Met assumes National Heritage policies. (Metropolitan Life Insurance Co., National Heritage Life Insurance Co.)

National Underwriter Life & Health-Financial Services Edition, March, 1996 by West, Diane

Metropolitan Life Insurance Co. is acquiring more than 24,000 life insurance policies and annuity contracts from insolvent National Heritage Life Insurance Co. The National Organization of Life and Health Insurance Guaranty Associations is contributing $402 million towards the acquisition. The policies are the only assets being transferred, of which 95% are annuities.

Over 24,000 annuity contracts and life insurance policies held by the insolvent National Heritage Life Ins. Co. have been assumed by Metropolitan Life

Twenty-three member groups of the National Organization of Life and Health Insurance Guaranty Associations are contributing $402 million to fund the Met Life assumption.

The March 5 announcement was made just four days after David Davies,...

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