Wilton Re life insurance

Overview

Wilton Re is a life insurance and reinsurance group based in Norwalk, Connecticut. Its main business is taking over life insurance and annuity policies that other insurers no longer want to keep, either by buying the company that issued them or by reinsuring the block. That means many people who never chose Wilton Re are now its policyholders: owners of former Allstate Life Insurance Company of New York, Conseco Life, Continental Assurance (CNA) and other policies. The Wilton Re group ranked #50 among U.S. life insurance groups by 2024 individual life direct premiums written, according to NAIC market share data, with about $675.1 million in premiums and a 0.43% market share. Most of those premiums come from policies sold years ago by companies Wilton Re acquired.

Wilton Re is owned by the Canada Pension Plan Investment Board (CPP Investments), which manages Canada's national pension fund. The ultimate parent is Wilton Re Ltd., a Nova Scotia, Canada, company. It is a long-term pension investor rather than a private equity fund, but like private-equity-backed insurers its strategy centers on acquiring in-force business; see private equity's push into life insurance.

One Wilton Re company still sells new policies. Texas Life Insurance Company of Waco, founded in 1901, sells voluntary permanent life insurance to employees through their employers.

History

Wilton Re was built by a group of investors led by Stone Point Capital, Kelso & Company, Vestar Capital Partners and FFL, with Chris Stroup as chairman and CEO. On July 1, 2014, CPP Investments completed its acquisition of Wilton Re Holdings Limited and all its subsidiaries for US$1.8 billion. That included Wilton Reinsurance Bermuda Limited, Wilton Reassurance Company (Minnesota), Wilton Reassurance Life Company of New York and Texas Life. It was the pension fund's first direct investment in the insurance business.

The group has grown largely through acquisitions of closed blocks and whole companies:

• Continental Assurance Company, a former CNA life insurer, is now Wilcac Life Insurance Company. Its term, universal life, annuity, structured settlement and pension business is serviced by Wilton Re.
• Conseco Life Insurance Company was bought from CNO Financial for about $237 million. The deal closed July 1, 2014 and brought about $3.4 billion of statutory reserves. It became Wilco Life Insurance Company and is now serviced under Wilcac. Its policies included older Conseco, Philadelphia Life and Massachusetts General business.
• Allstate Life Insurance Company of New York was sold by Allstate to Wilton Re in a deal that closed October 1, 2021. Allstate put the total value at about $400 million. Those policies are now part of Wilton Re Life Company of New York.
• Former New York blocks of The American Life Insurance Company of New York, North American Company for Life and Health Insurance of New York, Utica National Life and Keystone State Life are also serviced by Wilton Re's New York company.
• Lumico Life Insurance Company and Elips Life Insurance Company, Swiss Re's U.S. iptiQ carriers, were bought from Swiss Re for $125 million in cash; the agreement was signed December 30, 2025 and the sale closed April 1, 2026, according to Swiss Re's Half-Year Report 2026. Lumico had stopped taking new applications in January 2025 and keeps servicing its term, whole life, final expense and Medicare Supplement policies; see Lumico Life.

In August 2026, Wilton Re and Sun Life announced a partnership to form Windsor Life Re, a U.S.- and Bermuda-domiciled reinsurer managed by Wilton Re. Sun Life's SLC Management will be lead asset manager. Windsor Life Re is to reinsure an initial in-force block of about US$1.7 billion from Wilton Re and take a quota share of future blocks. It is expected to launch in the first half of 2027, pending regulatory approval. The deal does not change who services existing Wilton Re policies.

Life insurance products

Most Wilton Re companies do not sell new policies. If your policy was issued by one of the insurers above, Wilton Re now administers it under the original contract terms. Premiums, cash values, guarantees and death benefits stay as written. See when your life insurance policy is sold to another company.

Texas Life is the exception. It entered the voluntary benefits market in 1998 and sells individual permanent life insurance through employers by payroll deduction (voluntary life insurance). Its current product, PureLife-PLUS, is a universal life policy with minimal cash value that can last to age 121. Premiums are level and guaranteed for a significant period. After that they may go down, stay the same or go up. If future premiums needed to keep coverage rise, the policy has a limited right to a partial refund of premium (conditions apply). Employees must be actively at work to apply. Coverage for children and grandchildren has some state limits, including Washington and Maryland.

Other products

Wilton Re's main business is institutional: reinsurance and acquisitions of in-force life insurance, annuities, long-term care and longevity risk for other insurers. It also offers capital support for some insurers' new business and "private labeling" of products. Its acquired blocks include deferred and payout annuities, group annuities, structured settlements and pension contracts.

Buying and service

The only way to buy new coverage in the group is a Texas Life policy offered through your employer. Employers interested in offering it can call Texas Life at 800-283-9233. Texas Life customers can log in online or call 800-283-9233. Texas Life warns that it will never call asking for payment information.

If your policy came from an acquired company, use the phone number Wilton Re publishes for that block:

• Former Allstate Life Insurance Company of New York (policy numbers generally starting with "03", "GA", "LB" or "7"): 800-262-1028.
• Former American Life Insurance Company of New York (numbers generally starting with "2000" and ending in "E"): 866-313-6211.
• Former North American Company for Life and Health of New York: term policies 877-364-1147; annuities 800-922-0331.
• Former Utica National Life: 866-406-8213. Former Keystone State Life: 800-243-4382.
• Wilcac (former Continental Assurance): term, universal life and deferred or payout annuities 866-880-3112; annuity and group annuity contracts 800-304-3454; structured settlements 877-633-5217; pensions 800-351-3001.
• Former Wilco Life (Conseco, Philadelphia Life, Massachusetts General): 844-877-6907.

Claims

For a death claim on an acquired policy, call the block's service number above. Texas Life does not post claim forms online because they are contract specific. Beneficiaries should call 800-283-9233 to speak with a claims representative or write to Texas Life at P.O. Box 830, Waco, TX 76703. Have the policy number and a certified death certificate ready. If you are searching for an old Conseco, CNA or Allstate New York policy and do not know who holds it now, the The NAIC Life Insurance Policy Locator: how to use it can help.

Ratings and reputation

On November 7, 2025, AM Best affirmed the A+ (Superior) financial strength rating of Wilton Re's key life, health and annuity subsidiaries, with a stable outlook. Texas Life cites the same A+ rating. On June 30, 2026, Fitch affirmed the A- insurer financial strength ratings of Wilton Re's U.S. and Bermuda operating companies and a BBB issuer default rating for Wilton Re Ltd., with a stable outlook. The gap between AM Best's A+ and Fitch's A- is worth noting. Wilton Re is not ranked in the J.D. Power U.S. Individual Life Insurance Study.

Consolidators like Wilton Re are often criticized for using affiliated reinsurers in Bermuda and other jurisdictions. They are defended for giving sellers a way to exit old blocks while keeping policies in force. Policies issued by Wilton Re's U.S. companies remain covered by state guaranty associations.

Who it suits

Wilton Re matters mainly to people who already own an acquired policy and need to know where to call. For new buyers, Texas Life suits employees who want low-cost permanent coverage by payroll deduction and can accept that premiums are guaranteed only for a period. It suits less well anyone who wants an individually purchased policy outside the workplace.

• Strengths: A+ (Superior) from AM Best (November 2025); a published phone directory for every acquired block; backing from CPP Investments; Texas Life's long history (since 1901) and focus on worksite permanent life.
• Weaknesses: Most companies sell nothing new; Fitch rates the operating companies lower, at A-; service is split across many former company names and phone numbers; Texas Life's PureLife-PLUS premiums are not guaranteed for life.

How to contact Wilton Re