Continental General Insurance Company has completed the acquisition of a block of life insurance and annuity policies originally issued by Southland National Insurance Corporation (SNIC), assuming responsibility for approximately 60,000 policies previously administered by state life and health insurance guaranty associations.
The transaction was coordinated by the National Organization of Life and Health Insurance Guaranty Associations (NOLHGA). Effective April 1, 2026, Continental General assumed the guaranty associations’ covered obligations related to the SNIC policies, including the associated liabilities and assets.
The acquired portfolio consists primarily of single-premium and limited-pay whole life insurance products, along with related riders, across multiple states.
The policies became the responsibility of the applicable state guaranty associations following the court-ordered liquidation of SNIC on May 2, 2023. Through the acquisition, Continental General has taken over responsibility for policy benefits and obligations while maintaining all existing policy terms and benefits.
Michael Gorzynski, executive chairman of Continental General, stated the transaction provides a long-term solution for affected policyholders and marks another collaboration between the company and NOLHGA.
“We are pleased to have the opportunity to work alongside the NOLHGA team for the second time this year to deliver a stable, long-term home for policyholders,” Gorzynski said. “We appreciate the work between our teams and are committed to supporting policyholders with the care, focus and reliability they expect from Continental General.”
David Ramsey, president and chief executive officer of Continental General, said the company expects to provide continuity of coverage and a smooth transition for policyholders.
“Continental General is proud to continue our partnership with the state guaranty associations and NOLHGA to provide SNIC policyholders with long-term stability and continuity of coverage,” Ramsey said. “We are confident that we have the operational expertise and administrative infrastructure to deliver a seamless transition for these policyholders.”
Policyholders affected by the transaction are expected to receive certificates of assumption confirming that Continental General has assumed responsibility for their coverage.
The deal represents Continental General’s second transaction involving guaranty association-administered insurance blocks in 2026. In January, the company completed the acquisition of two blocks of insurance policies that were originally issued by Bankers Life Insurance Company and Colorado Bankers Life Insurance Company, also in transactions involving state life and health insurance guaranty associations and NOLHGA.
