Life is better at Banner.
No matter how careful you are, or how much you think ahead, life is often unpredictable. That's what life insurance is for, planning for what you can't predict. What you can count on is the performance and strength of your insurance company. We make it our business to prepare for the unexpected so that you can get the most out of life.
The history of Banner Life Insurance Company is more than 60 years strong. Chartered in 1949 as Government Employees Life Insurance Company (GELICO), we were acquired by Legal & General Group Plc as a wholly owned subsidiary in 1981. In 1983, our name was changed to Banner Life, signifying our flagship position with Legal & General America in the United States.
Banner Life's subsidiary, William Penn Life Insurance Company of New York, joined the corporate group in 1989. Since that time, management for both companies has been consolidated at the senior level. Banner Life's national presence, William Penn's more than 45 years of brokerage experience and the operational synergy between both companies is a strong combination.
Banner's life insurance products are sold through
independent life brokerage agencies in 49 states and the District of Columbia.
Real life means keeping promises.
At year-end 2008, on a GAAP consolidated basis, Banner Life had:
Over $379 billion of life insurance in force
Over $4.6 billion in assets
An investment portfolio that is highly liquid with diversified investment grade corporate bonds and highly rated structured securities:
Capital and surplus of over $211 million
Assets equal to 119% of liabilities
While we are proud to be a member of the Legal &
General Group Plc, we take an even greater pride in our financial and management
independence. Our ratings indicate that Banner can and will honor its commitments to
policy owners...based on its own, independent financial strength. Banner has:
An A+ (Superior) rating from A.M. Best for financial strength and operating performance, the highest of Best's 10 rating categories
An AA rating from Standard & Poor's for financial strength
Banner Life's home office is located in Rockville, Maryland, just minutes away from our nation's capital.
Banner Life Insurance Company