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 are pleased to 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. As of June 30, 2017, we had 2,764 policies in force, and our total premium (revenue including annuities) was $12,231,971.
As apart of our original intrastate offering, warrants for the purchase of additional shares were included. Over 918 shareholders exercised their warrants, raising an additional $7,901,088 which is being used to grow our company.
In addition, we had so many more Kansans indicate an interest in our company, so we 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. Through December 31, 2017, an additional 117,233 shares have been sold.
In January 2014, we assumed our first block of business and since that date those 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. This added 663 policies, $1,220,167 annual premium, and total assets of $6,590,361 to USAlliance. 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. Watch us grow. Help us grow. Be apart of our growth.
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
- President of Brier Development Co. Inc.
- Kansas Secretary of State, 1978-87
- President, Kansas Development Finance Authority, 1990-93
- Attended Shawnee Mission public schools
- Earned Business Administration degree from Washburn University
- Graduate studies in Public Administration at the University of Kansas
- Former Board Member, AmVestors Investment Group, Inc.; AmVestors Financial Corporation; and Columbian National Title Insurance Company
Donald J. Schepker – Vice Chairman; Director, USALSC
- Senior financial executive with more than 30 years of experience in a wide variety of financial disciplines
- Serves as a Trustee and Chairman of the board of Trustees of the Topeka Civic Theatre Endowment Trust
- Former president and executive director of the Stormont-Vail Foundation and senior vice president and CFO of Security Benefit Group
- During his time at Security Benefit Group, he grew the company’s assets to $10 billion, and increase of over 600%
- Former Partner in the Accounting and Auditing Services division of Deloitte & Touche, LLP
- Member of the American Institute of Certified Public Accountants
- 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
- Former Group Life Actuary of Fortis Benefits Insurance Company
- Former Senior Vice President and Actuary of Amerus Annuity Group
- Vice President of Finance and Business Intelligence
- Former Senior Vice President of Aviva USA
- Former partner in the Accounting and Auditing Services division of Deloitte & Touche, LLP
- Member of the Financial Executives International group and American Institute of Certified Public Accountants
- Holds Bachelor of Science degree in Commerce with a major in Accounting from Saint Louis University
Rochelle Chronister – Director, USAC & USALSC
- Secretary, Kansas Department of Social and Rehabilitation Services (SRS), 1995-99. In 1995, SRS had a $1.6 billion annual total budget and 11,000 employees
- Responsible for the formation of a public-private partnership for reorganization of child protective services, making Kansas the first in the country to contract for services to children-in-need of care for family preservation, adoption and foster care. Based on this reorganization of services, Kansas received the first U.S. award from the Child Welfare League of America for Child Protective Services
- Joined four other Cabinet Secretaries to form Connect Kansas, an organization to encourage community coordination for services to children
- Served in the Kansas House of Representatives, 1979-95, including chairing the House Appropriations Committee, House Education Committee, and Joint House and Senate Committee for Economic Development
- Earned a B.A. degree in Microbiology from the University of Kansas
James Concannon – Director, USAC & USALSC
- Dean, Washburn University School of Law, 1988-2001
- Professor of Law at Washburn, holding the title of Distinguished Professor of Law since 2006
- 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 U.S. Supreme Court
- Research Attorney for the Kansas Supreme Court
- Trustee of Waddell & Reed Advisors Mutual Funds
- Trustee of Ivy Funds Variable Insurance portfolios
- Visiting Professor at Washington University School of Law, St. Louis
- Senior Contributing Editor, Evidence in America: The Federal Rules in the States
- Serves on the National Conference of Commissioners on Uniform State Laws
William Graves – Director, USAC & USALSC
- Recently served as President and CEO of American Trucking Associations, the national trade and safety organization of the United States trucking industry. Under his leadership, ATA advanced several safety initiatives
- Governor of Kansas, 1995 – 2003. As governor, Graves 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
- Involved in the trucking industry his entire life. For almost 70 years, members of his family have operated fleets including Graves Truck Line
- Serves on the Board of the International Speedway Corp., the leading promoter of motorsport racing in America
- Earned a degree in Business Administration from Kansas Wesleyan University in his hometown of Salina and attended graduate school at the University of Kansas
Kurt Scott – Director; Treasurer, USAC & USALSC
- Chief Operating Officer, Kansas Medical Mutual Insurance Company, 1998-present
- Chief Financial Officer, Kansas Medical Mutual Insurance Company, 1989-98
- Served as an integral part of Kansas Medical Mutual Insurance Company’s growth since its inception. The company now has $179 million in assets, policyholders surplus of $63.7 million and annual premiums of $38 million
- Chair of CEO/COO Section of Physicians Insurance Association, 2007-09
- Chief Examiner, Kansas Department of Insurance, 1983-89
- Board Member, Kansas Chamber of Commerce and Industry, 2004-08
- Earned B.S. degree in Business Administration with a major in Accounting from Kansas State University
Bob Boaldin – Former Board Member, 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 and we appreciate his many contributions to our growth and development.