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    Discharged Insurance Company

    World Life and Health Insurance Company of Pennsylvania

     

    Email inquiries to ra-in-claims@pa.gov.

     

    Date of Liquidation:July 29, 1991
    Filing Deadline:July 29, 1992
    States Where Licensed:Alabama, Arizona, Delaware, Idaho, Indiana, Louisiana, Maine, Maryland, Minnesota, Missouri, Nebraska, New Mexico, Oklahoma, Pennsylvania, South Carolina, Utah, Wyoming, US Virgin Islands, Antiqua West Indies, Netherlands Antilles
    Type of Business Sold:Health, Nursing Home, Life & Annuity



    Life, Health & Annuity Blocks
    All active policies were assumed by:

    Conseco Senior Care, Inc.
    P. O. Box 1955
    Carmel, IN 46082-1955
    Telephone No.: (800) 441-3978


    Nursing Home Policies
    The Pennsylvania Life & Health Insurance Guaranty Association (PLHIGA) is currently keeping policies in force. The block is being administered by:

    North American Administrators
    PO Box 9501
    Amherst, NY 14226
    Telephone No.: (800) 828-6922


    The Commonwealth Court approved the first and final distribution in 2006. Checks were mailed to all priority level "b" claimants on May 31, 2006. The checks represented a 54 percent distribution to policyholder claims.

    By Commonwealth Court Order dated April 10, 2006 the Statutory LIquidator has been discharged of Her responsibilites as Liquidator of "World" and is released of any liability to make further payments. Accordingly, this estate is now distributed, discharged and closed.​

    World Life and Health Assets and Liabilities


    World Life and Health Insurance Company
    of Pennsylvania
    Estimated Net Assets Available and
    Estimated Liabilities
    As of 12/31/05
    Estimated Net Assets Available
    Includes early access distributions to Guaranty
    Associationsof $7,000,000
    		$12,962,422
    Estimated Liabilities
    Priority Class See Footnote 1
    A6,553,342
    Less:
    Liquidation Expenses Paid
    		(5,933,670)
    B22,953,032
    C
    D
    E12,959
    F
    G13,586
    H
    I
    Known but unevaluated claims
    Total Estimated Remaining Unpaid Liabilities$
    23,599,249
    Estimated Surplus (Deficit)$(10,636,827)


    The Financial Statement Disclosure is an integral part of this statement. It is necessary to read the disclosure to fully understand the statements.

    Footnotes:
    1 Priority Classes
    The order of distribution of claims from the insurer's estate is set forth in detail in Article V of the Insurance Department Act of 1921 at 40 P.S. 22144. Briefly the classes are:
    A Administrative expenses
    B Claims for policy benefits
    C Federal government claims
    D Certain employee claims
    E General creditor claims
    F Stateand local government claims
    G Late filed claims
    H Surplus or contribution note claims
    I Shareholder/owner claims.
    2 Priority Class A - Administrative Expenses
    Administrative expenses include both the Guaranty Associations expenses related to administering the claims of the companies in liquidation and the Liquidators expenses. As shown, the Liquidators expenses have been bracketed to indicate they have been paid and the net assets available were reduced by that amount. The net difference in this priority class, if any, represents administrative expenses incurred by the Guaranty Associations.

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