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Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in the United States by 1989.
Columbia Mutual Insurance Company is the parent company of a group of five property and casualty insurance companies operating as the Columbia Insurance Group. The group of companies primarily focus on insuring businesses but, also, insure farms, homes and cars. The company is licensed in 30 states, with policyholders in 19 states.
On 9 October 2023, the company announced an agreement where S. USA Life Insurance Company, Inc., an affiliate of Prosperity Life Group, will acquire National Western in an all-cash transaction valued at approximately $1.9 billion. [6] The merger was completed in July 2024 with its stock being delisted from the Nasdaq. [7]
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