Latest Life Insurance Headlines
All the headlines from our Life Insurance Topic Page, ordered by recency.
China’s Largest Bank to Sell AIG Life Insurance Products at Branches
Sep 10 2010 // Industrial and Commercial Bank of China Ltd (ICBC) and soon-to-be listed AIA Group Ltd have signed an agreement under which ICBC will sell AIA’s life insurance products at its branches, the two companies said on...
South Carolina Forms Insurance Funding Program
Sep 3 2010 // South Carolina Insurance Director Scott Richardson, will introduce the new South Carolina Insurance Funding Program (SCIF) during the annual South Carolina Captive Insurance Association Conference, Sept. 13-15 in...
Manulife, Ace among Bidders for NY Life Asia – Sources
Aug 27 2010 // Canadian insurer Manulife Financial Corp and Switzerland’s Ace Ltd are among bidders for New York Life Insurance Co’s Hong Kong, Taiwan and South Korean assets, sources said, in a deal valued between $800...
AIG Posts Q2 Loss; Chartis Insurance Stable Despite Flood, Oil Spill Claims
Aug 6 2010 // American International Group Inc. reported a $2.7 billion quarterly loss compared to a net profit of $1.8 billion for the same quarter a year earlier. The second quarter 2010 loss was primarily due to a $3.3 billion...
European Life Insurers Hope Accounting Change Will Woo Investors
Aug 4 2010 // British life insurers reporting half-year results this month plan to simplify their notoriously complex financial statements in a move that could lift their flagging shares. Standard Life, Britain’s fourth-biggest...
Illinois Insurance Agency, Agents Face Steep Fines; Licenses Revoked
Jul 30 2010 // The Illinois Department of Insurance revoked the insurance producer licenses of a Lake Bluff-based insurance agency and three insurance agents, including two from Antioch and one from Chicago, for the improper marketing...
MetLife, Pru Facing Probe Over Soldiers’ Death Benefits
Jul 30 2010 // New York’s attorney general has subpoenaed MetLife Inc. and Prudential Financial Inc. as part of a probe into whether life insurers are defrauding families of deceased military personnel by siphoning off millions of...
Court Dismisses Lawsuit Challenging Calif. Commissioner’s Actions
Jul 27 2010 // California Insurance Commissioner Steve Poizner is considering a recent court decision a victory for consumers, as a lawsuit that attempted to stop the Commissioner from protecting Californians in connection with the...
P/C Trade Groups Join GNAIE in Opposing Unitary Accounting Standard
Jun 4 2010 // The Group of North American Insurance Enterprises (GNAIE), an association representing the Chief Financial Officers of major life insurance companies in Bermuda, Canada, and the United States, has joined with four other...
AIG Posts $1.5B Net Income in Q1; Chartis Sees 1.1% Drop in Premiums
May 7 2010 // American International Group Inc. turned a quarterly profit after a year-ago loss as the bailed-out insurer got a boost from its investments and general insurance operations appeared to stabilize. Chartis, the general...
Tower Australia Eyes AIA Insurance
Apr 8 2010 // Tower Australia Ltd will be interested in buying the “well-run” Australian business of AIA if it comes up for sale, as it moves into the fast-growing group insurance sector, Tower’s chief executive said...
Zurich Considering New China Life Fundraising; Future P/C Growth
Mar 16 2010 // Zurich Financial Services is actively talking with sovereign wealth fund China Investment Corp and major steelmaker Baosteel on fundraising plans for their venture New China Life Insurance, a Zurich Financial executive...
Fitch Holds Conference on China’s Life, Non-Life Insurance Sectors
Mar 11 2010 // Fitch Ratings hosted a teleconference today, March 11 on the performance of China’s life and non-life insurance sectors. A replay of the conference is expected to be posted soon on the rating agency’s web site...
AIG Sells Alico Unit to MetLife for $15.5 Billion
Mar 8 2010 // AIG is selling its foreign life insurance unit to MetLife Inc. for about $15.5 billion, its second major asset sale in a week as it raises funds to repay a massive U.S. government bailout. MetLife said Monday that it would...
AIG Still Working Out $15 Billion Sale of Alico to MetLife
Mar 5 2010 // A tax question holding up American International Group Inc.’s sale of its foreign life insurance unit to MetLife Inc. is expected to be resolved favorably, clearing the way for a roughly $15 billion deal, sources...
U.S. May Follow Citigroup Exit Strategy for AIG
Mar 2 2010 // As American International Group Inc. prepares to shed two big units, it looks set to follow the same path as Citigroup Inc. out from under the U.S. government’s wing. The government is likely to follow an exit...
Golden State Mutual Policies To Be Transferred to IA American Life Insurance
Feb 26 2010 // To protect policyholders, Golden State Mutual Life Insurance Co. has entered into a letter of intent with IA American Life Insurance Co. to negotiate a reinsurance agreement to transfer all in-force insurance policies of...
Why AIG Omitted JP Morgan from Underwriters for Life Insurer IPO
Feb 12 2010 // American International Group Inc. turned down JPMorgan’s attempts to get in on the estimated $10 billion Hong Kong IPO of its Asian life insurance unit, sources involved with the deal said on Friday, in a snub partly...
MetLife May Pay AIG in Stock, Cash for Life Insurance Unit
Feb 10 2010 // MetLife Inc. plans to pay American International Group Inc. in stock and cash for American Life Insurance Co. (Alico), as the two sides negotiate what could be a roughly $15 billion deal, a source familiar with the matter...
MetLife Eyes $14 Billion Deal for AIG’s Alico Life Insurance Unit
Jan 20 2010 // MetLife Inc. is in talks to buy AIG’s American Life Insurance Co (Alico) unit in a deal that could be valued between $14 billion and $15 billion, a source familiar with the matter said Tuesday. Nothing has been...
