Pekin Life Insurance Company, a multi-line company based in Pekin, held its annual meeting this month, announcing financial figures along with new directors.
Premium income increased for Pekin Life 3.1 percent to $222.5 million, while life insurance in force was in excess of $17.1 billion during 2016. In the end, the company reported a net loss of $1 million.
Shareholders at the meeting elected Steven R. Anderson of Loves Park, Byron A. Dodd of Anna and Brian Lee of Pekin to the board of directors with three-year terms. The three will serve until May 2020. Craig Concklin of Hinsdale; Daniel Connell of Tremont; Scott Martin of Peoria; and Thomas Hornstein, A. Richard Kriegsman and Christine Schwartz of Pekin will continue their terms on the shareholder-elected board.
The company offers individual, term, whole and universal life insurance as well as medicare supplement, annuity, credit insurance, debt protection and pre-need coverages. Additionally, the company offers employer-based, self-funded health plan administration through its third-party claims administration division, Group Plan Solutions.
Pekin Life Insurance has been in business in the area since 1921, when it was founded by a group of locals who wanted to bring auto insurance to Pekin. The first offices were located in the Tazewell County Courthouse, with the space being donated by the County Board of Supervisors.