Both the Mercantile Security Life Insurance Company and the Republic National Life Insurance Company, both based in Dallas, announced yesterday that their respective executive committees had authorized Mercantile Security’s merger with Republic National. Mercantile Security specializes on college student life insurance. Republic National is a general insurance company, but it does not offer coverage for college students.
The merger agreement calls for 1.1 shares of Republic National stock to be exchanged for one share of Mercantile Security stock. According to Joel T. Williams Jr., chief executive officer and chairman of the executive committee of Mercantile Security, the deal will be worth $20 million.
Mercantile Security has 1 million shares on the market, which sell for $14 to $15 over the counter. Republic National has 7.5 million outstanding shares, which are trading at around $18 per share over the counter.
Republic National is merging with the San Francisco-based Pacific National Life Assurance Company. Republic will have $9 billion in life insurance in force and $370 million in assets as a result of the mergers with Pacific National and Mercantile Security.
Who bought National Life Insurance Company?
The National Sick and Accident Association, a mutual firm, was founded in 1900 as the forerunner to National Life and Accident. It was quickly reconstituted as a stock corporation and given the name National Life. In 1982, American General Corporation purchased it.
“We Shield Millions,” was National Life & Accident’s motto. The call letters “WSM” on the Grand Ole Opry microphones represented the insurance company’s philosophy; the radio station and the Opry were controlled by National Life until the 1980s.
Is National Life insurance still in business?
Since the founding of National Life Insurance Company in 1848, our mission has been to collaborate to create a better future for each and every customer through creative financial solutions, and then to follow through on those commitments 10, 20, and 50 years later.
The company’s first death claim, that of Rowland Allen, who died in 1850 while pursuing riches in the California Gold Rush, tested the company’s financial boundaries, but the directors used their own credit to ensure the claim was paid and the promise was kept.
Since 1855, National Life has paid a dividend on all of its participating life insurance policies. National Life has provided through the Civil War, the 1918 influenza epidemic, the Great Depression, two World Wars, and, most recently, the Great Recession.
We are a self-contained corporation with a self-contained spirit. While we operate across the United States, we maintain the feel and mentality of a small firm where each and every employee is valued. We’re rooted in Main Street America, where a firm handshake still means something and trust reigns supreme.
How old is NLG?
National Life has insured everyone from celebrities to working people over the course of its 173-year history, including passengers on the Titanic and the Hindenburg, as well as victims of the 1918-19 influenza outbreak.
The Vermont Legislature established the National Life Insurance Company on November 13, 1848.
National Life began selling policies in 1850 after a period of formation, and it was only a matter of months before it faced its first claim. Rowland Allen of Ferrisburgh, Vermont, was one of the young men who set out to pursue gold in California. He purchased two insurance, each with a $500 face value.
Allen, on the other hand, died of dysentery just as the long journey around the tip of South America was coming to a close. The new National Life couldn’t afford to pay Allen’s widow $1,000 since it didn’t have enough cash on hand. However, the company’s directors and officials took out personal loans and negotiated with a local bank to settle the claims.
National Life has survived a slew of additional adversities. During the Spanish influenza outbreak of 1918-19, the business paid out over $1 million in claims while continuing to pay World War I claims.
The company grew into National Life Group, which now provides a comprehensive range of financial services. Equity Services, Inc., a broker-dealer affiliate, was established in 1968. Eight years later, National Life bought Sentinel Advisors, which currently manages the investment portfolio that backs the company’s insurance holdings. National Life bought the majority of Life Insurance Company of the Southwest (LSW) in 1996, and three years later, the remaining portion.
The member firms of National Life Group sell life insurance, annuities, and investments in every state (with the exception of New York, where LSW is not regulated).
What is the oldest life insurance company in the US?
The Philadelphia Contributionship for the Insurance of Houses from Loss by Fire, the United States’ oldest continuous insurance company, was founded in 1752. The Presbyterian Ministers Fund was created in 1759, and it was the first life insurance firm in the United States.
What happened to Pacific National Life Assurance company?
Former California Governor Leland Stanford started Pacific Mutual Life in Sacramento, California in 1868. Stanford was also the company’s first policyholder. Stanford’s widow used the money from the policy to pay for teachers when he died and his university (Stanford University) was in financial trouble. Pacific Mutual Life began offering accident insurance in 1885, which was a groundbreaking move for a life insurance firm at the time. Pacific Mutual Life joined with Conservative Life, a life insurance firm located in Los Angeles, in 1906. Pacific Mutual Life’s board of directors relocated the company to Los Angeles after the 1906 San Francisco earthquake. The company has been headquartered in Nebraska since 2005.
Is National Life Group a pyramid scheme?
National Life Group is currently facing a class action lawsuit for allegedly participating in a pyramid scheme with Premier Financial Group, which sells National Life Group universal life insurance products. The complaint was brought by the Girard Sharp law firm. Before getting life insurance from National Life Group, life insurance buyers should think about this and do additional study on the matter.
