Executive Life Insurance Company (Calif.)

Aurora Installment Billing and Defeasance Calculation Mailed

During the week of March 9, 2003, NOLHGA mailed Aurora's twelfth installment billing to participating guaranty associations (PGAs). The bill calls for the PGAs to pay approximately $64.6 million to Aurora on or before April 30, 2003.

As reported in the February 14, 2003, issue of the NOLHGA Wire, Navigant Consulting conducted a cursory review of the bill upon receiving it in late January and noted some material exceptions, which have been corrected. The current bill reflects the initial corrections requested by Navigant. A final report by Navigant is expected in early April and will be distributed to the PGAs at that time, together with payment instructions.

Along with the twelfth installment billing, NOLHGA also distributed the 2003 defeasance calculation received from Aurora earlier this month. In accordance with the January 2002 task force decision to forgo further reviews of Aurora's defeasance calculation, there will be no analysis of the defeasance schedule by Navigant.

Task Force Chair - Art Dummer;   Staff Contact -

GA Contact Info

Robert Willis, administrator of the District of Columbia Life & Health Insurance Guaranty Association, has a new e-mail address. He can now be reached at [email protected].

  Staff Contact -

Correction

The March 7, 2003, issue of the NOLHGA Wire stated that Jim Mumford serves on the boards of the Oklahoma and Virginia guaranty associations. He also serves on the boards of the Alaska, Arkansas, Iowa, Minnesota, and New York associations.

  Staff Contact - Sean McKenna