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THE NEBRASKA LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATIONInsolvenciesInsolvencies by Liquidation Date |
| Home | LONDON
PACIFIC LIFE & ANNUITY COMPANY (NORTH CAROLINA)
Date of Liquidation: July 12, 2004 Brief Summary: London Pacific Life & Annuity Company ("London Pacific") wrote life insurance and annuity contracts in the state of Nebraska. London Pacific was placed under the supervision of the Commissioner of Insurance of the North Carolina Department of Insurance on July 3, 2002. An Order of Rehabilitation and Preliminary Injunction was issued on August 6, 2002, and a subsequent moratorium became effective August 19, 2002. The Order of Liquidation was entered on July 12, 2004. Owners of payout annuities will have their contracts assumed by the Hartford Life Insurance Company with no changes to the original terms of the contracts and will receive an assumption certificate from Hartford Insurance. Deferred annuity contract owners will have the option of entering into an exchange of the London Pacific contract for a new contract with Hartford Life, exchanging the contract for a new contract with another insurance company, or continuing the London Pacific contract with the state guaranty association covered portion of the contract subject to applicable guaranty association limitations. Contact Information: Pamela Olsen or Lori Busch
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