Jeffrey Wade
Protective Life Corporation is a financial services holding company headquartered in Birmingham, Alabama. The company has been in business for over a century and was established in 1907. It markets its products and services across all 50 states and has a substantial remote workforce. Protective Life has offices in several locations, including RiverCenter Towers in Covington, Kentucky, and North Outer 40 Road in Chesterfield, Missouri. The company's primary subsidiary, Protective Life Insurance Company, offers life insurance policies and annuity products, providing financial protection and security for individuals and their loved ones.
| Characteristics | Values |
|---|---|
| Type | Financial service holding company |
| Primary subsidiary | Protective Life Insurance Company |
| Year founded | 1907 |
| Location | Birmingham, Alabama |
| Number of employees | 3,800+ |
| Annual revenue | $7.75 billion |
| Assets | $124.5 billion |
| Parent company | The Dai-ichi Life Insurance Company, Limited (Tokyo, Japan) |
| Key people | Richard J. Bielen (President and CEO), Steve Walker (Vice Chairman, Finance and Risk), Scott Adams (EVP, Chief Transformation and Strategy Officer), Mark Drew (EVP, General Counsel and Secretary), Lance Black (EVP, Acquisitions and Corporate Development), Paul Wells (EVP and CFO), Phil Passafiume (EVP, Chief Investment Officer), Wade Harrison (EVP, Chief Retail Officer), Wendy Evesque (EVP and CHRO) |
| Board of directors | Michael J. Morrissey (chair), Richard J. Bielen, Stephen Barnham, Dawn Bulgarella, Joseph Guastella, Bruce Koepfgen, Jesse J. Spikes, Satoshi Takemoto, Mark Tarr, William A. Terry, W. Michael Warren Jr. |
| Products offered | Life insurance, annuities, asset protection, extended service contracts, credit life insurance, disability insurance |
| Life insurance types | Term life, whole life, universal life |
| Coverage limits | $100,000 – $50 million |
| Online resources | Coverage calculators, informational articles, online tax forms, eDelivery |
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What You'll Learn
Protective Life Corporation's headquarters
Protective Life Corporation is a financial services holding company headquartered in Birmingham, Alabama. The company offers a range of insurance products, including life insurance, annuities, and property and casualty insurance, through its various subsidiaries.
Protective Life's presence in Alabama dates back to its merger with Alabama National Insurance Company in 1927. This merger brought Samuel Clabaugh, the president of Alabama National, to Protective, who then became president of the combined companies. Protective's long history in the state was further solidified by its acquisition of Alabama-based United Investors Life Insurance Company in 2010.
The company's primary subsidiary, Protective Life Insurance Company, was established in 1907 and has been providing insurance services for over a century. Protective Life celebrated its 100th anniversary in 2007, showcasing its longstanding presence in the industry.
In addition to its headquarters in Birmingham, Protective Life Corporation has a presence across the United States, with its products and services available in all 50 states. As of 2023, the corporation employed over 3,800 individuals and boasted impressive financial figures, including annual revenues of $7.75 billion and assets totalling $124.5 billion.
Protective Life Corporation's leadership includes Richard J. Bielen, who serves as the company's president and CEO. The company was acquired by The Dai-ichi Life Insurance Company, Limited, based in Tokyo, Japan, in 2015. This acquisition expanded Protective Life's reach and further solidified its position in the insurance industry.
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Protective Life Insurance Company
Protective Life Corporation has over 3,800 employees and reported annual revenues of $7.75 billion and assets of $124.5 billion as of December 31, 2023. The company's leadership includes Richard J. Bielen (President and CEO), Steve Walker (Vice Chairman, Finance and Risk), and Scott Adams (EVP, Chief Transformation and Strategy Officer), among others.
In addition to its financial services, Protective Life has demonstrated a commitment to social responsibility. The company established the Protective Life Foundation, which focuses on supporting education and promoting the healthy development of at-risk youth. Additionally, Protective Life has shown a dedication to sustainability practices and building a more sustainable future.
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Protective Life's subsidiaries
Protective Life Corporation is a financial services holding company based in Birmingham, Alabama. It was acquired by The Dai-ichi Life Insurance Company, Limited (Tokyo, Japan) on February 15, 2015. The company's primary subsidiary, Protective Life Insurance Company, was established in 1907 and now markets its products and services in all 50 states. As of December 31, 2023, the corporation has more than 3,800 employees, annual revenues of $7.75 billion, and assets of $124.5 billion.
