effective 6/1/18ĭisability Income Policies & Group Life Policies changed its name to Talcott Resolution Life and Annuity Ins. Talcott Resolution Life and Annuity Insurance CompanyĪdditional Information: Hartford Life and Annuity Ins. ĪIG SunAmerica is now part of American General LifeĪdditional Information: Group flexible premium lifeĪdditional Information: Originally assumed by MBL.ĬOLI - Corporate Owned Life Insurance Policies Please contact the company/TPA listed below or the guaranty association in your state of residence for more information about your policy.Īdditional Information: First assumed by MBL Life Assurance Corporation (MBLLAC). If policies are not transferred to another company, the policies are continued and claims administered by either the guaranty associations or a third-party administrator (TPA) working on behalf of the associations. Policies of an insolvent company are often transferred to a financially sound insurance company. The company also continued to work closely with SunAmerica on the resolution of policyholder service questions arising in connection with the transfer of MBLLAC’s individual life and group pension business to SunAmerica. With respect to the transfer of its insurance and annuity businesses, MBLLAC was able to finalize two remaining open assumption transactions. An Advisory Committee comprised of representatives of the largest remaining Class Four creditors of MBL was also appointed by the commissioner. The Commissioner of Banking and Insurance of New Jersey was appointed liquidator and assumed day-to-day oversight of the operations of the company, the board of directors having been disbanded by the order. On January 12, 2000, an order for liquidation of MBLLAC was entered by the Superior Court of New Jersey. In 1999, several other assumption transactions closed: MBL’s group flexible premium life business was assumed by Integrity Life on April 30 AETNA Life replaced MBL’s block of variable annuities in pay status in a transaction that closed on July 14 and Swiss Re fully assumed MBL’s Individual disability Income (IDI) block.

The corporate-owned life insurance (COLI) business was sold to The Hartford.

In 1999, MBLLAC’s individual life insurance and individual and group annuity businesses were sold to affiliates of SunAmerica, Inc. The plan, implemented on April 29, 1994, provided for the transfer of most of Mutual Benefit’s assets and insurance liabilities to Mutual Benefit Life Assurance Corporation (MBLLAC). The company was placed in rehabilitation under supervision in mid-1991 by the New Jersey Court, which later approved a Third Amended Plan of Rehabilitation on January 28, 1994. The Mutual Benefit Life Insurance Company had a diverse set of offerings: life, health, and annuity products available to the individual, group, and business sectors.

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