger and Acquisition Services | Trinity Life Insurance Company You are currently viewing:
This Life Insurance Split Dollar Agreement involves

FIRST TRINITY FINANCIAL CORP | Acquire Doctors Life Insurance Company | Doctors Company | First Trinity Financial Corporation | Merger and Acquisition Services | Trinity Life Insurance Company

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Title: First Trinity Financial Corporation Announces Signing of Definitive Agreement to Acquire Doctors Life Insurance Company
Date: 7/27/2011

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Exhibit 99.12

 

Exhibit 99.12

Press Release of July 26, 2011 relating to announcement by First Trinity Financial Corporation of its execution of an agreement to acquire Doctors Life Insurance Company

 

First Trinity Financial Corporation Announces Signing of Definitive Agreement to Acquire Doctors Life Insurance Company

 

Tuesday, July 26, 2011

 

Tulsa, Oklahoma

 

First Trinity Financial Corporation (“First Trinity”) located in Tulsa, Oklahoma announced today that First Trinity’s wholly owned subsidiary, Trinity Life Insurance Company (“Trinity Life”), domiciled in Oklahoma, has signed a definitive agreement to acquire Doctors Life Insurance Company (“Doctors Life”), domiciled in California, with statutory assets of approximately $22 million and licensed in California, Arizona, Hawaii, Montana, Nevada, Texas and Wyoming.

 

The purchase price will be $4,500,000, subject to adjustment based upon required statutory capital and surplus.  The transaction is subject to customary regulatory approval.  Closing is anticipated to occur in December 2011.  Merger and Acquisition Services served as an advisor to the Doctors Company.

 

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