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Corporate changes: the consolidation of the life/health industry continued in 2002. (Corporate Changes: Life/Health).

The pace of consolidation slowed down in the life/health industry in 2002, as the number of mergers dropped to 24, compared with 29 in 2001. In 2002, 24 companies changed their names and five companies ceased operation. The number of redomestications was up with 10 companies moving compared with six companies in 2001.

All changes occurred in 2002, unless otherwise noted.

Mergers and Retirements

All American Life Insurance Co., Springfield, Ill., was merged into American General Life Insurance Co.

Ameribest Life Insurance Co., Atlanta, was merged into Equitable Life Insurance Company of Iowa during 2003.

American Capital Life Insurance Co., Washington, D.C., was dissolved.

American Franklin Life Insurance Co., Springfield, Ill., was merged into Franklin Life Insurance Co.

American General Life Insurance Company of New York, Syracuse, NY, was merged into United States Life Insurance Co.

American General Life Insurance Company of Pennsylvania, Reading, Pa., was merged into American General Assurance Co.

American Resources Life Insurance Co., West Des Moines, Iowa, was dissolved.

Clarica Life Insurance Co., Waterloo, Ontario, Canada, was merged with Sun Life Assurance Company of Canada in December.

Delta Life and Annuity Co., Topeka, Kan., was merged into American Investors Life Insurance Co. Inc.

First Columbine Life Insurance Co., Denver, was merged into Security Life of Denver Insurance Co.

First Golden American Life Insurance Company of New York, Woodbury, N.Y, was merged into ReliaStar Life Insurance Company of New York.

FirstReturn Insurance Co., Weilesley, Mass. Effective Jan. 1, the company merged into an affiliate, HPHC Insurance Co., formerly known as Harvard Pilgrim Insurance Co. Inc.

Franklin life Insurance Co., Springfield, Ill., was merged into American General Life insurance Co.

General Life Insurance Co., Austin, Texas, was merged into General American Life Insurance Co.

Great Florida Life Insurance Co., Miami, surrendered its license.

Inter-State Assurance Co., West Des Moines, Iowa, was merged into Protective Life insurance Co. in July.

Investors Life Insurance Company of Indiana, Indianapolis, was merged into Investors Life Insurance Company of North America.

Keyport Benefit Life Insurance Co., Purchase, N.Y was merged into Sun Life Insurance &Annuity Company of New York.

Life USA Insurance Co., Minneapolis, was merged into Allianz Life Insurance Company of North America.

Lincoln National Reassurance Co., Fort Wayne, Ind., was merged into Swiss Re Life & Health America Inc. during 2003.

Manufacturers Life Insurance Company of North America, Wilmington, Del., was merged into manufacturers Life insurance Co.

Manulife Reinsurance Corp. (U.S.A.), Bloomfield Hills, Mich., was merged into Manufacturers Life Insurance Company USA.

Midland Life Insurance Co., Columbus, Ohio, was merged into Reassure America Life Insurance Co. in January.

Northern Life Insurance Co., Seattle, was merged into ReliaStar Life Insurance Co.

Old Line Life Insurance Company of America, Milwaukee, was merged into American General Life Insurance Co.in 2003.

Regal Life Insurance Co., Gaithersburg, Md., was merged into Investors Heritage Life Insurance Co.

Stonebridge Insurance Co., Milwaukee, was merged into J.C. Penney Life Insurance Co.

Swiss-Am Reassurance Co., Wilmington, Del., was merged into Swiss Re Life & Health America Inc.

Transamerica Insurance Corp., Cedar Rapids, Iowa, was dissolved.

Unilife Insurance Co., Phoenix, was merged into Compbenefits Insurance Co.

Westwood Life Insurance Co., Phoenix, was dissolved.

White River Valley Insurance Co., Batesville, Ark., was merged into Citizens Fidelity Insurance Co.

Name Changes

Aetna Insurance Company of America, Tampa, Fla., changed its name to ING Insurance Company of America.

Aetna Life Insurance Company of America, Hartford, Conn., changed its name to ING Life Insurance Company of America.

Aid Association for Lutherans, Appleton, Wis., changed its name to Thrivent Financial for Lutherans.

