Bankers Financial Corporation Sells Life Insurance Business to Global Bankers Insurance Group

ST. PETERSBURG, Fla. and DURHAM, N.C, Dec. 15, 2016 /PRNewswire/ -- Bankers Insurance Group, a member of a group of companies within St. Petersburg-based Bankers Financial Corporation, today announced the sale of Bankers Life Insurance Company (BLIC) to Global Bankers Insurance Group, an insurance affiliate of Eli Global, effective December 15^th.

BLIC, which offers a range of annuity options, will remain based in St. Petersburg. The deal has received regulatory approval from all required parties. Terms were not disclosed.

"The BLIC portfolio reinforces our commitment to providing policyholders convenient and affordable options to meet their individual financial planning needs," said George Luecke, Vice Chairman & Co-CEO of Global Bankers. "We look forward to providing our BLIC customers with the level of service our current policyholders have learned to expect over many years."

"This sale strengthens our balance sheet and allows us to focus on our key product lines while better positioning us with external stakeholders, " said John A. Strong, Chairman and CEO, Bankers Financial Corporation. "We are excited the staff at BLIC will remain members of the Tampa Bay community."

Bankers Life Insurance Company will continue to maintain the BLIC name.

About Bankers Financial Corporation

Bankers Financial Corporation is a 40-year old private, diversified financial services company based in St. Petersburg, FL. The 750 associates at Bankers offer outsourcing solutions for claims, policy and flood products for insurers; insurance tracking for lenders; human resources solutions as a professional employer organization for small business; warranties for consumer electronics and new homes; insurance and maintenance services for properties, businesses and builders; and surety bonds for bail.

Bankers Financial Corporation ranks #26 out of 200 companies in the Tampa Bay Business Journal's latest list of the largest private companies in Tampa Bay.

BFC Contact: Arun Khosla  Tel. 727.823.4000 ext. 4106
Email: [email protected]

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/bankers-financial-corporation-sells-life-insurance-business-to-global-bankers-insurance-group-300379264.html

SOURCE Bankers Financial Corporation