Term, whole, and universal life insurance plans are available from the company. It also has policies for children’s lives.
A.M. Best, a rating organization, has routinely given National Life Group outstanding financial strength ratings. This score implies that National Life Group is in a strong financial condition. Other rating organizations have given the life insurance company high ratings as well, though the date of those ratings is unclear from the company’s website.
While the ratings and insurance selections are favorable, prospective customers should be aware of the current lawsuit, read customer reviews, and compare National Life Group to other life insurers.
The insurance firm was founded in 1848, and its first life insurance policies were issued in 1850. The company has evolved and diversified throughout the years, now offering life insurance, annuities, retirement planning, and a variety of financial products.
Are life insurance payouts taxed?
Answer: Life insurance benefits received as a beneficiary owing to the insured person’s death are generally not includable in gross income and are not required to be reported. Any interest you receive, on the other hand, is taxable and must be reported as interest received.
Is National Life Group legitimate?
The National Life Group is the brand name for a collection of financial services firms. However, the company has received relatively few consumer complaints and has a high financial strength rating from AM Best, an insurance-focused credit rating organization.
How many steps of NLP is there?
Due to the vital requirement to interpret language, with its diverse structure, implicit meanings, sentiments, and intent, Natural Language Processing (NLP) and Natural Language Generation (NLG) have acquired relevance in the field of Machine Learning (ML). Natural Language Processing and Natural Language Generation have broken down many communication barriers between humans and computers by translating machine language into human language and allowing humans to perform previously unthinkable tasks.
NLG and NLP together enable automated assistants and tools to find meanings from raw data, and are frequently used for fraud detection and security applications. There are still technological impediments to broad adoption of NLP and NLG, but once these obstacles are overcome, AI applications are expected to drive customer apps, particularly those that deal with heavy-duty Text Analytics.
“By 2019, natural-language generation will be a regular component of 90% of modern BI and Analytics solutions,” according to Gartner. NLG and NLP are among the Top 10 Hot Artificial Intelligence (AI) Technologies, according to a 2017 Forrester survey of technologies in use or expected to be in the near future.
NLP is defined as the “process of producing meaningful phrases and sentences in the form of natural language” in Artificial Intelligence: Natural Language Processing Fundamentals. Natural Language Understanding (NLU) and Natural Language Generation are not possible with Natural Language Processing (NLG). The data input is mapped into plain language by NLU. NLG performs data extraction and retrieval, sentiment analysis, and other tasks.
Lexical (structure) analysis, parsing, semantic analysis, discourse integration, and pragmatic analysis are the five steps of NLP. Optical Character Recognition (OCR), Speech Recognition, Machine Translation, and Chatbots are some of the more well-known NLP applications.
Machine Learning training algorithms in Natural Language Processing examine millions of examples of text authored by humans, including words, phrases, and paragraphs. The training algorithms learn about the “context” of human speech, writing, and other modalities of communication by studying the examples. This training aids NLP software in distinguishing between distinct text meanings.
NLG comes before NLP in terms of processing order. NLG is a subtype of AI that turns data into natural-sounding text text that sounds like it was spoken or written by a human. Without realizing it, you’ve probably come across a lot of NLG in your daily life. NLG is working behind the scenes when you ask Alexi for a forecast or Siri for directions. Companies like Narrative Science and Automated Insights use NLG to help them deliver data storytelling at scale.
NLP takes the output and analyzes the text in context after unlocking the context buried in data and converting it to human language. NLG and NLP are working together to deliver ready-to-use conversational interfaces on top of a wide range of AI applications. Natural language production and processing are gaining traction in a variety of fields, and Alexa is only one illustration of their global success.
The technology that analyzes, translates, and organizes data into comprehensible written language is known as Natural Language Generation. NLG assists the machine in sorting through a large number of factors and placing “text in context,” resulting in natural-sounding phrases and paragraphs that follow English grammatical standards. In this connection, the KDNugget post Natural Language Generation overview – is NLG worth a thousand pictures? may be of interest. It was quite enlightening.
Data Scientists can get right into Data Analysis using NLG because they don’t have to bother about complicated data preparation processes. Arria, Narrative Science, and BeyondCore, which was recently bought by Salesforce, are some of the most well-known NLG companies on the market today. NLG suppliers are increasingly partnering with BI solution providers to deliver sophisticated solutions, according to AI, Machine Learning, NLP, and NLG: Your Basic Guide to Artificial Intelligence in Business. Matt Rauscher, Vice President of Yseop, describes the embedded-NLP functionality of the current BI platforms as follows:
“Savvy takes data from a CRM program and uses its rules engine to determine what goods a salesperson should offer to which customers based on the data, and then the NLG tool writes what they need to do and why.”