November 17, 2011

Important Update Concerning Executive Life Insurance Company of New York

In connection with the liquidation of Executive Life Insurance Company of New York (ELNY), the New York Superintendent of Financial Services (Superintendent) filed on Nov. 7 the much anticipated Schedule 1.15 to the Restructuring Agreement between the Superintendent, the National Organization Of Life And Health Guaranty Associations (NOLHGA), and the participating state guaranty associations (PGAs). Consequently, for the first time, annuity owners can evaluate their exposure under the Restructuring Agreement, and determine whether they are receiving that to which they are entitled under the state guaranty association acts.

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