On August 1, 2016 the Texas Department of Insurance issued TRLIC its Certificate of Authority. This approval grants TRLIC the ability to begin its insurance operations. At this time management is developing TRLIC’s initial life insurance products. We are designing products to:
- Provide both living and death benefits to policy holders;
- Provide competitive insurance products throughout our great State;
- Be attractive to individuals, banks, small businesses, groups, and associations; and
- Produce an attractive return to our shareholders.
The State of Texas represents the 10th largest insurance market in the world. According to the latest TDI report in 2013, over $31,000,000,000 in life and annuity premiums were paid by Texas residents. Sadly, over 90% of these premiums were paid to companies located in other states or in foreign countries. We see this as a tremendous marketing opportunity for TRLIC. We believe that, given the chance, Texans would prefer to do business with a Texas company.