Three more companies have filed applications to operate thrifts.
Cigna Corp., the big insurer based in Philadelphia, plans to charter a thrift to market trust services primarily to its customers, according to Ed K. Ota, a lawyer for the $111 billion-asset company. INATrust, also to be based in Philadelphia, would not take retail deposits or make loans, Cigna said in its application.
First American Financial Corp., a Santa Ana, Calif.-based real estate services company, plans to convert its state-chartered bank subsidiary, First American Trust Co., to a thrift in order to offer trust services nationwide. The converted thrift would be called First American Trust.
New Jersey Manufacturers Insurance Co., West Trenton, a $3.5 billion- asset firm that sells property and casualty insurance statewide, said it would use its thrift charter to offer "innovative, value-added products and services" to current customers. The proposed thrift would be called N.J.M. Bank.
Nonbanks have 24 requests for thrift charters pending at the OTS, including 13 from insurance companies.