AM Best Grade: A+ (Superior) 5 stars
Address: 2801 HWY 280 South, Birmingham, AL 35223
Also known as: Protective Life Insurance and Annuity Co., West Coast Life Insurance Company, MONY Life Insurance Company
Protective Life traces it’s roots back over 100 years, when it was founded by former Alabama Governor, William Dorsey Jelks in 1907. They paid their first death claim in 1909 and reached $65 million dollars of insurance in force by 1936. The company was listed on the NYSE in 1993. Protective Life celebrated their 100th anniversary in 2007, and by 2010 they had over $427 Billion dollars of life insurance in force. In 2013, Protective Life acquired MONY Life Insurance Company which was the company’s 47th acquisition as well as it’s largest. It was announced in 2014 that Protective Life would be acquired by Dai-ichi Life which is Japan’s second largest private Life Insurer based off of premiums and third based off of assets. The deal was finalized in February 2015.
Protective Life offers life insurance products in all 50 states, which includes Universal Life policies, Variable Universal Life policies, as well as Bank-Owned Life Insurance products that can be purchased through brokers or independent marketing agencies. They currently have over 2,400 employees and reported $70.5 Billion dollars of assets under management as well as $4.4 Billion dollars in annual revenue as of December 2014.
By Jason Dana, August, 2015