January 5, 2001 Mid-Continent Life (OK)

MCL Policies Transferred to American Fidelity

On December 19, the closing for the assumption reinsurance of Mid-Continent's insurance policies occurred. The closing results in the transfer of 128,000 Mid-Continent policies to American Fidelity Assurance Company. As part of the agreement, American Fidelity has agreed not to raise premiums on Mid-Continent's Extra-Life policies for 17 years. The agreement, which requires no guaranty association funding, substantially resolves the Mid-Continent receivership proceeding.

Additionally, on February 21, a fairness hearing will be held to determine whether final certification will be granted to plaintiffs in the class action litigation brought by Mid-Continent's policyholders against Florida Progress Corporation, and whether to approve the proposed settlement of that litigation.

Task Force Chair -Sonya Ekart;   Staff Contact - Bill O'Sullivan

North Carolina Directory Change

Due to an office move, there is new contact information for the North Carolina association. The regular mailing address: P.O. Box 10218, Raleigh, NC 27605-0218 and phone number -- 919 833.6838 remain the same. The new fax for the association is 919.833.9576 and the mailing address for overnight packages is 505 Oberlin Rd., Suite 203, Raleigh, NC 27605.

  Staff Contact - Sean McKenna

CALENDAR/CONFERENCE CALLS

January 23 National Heritage Life Trustees meeting, Orlando, FL

  Staff Contact - Sean McKenna