History
Maxicare Life and Health Insurance Company (MLH) was previously known as Armour Life Insurance Company which had been incorporated on October 19, 1979. The company commenced business as a stock life and health insurer under the insurance laws of Chapter 376 RSMo (Life, Health and Accident Insurance) as an affiliate of Kansas City Life Insurance Company. On November 26, 1985, the company was sold and then was renamed as Maxicare Life and Health Insurance Company, and its corporate offices were moved to St. Ann, MO. On January 28, 2002, the Circuit Court of Cole County entered a Judgment placing Maxicare Life and Health Insurance Company (MLH) into rehabilitation. While in rehabilitation, the Special Deputy Rehabilitator received claims on policies and proceeded to make payments on such claims that were determined to be proper. On April 12, 2004, a motion was filed with the court to modify the rehabilitation and to permit a transaction wherein Caterpillar Inc. was to acquire MLH stock and licenses only. The court issued an order on April 29, 2004 approving the acquisition. The Missouri Department of Insurance then held a public hearing on April 29, 2004 and approved the acquisition effective May 1, 2004. The court order removed all liabilities from MLH leaving a clean "shell" consisting of the corporate entity, its insurance licenses and statutory deposits. After the sale was completed, the company's Articles of Incorporation were amended and the name of Maxicare Life and Health Insurance Company was changed to Caterpillar Life Insurance Company. The court order further approved the creation of a liquidating trust named the Maxicare Life and Health Insurance Company Liquidating Trust wherein it would retain all liabilities of the company known as Maxicare Life and Health Insurance Company as well as any assets that were currently existing or were to be received in the future. All of the licenses or certificates of authority to do life and health insurance business in the 33 states and the District of Columbia in which MLH had previously held such licenses were all transferred to Caterpillar Life Insurance Company. Caterpillar Life Insurance Company and Caterpillar Inc., under the stock purchase agreement, have no liability whatsoever as to any remaining claims against MLH.