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Virginia Insurer Wants Annuity And Life Re America

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Heritage Union L.L.C. has asked Connecticut insurance regulations for permission to acquire a unit of a life reinsurer.

The target, Annuity and Life Reassurance America Inc., Windsor, Conn., is part of Annuity & Life Re (Holdings) Inc., Hamilton, Bermuda, a reinsurer that stopped selling reinsurance after it ran into underwriting problems.

Heritage Union, Richmond, Va., is the parent of Heritage Union Life Insurance Company, which sells accidental death insurance and other products.

The Connecticut Insurance Department plans to hold a hearing on the application Jan. 31, officials say.

The price of the deal and other terms were not immediately available.

A copy of the hearing notice is available at