Word: greatamerica
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Dates: during 1962-1962
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Greater Horizons. From his assorted holdings, Post created a company whose title is fitted to his horizons: Greatamerica Corp. Its assets of $900 million make it the U.S.'s biggest life insurance holding company. Currently, it embraces American Life, Franklin Life, Gulf Life (whose control Post bought from Fellow Texans Clint and John Murchison for $17.5 million) and a company with the lapel-clutching name of Amicable Life...
...with $138 in cash, formed his own insurance company. Within eleven years he had $40 million worth of life policies in force and began extending his interests to banks, electronics-and other insurance companies. Currently, he is planning his most ambitious venture yet: creation of the Greatamerica Corp., which, with more than $1 billion in assets, will rank as the nation's largest insurance-management company. To begin with, Greatamerica will manage three Post-controlled companies-American Life, Gulf Life, and Franklin Life-but before he is through. Post hopes to add as many as ten more companies...