WSR 00-22-067

OFFICE OF THE

INSURANCE COMMISSIONER

[ Filed October 30, 2000, 8:21 a.m. ]

In the Matter of the Acquisition of NORTH WEST LIFE ASSURANCE COMPANY OF AMERICA )

)

)

No. G 2000-57

NOTICE OF HEARING


TO: Douglas Carrothers, Vice President

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


By:


JOHN B. WOODALL

Assistant Deputy Commissioner

Company Supervision Division

Washington State Code Reviser's Office