NU Online News Service, June 14, 12:07 p.m. – Legacy Marketing Group, Petaluma, Calif., a financial services distribution unit of Regan Holding Corp., says Investors Insurance Corp. will be helping it develop new products for its network of wholesalers and independent agents.
The first product, an equity index fixed annuity, will be released this summer, Legacy says.
Investors Insurance is a unit of SCOR Life U.S. Re Insurance Company, Dallas, which in turn is an affiliate of SCOR, Paris, a large French reinsurer.
SCOR will reinsure the Legacy/Investors Insurance portfolio, Legacy says.
The deal is set up in such away that Regan Holding could gain control over Investors Insurance after a five-year period, Legacy adds.
Regan Holding is an agent-owned company. Regan’s Legacy unit has generated $7.4 billion in fixed annuity premiums over the past five years, according to company figures.