United Investors Life Insurance Company

Last updated
United Investors Life Insurance Company
Type Subsidiary of Protective Life Corporation
Industry Life insurance
Founded1961
Headquarters Birmingham, Alabama
Area served
United States
Key people
John D. Johns, President and CEO
Productssupplemental health
and life insurance
Revenue US$ 397.9 million (2008)
Website http://www.uilic.com

United Investors Life Insurance Company (UILIC), based in Birmingham, Alabama, provides individual life insurance and annuity products. United Investors was founded in 1961. [1] UILIC has more than $14 billion of insurance in force (as of 7/10). There are more than 150,000 policies in force and more than 1,400 licensed Agents nationwide. (as of 7/10) The Company is a wholly owned subsidiary of Protective Life Corporation. [2]

United Investors Life Insurance Company has earned the A (Excellent) Financial Strength Rating from A.M. Best Company (as of 6/10). [3]

History

Prior to October 1981, all outstanding stock of United Investors Life was held by Waddell & Reed, Inc. (90 percent), the distributor and manager of the “United Group” of Mutual Funds, and its parent, Continental Investment Corporation (10 percent), a financial services holding company. At that time, Torchmark Corporation, through a subsidiary, acquired all three companies. In the first quarter of 1998, 81 percent of United Investors Life was acquired by affiliate company, Liberty National Life Insurance Company. The remaining 19 percent was contributed by Torchmark to Liberty National in 2006. [4] In December 2010, Torchmark sold United Investors Life to Birmingham, Alabama-based Protective Life Corporation.

Related Research Articles

Berkshire Hathaway American multinational conglomerate holding company

Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. The company wholly owns GEICO, Duracell, Dairy Queen, BNSF, Lubrizol, Fruit of the Loom, Helzberg Diamonds, Long & Foster, FlightSafety International, Shaw Industries, Pampered Chef, Forest River, and NetJets, and also owns 38.6% of Pilot Flying J; and significant minority holdings in public companies Kraft Heinz Company (26.7%), American Express (18.8%), The Coca-Cola Company (9.32%), Bank of America (11.9%), and Apple (6.3%).

Prudential Financial American life insurance company

Prudential Financial, Inc. is an American Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance, investment management, and other financial products and services to both retail and institutional customers throughout the United States and in over 40 other countries.

Axa French multinational insurance firm

Axa S.A. is a French multinational insurance firm. The head office is in the 8th arrondissement of Paris. It also provides investment management and other financial services.

Genworth Financial is an S&P 400 insurance company. The firm was founded as The Life Insurance Company of Virginia in 1871. In 1986, Life of Virginia was acquired by Combined Insurance, which became Aon plc in 1987. In 1996, Life of Virginia was sold to GE Capital. In May 2004, Genworth Financial was formed out of various insurance businesses of General Electric in the largest IPO of that year. Genworth Financial is incorporated in Virginia.

Liberty Mutual American multinational insurance company

Liberty Mutual Group is an American diversified global insurer and the third-largest property and casualty insurer in the United States. It ranks 77th on the Fortune 100 list of largest corporations in the United States based on 2019 revenue. Based in Boston, Massachusetts, and featuring the Statue of Liberty on its logo, it employs over 45,000 people in more than 900 locations throughout the world. As of December 31, 2020, Liberty Mutual Insurance had $145.377 billion in consolidated assets, $119.420 billion in consolidated liabilities and $43.796 billion in annual consolidated revenue.

Manulife Canadian multinational insurance company and financial services provider

Manulife Financial Corporation is a Canadian multinational insurance company and financial services provider headquartered in Toronto, Ontario. The company operates in Canada and Asia as "Manulife" and in the United States primarily through its John Hancock Financial division. As of December 2015, the company employed approximately 34,000 people and had 63,000 agents under contract, and has CA$935 billion in assets under management and administration. Manulife at one point serviced over 26 million customers worldwide.

Ameriprise Financial Financial services company

Ameriprise Financial, Inc. is a diversified financial services company and bank holding company incorporated in Delaware and headquartered in Minneapolis, Minnesota. It provides financial planning products and services, including wealth management, asset management, insurance, annuities, and estate planning.

Regions Financial Corporation Alabama Based Financial Services Company

Regions Financial Corporation is a bank holding company headquartered in the Regions Center in Birmingham, Alabama. The company provides retail banking and commercial banking, trust, stockbrokerage, and mortgage services. Its banking subsidiary, Regions Bank, operates 1,952 automated teller machines and 1,454 branches in 16 states in the Southern and Midwestern United States.

