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BGA distribution continued as First Colony Life's primary life insurance and annuity sales channel with a sales force of more than 135,000 independent life insurance agents and brokers. On January 1, 2007, First Colony Life Insurance Company merged into Genworth Life and Annuity Insurance Company, a Genworth Financial company. [citation needed]
In June, an Ingham County Circuit Judge order the liquidation of American Fellowship Mutual Insurance Co. from a request from DIFS with the Department Director selected as liquidator. [6] On November 1, OFIR chief deputy commissioner and department's chief deputy director Annette E. Flood was appointed to head the department.
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]
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
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