Alliant Insurance Services, an insurance brokerage and consulting firm, agreed to acquire the retail sales agency operations of FACO, an insurance company, for $120m. "We are excited about the future of our Company following this sale of our retail insurance agency operations. With this transaction, FACO will immediately increase stockholder value and provide additional statutory surplus to our insurance companies. Going forward, our Company will be able to focus on its insurance company operations distributing non-standard automobile insurance products solely through independent agents," Ken Russell, FACO CEO.