UFLICUnion Fidelity Life Insurance Company (Pennsylvania)
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Best notes that UFLIC has recently implemented business improvement initiatives in order to improve selections in its student accident business, reduce general and administrative expenses, temper sales of its capital-intensive single premium whole life product and emphasize growth in its Employee Retirement Income Security Act TPA revenue.
ERAC and UFLIC maintain acceptable levels of risk-adjusted capitalization as GE has promptly honored its commitment to replenish capital to prudent levels following net losses.
Although in run off, the remaining reserves of ERAC and UFLIC exceed $24 billion and run out over many years.
Although in run off, the remaining reserves for ERAC and UFLIC exceed $23 billion.
Ryan, Chairman and CEO of Aon added, "We are pleased to see UFLIC sold to a strong and well managed company which should allow UFLIC to continue its rapid growth.