WSR 98-10-079

INSURANCE COMMISSIONER'S OFFICE

[Filed May 4, 1998, 3:15 p.m.]



In the Matter of the Merger ) No. G 98 - 19
of wm life insurance ) notice of hearing
company with and into )
safeco life insurance )
company )


to: Edward H. Southon
Assistant General Counsel
Safeco Insurance Companies
Safeco Plaza
Seattle, Washington 98185
George Pagos
Associate General Counsel
Safeco Life Insurance Company
Post Office Box 34690
Seattle, Washington 98124-1690
Randall H. Talbot, President
WM Life Insurance Company
Post Office Box 34690
Seattle, Washington 98124-1690


WM Life Insurance Company (WM Life) is a domestic Arizona life and disability insurance company. WM Life holds a Washington certificate of authority authorizing it to transact life and disability insurance in this state. WM Life is 100% owned by Safeco Life Insurance Company, a domestic Washington life and disability insurance company.



Safeco Life Insurance Company has announced its intention to merge WM Life into Safeco Life Insurance Company.



A merger involving a domestic Washington insurance company is controlled by RCW 48.31.010. Pursuant to RCW 48.31.010 (1)(a) a plan of merger was submitted to the Insurance Commissioner on March 31, 1998.



you are hereby notified a hearing will be held commencing Friday, May 29, 1998, at 10:00 a.m. in the conference room of the Insurance Commissioner's Offices, 420 Golf Club Road, Lacey, Washington 98503, to consider the proposed merger of WM Life into Safeco Life Insurance Company.



The hearing will be held under the authority granted the Commissioner by Chapter 48.04 RCW and RCW 48.31.010 (1)(b). RCW 48.31.010 (1)(b) prescribes conditions upon which approval of the proposed merger shall be judged.



The Commissioner has not taken, and will not take, any position on this matter prior to entry of the hearing order.



All parties may be represented at the hearing. They may examine witnesses and fully respond and present evidence and argument on all issues involved, as required by the Administrative Procedure Act. The hearing will be governed by the Administrative Procedure Act, Chapter 34.05 RCW, and the model rules of procedure contained in Chapter 10-08 WAC. A party who fails to attend or participate in any stage of the proceeding may be held in default in accordance with Chapter 34.05 RCW.



The Commissioner will be represented by James E. Tompkins, Assistant Deputy Commissioner, and Dennis Julnes, Chief Financial Analyst.



Assistant Deputy Commissioner John B. Woodall will hear and determine this matter. His address is Office of the Insurance Commissioner, Post Office Box 40259, Olympia, Washington 98504-0259. His telephone number is (360) 407-0535.



entered at olympia, washington, this 1st day of May, 1998.



deborah senn
Insurance Commissioner
By:
john b. woodall
Assistant Deputy Commissioner
for Company Supervision

 

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