LOS ANGELES -- SunAmerica Inc. said it has signed a definitive agreement to acquire most of the assets of Imperial Premium Finance, an insurance premium financing company with net loan receivables of $460 million.
Imperial, a profitable nationwide lender based in Sherman Oaks, Calif., is owned by Carteret Federal Savings Bank of New Jersey, which has been in Resolution Trust Corp. conservatorship since December 1992.
SunAmerica, an investment products company with $23 billion of owned and managed assets, said it will retain Imperial's senior management led by president and chief executive officer Robert J. Cycon, who founded and has operated the company for 22 years.
