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Security National Life acquires Kilpatrick Life

Security National Financial Corp., through subsidiary Security National Life Insurance Co., purchased all the outstanding common shares of Shreveport, La.-based Kilpatrick Life Insurance Co.

The closing of the transaction was subject to approval by the Louisiana Department of Insurance of the change of control of Kilpatrick Life, which was received Dec. 12.

Security National Financial, through a subsidiary, on Oct. 11 entered into a stock purchase agreement to acquire all the outstanding common shares of Kilpatrick Life. Under the terms of the transaction, Security Life paid $23.8 million for the shares.