Royalty Capital to merge with Missouri firm

ORLAND PARK - Royalty Capital Corp. announced it plans to merge with Inspire Capital Corp. of Osage Beach, Missouri.

Terms of the merger were not announced.

Royalty Capital is a holding company engaged in raising capital and pursuing the purchase or formation of a life insurance company. Inspire Capital is a holding company that recently acquired Capital Reserve Life Insurance Co. of Jefferson City, Missouri. Capital Reserve Life Insurance is licensed to transact life insurance sales in the states of Missouri and Kansas.

"RCC shareholders will greatly benefit from the merger with ICC as it gives the company an opportunity to quickly enter the life insurance business," said John Todd, President and CEO of RCC.

John Perkins, President of ICC, added the merger "provides a tremendous opportunity for ICC shareholders as RCC will provide additional capital for growth and expansion of the life insurance operations of Capital Reserve Life Insurance Company."

The proposed merger is expected to take effect in the fourth quarter of 2016.