Latest Life Insurance Headlines
All the headlines from our Life Insurance Topic Page, ordered by recency.
Home, Pet Insurer Lemonade Bypasses Auto in Favor of Life… for Now
Nov 13 2020 // Lemonade plans to start selling term life insurance in the next 90 days, adding to its current rental, homeowners and pet insurance offerings, the company said in an earnings report this week. During an investor conference...
Threat of U.S. Insurance Regulatory Crackdown Fades Without Democratic ‘Blue Wave’
Nov 5 2020 // Insurers appear to have dodged a revival of strict regulations and policy upheavals after an anticipated Democratic “Blue Wave,” which would have allowed progressives to push for broad reforms, failed to...
AIG Names Zaffino to Succeed Duperreault as CEO; Will Spin Off Life Insurance Business
Oct 26 2020 // American International Group has disclosed significant leadership changes as well as plans to separate its Life & Retirement business into an independent company. Peter Zaffino, currently AIG’s president and...
Talanx Acquires Italian Non-Life Insurer Amissima
Oct 22 2020 // The Talanx Group, the Hanover, Germany-based insurance group, announced it is expanding its business in Italy by making a bolt-on acquisition, via its Italian subsidiary. HDI Assicurazioni, a subsidiary of HDI...
Progressive CEO Says Move Into Life Insurance Possible: ‘More to Come’
Oct 7 2020 // Progressive Corp. could soon expand its horizons into life insurance. “We actually are considering that,” Chief Executive Officer Tricia Griffith said when asked about a possible move. “We have a...
India Weighs Sale of 25% Stake in Nation’s Biggest Life Insurer
Sep 30 2020 // India is planning to seek cabinet’s approval to sell 25% stake in the nation’s largest life insurer, people with knowledge of the matter said, as Prime Minister Narendra Modi seeks resources to plug a widening...
COVID-19 Takes Toll on Canada’s Auto, Life Insurers
Sep 10 2020 // Canada’s property/casualty insurance industry thus far has fared better than its life counterpart amid the economic and market dynamics created by the COVID-19 pandemic, according to an AM Best report. In its...
North Carolina Fines Gerber Life Insurance Co. $1.1 million for Claims Violations
Aug 28 2020 // The North Carolina Department of Insurance has entered into a voluntary settlement agreement with Gerber Life Insurance Company that includes a $1.1 million penalty for numerous violations related to its claims practices...
Allianz Benelux Sells Closed Life Insurance Book to Monument Assurance Belgium
Aug 18 2020 // Allianz Benelux in Belgium reported it will transfer a closed book of life retail insurance business together with 4.500 mortgage loans to Monument Assurance Belgium (MAB) within 18 months after regulatory approvals. The...
Canadian Life Insurers to See Double-Digit Profit Drop in Q2 on COVID-19 Impact
Jul 31 2020 // Canadian life insurers are set to see double-digit earnings decreases in the second quarter as the pandemic-induced economic slowdown has ushered in decade-low interest rates and weighed on sales. Analysts predict declines...
Credit Scoring Battle Brewing Between Washington Commissioner and Insurer Groups
Jul 27 2020 // Insurer groups are taking issue with push by Washington Insurance Commissioner Mike Kreidler to prohibit insurers from including information from consumer credit histories in the insurance scores used to calculate premiums...
New York Insurance Broker Arrested, Charged in $1M Fraud Scheme
Jun 30 2020 // A New York state insurance broker has been arrested and charged with wire fraud, attempted wire fraud and aggravated identity theft and is facing a maximum penalty of 20 years in prison. U.S. Attorney James P. Kennedy Jr....
North Carolina-Based BB&T Rebrands as Truist Insurance Holdings
Jun 30 2020 // BB&T Insurance Holdings, Inc., a subsidiary of Truist Bank, is officially now doing business as Truist Insurance Holdings, Inc. With $30 billion in premium in 2019, Truist Insurance Holdings is the fifth-largest...
Swiss Re-Backed Nigerian Life Insurer Sees Sales Surge as Pandemic Starts Taking Hold
Jun 16 2020 // Nigeria’s biggest insurer is seeing more demand from the government and employers of health workers for life cover as the coronavirus pandemic starts taking hold in Africa’s most populous country. “Health...
Carlyle, T&D Holdings Complete Acquisition of 76% Interest in Fortitude Group From AIG
Jun 3 2020 // Global investment firm The Carlyle Group and T&D Holdings announced have completed their acquisition of a 76.6% interest in Fortitude Group Holdings, whose group companies include Fortitude Re, from insurer American...
Allianz and Generali Plan to Sell Life Insurance Assets: Sources
May 28 2020 // Two of Europe’s largest insurers are gearing up to sell billions of euros in life assets — a niche corner of dealmaking keeping bankers busy amid the coronavirus pandemic. Allianz SE is planning to divest as...
HSBC’s Life Insurance Unit to Buy Out Joint Venture Partner in China
May 4 2020 // HSBC Holdings PLC said on Monday its insurance unit had agreed to acquire its China life insurance venture partner’s 50% stake to own fully the company under the new rules on foreign ownership that came into effect...
Non-Life Insurance Claims from Pandemic to Surpass 9/11 Claims: Willis Towers Watson
May 1 2020 // Insurance broker Willis Towers Watson on Friday estimated general insurance losses between $32 billion and $80 billion across key classes in the United States and UK from the novel coronavirus, surpassing claims from the...
China Plans to Relax Rules on Foreign Ownership of Domestic Life Insurers: Sources
Apr 9 2020 // China plans to make it easier for foreign life insurers to make controlling acquisitions and large equity investments in domestic peers, five people with knowledge of the matter said, as the country pushes ahead in opening...
South Korean Insurers Hit Hard by Evaporating Investment Returns
Mar 30 2020 // Insurers the world over have been walloped by evaporating investment returns, but those in South Korea have been hit particularly hard. Just consider this: The nation’s second-largest life insurer became a penny...
