Company Overview of Colonial Life & Accident Insurance Company
Colonial Life & Accident Insurance Company provides supplemental insurance products. Its products include accident, disability, cancer, critical illness, and life and hospital confinement coverage. Colonial also offers claims, policyholder, and account services. The company was founded in 1939 and is based in Columbia, South Carolina. Colonial Life & Accident Insurance Company operates as a subsidiary of Unum Group.
1200 Colonial Life Boulevard West
Columbia, SC 29202-1365
Founded in 1939
Key Executives for Colonial Life & Accident Insurance Company
Senior Vice President of Finance and Risk Management
Chief Executive Officer- Colonial Supplemental Insurance and President - Colonial Supplemental Insurance
Senior Vice President of Customer Service and Information Technology
Senior Vice President of Customer Acquisition Services
Compensation as of Fiscal Year 2015.
Colonial Life & Accident Insurance Company Key Developments
Colonial Life Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2015
Apr 29 15
Colonial Life reported unaudited earnings results for the first quarter ended March 31, 2015. The company reported a 1.9% decline in operating income to $77.6 million in the first quarter of 2015 compared to $79.1 million in the first quarter of 2014. Premium income increased 5.0% to $332.2 million compared to $316.4 million in the first quarter of 2014, driven by sales growth and favorable persistency. The benefit ratio in the first quarter of 2015 was 51.3% compared to 50.5% in the first quarter of 2014, primarily reflecting a less favorable benefit ratio in the life product line. Sales increased 7.6% to $77.5 million in the first quarter of 2015 from $72.0 million in the first quarter of 2014, with favorable sales trends in both the core commercial and public sector market segments.
Colonial Life Announces Earnings Results for the Third Quarter of 2014 and Sales Results for the Nine Months of 2014
Oct 30 14
Colonial Life announced earnings results for the third quarter of 2014 and sales results for the nine months of 2014. The company generated another strong quarter at $71.2 million of operating earnings compared to $69 million a year ago. The underlying profitability remains excellent, producing an operating ROE of 16% for the quarter. Sales increased 13% for the third quarter compared to the same period in 2013.
Sales increased 9% for the year-to-date compared to the same period in 2013.
Colonial Life & Accident Insurance Company Unveils Two New Life Insurance Plans
Aug 25 14
Colonial Life & Accident Insurance Company's newest life insurance products offer America's employers and their employees more options to protect and preserve what they have worked so hard to build. The new products include an employer-paid group term life plan and a long-term care benefit rider on whole life insurance policies. Colonial Life's new group term life insurance product allows employers to conveniently provide a popular benefit to employees. Term life insurance is an affordable option that can help employees and their families replace lost income in the event of a death and is guaranteed-issue, meaning no health questions for employees. The employer-paid option uses a composite rate structure, which means the same rate for all employees, regardless of age or tobacco use. The group term life insurance coverage also can be offered on an employee-paid basis and provides options tailored for both large and small accounts. For small accounts, program administration is simple. For larger accounts, employers can customize additional options to fit the needs of their employees.
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