The insurance company that began as part of Kemper Life in 1905 will begin its second century with the name Chase Insurance, reflecting its new role as the insurance arm of JPMorgan Chase & Co.
Chase Insurance provides financial solutions for individuals and institutions, including variable and fixed annuities for long-term accumulation, low-cost term life insurance and universal life.
The insurance company that today is Chase Insurance began doing business in 1905 as part of the Kemper Life Companies and became part of Zurich Life in the 1990s. Bank One purchased several Zurich Life companies in 2003, changed the name to One Life, and established its insurance headquarters in Elgin, Ill. Bank One itself merged into JPMorgan Chase in July of 2004.
“We thrived for 100 years because we have delivered the products our customers want and the service they expect,” said Jim Harlin, CEO of Chase Insurance in Cicago. “As part of JPMorgan Chase, we can assure Chase Insurance customers that we will be here for them today, tomorrow and throughout their lives.”
Chase Insurance will continue to distribute its products through its national network of independent agents, directly to consumers and to Bank customers. Chase Insurance has insurance operations in all 50 states.
Chase Insurance includes: Chase Insurance Life and Annuity Company;
Chase Insurance Life Company; Chase Insurance Life Company of New York; Chase Life and Annuity Company; and Chase Life and Annuity Company of New York.
Chase Insurance (www.ChaseInsuranceCompany.com), which is part of Retail Financial Services at JPMorgan Chase, generated $168 million of net revenue and $20 million of operating income during the third quarter of 2004. JPMorgan Chase & Co. (NYSE: JPM) has assets of $1.1 trillion and operations in more than 50 countries.
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