OKLAHOMA CITY, June 10, 2014 /PRNewswire/ -- Oklahoma Insurance Commissioner John D. Doak has approved the re-domestication of Individual Assurance Company, Life, Accident and Health (IAC) from Missouri to Oklahoma. IAC President and CEO Jim Harlin said he plans to bring new business and jobs to the state within the next year.
"We consider this great news for the insurance industry in our state and are thrilled that IAC has chosen to create jobs in Oklahoma," said Doak. "We are also excited to have Jim Harlin become a corporate citizen in our state. His stellar reputation in the insurance industry is widely recognized. This is a win-win for Oklahoma."
Re-domestication was approved during a hearing held at the Oklahoma Insurance Department on June 4. IAC has purchased a building for its headquarters and expects to create new employment opportunities in the coming months. Harlin said his company will focus on the senior market in the life insurance and Medicare supplement businesses. IAC's presence in Oklahoma will create more choices for consumers in the competitive insurance environment and drive the economy forward.
"We are excited about growth in Oklahoma for many reasons, including the positive business environment in the state and the solid Oklahoman employee base," said Harlin. "Oklahomans have a strong work ethic and we look forward to growing together."
IAC is licensed in 43 states.
About the Oklahoma Insurance Department
The Oklahoma Insurance Department, an agency of the State of Oklahoma, is responsible for the education and protection of the insurance-buying public and for oversight of the insurance industry in the state.
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SOURCE Oklahoma Insurance Department