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Citizens Inc Reports Acquisition Of Magnolia Guaranty Life

Monday, 7 Oct 2013 06:29pm EDT 

Citizens Inc announced that its wholly owned subsidiary, Security Plan Life Insurance Company has reached a definitive agreement to acquire Magnolia Guaranty Life Insurance Company (Magnolia Guaranty) of Ridgeland, Mississippi, for $5.23 million. Magnolia Guaranty has 409,553 shares of capital stock outstanding. Closing is expected during the fourth quarter of 2013, following completion of requisite due diligence and regulatory approvals. 

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