American General Insurance

By: EconomyWatch   Date: 26 May 2010

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American General Insurance has a very big and prospective market in the United States Of America. The American General Insurance has a very big and attractive market which includes auto insurance, housing insurance, flood insurance and many more. There are many companies which are taking great interest in American General Insurance . American General Insurance company was established in the year 1926 in Houston.

The General Corporation of America which has got its headquarter in Houston is also the parent body of the American General Life Insurance Company. This is actually known as the biggest insurance company in America. The American General Insurance Company is incorporated in the city of Houston in the year 1926 as the American General Insurance Company, a business that deals with casualties that deal with fire and casualties. Gus Sessions Wortham is the president of the institution and John W. Linkqv is the chairman of the board of directors in the company. Wortham who is native of Houston was actually educated about this business at John L. Wortham and Son Agency which was established by his father in the year 1915.

American General Insurance Company first paid dividend in the 1929 and continued to do so ever after. The American General Insurance company kept on growing during the 1930s in spite of the Great Depression that took place during this period of time. But in spite of facing this horrible economy the American General Insurance Company by the year 1936 had already gained capital and more so earned surplus which nearly exceeded a million dollars. The act of introducing variety began during the year 1939, when the American General Insurance Company constituted the company's first subsidiary company which was named the American General Investment Corporation, to provide finance in the sectors of Real Estate, Automobiles and for various other buying. By this time the American General Insurance Company had acquired the permission and license to do their business in more than 9 states across the United States Of America which helped them to have their assets which went almost over $2 million. The company also came to acquire by that time another company named Seaboard Life Insurance Company. By taking over these companies it was trying to spread its wings not only across various states but also spread its field of insurance by including different types of insurances.

The American General Company offers many types of insurances among those are housing insurance,life insurance,automobiles insurance and even flood insurance etc. many of the people do not even know about these insurance policies. Like the Flood Insurance, very little number people know about it but it is a very important insurance policy in the United States. There are many places like Florida which suffer flood every year. It is among many issues that the people of America are not well informed or possess a misconception. The Flood Insurance is needed by the home owners to mend or rather to rebuild the places where they live after the people of that place suffer floods. Most of the people think that this actually is already covered by the Home Insurance policy. But it is a misconception and many people suffer for this very misconception.

The American General Insurance Company helps people to rectify their mistakes and get the adequate insurances that they want according to their preferences under one roof. This is making the American general Insurance company a very popular one like many other American General Insurance companies.

To know more about American General Insurance Company one can go to insurance.com, investopedia.com


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