Latest Life Insurance Headlines
All the headlines from our Life Insurance Topic Page, ordered by recency.
Ohio-based The Midland Acquires Southern Pioneer Life Insurance
May 2 2006 // The Midland Company based in Ohio, announced that its wholly owned subsidiary, American Modern Insurance Group, reached an agreement to acquire all of the outstanding stock of Southern Pioneer Life Insurance...
Insurers Welcome IRS ‘Gross Receipts’ Tax Code Clarification
Apr 25 2006 // Insurers are applauding a recent IRS/Treasury Department tax code ruling that settles the definition of “gross receipts” for property casualty insurers. The National Association of Mutual Insurance Companies...
Daniel G. Walseth Joins Conseco as Executive Vice President
Apr 21 2006 // Conseco, Inc., based in Carmel, Ind., announced that Daniel G. Walseth has been named executive vice president, general counsel and secretary of the company. “I am excited that Dan is joining our leadership...
Ind. Pastor Mom Charged with Stealing Soldier’s Life Insurance Money
Apr 21 2006 // A pastor whose soldier son died in Iraq was charged with spending $250,000 in insurance money meant for the soldier’s young daughter. Prosecutors said Janie Lee Espinoza spent all the cash on cars, jewelry, a Florida...
Former Calif. life insurance agent convicted for faulty notes
Apr 17 2006 // Fraud Roundup California Insurance Commissioner John Garamendi announced the conviction of former life insurance agent Bassem Btadini, 51, also known as Bob Btadini. Btadini entered a no contest plea and was convicted of...
Fitch Finds Life Insurers/Reinsurers Most at Risk from Bird-Flu Pandemic
Mar 28 2006 // Fitch Ratings has issued a report, “Bird-Flu – Will It Ruffle The Industry’s Feathers?” which indicates that “life insurers and their reinsurers would be most likely to be the hardest hit by a...
Torchmark Corp. Moving Headquarters to Texas
Mar 23 2006 // Torchmark Corporation announced it is moving its corporate headquarters to McKinney, Texas, from Birmingham, Ala. McKinney, a north Dallas suburb, has been the home of one of Torchmark’s subsidiaries, United American...
Fort Dearborn Life to Acquire Highmark Life Insurance Company
Mar 20 2006 // Chicago-based Fort Dearborn Life Insurance Company, a subsidiary of Health Care Service Corporation., a Mutual Legal Reserve Company, has announced its intent to acquire the life and disability business of Highmark Life...
Genworth Financial Focusing on Hispanics in South Texas
Mar 6 2006 // Genworth Financial Inc. announced it is launching a comprehensive campaign for the Hispanic communities in Corpus Christi and Rio Grande Valley designed to increase awareness about the importance of having a financial...
Allianz Opens New Office in Shenzhen
Mar 2 2006 // Germany’s Allianz announced on its Web site (www.allianz.com) that it has launched its first joint life and non-life insurance Sales Center in Shenzhen, China. “The Center maximizes the synergies between...
Mich. Requires Life Insurers Make Amends for Race-based Underwriting
Feb 28 2006 // The Michigan Office of Financial and Insurance Services issued a statement this week saying that a consent order requiring the Western and Southern Life Insurance Company was issued requiring the companies make amends for...
Hurricanes Drive 39% Decline in Net Income for Giant State Farm
Feb 26 2006 // Hurricane losses and loss adjustment expenses totaling $6.3 billion (after reinsurance) contributed to a reduction in State Farm’s 2005 net income. The company is reporting an after-tax net income from all sources of...
American National Declares Dividend
Feb 24 2006 // American National Insurance Company, headquartered in Galveston, Texas, announced that its Board of Directors declared a quarterly dividend of 75 cents per share on its common stock payable March 17, 2006, to shareholders...
Former Calif. Life Insurance Agent Convicted for Faulty Notes
Feb 23 2006 // California Insurance Commissioner John Garamendi has announced the conviction of former life insurance agent Bassem Btadini, 51, also known as Bob Btadini. Btadini entered a no contest plea and was convicted of five...
Delgado Appointed to Calif. Alliance of Insurance Agents and Brokers Board
Feb 15 2006 // Carlos Delgado, CLU (Danmar Insurance Services, Riverside), has agreed to serve on the Alliance of Insurance Agents and Brokers’ board of directors. Delgado, a 35-year industry veteran, began his insurance career in...
Aon’s Agency Specialty Product Network Forms LifeSource Alliance
Feb 14 2006 // Agency Specialty Product Network has joined with LifeSource – a BISYS Company to provide independent property and casualty agents and brokers a “virtual” life insurance department to enhance sales,...
Best Affirms Aioi ‘A’ Rating
Feb 1 2006 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) and assigned an “a” issuer credit rating to Japan’s Aioi Insurance Company Ltd. with a stable...
AIG Names Martin Chief Operating Officer of Worldwide Life Business
Jan 29 2006 // American International Group, Inc. has named Rodney O. Martin, Jr. as chief operating officer of its worldwide life insurance business. Martin will remain chairman, president and chief executive officer of AIG American...
RMS: 500,000 Japanese Dead Possible in Avian Flu Pandemic Outbreak
Jan 26 2006 // Risk Management Solutions Inc. (RMS) released the findings of an in-depth study that provides life and personal accident insurers in Japan with key benchmarks for the potential risk of human casualties from catastrophic...
NAIC Praises Life Insurers Group in Backing More Consumer Protections
Jan 25 2006 // The National Association of Insurance Commissioners commended the American Council of Life Insurers this week for agreeing to support a measure to extend consumer protections in the sale of life insurance and annuities. At...