American General Annuity Insurance Co., Amarillo, Texas, changed its name to AIG Annuity Insurance Co.

Anchor National Life Insurance Co., Phoenix, changed its name to AIG SunAmerica Life Assurance Co.

CGU Life Insurance Company of America, Wilmington, Del., changed its name to Aviva Life Insurance Co. in 2003.

CGU Life Insurance Company of New York, Buffalo, N.Y, changed its name to Aviva Life Insurance Company of New York in 2003.

Conseco Direct Life Insurance Co., Philadelphia, changed its name to Colonial Penn Life Insurance Co.

First Standard Security Insurance Co., New Castle, Del., changed its name to Independence American Insurance Co.

J.C. Penney Life Insurance Co., Rutland, Vt., changed its name to Stonebridge Life Insurance Co.

LifeWise, a Premera Health Plan Inc., Portland, Ore., changed its name to LifeWise Health Plan of Oregon Inc.

Lincoln National Health & Casualty Insurance Co., Fort Wayne, Ind., changed its name to Fort Wayne Health & Casualty Insurance Co.

Lyndon Life Insurance Co., Schaumburg, Ill., changed its name to XL Life Insurance and Annuity Co.

Methodist Health Insurance Co., Houston, changed its name to Unicare Health Insurance Company of Texas.

Mid-Continent Life Insurance Co., Oklahoma City, changed its name to Mid-Continent Preferred Life Insurance Co.

Ministers Life Insurance Co., St. Paul, Minn., changed its name to Securian Life Insurance Co.

OakRe Life Insurance Co., Jefferson City, Mo., changed its name to Preservation Life Insurance Co.

The Oath--a Health Plan for Alabama Inc., Birmingham, Ala., changed its name to HealthSpring of Alabama Inc.

Preferred Life Insurance Company of New York, New York, changed its name to Allianz Life Insurance Company of New York in 2003.

Provident Mutual International life Insurance Co., Newark, Del., changed its name to Nationwide Life Insurance Company of Delaware.

Provident Mutual Life Insurance Co., Berwyn, Pa., changed its name to Nationwide Life Insurance Company of America.

Providentmutual Life and Annuity Company of America, Newark, Del., changed its name to Nationwide Life and Annuity Company of America.

Savings Bank Life Insurance Co., East Hartford, Conn., changed its name to Vantis-Life Insurance Co.

SBLI USA Financial Services Life Insurance Co. Inc., Phoenix, changed its name to S. USA Life Insurance Co. Inc.

Trigon Insurance Co., Richmond, Va., changed its name to Anthem Health Plans of Virginia.

UDC of Michigan Inc., Novi, Mich., changed its name to United Dental Care of Michigan Inc.

Western Diversified Life Insurance Co., Springfield, Ill., changed its name to American Specialty Health Insurance Co. in 2003.

Zurich Kemper Life Insurance Company of New York, New York, changed its name to Zurich Life Insurance Company of New York.

Redomestications

Acacia National Life Insurance Co., Falls Church, Va., was redomesticated from Virginia to the District of Columbia.

Allmerica Financial Life Insurance & Annuity Co., Dover, Del., was redomesticated from Delaware to Massachusetts.

American Public Life Insurance Co., Jackson, Miss., was redomesticated from Mississippi to Oklahoma.

Appalachian Life Insurance Co., Huntington, W. Va., was redomesticated from West Virginia to Ohio.

Delta Dental Insurance Co., Oak Brook, Ill., was redomesticated from Illinois to Delaware.

John Alden Life Insurance Co., Plymouth, Minn., was redomesticated from Minnesota to Wisconsin.

Lyndon Life Insurance Co., St. Louis, was redomesticated from Missouri to Illinois.

Mid-Atlantic Vision Service Plan Inc., Columbia, Md., was redomesticated from Maryland to Virginia.

United Life & Annuity Insurance Co., Dallas, was redomesticated from Texas to Iowa.

Universal Life Insurance Co., Memphis, Tenn., was redomesticared from Tenneasee to Alabama.
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Publication:Best's Review
Geographic Code:1USA
Date:Jun 1, 2003
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