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333 Guadalupe St. P.O. Box 149104 Austin, TX 78714-9104

AMERICAN BANKERS LIFE ASSURANCE COMPANY OF FLORIDA

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Table of Contents
General Info | Contact Info | Types of Insurance | Use of Credit | Attorney for Service | Ratings | Financial Info | Premiums | Complaint Ratios | Company History | Company Officers

General Information:

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Type of Entity:  Life, Health, or Accident (LI)
Status of TX License:  Active
Company Status:  Normal Operations
License Number:  1770
NAIC Number:  60275
TDI Company Number:  1770
FEIN:  590676017
Home City/State:  FL
Origin:  Foreign
Date Incorporated/Organized:  02/06/1952
Date Licensed/Eligible/Registered in Texas:  10/19/1960
Date Cancelled/Ineligible/Inactive:  

Contact Information:

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Mailing Address:  11222 Quail Roost Drive
 Miami FL 33157-6596
Office Number:  (305)253-2244
Toll Free Number:  (800)852-2244
Fax Number:  (305)252-6987


Types of Insurance Licensed to Write:

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Use of Credit:

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To determine if a company uses credit information for private passenger automobile or homeowners insurance.


Attorney for Service:

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Rating By Financial Organization:

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The following organizations rate insurance companies on their financial strength and stability. Some of these companies charge for their services.



Financial Information:

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As of: Dec. 31, 2015 Dec. 31, 2016 Dec. 31, 2017
Total Assets   $406,179,819     $378,701,171     $364,002,380  
Total Liabilities   $349,514,076     $324,025,000     $311,031,181  
Asset to Liability Ratio   1.16     1.17     1.17  
Capital   $4,472,341     $4,472,341     $4,472,341  
Net Surplus   $52,193,402     $50,203,830     $48,498,858  
Total Life Ins   $14,385,375,000     $12,873,212,000     $13,033,094,000  


Premiums:

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As of: Dec. 31, 2015 Dec. 31, 2016 Dec. 31, 2017
Life and Annuities   $3,573,388     $2,838,074     $2,715,971  
Accident and Health   $8,394,068     $6,233,278     $5,623,390  
Property and Casualty   N/A     N/A     N/A  
Total Texas Premium   $11,967,456     $9,071,352     $8,339,361  
National Premium   $294,674,187     $262,423,403     $295,926,207  


Complaint Information:

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When considering the company's complaint index and ratio, be sure to review the company history information displayed below for recent acquisitions, mergers, or other events that may affect the figures displayed for this company.


  Dec 31, 2016 Dec 31, 2017 Jul 20, 2018
Confirmed Complaints:      
Life and Annuity 0 0 0
Accident and Health 0 0 0
Homeowner 0 0 0
Automobile 0 0 0
Workers' Compensation 0 0 0
Complaint Ratio/Index Ratio Index Ratio Index  
Life and Annuities .0000 .0000 .0000 .0000 N/A
Accident and Health .0000 .0000 .0000 .0000 N/A
Homeowner N/A N/A N/A N/A N/A
Automobile N/A N/A N/A N/A N/A
Workers' Compensation N/A N/A N/A N/A N/A

Confirmed Complaints: the number of confirmed complaints closed against the company for the line of insurance and year indicated. A complaint is confirmed if the department receives information indicating that a company committed any violation of an applicable state insurance law or regulation, a federal requirement the department has authority to enforce or the term or condition of an insurance policy or certificate. A complaint is also confirmed if the complaint and company's response, considered together, suggest that the company was in error or that the complainant had a valid reason for the complaint.

Complaint Ratios: the ratio, expressed as a percentage, is the number of closed confirmed complaints divided by the number of policies the company had in force for the line of insurance and year indicated.

Complaint Index: indicates how a company's ratio of the number of complaints to the number of policyholders compares to the average for all insurers. The index is calculated by dividing the company's percentage of complaints for a specific line of insurance by the company's percentage of the policies in force for the same line of insurance. The average index is 1.00. A number less than 1 indicates fewer complaints than average; a number greater than 1 indicates more complaints than average. For the most recent completed year, a given insurer's index may change over time, as policy count data is received by TDI. This will affect each insurer's percentage of the total.

Complaints against an insurance company are not part of the complaint tally above if the insurance company served only as a Third Party Administrator (TPA), a company hired simply to administer the paperwork of a health plan. Instead, they are included in the complaint record of the insurance company or HMO that hired the TPA. If a bonafide self-insured benefit plan hired the TPA, no complaint numbers are recorded as a part of the company/TPA's profile. Neither are profiles available for self-insured plans, as such plans are regulated under federal law.


