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National Heritage Life Insurance Company (NHLC) was an insurance company based in Orlando, Florida.It collapsed as a result of a fraud scheme, and was liquidated in 1995. [1] [2] [3] It is believed to have been the largest insurance company failure caused by criminal acts in U.S. history, resulting in $450 million of losses.
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According to Robert Sobel, First Executive was involved in 90% of Drexel's underwritings, which accounted for about $40 billion in bonds from 1982 to 1987. After the State of California took over Executive Life, it sold the company's junk-bond portfolio to Altus Finance, a unit of Crédit Lyonnais, in November 1991 for $3.25 billion.
The very first thing to watch out for with an annuity is the fees, and this could be a dead giveaway the annuity you bought is trash. ... ask a financial advisor or an attorney to review any ...
According to our recent "Keep Your Money Safe" survey, when victims of financial scams... Financial scams are running rampant. 7 Red Flags That Will Help You Avoid Financial Scammers
Beginning with its first annuities business written in 1928, the company grew to offer products for mortgage insurance, lifestyle protection, and long-term care insurance. [5] In 1986, Life of Virginia was acquired by Combined Insurance for $557 million. [5] It became Aon in 1987. [5] In 1996, Life of Virginia was acquired by GE Capital. [5] [6]
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