by John Darer ® CLU ChFC MSSC CeFT ® RSP CLTC
Independent Life Insurance Company is a new structured settlement annuity provider, in creation for four years, that has been designed with valuable input from structured settlement industry leaders.
Independent Life Insurance Company is exclusively focused on providing annuities for the structured settlement market.
As a newly formed and capitalized life insurance company, Independent Life does not have legacy structured settlement annuities on its books with pricing out of alignment with today’s low investment environment, factors which contributed to certain companies leaving the structured settlement marketplace in the last decade.
- James D. Atkins, Chief Executive Officer
- Donald J. Herrema, Chief Investment Officer
- Daniel P. Durbin, VP of Marketing and Sales
- Patrick J. Hindert, VP of Business Development
Independent Life's structured settlement value proposition
- Annuities only for the structured settlement market
- Comprehensive medical underwriting for qualifying cases
- Competitive upper-tier pricing
- Unparalleled service and support
- Ongoing financial support for broker and planner initiatives that promote the growth of our industry for the benefit of all stakeholders
- An executive team with previous structured settlement experience totaling over 100 years in marketing, sales, training, and annuity pricing
- Domiciled in a major state with an excellent regulatory reputation
Who is James D. Atkins?
James D. Atkins is the Chief Executive Officer of the Independent Life Insurance Company. Atkins is the former CEO of Legal & General America. Prior to this position Atkins spent 25 years under the GE Financial Services umbrella (First Colony Life Insurance, GE Financial Assurance, and Genworth). During this time he acted in a variety of capacities including the roles of Chief Actuary and Capital Markets Leader. When he joined First Colony it was new in a fledgling structured settlement niche. During his tenure First Colony became one of the largest writers of structured settlement annuities. At its peak First Colony managed in excess of $10 Billion of Structured Settlement contracts. Atkins has broad relationships with the leading reinsurance companies active in the U.S. market and is an experienced insurance company executive.
Who is Donald J. Herrema?
Donald J. Herrema is the Vice Chairman and Chief Investment Officer for Independent Life. Mr. Herrema held a variety of senior leadership positions including being CEO of several, in asset and wealth management, banking, mutual funds, banking and real estate. He began his career at Wells Fargo Bank in his native California, rising through the ranks to become President of Wells Fargo Securities and Head of Mutual Funds. Moving to New York City, Don joined Bessemer Trust, becoming COO and then CEO, leading a period of strong growth in revenues and profitability. Later, he was the Founder, Chairman and CEO of Atlantic Trust, now a subsidiary of CIBC (Canada). Additionally, Don served as Managing Director and Head of Private Wealth Management at Morgan Stanley. He culminated his active working career as Executive Vice Chairman of Kennedy Wilson, a NYSE listed global real estate firm.
Mr. Herrema's Director and Advisor roles include being Independent Chair and Director of TD Bank's US Mutual Funds, Independent Director of AbelNoser Holdings LLC., Independent Director of Lepercq, de Neuflize (both New York City and Luxembourg), Advisor to the Board of Fund Evaluation Group, Senior Advisor at Stone Point Capital, Past President of the Bank Securities Association, Independent Director of Cedars Bank, and an Advisory Board member of Education Equity and NYPPEX. [ Source: LInkedin]
Who is Patrick J. Hindert?
Patrick J. Hindert is Vice President of Business Development for Independent Life. Hindert has been a leader in the structured settlement industry since 1977. He previously served as President of Benefit Designs, a national structured settlement intermediary, which he owned and managed for 22 years. He has also served as President of the National Structured Settlement Trade Association (NSSTA) and as Executive Director of the Society of Settlement Planners (SSP). Hindert is co-author of Structured Settlement and Periodic Payment Judgments, a legal treatise updated semi-annually since 1986, which is utilized by NSSTA and SSP in their certification programs. Hindert previously authored the blog “Beyond Structured Settlements” and has been a frequent speaker at national conferences sponsored by NSSTA, SSP, NAMSAP, ASNP, NASP and NAELA. Hindert served as keynote speaker at the first national structured settlement conference in Australia in 1994. He provided expert testimony to the United States House Ways and Means Committee in 1981 prior to enactment of the Periodic Payment Settlement Act of 1982.
Independent Life Insurance Company is not related to Independent Life & Accident, of Jacksonville, which was merged into American General Life Insurance Company in 1997.
American General was subsequently purchased by AIG in 2001 and it was part of AIG L& Retirement Division, which was renamed Corebridge Financial in a September 2022 spinoff.