BANKING: Off the Sidelines

As president of Transamerica Corp., close cropped, drawling Sam Husbands, 59, not only runs the world's biggest bank holding company, but a profitable sideline: insurance. The sidleine was set up by Transamerica's late great founder, A. P. Giannini, when he discovered how easy it was to sell insurance to people who came to his banks. Last year Transamerica's three insurance companies earned $5.6 million, nearly as much as the company earned ($7.9 million) through its majority-controlled banks. Encouraged, early this year Husbands picked up a fourth insurance company.*

But Transamerica, which could insure its customers against death...

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