Amalgamated Life and Health Insurance Company

“The Certificate of Authority and Articles of Incorporation were cancelled effective 6/30/2021.”

“The organization had a sole stockholder, the Amalgamated Social Benefits Association.”

“The board of the stockholder elected members to the board of the insurance company.”

“Form 990 was reviewed by an Officer or Administrator of the Fund.”

“The Conflict of Interest policy covers all of the organization's directors. The organization annually distributes a detailed questionnaire to each director. All answers are reviewed by the administrator and disclosed conflicts would be brought to the attention of the full board of directors.”

“The organization's governing documents, conflict of interest policy and annual financial statements are available upon request. Filings were done quarterly with the NAIC and the Illinois Department of Insurance until no longer required.”

“All officers and directors resigned upon dissolution of organization. None of the officers or directors were or will be compensated.”

“The organization ceased all business activity and voluntarily dissolved with guidance and approval from the Illinois Department of Insurance. The canceled Certificate of Authority and Articles of Incorporation and accompanying letter from the Illinois Department of Insurance are being submitted with this return.”

“The organization accrued expenses of $136,761 at end of prior year when the organization was working on a sale of the organization. The sale fell through and the organization went through voluntary dissolution instead. As such, a number of expenses that were accrued at the end of 2020 were not realized. Total amount of these accruals that were not realized is $121,423.”

“As part of the organization's dissolution, it's assets were liquidated and the remaining cash was distributed to the organizations sole stockholder. In addition, there was a Change in the Asset Valuation Reserve... Change in Asset Valuation Reserve......................... $ 5,500 Distribution of remaining cash to stockholder...... -2,254,281 Total $ -2,248,781”

“The Illinois Department of Insurance did not require an audit upon dissolution. The organization's financial statements will be reviewed as part of the stockholder's independent financial audit for the year.”