Austin-headquartered insurer, Continental General Insurance Company, has acquired two blocks of insurance policies, made up of approximately 91,000 final expense and traditional life insurance policies, annuities, and accident and health (A&H) policies from the state life and health insurance guaranty associations (Guaranty Associations).
The transactions are coordinated by the National Organisation of Life & Health Insurance Guaranty Associations (NOLHGA) and mark the first between the parties on behalf of the Guaranty Associations. It is the first in a series of pending related transactions among the parties.
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 the two companies.
Effective January 1st, 2026, Continental General has assumed the Guaranty Associations’ covered obligations for the CBLIC and BLIC policies, including all related liabilities and assets.
Through this transaction, the policyholders stand to benefit from Continental General’s specialised expertise in managing financial risk, which will now oversee policy administration, policyholder services, and claim management.
Michael Gorzynski, Executive Chairman of Continental General, commented, “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.”
David Ramsey, President and Chief Executive Officer of Continental General, added, “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 administering insurance blocks will enable us to provide our new customers with the confidence, security and reliability that they deserve.”
