Continental General Insurance Company announced it has completed the acquisition of a block of insurance and annuity policies issued by Southland National Insurance Corporation (SNIC) from state life and health insurance guaranty associations in a transaction coordinated by the National Organization of Life and Health Insurance Guaranty Associations (NOLHGA).
The acquired portfolio consists of approximately 60,000 life insurance and annuity policies across multiple states. The policies are primarily single-premium and limited-pay whole life products with associated riders. These policies were originally issued by SNIC before becoming statutory obligations of the applicable state guaranty associations following the court-ordered liquidation of SNIC on May 2, 2023.
Effective April 1, 2026, Continental General assumed the guaranty associations’ covered obligations for the SNIC policies, including all related liabilities and assets. The company said the transaction provides policyholders with a long-term insurance provider backed by more than six decades of experience, operational capabilities, and specialized policy administration expertise.
Policyholders will receive certificates of assumption confirming that Continental General has taken responsibility for their policy benefits and obligations. The company emphasized that all policy terms and benefits remain unchanged from the date of SNIC’s liquidation.
The transaction represents Continental General’s second NOLHGA acquisition in 2026. Earlier this year, the company acquired two blocks of insurance policies from state life and health insurance guaranty associations, originally issued by Bankers Life Insurance Company and Colorado Bankers Life Insurance Company.
Founded in 1961 and headquartered in Austin, Texas, Continental General provides insurance solutions through its family of companies and strategic partners, serving policyholders, claimants, and their families across the United States.
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“We are pleased to have the opportunity to work alongside the NOLHGA team for the second time this year to deliver a stable, long-term home for policyholders. We appreciate the work between our teams and are committed to supporting policyholders with the care, focus and reliability they expect from Continental General.”
Michael Gorzynski, Executive Chairman, Continental General
“Continental General is proud to continue our partnership with the state guaranty associations and NOLHGA to provide SNIC policyholders with long-term stability and continuity of coverage. We are confident that we have the operational expertise and administrative infrastructure to deliver a seamless transition for these policyholders.”
David Ramsey, President And Chief Executive Officer, Continental General
