Beginnings as Reliable Life and Casualty Company
In 1944 George Stewart founded the Mutual Indemnity Company, a small insurance business
specializing in accident and health insurance. On September 25, 1962, the Mutual
Indemnity Company incorporated Reliable Casualty Company Inc. as a stock company
under the laws of Wisconsin. After receiving its certificate of authority, Reliable
Casualty Company Inc. began operations in 1965. In 1968, Reliable Casualty Company Changed
its name to Reliable Life and Casualty Company ("RLCC"). It existed independently until
1970, when Reliable Investors Corporation was formed as its parent company.
In August, 1981, the Wisconsin Commissioner of Insurance issued an order of rehabilitation
to RLCC and created a separate account in which the company’s assets and liabilities
were transferred. The following month, Dane County Circuit Court placed this
separate account in liquidation.
On September 16, 1986, North American Group, Ltd., formerly known as Reliable
Investors Corporation, prior to its 1984 Chapter 11 bankruptcy reorganization, applied
for reinstatement of the RLCC's certificate of authority. After the business was
released from rehabilitation in 1987, RLCC
changed its name to North American Insurance Company®,
a name by which it’s commonly known today. In 1987, North American Insurance Company® commenced
the writing of all business.
On September 21, 1990, North American Insurance Company® was purchased by a newly
formed holding company, Encore Financial, Inc. In November, 1997, all of Encore
Financial Inc.’s capital stock was purchased by Oxford Life Insurance Company® ("Oxford
Life"), a wholly-owned subsidiary of AMERCO. Encore Financial Inc. was merged with North
American Insurance Company® in 2006 and dissolved on march 28, 2007.
North American Insurance Company® sold North American Fire and Casualty, a subsidiary of North American
Insurance Company®, to an affiliate in 1998.
North American Insurance Company®, a member of the Oxford Life® Family of Companies, has
grown to become one of the industry’s premier third party administrators of Medicare
supplement insurance and continues to provide premiums and claims administration
for active policyholders.