INSURANCE COMMISSIONER
| In the Matter of the Acquisition of NORTH WEST LIFE ASSURANCE COMPANY OF AMERICA | ) ) ) |
No. G 2000-57 NOTICE OF HEARING |
North West Life Assurance Company of America
Box 8118
Blaine, Washington 98231-8118
Patricia Harrigan
Sr. Vice President & Assistant General Counsel
Reassure America Life Insurance Company
969 High Ridge Road
Stamford, Connecticut 06905
David Walsh, Corporate Counsel
Swiss Re Life & Health America Holding Company
969 High Ridge Road
Stamford, Connecticut 06905
North West Life Assurance Company of America is a Washington
domestic insurance company. It is a member of the Industrial
Alliance Life Group. The ultimate controlling person of North
West Life Assurance Company of America is Industrial Life
Insurance Company.
Reassure America Life Insurance Company proposes to acquire North
West Life Assurance Company of America. Reassure America Life
Insurance Company is a member of the Swiss Reinsurance Company
group. Reassure America Life Insurance Company is an Illinois
domestic insurance company. Reassure America Life Insurance
Company's immediate parent is Life Reassurance Corporation of
America. Life Reassurance Corporation of America's immediate
parent is TexasRe Life Insurance Company. The immediate parent
of TexasRe Life Insurance Company is Swiss Re Life & Health
America Holding Company. The immediate parent of Swiss Re Life &
Health America Holding Company is Swiss Re America Holding
Corporation. The ultimate controlling person and immediate
parent of Swiss Re America Holding Corporation is Swiss
Reinsurance Company.
Swiss Reinsurance Company is a Zurich, Switzerland insurance
holding company. It is active worldwide in the finance, asset
management, and insurance industries. Swiss Reinsurance Company
is a publicly traded Swiss stock exchange shareholder owned
corporation.
The acquisition of a domestic Washington insurance company is
controlled by Chapter 48.31B RCW. Pursuant to RCW 48.31B.015 and
WAC 284-18-910, a Form "A" submission was made by the applicants.
The Form "A" was deemed complete October 6, 2000. The
determination that the Form "A" was complete begins the 60 day
period within which the Insurance Commissioner must hold a
hearing and decide whether to approve the change of control of
the companies.
YOU ARE HEREBY NOTIFIED that a hearing will be held commencing Thursday,
November 30, 2000, at 1:30 p.m. in the 2nd Floor Conference Room
of the Insurance Commissioner's Office at 420 Golf Club Road,
Lacey, Washington 98503, to consider the proposed acquisition of
North West Life Assurance Company of America.
The hearing will be held under the authority granted the
Commissioner by Chapter 48.04 RCW and RCW 48.31B.015. RCW 48.31B.015 lists the findings which must be made before approval
can be given to any proposed acquisition of control over a
Washington domestic insurer.
The basic facts relied upon are those set forth in the Form "A"
filed with the Commissioner. The complete Form "A" will be made
part of the record of the hearing. 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 Chase Davis, Financial
Analyst.
Assistant Deputy Commissioner John B. Woodall has been designated
to 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 27th day of October, 2000.
| DEBORAH SENN Insurance Commissioner
Assistant Deputy Commissioner Company Supervision Division |