Change Healthcare Cyber Incident Impacts Claims Payments Change Healthcare has not been able to print and mail claim checks to Union Labor Life’s claimants since the incident occurred. Read the Notice

All Press Releases

Ullico Inc. Announces Fourth-Quarter 2023 and Year-End Financial and Business Highlights

March 22, 2024

Ullico Inc., the only labor-owned insurance and investment company, shared select financial and business results for its fiscal 2023 fourth quarter ended December 31, 2023 and select year-end results.

“The company had another outstanding quarter and year. Despite the uncertainty around inflation, interest rates, and other economic challenges, we see ample opportunities to innovate and grow,” said Darin Hardy, Chief Financial Officer for Ullico Inc.

“Our focus on union members and their families is the key to our success. Our fourth-quarter performance is a demonstration of our ability to deliver on our commitment to the labor movement,” said Brian Hale, CEO and President of Ullico Inc.

Investment Services

• The company’s investment services business closed Q4 2023 with $10.6 billion in assets under management.

• The “Ullico Value-Add Real Estate Fund,” an investment vehicle managed by the company’s Real Estate Equity Group, received its first capital commitments from investors.

Life & Health

• Union Labor Life ended 2023 with $26.6 million in new medical stop loss insurance sales and a 93% retention rate.

• Union Labor Life ended 2023 with $3.4 million in new group life insurance sales and a 99% retention rate.

• Union Labor Life is A rated by AM Best with an RBC ratio of over 800%.

Property & Casualty

• Ullico Casualty Group experienced Q4 2023 professional liability policyholder retention rates of 98%, demonstrating strong policyholder satisfaction.

• Ullico Casualty Group had incurred losses of $5.8 million for all lines of professional liability claims during Q4 2023.

• Ullico Casualty Group continued to roll out a new carrier relationship for its commercial lines products for labor related entities with Great American Insurance Company.

About Ullico

The Ullico Inc. family of companies provides insurance and investment solutions for labor organizations, union employers, institutional investors and union members. Founded over 95 years ago, the company takes a proactive approach to anticipating labor’s needs, developing innovative financial and risk solutions and delivering value to our clients. Our products are tailored to promote financial security and stability for American workers.

The Ullico Inc. family of companies includes The Union Labor Life Insurance Company; Ullico Casualty Group, LLC.; Ullico Investment Company, LLC.; and Ullico Investment Advisors, Inc. For additional information, visit

UIF (or the “Fund”) is managed by Ullico Investment Advisors, Inc. (“UIA”) and is sold through Ullico Investment Company, LLC (Member FINRA/SIPC), both subsidiaries of Ullico Inc. UIA is a registered investment adviser with the SEC under the Investment Advisers Act of 1940, as amended. UIF will only be sold to “accredited investors” as that term is defined in Regulation D of the Securities Act of 1933. Investment in infrastructure is speculative, not suitable for all investors, and should be undertaken only by experienced and sophisticated investors who are willing to bear the high risks of such an investment, which include, but are not limited to, lack of liquidity, restrictions on transferring ownership to the Fund, absence of information regarding valuation and pricing, and high fees and expenses. Potential investors in the Fund should carefully read the Confidential Private Placement Memorandum for a description of the potential risks associated with investment in the Fund.