Continental General Insurance Company (together with its affiliates, “Continental General” or the “Company”) today announced that it has completed the acquisition of a block of insurance and annuity policies issued by Southland National Insurance Corporation (“SNIC”) from the state life and health insurance guaranty associations in a transaction coordinated by the National Organization of Life and Health Insurance Guaranty Associations (“NOLHGA”).
The acquired block is made up of approximately 60,000 life insurance and annuity policies across a variety of states. The policies are predominantly single premium and limited-pay whole life products with associated riders. The policies were originally issued by SNIC and became the statutory obligations of the applicable state guaranty associations on May 2, 2023, following the court-ordered liquidation of SNIC. Effective April 1, 2026, Continental General has assumed the guaranty associations’ covered obligations for the SNIC policies, including all related liabilities and assets.
As a result of this transaction, the policyholders will benefit from Continental General’s specialized expertise in managing financial risk. Continental General brings long-term stability, anchored by more than 60 years of experience, operational excellence, and specialized administration capabilities.
Michael Gorzynski, Executive Chairman of Continental General, commented:
“We are pleased to have the opportunity to work alongside the NOLHGA team for the second time this year to deliver a stable, long-term home for policyholders. We appreciate the work between our teams and are committed to supporting policyholders with the care, focus and reliability they expect from Continental General.”
David Ramsey, President and Chief Executive Officer of Continental General, commented:
“Continental General is proud to continue our partnership with the state guaranty associations and NOLHGA to provide SNIC policyholders with long-term stability and continuity of coverage. We are confident that we have the operational expertise and administrative infrastructure to deliver a seamless transition for these policyholders.”
Following the acquisition, policyholders will receive a certificate of assumption confirming that Continental General has assumed responsibility for their policy benefits and obligations. All policy terms and benefits remain unchanged since the date of Liquidation.
This marks the second transaction between Continental General and NOLHGA this year as it follows the Company’s January 2026 acquisition of two blocks of insurance policies from the state life and health insurance guaranty associations that were originally issued by Bankers Life Insurance Company and Colorado Bankers Life Insurance Company.
About Continental General
Since our founding in 1961, Continental General has been dedicated to serving policyholders, claimants, and their families with reliable insurance solutions. Headquartered in Austin, Texas, we have grown into trusted providers through our commitment to care and excellence, supporting policyholders through our family of companies and strategic partners. Learn more about Continental General at www.cgic.com.
TPA Services provided by Continental General Services, LLC (in California doing business as Continental General Administrative Services and in New York as Continental General Insurance Services, LLC).
Continental Insurance Group, Ltd. (“CIG”) is the parent company of Continental General Management, LLC (“CGM”), Continental General Insurance Company (“CGIC”), and Continental General Services, LLC (“CGS”). CIG, CGM, CGIC, and CGS are all wholly owned subsidiaries of Continental General Holdings, LLC (“CGH”).
CGIC is a stock life, accident and health insurance company existing under the laws of the State of Texas and is a licensed insurance carrier in forty-nine states, the District of Columbia, and the U.S. Virgin Islands.
Continental General is an umbrella marketing name for CGM, CGIC, and CGS.
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