The Quiet Texans
Six bidders has temperament, last week at the Western Bancorporation, a large holding company, agreements and orders to sell off California’s first Western Bank & Trust. Of the six, a little-known Texas insurance man named Victor Troy Post, 56, showed a clear and present advantage. Bancorporation and a director said: “My offer was something unique quality to it.” Where most of the bidders proposed complex latent payment. Address Unpocketed $ 69.5 million in cash. He quickly got the first Western, which has assets of $ 612 million.
Big-game wearing a habit with this shy millionaire Dallas, margin, glasses looks like an accountant. Its success is not compatible with Texas charm or high pressure, which is little, but its canny ability to make more money than others. Troy Post happiness is calculated at least $ 70 million, and he Galantamin almost entirely in the last 16 years by investing in the seemingly bland life insurance, where he has shown an eye for business ready to enter his own words, “take off”.
Powered by law. A son of poor farmer, leave school to go to work at the post office of a bank. My 1933 had recorded $ 138, which he uses to organize the Pioneer American Life Insurance Co. in his hometown, Haskell, Texas. The state of the insurance legislation in the days favorite small local businesses and the Post, a mutual company, almost everyone in the city. The company grew rapidly during the Second World War, with the help of a decision on the Post provides GIs disallowing useless for the death in combat.
Post sold later, its share of American Pioneer for $ 37500th used the money to buy the low sale of shares of life insurance companies, which he observed were ready to move. In 1955, he bought control of American Life Insurance Co. of Birmingham, Alabama cowardly advantage of a law that allows insurance companies on their property to invest heavily in shares, including shares of other insurance companies. Insurance have their share peak with the abolition General USA wealth and standards in recent years and American Life. Sub-post, he increased the capital and surplus 2000% on $ 25.7 million, now has $ 700 million in value of insurance in force.
Grand Horizons. For its assortment companies, the post office of a company whose securities are incorporated into its horizons: Great America Corp. His fortune of $ 900 million to the USA represent the largest holding life insurance. Currently, it includes American Life, Franklin Life, Life golf (whose post monitoring bought Fellow Texans Clint Murchison and John for $ 17.5 million) and a setback with the company name stapled Amicable Life.
Post has also begun to Dabble out insurance with great success. With James Ling, head of Ling-Temco-Vought, he built a 31-story Dallas. An investment certificates referred Bank Life Insurance Fund, with a life insurance portfolio in equities last year increased its value per share of $ 5.99 to $ 13.01 for the best benefit of all U.S. investment fund. (Last net asset value per share: $ 10.75).
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