Continental General Acquires Insurance Policies from Guaranty Associations
Continental General Finalizes Acquisition of Insurance Policies from Guaranty Associations
Continental General Insurance Company has successfully completed the acquisition of two insurance policy segments from state life and health insurance guaranty associations. This acquisition, facilitated by the National Organization of Life & Health Insurance Guaranty Associations (NOLHGA), marks an important collaboration between Continental General and NOLHGA in representing guaranty associations. This transition underscores Continental General's commitment to navigating complex regulatory compliance requirements effectively.
Expanding Policy Portfolio and Enhancing Policyholder Services
The acquired portfolio comprises approximately 91,000 insurance policies, including final expense, traditional life insurance, annuities, and accident and health policies. These policies, originally issued by Bankers Life Insurance Company and Colorado Bankers Life Insurance Company, became insolvent, transferring obligations to the guaranty associations. Effective January 1, 2026, Continental General has assumed responsibility for these obligations, along with related liabilities and assets, enhancing its position in risk management and claims processing.
Michael Gorzynski, Executive Chairman of Continental General, expressed optimism regarding the transition: "We are pleased to welcome the BLIC and CBLIC policyholders to Continental General. Our partnership with NOLHGA has strategically positioned us to ensure a smooth transition, maintaining excellence in policy administration for our new clients."
Commitment to Stability and Growth
David Ramsey, Continental General's President and CEO, emphasized, "This acquisition expands our customer base and aligns with our strategy to diversify our risk and product offerings. Our extensive experience in underwriting and managing insurance portfolios will provide the new policyholders with enhanced security and dependability." This acquisition showcases Continental General's dedication to stability and reliability within the insurance industry.
About Continental General
Headquartered in Austin, Texas, Continental General has been delivering reliable insurance solutions since 1961. Operating across forty-nine states, the District of Columbia, and the U.S. Virgin Islands, the company functions under Continental General Holdings, LLC, encompassing various subsidiaries. For further inquiries, please contact Kate Sylvester at ContinentalGeneral@longacresquare.com.
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