At the American Federation of Labor convention, Matthew Woll, President of the Photo Engravers, and George Perkins, President of the Cigar Makers, raise the issue of employers using group insurance as a means of alienating the affiliation of wage earners from their respective trade unions.
With the support of Samuel Gompers, Woll and Perkins form a committee to study the issue and the establishment of a labor-owned insurance company.
American Federation of Labor approves creation of a union-owned insurance company.
The Union Labor Life Insurance Company opens for business on May 1, 1927 in Washington, DC. The first group policy went to Federal Employees Local 105 of Washington, DC.
Retirement annuity contract introduced for union member retirement security.
Union Labor Life issues its first stockholder and policyholder dividends.
Group insurance introduced. Union Labor Life writes group accident, health, and hospitalization insurance.
Union Labor Life establishes company-paid-for insurance and pension plans for its own employees.
First regional office opens in Chicago, IL to service the Midwest region.
The Union Labor Life Insurance Company celebrates its 25th Anniversary.
The AFL and the CIO merge, offering great potential for unprecedented expansion and growth of Union Labor Life with a united labor front.
First West coast branch office opens in California.
Union Labor Life purchases and merges with the American Standard Life Insurance Company, founded by the International Brotherhood of Electrical Workers in 1924.
Group dental and prescriptions are first offered.
Group annuity actuarial and administration departments are established.
Group vision, extended care, and an extended plan of long-term disability are offered.
New Separate Account introduced that allows pension funds to make segregated stock investments.
Mortgage Separate Account J - J for Jobs: Commingled account introduced to invest in commercial mortgages and create union construction jobs.
Ulico Casualty Company created to proceed with new kinds of group benefits, including group auto, homeowners, and prepaid legal coverage.
Separate Account B, investing in high yield bonds, and Separate Account T, for short-term money market accounts, are introduced.
Guaranteed investment contracts are issued.
Fiduciary liability crisis: Ulico Casualty Company steps in to provide coverage to funds and trustees as other carriers abandon the market.
ULLICO Inc. formed: Holding company formed to serve as parent body for Union Labor Life, Ulico Casualty, and subsidiaries yet to come.
Zenith Administrators, Inc. formed: Third-party administrative services offered.
Trust Fund Advisors, Inc. created: TFA formed to offer individual portfolio management services to pension funds.
J for Jobs account exceeds $1 billion in value.
UlliCare® introduced as the Company's brand of insurance and managed care products and services.
J for Jobs exceeds $2 billion in asset value.
New Leadership of Chairman and CEO Terence M. O'Sullivan and President Edward Grebow charts a new course of stability and profitability for the Company.
J for Jobs posts the best new deposits month in its nearly 30-year history with $83.8 million.
Ullico returns to profitability and significantly strengthens its balance sheet.
ULLICO adopts voluntary compliance of the Sarbanes-Oxley Act of 2002 in an effort to bring sound corporate governance measures to its financial reporting.
ULLICO successfully completes the redemption of the Company's $50 Million Series A Convertible Preferred Stock.
Company becomes a registered broker/dealer with the NASD and the SEC.
Mark E. Singleton becomes President and Chief Executive Officer.
A.M. Best upgrades both Union Labor Life and Ullico Casualty to B+.
J for Jobs celebrates its 30th anniversary and exceeds $3 billion in value.
Ulico Casualty Group is renamed ULLICO Casualty Group.
ULLICO celebrates 80 years serving America's working families.
Edward M. Smith becomes President in May.
ULLICO Captive, PCC is established to offer alternative risk solutions through the Life and Health and Property and Casualty lines of business.
Edward J. McElroy is appointed Interim Chief Executive Officer on April 27, 2009.
The Ullico Casualty Company finishes the second quarter of 2009 with more than $100 million in gross written in force premium, a five-fold increase from four years prior.
Ullico completes branding initiative which includes a newly designed logo, website and marketing materials. This will enhance our position in the union marketplace and allow us to communicate more effectively the company’s value to our clients and potential clients.
The Surety and Fidelity Association of America lists our Property and Casualty operation among the top 40 largest sureties in the nation. SFAA Preliminary Top 100 list of Surety Writers for 2010.
In December, the Ullico Board appoints Edward M. Smith as the company’s new Chief Executive Officer. He assumes his new duties on January 3, 2011.
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Ullico Inc. traces its roots back to the 1920s, a time when work safety laws were not in place and many Americans worked in hazardous jobs. Railroads, construction sites, factories—all of these jobs presented too much risk for many companies’ underwriters. Life insurance was either priced out of reach of workers or insurance companies denied coverage because of the risks associated with their jobs.
In 1927, The Union Labor Life Insurance Company began operations as a union-owned insurance company. Its mission was to provide affordable life insurance for union workers and their families.
Over the years, Union Labor Life grew and diversified, offering health insurance, investment products for pension funds, and services for administering trust fund business. The Company began creating other subsidiaries, such as Ullico Casualty Company, to offer insurance to trustees of benefit plans. Soon, it was clear that Union Labor Life needed another entity for future growth and diversification.
In 1987, Ullico Inc. was created as a holding company for Union Labor Life and other Ullico subsidiaries yet to come.
