Southland National Insurance Company, domiciled in North Carolina, sold pre-need funeral policies. It is part of the Global Bankers Insurance Group, which in turn is part of a larger group of companies known as Global Growth (formerly known as Eli Global), which is owned by Greg Lindberg. The company was placed in rehabilitation by order of the Superior Court of Wake County, North Carolina, on June 27, 2019.
On March 12, 2021, the Rehabilitator filed a petition in the Court seeking to place Southland National into liquidation. On April 14, 2021, GBIG Holdings, LLC filed an objection to the Liquidation Petition. GBIG Holdings is the parent of SNIC and is owned ultimately by Lindberg. After a hearing before the Court, the Rehabilitator and GBIG Holdings filed a Joint Motion to Stay the Proceedings on June 8. 2021. The Court granted the Joint Motion to Stay on July 7, 2021. On February 24, 2022, the Receiver filed a Request for Hearing on the Liquidation Petition. A hearing regarding that request is scheduled for March 11, 2022. As a result, Southland National remains in rehabilitation.
In the fourth quarter of 2021, Universal Fidelity Life Insurance Company began servicing a portion of the company’s business.
NAIC Number: 79057
An NAIC number is a five-digit number assigned to every insurance company by the NAIC (National Association of Insurance Commissioners). Because each company has its own unique number, the NAIC number can be used to identify a particular company.
Domiciliary State: North Carolina
The domiciliary state is the state in which an insurance company is incorporated or organized.
Rehabilitation Date: June 27, 2019