Colorado Bankers Life Insurance Company

On June 27, 2019, Colorado Bankers Life Insurance Company (CBL) was placed into rehabilitation by the North Carolina Department of Insurance due to financial instability.

On December 30, 2022, the Superior Court of Wake County, North Carolina (“Liquidation Court”) ordered Colorado Bankers Life Insurance Company (“CBL”) into liquidation. The order’s effectiveness was delayed by appeals from GBIG Holdings, LLC (CBL’s parent company). These appeals also postponed the activation of state life and health insurance guaranty associations, delaying payments to policyholders.

On August 23, 2024, the North Carolina Supreme Court resolved the appeals filed by GBIG Holdings, LLC clearing the way for the liquidation process to move forward.

On November 30, 2024, the court-ordered liquidation CBL became effective. The North Carolina Insurance Commissioner was appointed as the Liquidator, tasked with administering CBL’s assets and liabilities under court supervision. As of that date, the individual state Guaranty Associations began providing coverage for CBL insurance policies and annuities, subject to statutory limitations and exclusions. Information can be found at Connecticut Life and Health Insurance Guaranty Association.

More information about this receivership can be found on the following websites:

CBL/BLIC Policyholder Information - NOLHGA

Colorado Bankers Life Insurance