Liberty Life Assurance Company of Boston Announces Exit from the Structured Settlement Annuity Market

Structured Settlements on January 19, 2018 | Posted by Michele Zimmerman

Our structured settlement department received word this morning that Liberty Life Assurance Company of Boston is being sold to Lincoln Financial Group. As a result of the sale, Liberty Life will be discontinuing the sale of structured settlement annuities.  This news comes on the back of their exit from the non-qualified structured settlements market.  While this news is surprising, Liberty has assured us that there will be no impact on the policies that are currently in-force.  They also advised us that they are honoring lock-ins that are currently in place, however, they must receive the premium on or before February 16th.  In-force annuities will be reinsured to Protective Life Insurance Company, currently rated A+ XV by AM Best.  Liberty expects the transaction to be completed in the second quarter of 2018, pending regulatory approvals and closing conditions.

If you have any questions/concerns regarding this news, our structured settlement team would be happy to assist.  They can be reached at structureteam@medval.com.