Banner Life is part of Legal & General America.

Banner Life Insurance Company

Banner Life Insurance Company and William Penn Life Insurance Company of New York are the companies that underwrite and issue life insurance policies under the Legal & General America brand. We are in the business of providing financial protection through life insurance for families living in America from coast to coast.

At the heart of our business is a genuine concern about our policyholders. We deeply believe in the value of life insurance protection because we know how beneficial it can be. You can count on us to help provide financial security for your loved ones in the event you are no longer here to do that yourself.

Banner, William Penn, and Legal & General America are financially strong, fiscally responsible and committed to business practices that will make sure we will be here when you need us most.

Download our financial strength brochure here.

Our life insurance policies are sold through independent agents and brokers. Because of that independence, you can trust that when an agent recommends Banner we’ve been compared to other companies and proved to be a good match for your life insurance needs.

While Banner is licensed to conduct business in every state and the District of Columbia except New York, we have a subsidiary company to provide protection for families who live there. William Penn Life Insurance Company of New York has been our New York branch for more than twenty-five years. The executives who provide financial management for Banner do so for William Penn as well so policyholders in New York can share the national confidence in our financial strength. William Penn policies are also sold through independent agents and brokers who work in New York.

Who is Legal & General America?

Our parent company, Legal & General Group, formed Legal & General America as a holding company in 1981, and bought Government Employees Life Insurance Company (GELICO) and its NY affiliate. The GELICO name changed to Banner in 1983. William Penn was purchased by Legal & General Group Plc as a wholly owned subsidiary of Banner Life Insurance Company in 1989. While Banner and William Penn remain the companies that underwrite and issue our policies, we go to market under a single name, Legal & General America.


  1. Year-end 2016
  2. LIMRA 2016—US Retail Individual Life Insurance Sales By Channel
  3. Statutory Returns 2016
  4. Year-end 2016 ALIRT Insurance Research
  5. 2015 non-banking assets, 2017 study, A.M. Best
  6. Conversions for year-end 2016, FX 1 GBP = USD 1.24

2016 Financial Strength Ratings

A+ (Superior) from A.M. Best
AA- (Very Strong) from S&P
AA- (Very Strong) from Fitch
94 COMDEX score

Our Parent:
Legal & General Group

A History More Than 180 Years Strong

Founded in 1836 in London where it still has its headquarters, Legal & General Group Plc has operations in Europe, North America and Asia.

7th Largest in the World

Legal & General Group, Plc is the 7th largest insurance company in the world, as measured by assets under management.5

10 Million Worldwide Customers

That's the number of people who rely on L&G for life insurance, pensions, investments and general insurance plans.1

$1.1 Trillion of Managed Assets

Legal & General is one of the world’s largest insurance and investment management groups, with total assets under management of $1.1 trillion as of December 31, 2016.6

Financially Strong

Three of the world's leading independent rating agencies, Standard & Poor's, Moody's and A.M. Best, have recognized Legal & General Assurance Society Limited as one of the UK's top rated companies for financial strength.

Award Winning

Legal & General Group Plc received numerous commendations in 2016 including "Life Assurance Provider of the Year" at the Financial Adviser Life and Pensions Awards.