Shenandoah Life Sales Suspended

[AtlantaLife&Health]

May have something to do with the $70 million they lost last year (out of a $1.6 billion portfolio). Duh!

44% loss... Guess they got caught too heavily leveraged in RE, along with others that forgot the basic principle of diversification! Just a guess...

Your math is wrong. I don't think a mere 70 Million our of 1.6 Billion would cause them all the troubles that they have. 70 million, 700 million, 999 million, then you hit 1 billion. Check your math. The percentage is more like 4.3%. Just thought I'd put my two cents in real quick.

 

[DS4]

I just read this post from start to now. Took me four Sierra Nevada Pale Ales. In the 80's, I was slowly transitioning out of life and into health 100%. My two primary life companies where First Farwest Life (Oregon), and, Pacific Standard Life (California). Because of heavy losses in junk bonds (remember them?) both companies went into receivership. I guess it was in the cards for me to get into health insurance 100%. lol. My commissions with First Farwest Life stopped very soon in receivership. This company was been assumed many times over the past 20 years. Never again did I receive commissions on this business. Last I heard Mega Life had the contracts. The Pacific Standard Life block was sold to Hartford. To this day, I still receive qtly commission statements from Harford yet I'm not list as AOR?. Now, back to my beer.

 

[G.Gordon]

You need to get some Sierra Nev Celebration seasonal brew. Darn good, highly rated, beer that you can't get year round.

 

[Russ]

I recently received an email from Shenandoah Life about a sizable rate increase in most states on Medicare supplement business. Some states were going up as much as 25-30%.

I would say I have about 60-65% left...of what I had...with Shenandoah Life. Down to one med-supp.

Still no word on any resolution. Coming up on one-year...February 12th.

 

[Russ]

Update on Shenandoah Life on the one-year anniversary of the receivership.......

https://www.shenlife.com/home/wcm/news/2010004imo.pdf

 

[Mark]

I would not touch them with a 10 foot pole if they did ever come back.

THe damage is done.

 

[Russ]

I would not touch them with a 10 foot pole if they did ever come back.

THe damage is done.

I wouldn't write for them either. I've got several other companies to choose from...MoO...Settlers....Lafayette Life and now Foresters.

Looks like they've lost over 70 employees since this started.

 

[Mark]

I wouldn't write for them either. I've got several other companies to choose from...MoO...Settlers....Lafayette Life and now Foresters.

Looks like they've lost over 70 employees since this started.

I"m loving Foresters Life "BIGUL" product.

 

[Russ]

Shenandoah Life, its policyholders battle over cash - Roanoke.com

 

[Mark]

I wonder how much longer they will keep paying the agents their renewals...