Great-West Lifeco Inc. is a Canadian insurance-centered financial holding company that operates in North America, Europe and Asia through five wholly owned, regionally focused subsidiaries. Many of the companies it has indirect control over are part of its largest subsidiary, The Canada Life Assurance Company; the others are managed by Great-West Lifeco U.S. LLC, a U.S. based subsidiary. Great-West Lifeco is indirectly controlled by Montreal billionaire Paul Desmarais through his stake in the Power Corporation of Canada, which owns 72% of Great-West Lifeco. The hyphen in the company's name was originally a typesetter's error.

The Hartford US-based insurance and investment company

The Hartford Financial Services Group, Inc., usually known as The Hartford, is a United States-based investment and insurance company. The Hartford is a Fortune 500 company headquartered in its namesake city of Hartford, Connecticut. It was ranked 160th in Fortune 500 in the year of 2020. The company's earnings are divided between property-and-casualty operations, group benefits and mutual funds.

Waddell & Reed American asset management and financial planning company

Waddell & Reed Financial, Inc. was an American asset management and financial planning company founded in 1937. It was a publicly traded company from 1998 to 2021, and has its headquarters in Overland Park, Kansas. It operated asset management and distribution subsidiaries, including Ivy Investment Management Company and Waddell & Reed Investment Management Company.

Protective Life Corporation is a financial service holding company in Birmingham, Alabama. The company's primary subsidiary, Protective Life Insurance Company, was established in 1907 and now markets its products and services in all 50 states. As of December 31, 2020, the corporation had more than 3,200 employees, annual revenues of $6.5 billion and assets of $127 billion. In addition to Protective Life Insurance Company, Protective Life Corporation's subsidiaries include West Coast Life Insurance Company, MONY Life Insurance Company, Protective Life And Annuity Insurance Company, ProEquities Inc./Protective Securities, and Protective Property and Casualty Insurance Company.

Globe Life is a financial services holding company listed on the New York Stock Exchange (GL) which operates through its wholly owned subsidiaries providing life insurance, annuity, and supplemental health insurance products. The company is based in McKinney, Texas.

ProAssurance Corporation, headquartered in Birmingham, Alabama, is a property and casualty company that sells professional liability insurance to doctors. The company was founded in 1976 as Mutual Assurance and was later renamed to Medical Assurance in 1997. The name "ProAssurance" was created in 2001 when Medical Assurance merged with Professionals Group. The company is currently the fourth largest medical professional liability insurance writer and has over $6 billion in assets.

Globe Life Liberty National Division, formerly Liberty National Life Insurance, located in McKinney, Texas, is a provider of life and supplemental health insurance. It provides individual coverage through home and workplace sales. Licensed in 49 states, Liberty National was founded in Birmingham, Alabama, in 1900.

Globe Life Insurance Company of New York, based in Syracuse, New York, is a subsidiary of United American Insurance Company (UA). The company is a subsidiary of Globe Life, based in McKinney, Texas.

Ronald K. Richey was the chairman, president and chief executive officer of Torchmark Corporation.

Blue Cross and Blue Shield of Alabama (BCBSAL) is a nonprofit health insurance company headquartered in Birmingham, Alabama. The company was founded in 1936, provides coverage to more than 3 million people and is a member of the Blue Cross and Blue Shield Association (BCBS). BCBSAL employs nearly 5,000 people, which includes almost 3,500 people at its corporate headquarters in Birmingham. The company also operates Cahaba Government Benefit Administrators and Cahaba Safeguard Administrators, both headquartered in Birmingham. It commands over 90 percent of the health insurance market in Alabama, a state with half a million uninsured people, one of the highest uninsured rates in the nation at 10 percent of the population.

Cadence Bank is a US-based bank with 99 branches in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. The bank is based in Atlanta, with executive and operations headquarters in Birmingham, Alabama. It is the primary subsidiary of Houston, Texas based Cadence Bancorporation, a bank holding company.

References

  1. "United Investors Life Insurance Co". Bloomberg . Retrieved 28 September 2021.
  2. "Torchmark Subsidiary to Sell United Investors Life Insurance Company". Prnewswire.com. Retrieved 28 November 2021.
  3. "Archived copy" (PDF). Archived from the original (PDF) on March 4, 2016. Retrieved January 8, 2014.CS1 maint: archived copy as title (link)
  4. Best's Insurance Reports Life/Health United States and Canada. 2009 Edition. Volume II.