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In January 2016, Protective Life acquired parts of the company for $661 million. [33] [34] In February 2016, the company suspended sales of annuities and life insurance, putting the existing books of business into runoff. [35] [36] In June 2016, the company sold its term life insurance platform to Pacific Life. [37]
In 1997, the company sold the life insurance division of Colonial Penn to Conseco for $460 million [9] and sold the auto insurance division of Colonial Penn to GE Capital for $950 million. [10] In 1998, the company sold Charter National Life Insurance and Intramerica Life Insurance to Allstate. [11]
The Massachusetts Mutual Life Insurance Company, also known as MassMutual, is a Springfield, Massachusetts-based life insurance company. MassMutual provides financial products such as life insurance, disability income insurance, long term care insurance, and annuities. Major affiliate includes Barings LLC.
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The Bankers Life and Casualty Company was established in 1932 as a mutual life insurance company in Chicago, Illinois. [6] In contrast to most other life insurance companies, whose costs included salaries for accountants, sales agents, officers, and actuaries, Bankers Life minimized its overhead as a means of undercutting the monthly insurance premiums of its competitors.
Protective Life Insurance Company was founded in 1907 and paid its first death claim in 1909. In 1927, Protective merged with Alabama National Insurance Company, and Alabama National's president, Samuel Clabaugh, became the president of the combined companies which continued to do business as Protective.
Prudential Financial, Inc. is an American Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance, retirement planning, investment management, and other products and services to both retail and institutional customers throughout the United States and in over 40 other countries.
F&G Annuities & Life, Inc. is a public company headquartered in Des Moines, Iowa.It primarily provides annuities, life insurance, and pension buyout services. The company was founded in 1959.
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