- 8,448
IMO, Colorado Bankers Life's decline started when they went from a simple, 1 page Term/CI combo application to multiple pages.. back in 2012. ObamaCare's high premiums and elimination of higher-deductible health plans finished the job. I used to sell a ton of CBL..and the retention was/is over 90% for all 10 years of the Term.
Anyone have relevant info on Southland National insurance company?
July 1, 2015
To: All Colorado Bankers Life Insurance Company® Field Partners
From: Joe Wieser, President and Chief Executive Officer
Re: Southland National Insurance Corporation to Acquire Preferred Financial
Corporation and Colorado Bankers Life Insurance Company
Dear Field Partners,
I am excited to announce that Preferred Financial Corporation and Colorado Bankers Life Insurance Company will be acquired by Southland National Insurance Corporation.
Southland National is the life insurance subsidiary of Eli Global, a private firm founded in 1991 and headquartered in Charlotte, North Carolina. Southland National is committed to building on Colorado Bankers Life's strong platform as part of its expansion in the insurance business and we believe this is an exciting opportunity for our company and our field partners.
No action is required on your part at this time, and there will be no changes to your contract to distribute Colorado Bankers Life products. All contracts will remain in place at the current terms following the transaction. Above all, we want to highlight that we believe this combination will enhance your ability to deliver individual life, accident and critical illness products.
Southland National will welcome Colorado Bankers Life's employees and agents into its organization, so your contacts with Preferred Financial Corporation and interactions with Colorado Bankers Life will remain the same. Following the close of the transaction, Colorado Bankers Life's operations will maintain the Colorado Bankers Life name and continue to be located in Greenwood Village, Colorado.
It is important to understand that today's announcement is just the first step in the transaction process. The transaction is expected to close in the fourth quarter of 2015, subject to customary regulatory approvals. Until that time, it will be business as usual at Colorado Bankers Life. The future is even brighter now for Colorado Bankers Life. Thank you again for all you do.
Sincerely,
Joe Wieser
President and Chief Executive Officer
Colorado Bankers Life Insurance Company
Anyone have relevant info on Southland National insurance company?
July 1, 2015
To: All Colorado Bankers Life Insurance Company® Field Partners
From: Joe Wieser, President and Chief Executive Officer
Re: Southland National Insurance Corporation to Acquire Preferred Financial
Corporation and Colorado Bankers Life Insurance Company
Dear Field Partners,
I am excited to announce that Preferred Financial Corporation and Colorado Bankers Life Insurance Company will be acquired by Southland National Insurance Corporation.
Southland National is the life insurance subsidiary of Eli Global, a private firm founded in 1991 and headquartered in Charlotte, North Carolina. Southland National is committed to building on Colorado Bankers Life's strong platform as part of its expansion in the insurance business and we believe this is an exciting opportunity for our company and our field partners.
No action is required on your part at this time, and there will be no changes to your contract to distribute Colorado Bankers Life products. All contracts will remain in place at the current terms following the transaction. Above all, we want to highlight that we believe this combination will enhance your ability to deliver individual life, accident and critical illness products.
Southland National will welcome Colorado Bankers Life's employees and agents into its organization, so your contacts with Preferred Financial Corporation and interactions with Colorado Bankers Life will remain the same. Following the close of the transaction, Colorado Bankers Life's operations will maintain the Colorado Bankers Life name and continue to be located in Greenwood Village, Colorado.
It is important to understand that today's announcement is just the first step in the transaction process. The transaction is expected to close in the fourth quarter of 2015, subject to customary regulatory approvals. Until that time, it will be business as usual at Colorado Bankers Life. The future is even brighter now for Colorado Bankers Life. Thank you again for all you do.
Sincerely,
Joe Wieser
President and Chief Executive Officer
Colorado Bankers Life Insurance Company