MCKINNEY, Texas, March 22 /PRNewswire-FirstCall/ -- Torchmark Corporation
(NYSE: TMK) announced today in a ceremony that included Texas Secretary of
State Roger Williams, that it is moving its corporate headquarters to
McKinney, Texas, from Birmingham, Alabama. McKinney, a north Dallas suburb,
has been the home of one of Torchmark's subsidiaries, United American
Insurance Company, since 1996. Torchmark plans to retain its major
subsidiaries in Birmingham; Oklahoma City, Oklahoma; and Waco, Texas.
Torchmark also announced that early this summer it will break ground on a
$27 million, 150 thousand square-foot facility at its McKinney location that
is the first stage of a major consolidation program of its subsidiaries'
marketing and administrative functions, including a centralized computer
processing and customer service center. By early 2010, the Company expects
the consolidation program will have resulted in at least 500 additional new or
relocated employees at the McKinney location. The Company currently has over
600 full-time positions at the McKinney location.
Secretary of State Williams announced at the ceremony that Torchmark will
receive $2 million from the Texas Enterprise Fund. Representatives of the
City of McKinney announced that Torchmark will receive $1.6 million from the
McKinney Economic Development Corporation, $1 million from the McKinney
Community Development Corporation and tax abatements totaling $530 thousand
over a ten year period.
Torchmark Chairman and CEO Mark McAndrew said, "We have found McKinney,
the DFW area and the State of Texas to be very conducive to the growth and
success of our businesses. With the business-friendly environment, easy
transportation access and a family-oriented community, it just makes good
business sense to consolidate our administration here."
Torchmark Corporation is a holding company specializing in life and
supplemental health insurance for "middle income" Americans marketed through
multiple distribution channels including direct response, and exclusive and
independent agencies. Torchmark has several nationally recognized insurance
subsidiaries. Globe Life And Accident is a direct-response provider of life
insurance known for its administrative efficiencies. American Income Life
provides individual life insurance to labor union members. Liberty National
Life, one of the oldest traditional life insurers in the Southeast, is the
largest life insurer in its home state of Alabama. United American is a
consumer-oriented provider of supplemental health insurance.
SOURCE Torchmark Corporation
 back to top
Related links:
http://www.torchmarkcorp.com
Company News On-Call:
http://www.prnewswire.com/comp/885425.html
CONTACT:
Joyce Lane, Vice President, Investor
Relations of Torchmark Corporation, +1-972-569-3627, or fax,
+1-972-569-3282, or jlane@torchmarkcorp.com
|
