BANKING & FINANCE - May 20, 1994
SunAmerica to Acquire Financial Services Company: The Los Angeles-based financial services company said it signed a definitive agreement to purchase Sherman Oaks-based Imperial Premium Finance from the failed Carteret Federal Savings Bank of Carteret, N.J., for an undisclosed price. Imperial Premium financed $1.5 billion in commercial property and casualty insurance premiums for businesses last year. It has $460 million in loans outstanding, operates in all 50 states and has 200 employees. SunAmerica is a $23-billion financial services company that sells long-term savings products and investments to pre-retirement savers.
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