National Life Group

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National Life Group
Mutual company
Industry Financial Services
Founded Montpelier, Vermont, USA (1848)[1]
Founder Julius Yemans Dewey
Headquarters Montpelier, Vermont, USA
Key people
Mehran Assadi,[2] President and CEO
Slogan "Experience Life"
Website nationallife.com

National Life Group is a Fortune 1000 company[3] and a diversified group of financial services companies that offer life insurance, annuities, mutual funds and estate, business succession and retirement planning strategies.[4][5]

National Life Group was founded in Montpelier, Vermont as National Life Insurance Company.[6] It was chartered on November 13, 1848 “upon the principle of mutual participation in the funds or profits” of the company. As such, the National Life of Vermont was a mutual company even though that fact was not apparent from its name. The company officially issued its first policy and began business on February 1, 1850. Its name bespoke the fact that its organizers were from many different states and believed company life insurance policies would be sold throughout the nation.

Julius Yemans Dewey, medical doctor of Montpelier, Vermont, was among the company's founders. He would later serve as general agent and then president of the company[7] and delivered the remittance of the company's very first claim on July 26, 1850.[8]

Today, National Life Group has grown to include the Life Insurance Company of the Southwest,[9] in Dallas, Texas, Sentinel Investments and Equity Services, Inc.[10] and now has $30 billion in assets under management.[11]

The National Life Group companies employ roughly 900 people, with most located at its home office in Montpelier.

Mehran Assadi is the president and chief executive officer of National Life Group, a position he has held since 2009. He has been a member of the company’s board since 2009. He joined National Life Group in September 2003 as interim Chief Information Officer. In May 2004 he was appointed interim Chief Operating Officer and in April 2005 he accepted the position of President – Life and Annuity.

References

  1. An Act to Incorporate the National Life Insurance Company, State of Vermont Legislature, 1848.
  2. [1]
  3. "Fortune 1000 List".<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  4. "National Life Group Reports 2012 Financial Results; Sales, Income And Earnings All Set Company Records; Statutory Surplus Stands At $1.3 Billion; Insurance In Force of $68.4 Billion".<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  5. Gilman, Marcus Davis (1897). The Bibliography of Vermont; or, A List of Books and Pamphlets Relating in Any Way to the State: With Biographical and Other Notes. Burlington, Vermont: Printed by the Free Press Association. p. 138.
  6. An Act to Incorporate the National Life Insurance Company, State of Vermont Legislature, 1848.
  7. Lua error in Module:Citation/CS1/Identifiers at line 47: attempt to index field 'wikibase' (a nil value).
  8. "National Life's First Claims: Claim #1". Retrieved 2008-07-14.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles> (Archived by the Internet Archive here)
  9. A.M. Best Co. (2010-10-27). "NLV Financial Corp. and its subsidiaries". Insurancenetworking.com. Retrieved 2012-08-05.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  10. National Life Group 2010 Annual Report
  11. [2]

External links