Security National Financial Corp., based in Salt Lake City, has closed on its acquisition of Capital Reserve Life Insurance Co., based in Jefferson City, Mo.
Terms were not disclosed.
The companies entered into an agreement to reinsure most of the in-force business of Capital Reserve to Security National. As a result of that agreement, certain insurance business and operations of Capital Reserve will be transferred to Security National, including all policies in force as of the date of the agreement.
At the end of 2006, Capital Reserve had nearly 11,000 policies.
Security National is involved in life insurance, mortgage banking and cemetery and mortuary operations.