Primerica Corp. said it was canceling an...

Primerica Corp. said it was canceling an agreement to sell its Pennsylvania Life Insurance Co. subsidiary because of its planned merger with Commercial Credit Group. Primerica announced in April that it would sell Santa Monica-based Pennsylvania Life and two affiliates to American National Insurance Co. of Galveston, Tex., for about $240 million. Last month, Primerica agreed to be acquired by Commercial Credit for $1.65 billion, mostly in stock. Primerica is engaged in financial services and specialty retailing. Its other subsidiaries include the investment firm Smith Barney, Harris Upham & Co.