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Banner Life's home office is located in Rockville, Maryland, just minutes away from our nation's capital. Legal & General subsidiary Banner Life Insurance offers various life insurance products, sold through independent brokers in 49 states and in the District of Columbia. The company has been in business for more than 50 years, having started out as Government Employees Life Insurance Company (GELICO). Legal & General bought the company in 1981 and changed its name to Banner Life two years later. Banner Life and its sister company William Penn Life Insurance Company of New York are the primary operations of Legal & General America. Banner Life is a subsidiary of The Legal and General Companies of America. At year end 2000, on a GAAP consolidated basis, Banner Life had assets of $2.4 billion and $105 billion of life insurance in force.
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. The company believes in offering low-cost, innovative products and responsive service. And their goal is to build lasting, mutually beneficial partnerships for life.
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