The Rev. Andrew P. Jacobs v. Kenneth Deshetler, Superintendent of Insurance of the State of Ohio

Plaintiffs are members and policyholders of American Life Insurance Association (ALIA), a Connecticut fraternal benefit society, who challenge an agreement entered into by ALIA with Investment Life Insurance Company of America (ILICA), an Ohio stock life insurance company, which by its terms would ultimately result in a merger of ALIA into ILICA.

In 1962 ALIA and ILICA entered into what was labeled a “Reinsurance Agreement.” Under the terms of the agreement the parties agreed inter alia that all of the assets of ALIA would be turned over to ILICA to be maintained in a fund known as the…