Continental General assumes 91,000 policies from Guaranty Associations
Continental General has completed the acquisition of two blocks of insurance policies from the state life and health insurance guaranty associations (Guaranty Associations) through transactions coordinated by the National Organization of Life & Health Insurance Guaranty Associations (NOLHGA). The transaction marks the first between Continental General and NOLHGA on behalf of the Guaranty Associations, and it is the first in a series of pending related transactions among the parties.
The acquired blocks are made up of approximately 91,000 final expense and traditional life insurance policies, annuities, and accident and health (A&H) policies. The policies were originally issued by Bankers Life Insurance Company (BLIC) and Colorado Bankers Life Insurance Company (CBLIC) and became the statutory obligation of the Guaranty Associations in 2024 following the court-ordered liquidation of BLIC and CBLIC. Effective January 1, 2026, Continental General has assumed the Guaranty Associations’ covered obligations for the CBLIC and BLIC policies, including all related liabilities and assets.
Continental General will now oversee policy administration, policyholder services and claim management on behalf of the policyholders.
“We are pleased to welcome the BLIC and CBLIC policyholders to Continental General. After working closely with the exceptional team at NOLHGA, we are confident that we are well positioned to ensure a smooth and seamless transition to top quality ongoing policy administration. We look forward to providing policyholders and their families with a stable, long-term home at Continental General.” – Michael Gorzynski, Executive Chairman of Continental General.
“The addition of this new block of policies from the Guaranty Associations will enable us to significantly expand our customer base as we continue to grow our portfolio, and it also supports our ongoing strategy to diversify our risk and product mix. Our resources and extensive experience managing, processing and administrating insurance blocks will enable us to provide our new customers with the confidence, security and reliability that they deserve.” – David Ramsey, President and CEO of Continental General.
