Banner Life Insurance Company

Headquarters:

1701 Research Blvd., Rockville, MD 20850

Website:

www.lgamerica.com

About:

Life is better at Banner. No matter how careful you are, or how much you think ahead, life is often unpredictable. That´s what life insurance is for. Planning for what you can´t predict ... life´s little surprises. What you can count on is the performance and strength of your insurance company. We make it our business to prepare for the unexpected so that you can get the most out of life.

At Banner Life, we take our financial promises seriously. We also promise to treat our customers fairly and to apply ethical standards to every business transaction. We believe in offering low-cost, innovative products and responsive service. Our goal is to build lasting, mutually beneficial partnerships for life.

History:

The history of Banner Life Insurance Company is more than 50 years strong. Chartered in 1949 as Government Employees Life Insurance Company (GELICO), we were acquired by Legal & General Group Plc as a wholly owned subsidiary in 1981. In 1983, our name was changed to Banner Life, signifying our flagship position with Legal & General America in the United States.

Banner Life´s subsidiary, William Penn Life Insurance Company of New York, joined the corporate group in 1989. Since that time, management for both companies has been consolidated at the senior level. Banner Life´s national presence, William Penn´s nearly 40 years of brokerage experience and the operational synergy between both companies is a strong combination.

2010 Financial Portfolio:

  • Over $415 billion of life insurance in force
  • Over $6.3 billion in assets
  • As of December 31, 2010, Banner has:
  • Portfolio is 98% investment grade.
  • Mortgage Backed Securities (MBS) holdings are 83% A or better and 60% AAA.
  • Collateral Mortgage Backed Securities (CMBS) holdings are 98% A or above with 70% AAA.
  • Asset Backed Securities (ABS) holdings are diversified with 96% AAA.
  • No exposure to mortgage loans.
  • No exposure to equities.
  • No exposure to collateralized debt obligations (CDOs).
  • No exposure to collateralized loan obligations (CLOs).
  • No exposure to credit default swaps (CDS).
  • No owned real estate.
Company Rating:
 Agency Rating Description
 A.M. Best A+ Superior
 Standard & Poor´s A+ Strong
 Moody´s A2 Good

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