Continental General Insurance Company announced it has completed the acquisition of two blocks of insurance policies from state life and health insurance guaranty associations in transactions coordinated by the National Organization of Life & Health Insurance Guaranty Associations. The deal marks the first transaction between Continental General and NOLHGA on behalf of the Guaranty Associations and is the first in a series of pending related transactions among the parties.
The acquired portfolio includes approximately 91,000 final expense, traditional life, annuity, and accident and health policies. The policies were originally issued by Bankers Life Insurance Company and Colorado Bankers Life Insurance Company and became the statutory obligation of the Guaranty Associations in 2024 following the court-ordered liquidation of the two insurers. Effective January 1, 2026, Continental General assumed the Guaranty Associations’ covered obligations for the policies, including all related liabilities and assets.
The transaction transfers responsibility for policy administration, policyholder services, and claim management to Continental General. The company said policyholders will benefit from its more than 60 years of experience, operational capabilities, and focus on long-term financial risk management.
Headquartered in Austin, Texas, Continental General was founded in 1961 and operates as a stock life, accident, and health insurance company licensed in forty-nine states, the District of Columbia, and the U.S. Virgin Islands. The company operates through Continental Insurance Group, Ltd., which serves as the parent company of its management, insurance, and services subsidiaries.
KEY QUOTES
“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.”
Michael Gorzynski, Executive Chairman, Continental General
“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 administrating insurance blocks will enable us to provide our new customers with the confidence, security and reliability that they deserve.”
David Ramsey, President And Chief Executive Officer, Continental General
