Millenium Holding Group Inc. of Lincoln, Neb. has acquired Stanford Life Insurance, a Lincoln-based licensed insurance agency, from Richard Ham, Millenium president as well as the beneficial owner of the majority of Millenium’s stock.
“The company was in need of an insurance agency with a substantial following and this particular agency has over 1,200 clients and is authorized to represent 11 insurance companies,” Ham said. “The base of business represented by this agency coupled with the clients associated with soon-to-be-acquired Stanford Life Insurance will give us a good basis with which to launch the first Internet Insurance Company.”
The agency was purchased with restricted common shares.
Millenium Holding Group, Inc. is actively pursuing the creation of an Internet National Bank and an Internet Insurance Company. It is also exploring the possibility of forming or acquiring a Broker Dealer in order to service the securities market.
Topics Mergers & Acquisitions
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