Company History:

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Date Event
09-27-2016 Reinsured all policies of insurance of IBC Life Insurance Company (93762) Laredo, Texas.
08-13-2009 EFFECTIVE 06/30/2009 LIFE POLICIES REINSURED BY HOMESHIELD INSURANCE CO. (05219) OKLAHOMA CITY, OKLAHOMA.
04-30-2008 EFFECTIVE 10/01/2007 TOTALLY REINSURED BY CONTINENTAL AMERICAN INSURANCE COMPANY (05929) COLUMBIA, SOUTH CAROLINA.
05-07-2007 PENALTY OF $10,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN PENNSYLVANIA.
12-15-2006 EFFECTIVE 12/01/2006 STANDARD GUARANTY LIFE INSURANCE COMPANY ASSUMED NAME OF UNION SECURITY LIFE INSURANCE COMPANY (06113) WILMINGTON, DELAWARE MERGED INTO COMPANY.
02-17-2006 EFFECTIVE 12/01/2005 MS LIFE INSURANCE COMPANY (93898) RIDGELAND, MISSISSIPPI MERGED INTO COMPANY.
08-26-2004 EFFECTIVE 04/01/2004 VOYAGER LIFE INSURANCE COMPANY (93508) DULUTH, GEORIGA MERGED INTO COMPANY.
07-25-2003 PENALTY OF $25,000 FOR VIOLATIONS WITH CANCELLATION PROCEDURES WITH TELEMARKETERS IN TEXAS.
04-16-2003 PENALTY OF $15,000 FOR PERMITTING UNLICENSED EMPLOYEES TO SOLICIT INSURANCE IN FLORIDA.
10-03-2001 EFFECTIVE 10/04/2001 TOTALLY REINSURED WESTERN GENERAL LIFE INSURANCE COMPANY (90620) HOUSTON, TEXAS.
11-14-2000 PENALTY OF $100,000 FOR VIOLATIONS FOUND DURING AN INVESTIGATION OF COMPANY'S DIRECT MAIL MARKETING MATERIALS IN NORTH CAROLINA.
12-30-1999 EFFECTIVE 09/29/1999 TOTALLY REINSURED STATE NATIONAL LIFE INSURANCE COMPANY, INC. (06032) FORT WORTH, TEXAS.
03-18-1998 PENALTY OF $250,000 PAID BY COMPANY AND AMERICAN BANKERS INSURANCE COMPANY OF FLORIDA FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN MISSOURI.
12-10-1997 PENALTY OF $20,000 FOR ISSUING A GROUP LIFE INSURANCE POLICY THAT DID NOT MEET THE REQUIREMENTS IN OREGON.
09-09-1997 PENALTY OF $20,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN ARIZONA.
11-30-1994 PENALTY OF $8,500 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN FLORIDA.
03-24-1994 PENALTY OF $80,000 FOR AGENTS TRANSACTING LIFE AND DISABILITY INSURANCE WHO HELD ONLY LIMITED LICENSES IN FLORIDA.
08-03-1993 PENALTY OF $5,000 FOR COMMISSIONS PAID TO AN AGENT WHICH EXCEEDED THE AMOUNT WHICH COULD BE PAID IN MARYLAND.
04-16-1993 PENALTY OF $10,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN ILLINOIS.
11-02-1992 PENALTY OF $200,000 PAID BY COMPANY AND AMERICAN BANKERS INSURANCE COMPANY OF FLORIDA FOR VIOLATIONS FOUND DURING AN EXAMINATION IN MINNESOTA.
07-06-1992 PENALTY OF $10,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN MARYLAND.
03-23-1992 PENALTY OF $20,000 PAID BY COMPANY AND AMERICAN BANKERS INSURANCE COMPANY OF FLORIDA FOR USING CERTAIN FORMS AND RATES WITHOUT PRIOR APPROVAL IN PENNSYLVANIA.
07-25-1991 PENALTY OF $21,000 FOR ISSUING POLICIES THAT WERE NOT APPROVED BY THE COMMISSIONER IN TEXAS. PENALTY OF $10,000 FOR ISSUING A POLICY THAT HAD BEEN DISAPPROVED BY THE COMMISSIONER IN TEXAS. PENALTY OF $10,000 FOR ISSUING A POLICY NOT APPROVED BY COMMISSIONER IN TEXAS.
11-01-1976 PARTIALLY REINSURED BY L W LIFE INSURANCE COMPANY (46600) HOUSTON, TEXAS
10-29-1966 PARTIALLY REINSURED CERTAIN DECREASING TERM LIFE POLICIES OF UNITED AMERICAN LIFE INSURANCE COMPANY (85800) DENVER, COLORADO.
10-19-1960 GRANDFATHERED FOR CAPITAL AND SURPLUS REQUIREMENTS


Company Officers:

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For names of the company’s current officers, please contact the company at the phone number listed in the Contact Information above or on their website.