Volume IX , Number 4 Farmers and Ranchers Life (OK)

Assumption Closed

On January 21, the Oklahoma Guaranty Association closed an assumption reinsurance agreement in connection with the insolvency of Farmers and Ranchers Life Insurance Company, a Thunor Trust Company, licensed solely in Oklahoma. The assuming carrier is a new insurer created specifically for the transaction by Oklahoma Farmers Union Mutual Insurance Company, one of Oklahoma's largest property and casualty insurers. Farmers and Ranchers had been ordered liquidated on January 14th by the Oklahoma courts. The Oklahoma Association transferred approximately $7.4 million to fund the agreement.

Task Force Chair - Chuck LaShelle;   Staff Contact -

Legal Committee Claims Valuation Subgroup Meeting

On Wednesday, January 26, the Claims Valuation Subgroup of NOLHGA's Legal Committee met in Dallas to discuss GA claims to interest and post-trigger rights to premiums in the context of valuing guaranty association claims. The group is developing guidance on these issues, which will be part of its report on guaranty association claim valuation issues. The group plans to meet again in February or March.

  Staff Contact -

2000 NOLHGA Membership Dues

Invoices for 2000 dues will be mailed to members on January 28. Staff thanks all members for their participation in providing their company counts and premium data which is used in calculating member dues. Prompt payment to NOLHGA's lockbox is greatly appreciated. Please direct questions to Jay Jagolta.

CALENDAR/CONFERENCE CALLS

January 31 Compensation Committee Meeting, San Diego, CA

Jan. 31-Feb. 1 NOLHGA Board of Directors Meeting, San Diego, CA

February 1 Hotel Reservation Deadline for Tampa MPC Meeting (Phone-813.874.1234)