Heritage Life Insurance Company

Heritage Life Insurance Company

• 1957 – Founded: Heritage Life was founded as a life and disability insurer.
• 1990s – GE Ownership: Became part of GE Financial Assurance, a subsidiary of General Electric, which used it for reinsurance and specialty life products.
• 2004 – Genworth Spin-off: When GE spun off its insurance business as Genworth Financial, Heritage Life was part of the separation.
• 2012 – Acquisition: The company was acquired by its current private ownership group (based in Arizona) to operate as a reinsurance platform.
• 2015 – Strategic Shift: Shifted focus to acquiring and reinsuring blocks of annuity and life business from other carriers.
• 2019 – Acquisition: Acquired Professional Life & Casualty Company, expanding its direct-to-consumer annuity capabilities.
• 2020 – Acquisition: Acquired U.S. Financial Life Insurance Company and Heritage Life Insurance Company of the Americas, Ltd.
• 2021 – Growth: Reached over $5 billion in payments to policyholders since the 2012 acquisition.
• 2023 – Capitalization: Reported exceptional total adjusted capital levels, positioning it for further block acquisitions.
• Present – Role: Acts primarily as a reinsurance and block-acquisition vehicle, domiciled in Arizona, often working with banks and large financial firms.

Source: Heritage Life About Us

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