Subsidiaries

  • Until fairly recently, subsidiaries were not an important aspect of the life insurance business.
    • In the 1960's, however, there was a strong movement toward diversification via subsidiaries to enable life insurance companies to market other products and skills to meet all of an individual's needs for financial security, and also to move into other enterprises which may be financially advantageous. (p181)

1980 0915 - Letter - ACLI to NAIC - To: Task Force on Subsidiaries and MSVR Rules of the the NAIC Valuation of Securities Subcommittee
Re:  Mandatory Securities Valuation Reserve Requirements for Controlled Subsidiaries

1981-1, NAIC Proc.

  • Now let us turn to subsidiaries and see whether we can answer some of the questions as to why some life companies have chosen to put capital (both money capital and people capital) into these new lines instead of using it to expand the business they are already engaged in.
  • Because I am most familiar with our own subsidiary efforts, let me run down each of these and give you some reasons for their being undertaken.

--  James H. Torrey, senior vice-president, Connecticut General Life Insurance Company

1971 - SOA - Digest of Discussion at Concurrent Sessions, Society of Actuaries - 250p