Jefferson Pilot Financial Completes Integration of Canada Life’s U.S. Group Insurance Division
Jefferson-Pilot Corporation (NYSE: JP) today announced it has completed the integration of the U.S. group life, disability and dental business of The Canada Life Assurance Company with its group insurance operation, Jefferson Pilot Benefit Partners, based in Omaha, Neb.
Greensboro, NC December 20, 2004 – The acquisition, which was announced last
January, positions Jefferson Pilot with more than $1 billion of group life,
disability and dental insurance premium. Jefferson Pilot now ranks tenth in new
sales of group life insurance, and sixth in both long-term and short-term
disability insurance sales, based on the second quarter 2004 LIMRA rankings.
Jefferson Pilot Benefit Partners President Robert D. Bates said the
Canada Life business has been transitioned to Jefferson Pilot’s platform ahead
of schedule and the acquisition provides Benefit Partners with enhanced
distribution and presence in the marketplace.
“Our vision is to be a
market leader in profit, growth, customer satisfaction and market presence in
group insurance. This acquisition was intended to help Jefferson Pilot achieve
our near-term objective of increasing distribution and manufacturing scale and
we have already begun to see those results. The Canada Life distribution network
has blended nicely with Benefit Partners’ footprint throughout the country and
has accelerated our planned expansion into new markets, such as New York. We
have found the marketplace to be receptive of Jefferson Pilot’s business model,
product portfolio and strong financial ratings,” Bates said.
“For Canada
Life customers, the completion of the integration means all group life,
disability and dental insurance policies have been transitioned to Jefferson
Pilot’s business platform,” said Sandra Callahan, Senior Vice President-Customer
Loyalty for Jefferson Pilot Benefit Partners.
“Policyholders now have
access to our products and excellent customer support services, all backed by
Jefferson Pilot’s exceptional financial strength. Our JET Claims Services, for
example, provide prompt and accurate processing and payment of claims and we
provide policyholders the options and flexibility to decide how they want to
manage their insurance and to submit claims as they prefer – on-line, via the
telephone, or through traditional paper submission,” Callahan said.
“For
employers, completion of the integration means they also can enjoy the added
capabilities that Jefferson Pilot’s business and technology platform provides,
including real-time, on-line services that dramatically reduce the expense, time
and administrative burdens long associated with managing voluntary group
benefits.”
As part of the acquisition, Jefferson Pilot Benefit Partners
has expanded its underwriting and claims payment operations with the addition of
an Atlanta service center that will support brokers, employers and
policyholders.
For additional information on Jefferson Pilot Financial or
Jefferson Pilot Financial’s On-line Services, please visit www.jpfinancial.com or www.jpfic.com,
respectively.
About Jefferson Pilot Benefit Partners
A division of
Jefferson Pilot Financial Insurance Company, Benefit Partners markets ancillary
(non-medical) group and worksite insurance products including life, long-term
and short-term disability, dental and employee assistance programs through a
distribution system consisting of 25 regional sales offices in addition to the
home office in Omaha, NE.
About Jefferson Pilot Financial
Jefferson
Pilot Corporation, a holding company (NYSE:JP), is one of the nation’s largest
shareholder-owned life insurance companies. Jefferson Pilot’s life insurance and
annuity companies, principally Jefferson Pilot Life Insurance Company, Jefferson
Pilot Financial Insurance Company, and Jefferson Pilot LifeAmerica Insurance
Company (serving the New York market), together known as Jefferson Pilot
Financial, offer full lines of individual and group life insurance products as
well as annuity and investment products. Jefferson Pilot Communications Company
owns and operates three network television stations and 18 radio stations, and
produces and syndicates sports programming. Additional information on Jefferson
Pilot can be found at www.jpfinancial.com.
Contact: Julie Fried
Vice
President-Marketing
Jefferson Pilot Benefit Partners
402-361-7537
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Source : http://www.prweb.com/releases/2004/12/prweb190779.htm