Northbrook Life Insurance v. Commonwealth

OPINION

Justice SAYLOR.

This direct appeal concerns the efforts of an insurance company to obtain a tax credit/offset against its premiums tax liability for assessments against annuity premiums paid to the Pennsylvania Life and Health Insurance Guaranty Association.

Under Article XVII of the Insurance Company Law of 1921, 1 to write annuities or life insurance in Pennsylvania, an insurance company must remain in good standing with the Pennsylvania Life and Health Insurance Guaranty Association (the “Guaranty Association”), see 40 P.S. § 991.1704(a), which provides a form of indemnity in favor of…