Durrett: Life Insurance Industry Gives State Growth Opportunity

Article excerpt


By Nancy Raiden Titus The life insurance industry provides Oklahoma with an opportunity for growth, according to William E. Durrett.

``There are 57 life insurance companies domiciled in Oklahoma,'' he said. ``An additional 700 are licensed in the state of Oklahoma. We have a good opportunity for economic growth in the industry. We are a well-kept secret.''

Durrett is chief executive officer of American Fidelity Corp. and 1990 chairman of the Oklahoma City Chamber of Commerce.

His comments were part of an appreciation luncheon on Tuesday given for bosses and members of the Oklahoma City Chapter of the Life Insurance Company Office Management Association (LICOMA). The group's annual luncheon also featured an awards ceremony.

The association is an organization for management and support staff of the life insurance industry.

Durrett told the group some of the accomplishments of the Oklahoma City Chamber of Commerce during the past year. One such accomplishment was that the chamber exceeded its goal of creating 2,000 new jobs in the city. The group helped to bring in 2,500 jobs, he said.

One of the items high on the agenda for the chamber in the future is to establish a positive image for Oklahoma City across the country.

Durrett, who also serves on the public relations policy committee of the American Council of Life Insurance, encouraged members of the association to take pride in their industry.

He said life insurance companies have $12.5 billion invested in Oklahoma. …


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