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Security National Financial closes First Guaranty Insurance acquisition

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Security National Financial closes First Guaranty Insurance acquisition

,through its wholly owned subsidiary SecurityNational Life Insurance Co., has completed the purchase of FirstGuaranty Insurance Co.

SecurityNational Life paid a total of about $6.8 million at the closing in considerationfor the purchase of all the outstanding shares of stock of Reppond Holding Corp.,the sole shareholder of First Guaranty, from its shareholders. Reppond Holding thenbecame a wholly owned subsidiary of Security National Life.

The completionfollows the receipt of approval from the Louisiana Department of Insurance. SecurityNational Financial said it believes it can achieve improved profitability by integratingFirst Guaranty into its existing life insurance operations.