Advertisement

BRIEFLY

Mission Insurance will get a new parent company.

March 14, 1985

In a letter to state insurance commissioners, Ray D. Johnson Jr., president of Los Angeles-based Mission Insurance Group, said the infusion of about $75 million of new capital from holdings controlled by its principal shareholder, American Financial Corp., will result in a "somewhat different" corporate structure. Transport Indemnity Co., an AFC subsidiary whose assets are to be transferred to Mission, will be renamed to be "more closely identifiable with" Mission. It will also become the parent of Mission Insurance Co. and its subsidiaries while remaining under the group umbrella.

Advertisement
Los Angeles Times Articles
|
|
|