PRESS RELEASE: Everything is coming closer together ;-)
biz.yahoo.com
Thursday August 26, 9:50 am Eastern Time
Company Press Release
Viking Insurance Services Picks Murphy for Top Post
DALLAS--(BUSINESS WIRE)--Aug. 26, 1999--Viking Insurance Services, Inc., (VISI) a wholly owned subsidiary of Viking Capital Group, Inc., (OTC: VGCP - news), named as its president Michael K. Murphy, a insurance industry veteran with more than 25 years of experience building multi-billion dollar sales and marketing organizations for major players in insurance and financial services.
``Mr. Murphy has a long, distinguished career building national marketing organizations for a wide range of financial services products,' said William Fossen, chairman of Viking Capital Group. ``There aren't very many people who've built organizations this successful in financial services, but Michael has, and that's exactly the kind of experience needed at the helm of VISI. He also brings us a wealth of high-level connections within the selling industry - connections which should help him build a powerful organization at VISI.'
Murphy built and led a highly successful sales organization as national sales director & senior vice president at Primerica Financial Services in Houston. The group he headed generated $4.8 billion in total face value life insurance sales during his 18-year tenure. He supervised 51 senior and regional vice presidents, as well as more than 500 regional managers and sales representatives in the United States and Canada. He created an increase in annual sales production of 15 to 20 percent for 10 consecutive years, for products that included annuities, mutual funds, insurance and mortgage loans. On his watch, retention rates topped 90 percent, with 17 members of his team in the $100,000 Earners' Club.
Murphy led the consolidation of client bases when Primerica acquired A. L. Williams in 1989. Murphy trained and managed more than 400 agents in six states and Canada while working as senior vice president for the A. L. Williams organization, and consistently ranked among the top one or two percent in recruiting, training and sales production. Before A. L. Williams, Murphy worked for E.F. Hutton Financial Services of New York City.
``Viking has an outstanding business plan,' said Murphy. ``The combination of technology and value added through the service bureau concept gives us a wonderful opportunity to help marketing organizations become more efficient, responsive and competitive while giving Viking a differentiated set of products and services which we can market.'
About Viking Insurance Services, Inc.
VISI is responsible for marketing insurance products and the IP Marketer. IP Marketer, an Internet-based service bureau system, will serve sales information and gather sales status information to and from sales personnel in the field for those direct marketing organizations hosting their own, in-house databases. IP Marketer will simplify maintenance of sales commissions, submission of sales documents and access to individual client accounts via the Internet.
VISI will create its own national sales force for Viking's life products as well as offer sales services to unrelated insurance companies. Thus, VISI will sell its IP Marketer services as a service bureau, sell life insurance products via its national sales force, offer other Viking services via IP Marketer, and sell the WebNote and VidNet PC products.
VISI also plans to market the Viking Travel Plan (an emergency travel medical and evacuation plan developed by VISI for World Travelers Association, Inc.) worldwide via the Internet. VISI will serve as the Company's insurance marketing center including marketing services for other insurance carriers utilizing other Viking services such as Universal IP (data processing and administration).
About Viking Capital Group, Inc.
Viking Capital Group, Inc., head office in Dallas, is creating a group of streamlined companies to provide specialized administration services, using proprietary technology to reduce costs and improve quality of service to insurance companies, banks and other financial institutions. Simultaneously, the Company plans to purchase and manage its own portfolio of insurance Company assets. The Company's strategic goal is to acquire $1.5 billion in insurance managed assets through the purchase of existing life insurance companies. Viking is a fully reporting SEC Company and is traded on the OTC - BB market under the symbol VGCP. Contact Viking on the World Wide Web. vcgi.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995.
Certain statements made by the Company which are not historical facts may be considered forward-looking statements, including, without limitations, statements as to trends, management's beliefs, expectations and opinions, which are based on a number of assumptions concerning future conditions that may ultimately prove to be inaccurate. Such forward-looking statements are subject to risks and uncertainties and may be affected by various factors which may cause actual results to differ materially from those in the forward-looking statements.
Among the factors that could cause actual results, performance or achievement to differ materially from those described or implied in the forward-looking statements are general economic conditions, competition, potential technology changes, changes in or the lack of anticipated changes in the regulatory environment in various countries, the ability to secure partnership or joint-venture relationships with other entities, the ability to raise additional capital to finance expansion, and the risks inherent in new product and service introductions and the entry into new geographic markets.
For further information which could cause actual results to differ from the Company's expectations, as well as other factors which could affect the Company's financial statements, please refer to the Company's report filed with the Securities and Exchange Commission.
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Contact:
Ackermann Public Relations
Media Contact: Robert Cathey, 423/584-0550
rcathey@ackermannpr.com
or
Viking Capital Group Inc., Dallas
Investor Contact: Matthew W. Fossen, 972/386-9996
mfossen@vcgi.com
Regards,
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