Union Labor Life Insurance Company
| Private | |
| Industry | Financial services |
| Headquarters | Washington, D.C., United States |
| Products | Insurance: Life & Health |
| Website | www |
Ullico Inc. is a privately held insurance and financial services holding company in the United States. Formerly known as Union Labor Life Insurance Company, it was founded in 1925 by the American Federation of Labor (AFL) and its then president, Samuel Gompers, to offer health and life insurance products specifically to America’s working men and women. Matthew Woll, president of the Photo Engravers Union, became the company’s first president. Today, Ullico is one of the largest insurers, risk solutions and investment managers focused on the union marketplace in the United States. It is based in Washington, D.C.
Ullico Inc.'s mission is to provide financial security to union members and their families. The company provides specialty insurance and investment products to labor organizations, union employers, municipalities and institutional investors, as well as union members and retirees. Ullico is a privately held, . The company's constitution and bylaws permit shares to be held only by trade unions, union officials, union members and union benefit funds. The stock's value changes once a year when company directors set a new share price based on the advice of independent auditors.
As of 2009, the company insured more than two million union members and dependents through $25 billion in Life, Accidental Death and Dismemberment insurance. Further, more than six million members were served through $125 million in gross written Property and Casualty premiums. Ullico had $5.5 billion in assets and a consolidated GAAP Equity of nearly $240 million.
Ullico Inc. consists of The Union Labor Life Insurance Company (Union Labor Life), Ullico Casualty Group Inc., Ullico Investment Advisers Inc. and Ullico Investment Company Inc. These companies fall into three divisions: Life and Health (Union Labor Life), Property and Casualty (Ullico Casualty Group) and Investment Services (Ullico Investment Advisers Inc. and Ullico Investment Company Inc.)
More than 85 years ago, The Union Labor Life Insurance Company (Union Labor Life) became the founding unit of Ullico Inc. Today, Union Labor Life provides life and health solutions specifically tailored for the labor market. Through alliances with market leaders in risk protection, the company offers an array of insurance products for unions, jointly managed trust funds and organized employers as well as supplemental insurance programs that are directly marketed to union members, retirees and their families. Products including:
...
Wikipedia