First Trinity Financial Sees Major Growth in 2013 Earning Report
First Trinity Financial Sees Major Growth in 2013 Earning Report
TULSA, Okla. (May 23, 2014) – Tulsa based First Trinity Financial Corp (FTFC), along with its subsidiaries Trinity Life Insurance Company (TLIC) and Family Benefit Life Insurance Company (FBLIC), saw increased expansion, growth and profits in 2013, according to the company’s latest earning reports.
This marks the fourth year in a row that First Trinity Financial has reported positive earnings. Additionally, both of First Trinity Financials subsidiaries reported statutory net incomes in excess of 1 million dollars, which is vital in an insurance company’s long-term strength.
“These latest numbers continue to affirm our sustainability and strength as a company,” said Gregg Zahn, CEO of First Trinity Financial. “We are in a very secure place and are poised to continue our expansion and growth efforts in the upcoming year.”
Currently, Trinity Life Insurance Company and Family Benefit Life Insurance Company are licensed in 19 states. However, Zahn says that that FBLIC is poised to expand into more states in the coming year.
“We are seeing opportunities for growth through the south and southeastern portion of the United States and were just recently approved to conduct sales of insurance in Louisiana and North Carolina,” said Zahn. “This will only further help us serve more customers throughout the nation.”
Family Benefit Life Insurance Company currently has business applications pending in Alabama, Georgia, Mississippi, Tennessee and Virginia.
As introduced last year, part of First Trinity Financial’s strategy for growth has been their investments in insurance start-up companies utilizing the same business model as FTFC. The largest of these efforts has been FTFC’s investment in Texas holding company, Texas Republic Capital Corporation. Through First Trinity’s 500,000 shares of common stock, the company has raised a total of $10,336,500 in a series of private placements.
“Texas Republic Capital Corporation has been a tremendous investment for us,” said Zahn. “It was important to us to invest in companies that share our values and business philosophy. TRCC has proven to be one of those companies and their success speaks for itself.”
In addition to prior offerings, TRCC has recently successfully registered a $25,000,000 intrastate public offering for five million shares of common stock in Texas at five dollars per share.
“I can confidently say that 2013 year has been a landmark year for First Trinity,” said Zahn. “While it is always imperative to recognize that our economy remains fragile, I am encouraged by the prospects we see for growth in the year ahead.”
About First Trinity Financial
First Trinity Financial Corporation is an insurance holding company based in Tulsa, Oklahoma. First Trinity Financial operates two life insurance subsidiaries; Trinity Life Insurance Company, Tulsa, Oklahoma, and Family Benefit Life Insurance Company, Jefferson City, Missouri, which are focused on term life insurance, whole life insurance and annuities.
In a series of stock offerings, First Trinity Financial successfully raised $26,475,000 through Private Placement and public stock offerings. First Trinity Financial is currently owned by over 4,000 Oklahoma residents. Since inception, First Trinity Financial has dedicated itself to help stem the outflow of capital from our state by providing a broadly held Oklahoma financial services corporation offering innovative, attractive and competitive financial products and financial services.