In 2008, a number of Kansas community and business leaders teamed with former Kansas Secretary of State Jack H. Brier to build a Kansas-owned and Kansas-based life insurance company. In April of 2009, USAlliance Corporation began the journey, with two private placements to raise $990,000 in capital. In just 62 days our goal was met, and preparations began for a public offering. Between July of 2009 and February 2010, all 105 Kansas counties were surveyed, reaching out to business and community leaders throughout the state. From the thousands of interviews we conducted, 96 Kansans became Advisory Board Members of USAlliance Corporation. These Advisory Board Members became an integral part of our business plan, and today we have 78 advisory board members.
In March of 2010, the intrastate public offering began. By December of 2011, we had raised $6,595,000, and began our application for our life insurance charter from the Kansas Insurance Department. On January 2, 2012, USAlliance – Life and Security Company, a wholly owned subsidiary of USAlliance Corporation, was granted its life insurance charter.
Throughout 2012, the focus was the sale of stock, with the goal of raising $10,000,000. Once we reached this milestone, however, we realized how many Kansans we hadn’t seen and who were interested in becoming shareholders. So our efforts continued through February 24, 2013, when we reached a total capital raised in the public offering of $12,662,000, and we proudly had 1799 shareholders.
On May 1, 2013, we sold our first insurance policy. We now have 2,764 policies in force, and our total premium (revenue including annuities) is $12,231,971 through June 30, 2017.
During 2015 and the first quarter of 2016, our focus was in the exercising of the warrants issued during the public offering. Over 918 shareholders exercised their warrants, raising an additional $7,901,088 which will be used to help our company grow.
In addition, we have had so many more Kansans indicate an interest in our company, so we have registered an offering of 1,500,000 shares at $7.00 per share with the Kansas Securities Commissioner. You can receive information on the availability of stock by calling or texting Rowdy Meyer at (785) 806-1002, or by email at Jack.Brier@usalliancelife.com. We welcome you to join thousands of other Kansans who proudly own stock in USAC.
In January 2014, we assumed our first block of business and since that date premiums have totaled $9,191,434. On August 1, 2017, we made our first acquisition of a life insurance company, Dakota Capital Life Insurance Company. They have 663 policies, $1,220,167 annual premium, and total assets of $6,590,361. We are so excited their 1503 shareholders are now shareholders in USAlliance Corporation.
We are humbled and so grateful for this huge outpouring of financial support as we continue to build a strong Kansas company.
The journey continues!
Now about our products!
|1. Solid Solutions Term||May 2013|
|2. Pioneer 20-Pay Whole Life||May 2013|
|3. Legacy Juvenile Term||May 2013|
|4. Thoughtful Pre-Need – Single Pay||May 2013|
|5. Thoughtful Pre-Need – Multi Pay||May 2013|
|6. Pioneer 10-Pay Whole Life||July 2013|
|7. American Annuity||September 2013|
|8. Thoughtful Pre-Need – Cremation||January 2014|
|9. Sound Solutions Term||July 2014|
|10. Group Life||March 2015|
|11. Group Short Term Disability||March 2015|
|12. Group Long Term Disability||March 2015|
|13. KFDA Trust Annuity||May 2015|
|14. Firehouse Series||August 2016|
|15. Critical Illness||December 2016|
Today, with these milestones reached, our focus is on meeting the Life Insurance needs of our Kansas customers and providing impeccable service.
Each member of the Company’s Board of Directors is elected to serve a one-year term. A director continues to hold office until a successor is elected and qualified. Current Directors of USAC are Jack Brier, Rochelle Chronister, James Concannon and Kurt Scott, who have each served since the formation of the company in April 2009, and William Graves, who joined the Board of Directors in 2014.
Jack H. Brier – Chairman of the Board of Directors; President; Chief Executive Officer; Founder, USAC & USALSC
Jack served Kansas as Secretary of State from 1978-1987 and as President of the Kansas Development Finance Authority from 2000-2003. He attended Shawnee Mission public schools and holds a degree in Business Administration from Washburn University. He has also done graduate study in Public Administration at the University of Kansas. Mr. Brier is on the Board of Directors of Financial Institution Technologies, and he has served on the Board of Directors of AmVestors Investment Group, Inc., AmVestors Financial Corporation and Columbian National Title Insurance Company. Mr. Brier also has extensive community relations experience through his involvement in civic, business, and philanthropic organizations in the Topeka area.
Donald J. Schepker – Vice Chairman; Director, USALSC
Donald Schepker is a senior financial executive with more than 30 years of experience in a wide variety of financial disciplines. Mr. Schepker currently serves as Vice President and a Trustee of the Topeka Civic Theatre Endowment Trust. He previously served as president and executive director of the Stormont-Vail Foundation and as senior vice president and CFO of Security Benefit Group, both headquartered in Topeka, Kansas. During his time at Security Benefit Group, an international life and financial services company, Mr. Schepker grew the company’s assets to $10 billion, an increase of over 600%. He is a former partner in the Accounting and Auditing Services division of Deloitte & Touche, LLP, and a member of the Financial Executives International group and the American Institute of Certified Public Accountants. Mr. Schepker holds a Bachelor of Science degree in Commerce with a major in Accounting from Saint Louis University.
