BIRMINGHAM, Ala.--( BUSINESS WIRE )-- Protective Life Insurance Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), today announced a recent transaction that included four minority-owned investment banking firms for its funding agreement-backed notes (FABN) program. Protective selected CastleOak Securities, LP., Loop Capital Markets LLC, Siebert Williams Shank and Stern as active co-managers for the FABN transaction, which totaled $375 million. Citigroup Global Markets Inc., BofA Securities and Wells Fargo Securities were active bookrunners on the transaction. “With an ongoing commitment to diversifying our investor base, Protective is...
Continue reading...
BIRMINGHAM, Ala.--( BUSINESS WIRE )--Today Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), announces a new brand identity that exemplifies the Company’s 114-year commitment of putting people first, delivering on promises and striving to do more for its customers, business partners, employees and communities. The new brand leverages the potential of Protective’s name and amplifies its purpose – “because we’re all protectors” – and allows its many audiences to see themselves as part of the Protective story. “At our core, there is a protector in each of us. At Protective, we have always believed in helping more people...
Continue reading...
In 1988, researchers discovered that a mutation in a tiny worm’s genes could extend its lifespan by 50 percent. In the 33 years since, the study of healthy aging has become one of the most dynamic fields in the scientific world, as researchers translate discoveries from the intensive study of animal biology to the development of new medicines and the implementation of lifestyle changes that can help people live better, as well as longer. Today, the University of Alabama at Birmingham and Protective Life Corporation announce a partnership that will advance the science of healthy aging. Pending approval of the University of Alabama System Board of Trustees, Protective’s $2 million investment...
Continue reading...
BIRMINGHAM, Ala.--( BUSINESS WIRE )-- Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), announced today that its principal subsidiary, Protective Life Insurance Company (Protective Life), and Protective Life & Annuity Insurance Company, completed the transaction with Great-West Life & Annuity Insurance Company (GWL&A) to acquire via reinsurance substantially all of its individual life and annuity business. The transaction was announced on January 24, 2019. The transaction is expected to represent a capital investment by Protective of approximately $1.2 billion and is the company’s largest acquisition to date. The...
Continue reading...
TOKYO (Reuters) - Japan’s Dai-ichi Life Insurance Co has agreed to buy U.S. peer Protective Life for $5.7 billion, the largest acquisition by a Japanese insurer, displaying its determination to grow overseas to counter weak prospects at home. Dai-ichi Life, Japan’s second-largest private-sector life insurer, said it will issue up to 250 billion yen ($2.4 billion) in new shares to help finance the widely expected purchase of Protective Life. The Japanese insurer will retain existing management at the Birmingham, Alabama-based target, which booked premiums and policy fees of $2.98 billion and net income of $393 million in 2013. Faced with weak growth prospects at home amid Japan’s ageing...
Continue reading...
Protective Life Insurance Company has announced a realignment of responsibilities in its life insurance sales organization to enhance the focus and collaboration of its overall sales efforts. The company distributes life insurance products through Protective Life Insurance Company and through its subsidiary, West Coast Life Insurance Company, focusing on sales through independent agents, brokerage general agencies, and through institutions such as broker/dealers and financial institutions. Mark Rush, senior vice president of sales and marketing for West Coast Life, and Jeff Marsh, vice president of institutional life sales for Protective Life, will now be responsible for all life insurance...
Continue reading...
Great-West closes sale of insurance and annuity business Great-West Life & Annuity Insurance Company (GWL&A) is announcing that it has completed the sale through reinsurance of substantially all of its individual life insurance and annuity business to Protective Life Insurance Company, the primary subsidiary of Protective Life Corporation (Protective). The sale was previously announced on January 24, 2019. The closing was effective June 1, 2019. The business transferred includes bank-owned and corporate-owned life insurance, single premium life insurance, individual annuities and closed block life insurance and annuities. GWL&A will retain a small block of participating life...
Continue reading...
Protective Life Insurance Disability Claims Navigating the disability insurance policy is challenging for the average person. They are written for attorneys, not consumers. The same can be said about the insurance companies. Protective Life Insurance Company is the reinsurance company for the disability insurance business owned by Liberty Life Insurance that was purchased by Lincoln Insurance. The Great West purchase was the 57th acquisition by Protective, which itself is a wholly owned U.S. subsidiary of Dai-ichi Life Holdings. Protective Life Corporation is a huge corporation, with a large number of employees to service owners of its 8.6 million policies/contracts. One person’s...
Continue reading...
Protective Life Corporation, a wholly owned US subsidiary of Dai-ichi Life, has agreed to purchase via reinsurance all of Great-West Life & Annuity Insurance Company’s (GWL&A) individual life insurance and annuity business for $1.2bn. The transaction will be carried out by Protective Life’s subsidiaries Protective Life Insurance Company, and Protective Life & Annuity Insurance Company. The portfolio of business being acquired includes bank-owned and corporate-owned life insurance, single premium life insurance, individual annuities, and a portion of Great-West’s closed block life insurance and annuities. Following completion of the transaction, GWL&A will retain a block of...
Continue reading...
Lancaster Pollard Mortgage Company, LLC announced it has facilitated a refinancing between Protective Life Insurance Company and Agemark Corporation, which is based in Berkeley, Calif., and owns and operates assisted living (AL) and memory care (MC) facilities throughout the West and Midwest. Two of Agemark’s eight Nebraska properties—Countryhouse of Lincoln, a 37-unit memory care community, and Countryhouse of Omaha, a 38-unit memory care community—were encumbered with traditional bank debt. The principals of Agemark aimed to refinance the two facilities with long-term, non-recourse debt. “Having longstanding relationships with both Protective Life and Agemark, we were pleased to help the...
Continue reading...
