William Penn Life

UPDATED: Aug 20, 2020Fact Checked

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: Aug 20, 2020

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Company Details
Address: 100 Quentin Roosevelt Blvd
City: Garden City
State: NY
ZIP Code: 11530
Phone Number: 516-794-3700
AM Best Rating: A+
URL where was collected the AM Best Rating: http://www.ambest.com/ratings/
Lines of Insurance: life
States Licensed To Sell Insurance In: NY
Type of Insurance Company: Stock
Parent Company: Banner Life Insurance Company
Top executive Contact: James Atkins
Title of Top executive: CEO
Ticker Symbol: LON: LGEN (Parent)
Assets & Premiums: $87 billion of life insurance in force$1.1 billion in assetsAssets equal to 121% of liabilitiesCapital and surplus of $196 million
Company Rating 1.18 (11 reviews)

Company Overview:

Company History: William Penn Life Insurance Company was founded in 1963 in New York. The company was acquired as a subsidiary by ITT Hamilton Life Insurance Company in 1967, then again by Maiden Lane Life Insurance Company (subsidiary of Continental Corp) in 1983. Continental Corp gained full ownership 2 years later, only to be purchased by Banner Life Insurance Company (subsidiary of Legal & General Group PLC) in 1989. Now William Penn has an investment portfolio that consists of 92% investment grade assets, including 18% U.S. government and U.S. agency holdings; commercial Mortgage Backed Securities holdings, of which 83% rated A or above with 76% rated AAA; and Asset Backed Securities holdings, of which 93% are rated A or higher. The company employees 300 people.
Principle Sales Methods: Independent agents and brokers who work in New York

Life Annuity Business: Company offers Universal and Term Life.

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