Protective Life Corp.
Protective Life Corp. is a holding company with subsidiaries that provide financial services through the production, distribution, and administration of insurance and investment products. It markets individual life insurance, credit life and disability insurance, guaranteed investment contracts, guaranteed funding agreements, fixed and variable annuities, and extended service contracts throughout the United States. The company operates its business through six segments: Life Marketing, Acquisitions, Annuities, Stable Value Products, Asset Protection and Corporate and Other. The Life Marketing segment markets universal life, variable universal life, bank-owned life insurance, and level premium term insurance products on a national basis primarily through networks of independent insurance agents and brokers, stockbrokers, and independent marketing organizations. The Acquisitions segment focuses on acquiring, converting, and servicing policies acquired from other companies. This segment primarily focuses on life insurance policies and annuity products that were sold to individuals. The Annuities segment markets fixed and variable annuity products. These products are primarily sold through broker-dealers, financial institutions and independent agents and brokers. The Stable Value Products segment sells guaranteed funding agreements to special purpose entities that in turn issue notes or certificates in smaller, transferable denominations. This segment also markets fixed and floating rate funding agreements directly to the trustees of municipal bond proceeds, institutional investors, bank trust departments, and money market funds. The Asset Protection segment markets extended service contracts and credit life and disability insurance to protect consumers' investments in automobiles, watercraft, and recreational vehicles. This segment also offers a guaranteed asset protection product. The Corporate and Other segment consists of net investment income, including the impact of carrying excess liquidity; expenses not attributable to the segments above, including interest on debt; and a trading portfolio that was previously part of a variable interest entity. Protective Life was founded by William Dorsey Jelks in 1907 and is headquartered in Birmingham, AL.