Kerr approves 7^th new company of 2018, 72^nd of tenure

LITTLE ROCK – Arkansas Insurance Commissioner Allen Kerr today released the following statement announcing that he has granted a Certificate of Authority to a New York-based life insurer to do business in Arkansas:

“Arkansas remains open for business as the Insurance Department welcomes another new company to offer products to Arkansas consumers and give our state’s insurance producers new opportunities.  I am proud to welcome SBLI to the Natural State, where we will continue to aggressively recruit new insurance companies in the future.”

Kerr granted authority to SBLI USA Life Insurance Company (SBLI) of New York city to sell Life and Accident & Health products in Arkansas.  SBLI formed in 1999 and was acquired by the Prosperity Life Insurance Group in 2014.  SBLI is the direct parent of S.USA Life Insurance Company and is an affiliate company to Shenandoah Life Insurance Company.  SBLI’s principal business consists of life insurance, annuities and accident and health products targeting the middle to low cost market.  SBLI distributes its products through managing general agencies, banks, agents, and on an e-commerce basis.  SBLI is licensed and operating in 13 states and has three other insurance companies in the Prosperity Life Insurance group that are licensed and writing in Arkansas.  SBLI maintains an A.M. Best group rating of A- (Excellent), with over $1.49B in total assets.

This is the seventh new company Kerr has approved in 2018.  Since becoming Commissioner in 2015, he has welcomed 72 new companies to Arkansas.

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