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Golden State Mutual Life Insurance Company
Estate Trust Officer: Scott Pearce
Email Address: PearceS@caclo.org
Telephone Number: (415) 676-5013
Conservation Date: 09/30/2009
Liquidation Date: 01/28/2011
POC Final Filing Date: 12/31/2013
Closure Date: 10/17/2016
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June 24, 2010 - Los Angeles Superior Court Approves Insurance Commissioner's Rehabilition Plan And Assumption Reinsurance Transaction For Golden State Mutual Life Insurance Company

The Conservator of Golden State Mutual Life Insurance Company today announced that the Los Angeles Superior Court approved his comprehensive rehabilitation plan and assumption reinsurance agreements for Golden State Mutual Life Insurance Company ("Golden State Mutual") with IA American Life Insurance Company ("IA American"). The rehabilitation plan and assumption reinsurance transaction will preserve and maintain the value, continuous coverage and contractual benefits for the holders of in-force life, health and disability insurance policies and annuity contracts issued by Golden State Mutual.

The rehabilitation plan and agreements forming the plan provide that holders of Golden State Mutual's in-force life, health and disability policies and annuity contracts will become policy and annuity contract holders of IA American under an express assumption of their policies and annuity contracts as modified by an Assumption Endorsement. As a result of this assumption, all claims for contractual life, health and disability insurance policy and annuity contract benefits will be deemed satisfied by the assumption and IA American will be solely responsible to pay all claims on the policies and contracts.

A "scanned" copy of the original court document is available in PDF format (see above PDF icon link). In compliance with the American Disability Act, an alternate version is available below, in HTML format, suitable for text browsers and screen readers. While this HTML version was produced using OCR (Optical Character Recognition) software, then manually edited and verified, no responsibility is assumed for any error, omission, or inaccuracy. Please contact webmaster@caclo.org to report any errors or accessibility problems. For a true copy of the court document, please refer to the PDF version.