Global Companies
Colorado Bankers/Bankers Life/Southland National have been in rehabilitation since June 27, 2019 and during that time have been involved in related litigation and disputes. A petition for liquidation as to Colorado Bankers and Bankers Life was filed on November 1, 2022, which was also subject to objection and opposition. Solely for the purpose of providing an estimated cost for member company guaranty association assessment accrual purposes IF any were to enter into liquidation, the information included in this report and related data file assumes 50% of the admitted assets as reported in the 2q 2022 financial statements would be made available to Guaranty Associations. NOLHGA and its consultants have NOT reviewed in detail or reached conclusions regarding the estimates, liabilities, assets or related valuations. The assumptions and estimates contained herein may change depending on the circumstances.
Penn Treaty/American Network
Penn Treaty/American Network costs by state are included in the Insolvency Costs Workbook. We have included a special memorandum containing liability estimates as of March 1, 2017, the date that the Orders of Liquidation for both companies were entered and projected cash flows both of which are included in the 2017 section below. (See “Memo re Liabilities” and “Cash Flow Estimate”).
Other
- Booker T. Washington/Universal Life Insurance Companies were moved from Estates Closed to Open Insolvencies as they are in claim run-off and guaranty associations continue to fund policies.
- Andrew Jackson Life Insurance Company was moved from Closed Insolvencies to Estates Closed.
- Senior Health Insurance Company of PA has an order of rehabilitation but is not included in this year’s report.