JACOBS FINANCIAL GROUP (OTCMKTS:JFGI) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01 Completion of Acquisition or Disposition of Assets
On October 9, 2017 the Registrant completed a transaction which resulted in the Registrant’s ownership of 10% of the common shares (non-voting) of BritAmerica Management Group, Inc., (BMG) is a closely held parent company with a 50% owned subsidiary, BMG Insurance Brokers Ltd., an accredited Lloyd's Broker. BMG is a specialist Managing General Agent and Wholesale Broker with a business focus offering international pet and equine insurance, operating from offices located in United States and United Kingdom.
The transaction was accomplished as compensation for consulting services in the placement of surety bonding for the benefit of BMG.
About JACOBS FINANCIAL GROUP (OTCMKTS:JFGI)
Jacobs Financial Group, Inc. is engaged in retirement and financial planning, business succession planning, long-term care, group and individual health insurance. The Company operates through two segments: investment advisory services, and surety insurance products and services. The Company’s subsidiaries include FS Investments, Inc. (FSI), Jacobs & Company (Jacobs & Co.), First Surety Corporation (FSC) and Crystal Mountain Spring Water, Inc. (CMW). FSI is a holding company. FSI, through its subsidiary Triangle Surety Agency, Inc. (Triangle), is engaged in the business of placing surety bonds with insurance companies for clients engaged in regulated industries, such as the extraction of coal, oil and gas. Jacobs & Co. provides fee-based investment advisory services to institutions, companies and individuals. FSC is a property and casualty company. CMW has an undeveloped leasehold interest in a mineral water spring located near Hot Springs, Arkansas.