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ICBA Reinsurance Expands Insurance Choices

Agreement Offers In-Bank Training; New Options for Banks

Washington, D.C. (July 19, 2007)—ICBA Reinsurance, a subsidiary of the Independent Community Bankers of America (ICBA), announced an agreement with Guarantee Trust Life Insurance Company (GTL), Glenview, Ill., to offer a full slate of insurance products to ICBA member community banks in Indiana, Illinois and Pennsylvania.

"ICBA Reinsurance's agreement adding GTL gives community bankers more options for competitively priced, quality credit insurance products," said Steve Ello, ICBA Reinsurance president. "This agreement will strengthen ICBA Reinsurance and broaden its reach while providing a new alternative to ICBA member banks. ICBA Reinsurance is delighted to announce this agreement. GTL credit insurance will allow ICBA member community banks to help their customers build a solid wall of financial protection against unforeseen circumstances."

Products offered include:

  • Single-premium credit life and disability,
  • Closed-end monthly outstanding balance programs,
  • Revolving credit life and disability monthly outstanding balance,
  • Level life, and
  • Age-banded credit life.

"Community banks have long understood the value and benefit of offering credit insurance protection for their customers" said Reed Gass, vice president of GTL Credit Insurance Division. "Together, ICBA and GTL can help community banks provide more value to their customers while remaining competitive in the marketplace by providing them new income opportunities. We are very pleased to have been selected by the ICBA Reinsurance Board of Directors and look forward to a long relationship."

About Guarantee Trust Life Insurance Company
Guarantee Trust Life Insurance Company (GTL) is a mutual life insurance company, headquartered in suburban Chicago. Formed in 1936, GTL has long been recognized as a provider of innovative life and health products. GTL has continuously provided credit insurance programs to the banking community for over 40 years. For more information, please visit www.gtlic.com.