AMS Life (AZ)

Updated GA Claim Information Needed

The Arizona Receiver for AMS Life has confirmed that he plans to make an early access distribution from the AMS estate to the affected guaranty associations by the end of June 2001. Although the amount of the distribution has not yet been confirmed, the Receiver has indicated that he is reviewing updated financial records and will be filing a request for approval of early access distributions by the end of the month.

In the meantime, he has asked that all affected guaranty associations provide him with updated information regarding their claim amounts. To this end, NOLHGA on April 6 distributed to each of the affected states a spreadsheet prepared by the Receiver's office reflecting GA funding and claims, by state, as of year-end 1996. If you have not already done so, please review the funding worksheet and provide the Receiver's office with information regarding any adjustments that need to be made to the claim information for your state. That information should be sent to the attention of Mark Tharp, AMS Life Insurance Company, 300 West Osborn Road, 5th Floor, Phoenix, Arizona 85013. Mr. Tharp's fax number is 602.277.7404 as soon as possible.

Task Force Chair - Luther Hill;   Staff Contact - Joni Forsythe National Heritage Life (DE)

Closure of NHL Trust

The NHL Trust closed effective March 31, 2001. Since its inception in 1996, the Trust made nine distributions, from July 1, 1997 through March 30, 2001, totaling $220,273,075.83. Remaining assets which the Trust was unable to liquidate were transferred back to the NHL Estate. A final audited report will address the time period from January 1, 2000 through March 31, 2001.

Task Force Chair - Dan Orth;   Staff Contact - Thunor Trust Companies

Frankel Assets Auctioned

The Newark Star-Ledger recently reported on an auction of a number of Frankel assets, including a fleet of 21 automobiles, ranging from Mercedes-Benz to a Harley-Davidson motorcycle. The auction raised $757,000.

Task Force Chair - Chuck LaShelle;   Staff Contact - American Chambers Life (OH)

Omnibus Proof of Claim to be Filed

As reported at the last MPC meeting, the Ohio Liquidator has agreed that NOLHGA may file an Omnibus Proof of Claim on behalf of the 38 affected guaranty associations. That will be done in advance of the May 8 bar date. If any guaranty association would like to see a copy of the draft Omnibus POC the Task Force intends to file, please contact Meg Melusen at NOLHGA. If you have any questions about it, please contact Meg or Charlie Richardson at 202.312.7487. Copies of the Omnibus POC, as filed, will be distributed at the May MPC meeting.

In other American Chambers news, Anne Hancock may now be contacted as follows at the Westlake, Ohio office of Antares Management Services, as follows:

Anne Hancock, c/o Joan Manley, Antares Staffing 24650 Center Ridge Road, Suite 300 Westlake, OH 44145-5620 Phone (440) 414-2154, Fax (440) 414-2102

Anne indicated that the above fax number should be used for all fax correspondence from GAs.

Her schedule is provided below. She will be in the office by about 2:30 p.m. on travel days:

Travel DaysOffice Days4/24/01 4/25-26/015/1/015/2-3/015/8/01 5/9-10/015/15/015/16-17/01

Anne met with the claim management team in the Westlake office on April 17, 2001. Michelle Jones and the Downers Grove staff are in the process of finalizing the transition plan. Phone numbers, fax numbers and e-mail addresses for Westlake personnel will be provided by Antares the week of April 23rd.

Task Force Chair - Chuck Gullickson;   Staff Contact -

Conflicts and Antitrust Certifications Due

In early March, NOLHGA's Conflicts Policy and annual Conflicts Questionnaire were sent to all NOLHGA personnel and representatives, including NOLHGA's Board, staff, committee and task force members and consultants. Additionally, NOLHGA's Antitrust Policy, and annual Certification form were sent to all of the above, as well as all NOLHGA members.

Both the Conflicts Questionnaire and the Antitrust Certification forms noted a requested return date of April 15th. So far, about 80 percent of the necessary responses have been received. Those who have yet to complete and return these items are asked to do so at this time.

The responses may be submitted by fax (703.481.5209) or by mail, and should be directed to the attention of Aimee Frye at NOLHGA. Your assistance in this matter is greatly appreciated. Please contact Joni Forsythe or Aimee Frye at 703.787.4115 with any questions.

  Staff Contact - Joni Forsythe