The history of Banner Life Insurance Company is more than 50 years strong. Chartered in 1949 as Government Employees Life Insurance Company (GELICO), Banner was acquired by Legal & General Group Plc as a wholly owned subsidiary in 1981.

Banner Life's subsidiary, William Penn Life Insurance Company of New York, joined the corporate group in 1989. Since that time, management for both companies has been consolidated at the senior level. Banner Life's national presence, William Penn's nearly 40 years of brokerage experience and the operational synergy between both companies is a strong combination.

Banner's life insurance products are sold through independent life brokerage agencies in 48 states and the District of Columbia.

Real life means keeping promises.

Banner Life takes financial promises seriously. Banner believes in offering low-cost, innovative products and responsive service.

At year-end 2004, on a GAAP consolidated basis, Banner Life had:

Over $246 billion of life insurance in force

Over $3.5 billion in assets

An investment portfolio that consisted of 100% investment grade assets, including 21% U.S. government and U.S. government agency holdings

No real estate or commercial mortgages