Our company was formed in Wisconsin in 1892 as the LaCrosse Mutual Aid Association to provide disability insurance for local workers.
In 1896, an experienced insurance executive named Jerome O. Paddock became President of the company. By 1900, he had moved the headquarters to the Germania Building in downtown Milwaukee (now on the U.S. National Register of Historic Places), where it would be based for many years, and renamed it Time Insurance Company. In 1910, the company reorganized as a stock company, completing one of the first demutualizations in the United States. Time was a pioneer as the first (and for many years the largest) insurance company to offer health insurance in Wisconsin.
In 1978, the company was purchased by an insurance holding company in the Netherlands called N.V. AMEV, which in 1990 renamed the company Fortis Insurance Company. For many years, Fortis was an active national provider of annuities and life insurance, disability insurance, long-term care insurance and health insurance.
In 2000, the company sold its business of long-term care insurance through reinsurance to John Hancock, which has been administering those policies since then.
In 2001, the company sold its business of annuities, life insurance and disability insurance through reinsurance to The Hartford. In 2013, many of these policies were further sold to Prudential, also through reinsurance. The Hartford (now through its spinoff Talcott Resolution) and Prudential have been administering those policies since then.
In 2004, the company became a subsidiary of Assurant, Inc., and in 2005 changed its name back to Time Insurance Company. Assurant stopped selling new policies and placed the company in runoff in 2015.
Finally, in 2015, the company sold its supplemental and small group health insurance business to Integon, also known as National General and formerly known as GMAC Insurance. Integon has been administering those policies since then.
On December 3, 2018, Haven Holdings Inc. acquired Time Insurance Company from Assurant, Inc. and redomesticated it to San Juan, Puerto Rico.
Time Insurance Company redomesticated back to Wisconsin on February 28, 2020. Time Insurance Company was placed in rehabilitation in Wisconsin on May 18, 2020. For more information click here.
Haven Holdings Inc. is an insurance holding company headquartered in San Juan, Puerto Rico, formed to acquire closed blocks of insurance policies in runoff, with the goal of creating long-term value for its stakeholders through carefully structured acquisitions and focused asset and liability management. Haven Holdings Inc. is actively seeking closed blocks of annuities, life insurance, health insurance, long-term care insurance, disability insurance, workers compensation insurance, pre-need insurance, long-tail property and casualty insurance and structured settlements. For more information about Haven Holdings Inc. please see www.havenholdingspr.com