Chase vows to keep helping clients meet insurance needs via third parties. Early last week Protective Life Insurance acquired Chase Insurance, consisting of five firms that manufacture and distribute traditional life insurance and annuities, and the stock of four related non-insurance companies from JPMorgan Chase.

Third parties

Protective reinsured about 40% of Chase Insurance's non-variable-annuity business to insurance subsidiaries of Wilton Re Holdings, and 100% of the variable-annuity business to a subsidiary of Goldman Sachs.

JPMorgan Chase said it would continue to meet customers insurance and annuity needs through third-party providers.

Birmingham, Ala.-based Protective Life Corporation provides financial services through the production, distribution and administration of insurance and investment products throughout the U.S. On 31 March 2006 it had around $29.0 billion in assets.

Elgin, Ill.-based Chase Insurance offers primarily level premium term and other traditional life products as well as fixed and variable annuity products. On 31 March 2006, it had approximately 1.2 million life insurance and annuity policies in-force and statutory reserves of approximately $7.0 billion. -FWR

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