- Rated A+ (Superior) by A.M. Best*
- Banner is a wholly-owned subsidiary of Legal & General America
- Established in 1949
- Headquartered in Frederick, MD
- Over $5.7 billion in assets
Company Information Banner Life Insurance Company
Frederick, MD | NAIC #94250
Government Employees Life Insurance Company (the predecessor corporation of Banner Life) was incorporated in the District of Columbia and commenced business in 1949. The company was acquired by Legal & General Group Plc in 1981. The present title was adopted in 1983. In 1986, the company was redomesticated to Maryland.
Banner Life Insurance Company is licensed in 49 states and the District of Columbia. Banner Life Insurance Company does not do business in New York. In New York, policies are offered by its subsidiary, William Penn Life Insurance Company of New York.
Legal & General America
Banner Life Insurance Company and William Penn Life Insurance Company of New York make up the Legal & General America Companies. They are wholly-owned subsidiaries of Legal & General Group Plc, a worldwide insurance organization headquartered in London. Legal & General Group Plc has had a long history of successful insurance operations since it commenced business over 175 years ago. It currently ranks as the ninth largest insurance company in the world according to a 2011 A.M. Best report based on 2009 admitted assets.
*Independent Ratings A.M. Best Company and Standard & Poor’s: http://www.lgamerica.com/newaboutfinvm.htm
Assets Banner Life Insurance Company had, on a GAAP consolidated basis, total assets as of 12/31/12 of more than $5.7 billion.