Matt Lile Surrenders Insurance License After Financial Meltdown of Cosmopolitan Life

by Arkansas Business Staff  on Monday, Oct. 19, 2009 12:00 am  

Surrender

We told you last week that Cosmopolitan Life Insurance Co. was under regulatory receivership and Advance Insurance Group of America had closed.

Mixed in with those financial travails, the former president of both Little Rock companies agreed to banishment from the insurance business.

J. Matt Lile voluntarily surrendered his individual and agency insurance licenses on Aug. 12.

Lile also "agreed not to seek licensure in any other state and not to sell solicit or negotiate insurance products or services to consumers in Arkansas or any other state" as part of a Sept. 14 consent order with the Arkansas Insurance Department.

What's Lile, an avowed wine enthusiast and owner of Lulav restaurant in downtown Little Rock, up to these days?

We understand that he's considering opening a couple more restaurants and expanding his real estate investments.

 

 

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