OLYMPIA, Wash. – The Insurance Commissioner has scheduled a hearing on March 21, 2013, at 10:00 a.m. Pacific Standard Time in his Olympia, Washington office to consider whether he should approve or deny the request to acquire Washington-based Western United Life Assurance Company.
Central United Life Insurance Company (CUL) is proposing to acquire common shares of Western United Life Assurance Company (WULA) from WULA’s current owners, Global Life Holdings Inc. The acquisition would allow CUL to own acquire all common shares of WULA and become the controlling entity of WULA.
CUL is an Arkansas stock life insurer with its headquarters in Houston, TX. CUL is also licensed in Washington since 1974. CUL writes mainly life and accident and health policies in Washington. WULA is a Washington stock life insurer with its headquarters in Spokane, WA and was established in 1963. WULA writes mainly annuity considerations in sixteen states.
If approved, CUL would be the sole owner of WULA.
The public is notified that all interested parties may submit letters of support or concerns or objections and/or may participate in the hearing by appearing in person or by telephone at no charge.
To view the Notice of Hearing, which includes advice on how to participate in the hearing process, and to view all documents filed in this matter including the Purchase Agreement between the parties, and all other documents such as organizational charts and finances, current and past states’ regulatory actions and other litigation filed in this proceeding, go to Western United Life #13-0033.