BIRMINGHAM, AL
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)ALABAMA LIFE & DISABILITY INSURANCE GUARANTY ASSOCIATION, founded in 1982, is a community nonprofit that reported $6.1M in total revenue in fiscal year 2023. Revenue surged 1571% from the prior year, signaling strong growth momentum. Expenses of $5.8M left a modest 5% surplus.
PROVIDING PAYMENTS TO OR ON BEHALF OF POLICYHOLDERS OF INSOLVENT INSURANCE COMPANIES & PROVIDING CONTINUED COVERAGE FOR POLICYHOLDERS BY NEGOTIATING REINSURANCE AGREEMENTS OR PROVIDING ADMINISTRATIVE SERVICES.
THE ALABAMA INSURANCY GUARANTY ACT MANDATED THE CREATION OF THE ALABAMA LIFE AND DISABILITY INSURANCE GUARANTY ASSOCIATION TO SERVE AS AN AGENT OF THE STATE OF ALABAMA.THE PURPOSE OF THE ASSOCIATION...
THE ALABAMA INSURANCY GUARANTY ACT MANDATED THE CREATION OF THE ALABAMA LIFE AND DISABILITY INSURANCE GUARANTY ASSOCIATION TO SERVE AS AN AGENT OF THE STATE OF ALABAMA.THE PURPOSE OF THE ASSOCIATION IS TO PROVIDE A MECHANISM FOR THE PAYMENT OF COVERED CLAIMS UNDER CERTAIN INSURANCE POLICIES, TO AVOID EXCESSIVE DELAY IN PAYMENT AND TO AVOID FINANCIAL LOSS TO CLAIMANTS OF POLICYHOLDERS BECAUSE OF THE INSOLVENCY OF AN INSURER, TO ASSIST IN THE DETECTION AND PREVENTION OF INSURER INSOLVENCIES, AND TO PROVIDE AN ASSOCIATION TO ASSESS THE COST OF SUCH PROTECTION AMONG INSURERS. THE ASSOCIATION HAS ACTED IN THIS CAPACITY SINCE ITS INCEPTION.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $6,101,619 | $365,091 | +15.7% |
| Expenses | $5,805,962 | $1,983,466 | +1.9% |
| Net Income | $295,657 | $-1,618,375 | -1.2% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| PROTECTIVE LIFE MARY PAT LAWRENCE | CHAIR (9 MO)/ VICE CHAIR (3 MO) | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| ALFA LIFE INS SID BELCHER | VICE CHAIR (9 MO)/ CHAIR (3 MO) | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| LIFE INS CO OF AL CLARENCE DAUGETTE | SECRETARY/TREASURER | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| LIBERTY NATL LIFE JENNIFER WATKINS | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| AMERICAN GEN LIFE INS TOM GLASSON | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| UNTD HLTH CARE LIFE SHERRY GILLESPI | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| METROPOLITAN LIFE BERNADETTE FLYNN | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| DOTTY STILL | EXECUTIVE DIRECTOR | 40.00 |
Officer
|
$165,250 | $18,582 | $183,832 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $6,101,619 | $5,805,962 | $20,082,683 | $295,657 |
| 2022 | $365,091 | $1,983,466 | $20,564,479 | $-1,618,375 |
| 2021 | $948,305 | $2,327,528 | $22,083,517 | $-1,379,223 |
| 2020 | $524,583 | $2,022,404 | $24,585,899 | $-1,497,821 |
| 2019 | $1,067,253 | $2,016,771 | $27,247,487 | $-949,518 |
| 2018 | $1,125,920 | $2,010,215 | $29,284,364 | $-884,295 |
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