We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (15,252)
  • Industry Conferences (2)
  • Industry Job Openings (8)
  • Negative Media (132)
  • Positive Media (73)
  • Sheryl's Articles (569)
  • Sheryl's Blogs (156)
  • Wink's Articles (215)
  • Wink's Blogs (203)
  • Wink's Press Releases (88)
  • Blog Archives

  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • May 2008
  • February 2008
  • August 2006
  • National Guardian Life Insurance Company Announces Agreement to Sell Certain Closed-block Businesses

    June 17, 2020 by National Guardian Life

    MADISON, Wis.–(BUSINESS WIRE)–National Guardian Life Insurance Company (“NGL”) today announced an agreement to sell certain closed-block businesses to Prosperity Life Assurance Limited (“Prosperity Life”). The subject businesses have combined net statutory reserves of approximately $400 million and consist of life, annuity and A&H lines.

    “This transaction is a significant milestone for NGL in executing our strategic capital optimization plan and is aligned with our objective of continually improving our return on surplus and risk-based capital position,” said Knut A. Olson, NGL’s President & CEO. Proceeds from the sale will be utilized consistent with NGL’s strategic capital optimization program, including investing in our core preneed business and enhancing the services and products provided to our nationwide base of policyholders.

    “This reinsurance transaction with NGL launches Prosperity Life Assurance Limited as an emerging provider of customized and innovative reinsurance solutions to the life insurance and annuity industry,” said Nicholas von Moltke, CEO of Prosperity Life. “We are very proud to work with NGL as this transaction supports its desired capital management objectives.”

    The transaction is expected to close in mid-2020, subject to regulatory approval and the satisfaction of other closing conditions. Financial terms of the transaction were not disclosed.

    Foley & Lardner LLP are serving as legal counsel, and Grace Global Capital LLC as financial advisor, and Oliver Wyman Actuarial Consulting, Inc. as actuarial advisor to NGL. Debevoise & Plimpton are serving as legal counsel, and Milliman, Inc. as actuarial advisor to Prosperity Life.

    About National Guardian Life Insurance Company

    Established in 1909 National Guardian Life Insurance Company is an insurance company headquartered in Madison, Wis. Licensed to do business in 49 states and the District of Columbia, NGL markets preneed and individual life and annuities, as well as group markets products. NGL is rated A- (Excellent) (Positive Outlook) by AM Best. Information about NGL can be found at www.nglic.com; Facebook: Facebook.com/NGLIC and LinkedIn: https://www.linkedin.com/company/national-guardian-life-insurance-company.

    About Prosperity Life Assurance Company

    Prosperity Life Assurance Limited is a newly formed Bermuda based long-term reinsurer that offers comprehensive capital and risk management solutions to its reinsurance clients. It is affiliated with the Prosperity Life group of companies, which is an A- AM Best rated U.S. life insurance platform, principally owned by funds affiliated with Elliott Management Corporation. As of December 31, 2019, Elliot managed approximately $40.2 billion in assets. Prosperity provides a broad variety of capital and risk management solutions to its reinsurance clients, in addition to providing financial security through protection, asset accumulation and supplemental products in its consumer segment.

    NGL rating current as of 02/28/20. National Guardian Life Insurance Company is not affiliated with The Guardian Life Insurance Company of America a/k/a The Guardian or Guardian Life.

    PR62020

    Contacts

    Maria Lubick
    608.443.5284
    mdlubick@nglic.com
    Online newsroom: nglic.com/newsroom

    Originally Posted at BusinessWire on June 10, 2020 by National Guardian Life.

    Categories: Industry Articles
    currency