Jeff Brown – Executive Vice President; Chief Operating Officer, USALSC
Jeff Brown has over 15 years of actuarial experience. He previously served as Senior Vice President and actuary of Amerus Annuity Group, as Vice President of Aviva USA in finance transformation and business intelligence and is a former group life actuary of Fortis Benefits Insurance Company. He is a fellow of the Society of Actuaries and a member of the American Academy of Actuaries. Jeff holds a Bachelor of Arts degree in Mathematics (Actuarial Science Specialization) with a minor in Business from Washburn University. He is a past member of the Cair Paravel Latin School Board of Directors.
Rochelle Chronister – Director, USAC & USALSC
Rochelle Chronister served in the Kansas House of Representatives from 1979-1995, where she was Chair of the House Appropriations Committee, the House Education Committee and the Joint House and Senate Committee for Economic Development. From 1995-1999, Ms. Chronister served as the Secretary of the Kansas Department of Social and Rehabilitation Services, where she was responsible for the reorganization that made Kansas the first state to contract for services to children in need of family preservation, adoption and foster care. Ms. Chronister also worked with other Cabinet Secretaries to form Connect Kansas, which encourages community coordination for services to children. She received her Bachelor of Arts in Microbiology from the University of Kansas in 1961, where she was a member of the Mortar Board honorary society and President of Sellands Scholarship Hall. Ms. Chronister provides the Company with a wealth of knowledge and expertise in economic development as well as extensive community relations experience through her involvement in civic and community organizations in Kansas.
James Concannon – Director, USAC & USALSC
Professor James Concannon served as Dean of Washburn University School of Law from 1988-2001. Since he stepped down as Dean, Jim has continued to serve as a Professor of Law at Washburn and has held the title of Distinguished Professor of Law since 2006. He is licensed to practice in state courts in Kansas, the U.S. District Court for Kansas, the U.S. Court of Appeals for the Tenth Circuit and the Supreme Court of the United States. Mr. Concannon served as Research Attorney for the Kansas Supreme Court and was a Visiting Professor at Washington University School of Law in St. Louis. He was a Senior Contributing Editor to Evidence in America: The Federal Rules in the States and serves on the National Conference of Commissioners on Uniform State Laws. Mr. Concannon received his Bachelor of Science from the University of Kansas in 1968 and his Juris Doctorate from the University of Kansas School of Law in 1971. He currently serves as an Independent Trustee of the Waddell & Reed Advisors Funds, Ivy Funds, the Ivy Funds Variable Insurance Portfolios, and the Ivy InvestEd 529 Funds. Professor Concannon’s board experience as well as his extensive legal background ideally suit him to serve on our Boards.
William Graves – Director, USAC & USALSC
Bill Graves served as President and CEO of American Trucking Associations, the national trade and safety organization of the United States trucking industry, from 2003 through 2016. Through its 50 affiliated state trucking associations, conferences and other organizations, it represents an industry that delivers nearly 70% of the nation’s freight before all branches and levels of government. Under his leadership, ATA advanced several safety initiatives. Mr. Graves serves on the board of the International Speedway Corp., the leading promoter of motorsport racing in America, where he serves on the audit, compensation, nominating, and corporate governance committees. In January 2003, Mr. Graves completed his second term as governor of Kansas, capping 22 years of service to the state. As governor, he signed into law an historic 10-year, $13 billion comprehensive transportation program improving highways, railroad infrastructure, airports and public transit service in Kansas, financed by higher user fees. Mr. Graves earned a degree in Business Administration from Kansas Wesleyan University in his hometown of Salina and attended graduate school at the University of Kansas. Mr. Graves brings us valuable business, strategic and operational expertise through his years of public sector leadership and private sector experience.
Kurt Scott – Director; Treasurer, USAC & USALSC
From 1989 to the present, Kurt Scott has been an officer of Kansas Medical Mutual Insurance Company, first serving as Chief Financial Officer and since 2011 as Chief Executive Officer. He has been an integral part of that company’s growth from its inception to its current status as a company with $174 million in assets, policyholders’ surplus of $99 million and annual premiums of $27.5 million. He currently serves on the Board of Directors of the Physicians Insurance Association of America. From 1983 to 1989, Mr. Scott served as Chief Examiner with the Kansas Department of Insurance, and he sat on the Board of Directors of Kansas Chamber of Commerce and Industry from 2004-2008. He received a Bachelor of Science degree in Business Administration with a major in Accounting from Kansas State University in 1983. Mr. Scott’s extensive insurance regulatory experience, financial experience and insurance experience are valuable for our Company.
Bob Boaldin – Director Emeritus, USAC & USALSC
It is with great sadness we report the passing on December 29, 2016, of founding director Bob Boaldin. Bob was with us since the company was formed. Ill health no longer permitted Bob to serve as a director, but we appreciate his many contributions to our growth and development. Bob Boaldin served as President of Epic Touch, a Kansas-based provider of telecommunications, voice, video, data and Internet services to rural areas of southwest Kansas and Oklahoma. With 52 years of experience in the telecommunications management and construction industries, Mr. Boaldin had long been a state and national leader in the promotion of telephone and cable television service to America’s rural communities. His activities took him everywhere from remote rural areas of America to the halls of Congress in Washington and the offices of the Federal Communications Commission and the National Security Telecommunications Advisory Committee. As a Morton County Commissioner for over 24 years, Mr. Boaldin was deeply involved in his local community.