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November 6, 1990 | MICHAEL FLAGG, TIMES STAFF WRITER
A life insurance company owned by Irvine-based Lincoln Savings & Loan, the insolvent thrift now operated by federal regulators, said Monday that it had been sold for $31 million to a group of investors. American Founders Life Insurance Co. in Phoenix was acquired by a Nashville, Tenn., limited partnership called Financial Securities Fund, which bought a controlling interest, and the Riverside Group, a Jacksonville, Fla., insurance holding company.
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BUSINESS
November 6, 1990 | MICHAEL FLAGG, TIMES STAFF WRITER
A life insurance company owned by Irvine-based Lincoln Savings & Loan, the insolvent thrift now operated by federal regulators, said Monday that it had been sold for $31 million to a group of investors. American Founders Life Insurance Co. in Phoenix was acquired by a Nashville, Tenn., limited partnership called Financial Securities Fund, which bought a controlling interest, and the Riverside Group, a Jacksonville, Fla., insurance holding company.
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