Protective Life Insurance Company offers life insurance and annuities, including immediate, fixed, indexed, and variable products. Annuities are marketed through broker-dealers, financial institutions, and independent agents and brokers. In addition to Protective Life Insurance Company, Protective Life Corporation's subsidiaries include:
- West Coast Life Insurance Company: Acquired by Protective Life in 1997, West Coast Life is a nationwide provider of insurance solutions, including life insurance products and annuities.
- MONY Life Insurance Company: Acquired by Protective Life in 2013 for a total transaction price of $1.06 billion. MONY Life Insurance offers life insurance policies and annuity contracts.
- Protective Life and Annuity Insurance Company: Established in 1978 as part of the Protective Life Insurance Group. This subsidiary is licensed in multiple states and primarily underwrites and issues Protective Life products in New York.
- Concourse Financial Group: This subsidiary is part of the Protective Life Corporation family of companies, sharing the same core values and commitment to ensuring the financial success of its customers, shareholders, and partners.
- Protective Property and Casualty Insurance Company: This subsidiary is also aligned with Protective Life's vision and values, providing asset protection and marketing extended service contracts to protect consumers' investments in automobiles, watercraft, and recreational vehicles.
These subsidiaries allow Protective Life Corporation to provide a comprehensive range of insurance and financial services to its customers across the United States.
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Protective Life's history of acquisitions
Protective Life Corporation is a financial services holding company based in Birmingham, Alabama, with offices in Alabama, Missouri, and Kentucky. The company's primary subsidiary, Protective Life Insurance Company, was established in 1907 and now markets its products and services in all 50 states.
Protective Life has a long history of acquisitions, with its 50th overall acquisition being that of Protective Life and Annuity Insurance Company. In 2006, Protective Life acquired the Chase Insurance Group, which was its largest acquisition at the time. In 2010, the company acquired the Alabama-based life insurance company United Investors Life Insurance Company from Torchmark. Three years later, in 2013, Protective Life Insurance Company completed the acquisition of MONY Life Insurance Company for $1.06 billion. In 2014, Dai-ichi Life Holdings, Inc. acquired Protective Life in a $5.7 billion deal. This was followed by Protective Life's acquisition of Great-West Life & Annuity Insurance Company in 2019, which was its largest acquisition to date, representing a capital investment of approximately $1.2 billion. This acquisition marked Protective's entrance into the executive benefits market and was its 57th acquisition overall.
In addition to these major acquisitions, Protective Life has also acquired several other companies to expand its presence and enhance its product offerings. These include West Coast Life Insurance Company, acquired in 1997, and Protective Property and Casualty Insurance Company. Protective Life has also established subsidiaries such as Concourse Financial Group to diversify its business and better serve its customers' financial needs.
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Protective Life's insurance products
Protective Life Corporation is a financial services holding company based in Birmingham, Alabama. The company's primary subsidiary, Protective Life Insurance Company, was established in 1907 and now markets its products and services in all 50 states. Protective Life offers a range of insurance products, including life insurance and annuities.
Life insurance from Protective Life provides financial security for individuals and their loved ones. It helps protect their lifestyle, pass on a legacy, and cover essential expenses during difficult times. The company offers both term and permanent life insurance options. Term life insurance provides coverage for a specified number of years, while permanent life insurance offers lifetime coverage. Policyholders can choose from various policy types, including growth options based on accumulation objectives and risk tolerance.
In addition to life insurance, Protective Life offers annuities, including immediate, fixed, indexed, and variable products. Annuities provide individuals with a source of income during retirement, helping them feel confident and secure about their future. Protective Life's commitment to its customers extends beyond its insurance products. The company strives to make the claims process simple and convenient, especially during challenging times such as the loss of a loved one.
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Frequently asked questions
Protective Life Insurance's headquarters is in Birmingham, Alabama. They also have offices in Covington, Kentucky, and Chesterfield, Missouri.
Protective Life Insurance's main office is in Birmingham, Alabama.
Protective Life Insurance's headquarters is located at Protective Stadium, Birmingham, Jefferson Convention Complex, Alabama.
Protective Life Insurance's Kentucky office is located at RiverCenter Towers, 50 East RiverCenter Blvd Suite 1600, Covington, KY 41011.
Protective Life Insurance's Missouri office is located at 14755 North Outer 40 Road Suite 400, Chesterfield, MO 63017.
