From: Long Investing Ideas from Seeking Alpha - 6:22am - August 5, 2012By Robert Broens: Torchmark (TMK) the insurance holding company announced on Wednesday that it has signed a definitive agreement to acquire Family Heritage Life Insurance Company of America. Shares of Torchmark rallied almost 3% over the past week after the announcement of the deal. The Deal Torchmark announced that it will acquire Family Heritage Life Insurance company for a total consideration of approximately $218.5 million. Currently the supplemental health insurance provider is privately-held. Family Heritage which focuses on life insurance serves over 220,000 policy holders and employs 1,200 sales agents. In 2011 Family Heritage reported assets of $488 million, GAAP net income of $21 million on direct premiums written of $162 million. This values Family Heritage at 1.3 times annual direct premiums written and 10 times its GAAP net annual income. Torchmark'...
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