Acquisition
Continental General Insurance Acquires 91,000 Policies From Guaranty Associations
•February 17, 2026
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Participants
Why It Matters
The acquisition accelerates Continental General’s growth strategy while providing policyholders a stable, long‑term insurer, reinforcing market confidence after insurer failures.
Key Takeaways
- •Continental General acquires ~91,000 life and health policies.
- •Policies originated from BLIC and CBLIC liquidations.
- •Transaction coordinated by NOLHGA, first of series.
- •Effective Jan 1 2026, assumes liabilities and assets.
- •Expands customer base and diversifies risk profile.
Pulse Analysis
The life‑and‑health guaranty associations act as safety nets when insurers fail, stepping in to protect policyholders and preserve market confidence. In early 2024, the court‑ordered liquidation of Bankers Life Insurance Company and Colorado Bankers Life Insurance Company transferred roughly 91,000 final‑expense, traditional life, annuity, and accident‑and‑health contracts to the state guaranty associations. By partnering with the National Organisation of Life & Health Insurance Guaranty Associations (NOLHGA), Continental General has become the first private carrier to assume such a block, signaling a new phase in post‑solvency asset management.
For Continental General, the acquisition aligns with a deliberate strategy to broaden its customer base while balancing its risk mix. The added policies bring a diversified portfolio of low‑duration, high‑frequency claims that complement the insurer’s existing specialty lines. Leveraging its established claims‑processing infrastructure and actuarial expertise, the company can integrate the block with minimal disruption, generating economies of scale and enhancing underwriting profitability. Moreover, the transaction diversifies revenue streams, reducing dependence on any single product segment and strengthening capital efficiency.
Policyholders stand to benefit from the stability of an established carrier rather than remaining under a guaranty association’s custodial oversight. Continental General’s commitment to seamless administration and prompt claim handling should improve service levels and preserve policy value. Industry observers view the deal as a bellwether for further consolidation, as more failed insurers’ blocks may be sold to capable operators rather than being wound down. Looking ahead, the successful integration could encourage additional collaborations between guaranty associations and private insurers, fostering a more resilient life‑insurance market.
Deal Summary
Austin-based Continental General Insurance Company announced the acquisition of approximately 91,000 final expense, life, annuity, and accident & health policies from the state life and health insurance guaranty associations. The transaction, effective Jan. 1, 2026, expands Continental General’s portfolio and diversifies its risk mix. Deal value undisclosed.
Article
Source: Reinsurance News
Austin-headquartered insurer, Continental General Insurance Company, has acquired two blocks of insurance policies, made up of approximately 91,000 final expense and traditional life insurance policies, annuities, and accident and health (A&H) policies from the state life and health insurance guaranty associations (Guaranty Associations).
The transactions are coordinated by the National Organisation of Life & Health Insurance Guaranty Associations (NOLHGA) and mark the first between the parties on behalf of the Guaranty Associations. It is the first in a series of pending related transactions among the parties.
The policies were originally issued by Bankers Life Insurance Company (BLIC) and Colorado Bankers Life Insurance Company (CBLIC) and became the statutory obligation of the Guaranty Associations in 2024 following the court-ordered liquidation of the two companies.
Effective January 1st, 2026, Continental General has assumed the Guaranty Associations’ covered obligations for the CBLIC and BLIC policies, including all related liabilities and assets.
Through this transaction, the policyholders stand to benefit from Continental General’s specialised expertise in managing financial risk, which will now oversee policy administration, policyholder services, and claim management.
Michael Gorzynski, Executive Chairman of Continental General, commented, “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.”
David Ramsey, President and Chief Executive Officer of Continental General, added, “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 administering insurance blocks will enable us to provide our new customers with the confidence, security and reliability that they deserve.”
The post Continental General Insurance acquires 91,000 policies from Guaranty Associations appeared first on ReinsuranceNe.ws.
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