Primerica was founded in 1977 as A. L. Williams .
In 1980, A.L. Williams entered into a contract with a larger underwriter of life insurance, The Massachusetts Indemnity and Life Insurance Company (MILICO).
In 1981, the company established First American National Corporation (later called The A.L.Williams Corporation) as a holding company for First American Life Insurance (later called A.L. Williams Life Insurance Company) and First American National Securities (later renamed PFS Investments).
In November 1988, ALWC acquired MILICO from Primerica Corporation (formerly American Can Company, not Primerica Financial Services), making Primerica Corporation the majority shareholder of ALWC.
In December of 1988, Commercial Credit acquired Primerica Corporation for $1.54 billion, retaining the Primerica name. At this time, the major businesses under Primerica Corporation included A.L. Williams, Smith Barney and Commercial Credit.
2007-03-09 06:41:39
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answer #1
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answered by BosCFA 5
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