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Show S. L. INSURANCE FIRM EXPANDS Life Insurance Corporation of America, established as a Utah corporation cor-poration less than two years ago, is being converted from a mutual benefit to a capital stock company, com-pany, company officials disclosed Saturday. More than half of the $400,000 authorized capital and surplus stock already has been subscribed, according to Cleo H. Bullard, president. Upon completion of the stock subscription, expected by mid-1953, the company plans to expand its operations into all the states of the Mountain West, Bullard said. At the end of its first full calendar cal-endar year, LICOA reported an annual premium income of $155,000. Today the company has more than $1,000,000 of life insurance in force, with approximately 12,000 individuals individ-uals insured and a field force of 50 active agents. Officers of the company are Bullard, Bul-lard, Ashby S. Thatcher, executive vice president Lewis R. Rich, secretary; sec-retary; Harry D. Pugsley, legal counsel; Dr. Irving Ershler, medical med-ical director, and W Adrian Wright and W. Meeks Wirthlin, directors. |