Latest Life Insurance Headlines
All the headlines from our Life Insurance Topic Page, ordered by recency.
Swiss Re in $1.268 Billion Deal with Berkshire Hathaway Life Insurer
Jan 19 2010 // Swiss Re has concluded an agreement with Berkshire Hathaway Life Insurance Company of Nebraska to cede, a “closed block of yearly renewable term individual life reinsurance business, written prior to 2004.” The...
Former N.D. Regulator Possibly a Candidate to Lead Insurance Lobby
Jan 19 2010 // U.S. Rep. Earl Pomeroy of North Dakota is not seeking the presidency of a Washington lobbying group for life insurers, a spokeswoman said, although an industry representative called the North Dakota Democrat a...
Pan-American Life Creates Pan-American Benefits Solutions
Jan 11 2010 // New Oreleans-based Pan-American Life Insurance Group announced the launch of its new member company, Pan-American Benefits Solutions Inc. Pan-American Benefits Solutions is a provider of group benefit programs that offer...
Court Upholds $500 Million Award Against U.S. Life Insurance Co.
Jan 7 2010 // The U.S. Ninth Circuit Court of Appeals has upheld an arbitration award requiring U.S. Life Insurance Co. to pay reinsurance of more than $500 million to Superior National Insurance Companies, workers’ compensation...
Best Affirms USAA’s ‘A++’ Ratings
Dec 23 2009 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A++’ (Superior) and ICRs of “aaa” of United Services Automobile Association (USAA) of San Antonio, Texas and its property/casualty...
AIG Further Cuts Debt Owed U.S.; Readies Global Life Units for Sale
Dec 1 2009 // American International Group, Inc. (AIG) today said that it has closed two previously announced transactions with the Federal Reserve Bank of New York (FRBNY) that have reduced the debt AIG owes the FRBNY by $25 billion in...
Georgia Soldiers to Get Insurance Refunds
Nov 13 2009 // Georgia’s insurance commissioner said American Fidelity Life Insurance has agreed to refund its life insurance policy holders $275 each. Soldiers who purchased policies written from Sept. 1, 2004 to Oct. 2009 are...
Southern California Agents Pleads to Fraud
Nov 12 2009 // California Insurance Commissioner Steve Poizner today announced that Edwin A. Flores, 33, of Long Beach pled guilty to one count of misdemeanor grand theft and was sentenced Nov. 5 to two years probation, 120 hours of...
Analysts Forecast Healthy Q3 Reports from Insurers
Oct 22 2009 // If the stock market and weather are any indication, third-quarter earnings reports from insurers will look a lot better than they did a year ago. The big companies, which began their reporting season today with Travelers...
California Regulates Life Insurance Resale
Oct 16 2009 // California no longer allows an individual to buy a life insurance policy for investors, and anyone who handles the sale of second-hand life insurance policies–so-called life settlements–must be licensed. Senate...
AIG Sells Taiwan Life Insurance Unit for $2.15 Billion
Oct 13 2009 // American International Group is to sell its Taiwan life insurance unit for $2.15 billion, marking the largest disposal since a U.S. government bailout saved the insurer from collapse last year. The sale of Nan Shan Life on...
California Settles Life Insurer Violations Case
Sep 30 2009 // California State Insurance Commissioner Steve Poizner announced today that the Department of Insurance has reached a $600,000 settlement agreement with Life Insurance Company of North America (“LINA”) to...
Bank Insurance Program Productivity Up 12.5% in 2009
Sep 29 2009 // The production of insurance brokerage fee income per bank employee continued to rise through the first two quarters of 2009 to exceed year-end 2008 productivity by 12.5 percent, according to the Michael White-Prudential...
Text: Senate Finance Committee’s America’s Healthy Future Act of 2009
Sep 16 2009 // Chairman’s Mark America’s Healthy Future Act of 2009 Scheduled for Markup By the Senate Committee on Finance On September 22, 2009 America’s Healthy Future Act of 2009 TITLE I—HEALTH CARE...
U.S. Courts Rejects California Law on Insurance Claims for Armenians
Aug 24 2009 // A federal appeals court invalidated a California law Thursday that allowed heirs of Armenians killed in the Turkish Ottoman Empire nearly a century ago to seek payment on the life insurance policies of dead relatives. The...
Study: Health, Life Insurers Ignoring Younger Generations
Jul 31 2009 // Age may determine how much health and life insurance companies spend trying to get people onboard. A new study shows health and life insurers pay much more attention to Baby Boomers than they do to Generation X and...
Source Says Prudential in Talks with AIG to Buy Japanese Life Units
Jul 16 2009 // American International Group is in talks with a Prudential Financial Inc. unit to sell two Japanese life insurers, a person familiar with the matter said Wednesday. The talks for AIG Edison Life Insurance Co and AIG Star...
AIG Speeds Up Life Insurance Unit IPO
Jul 15 2009 // American International Group, Inc. (AIG) today announced it will accelerate steps to position American Life Insurance Co. (ALICO) as an independent entity and seek an initial public offering and public listing in New York,...
Blackstone, Goldman, Credit Suisse Back New Insurance Brokerage
Jul 7 2009 // A group of private equity investors, including affiliates of The Blackstone Group, Goldman Sachs and Credit Suisse, is launching a new life insurance and benefits brokerage serving the middle market and small businesses,...
AIG’s Taiwan Life Insurer Drawing Interest From J.C. Flowers, Fubon
Jun 19 2009 // Several U.S. private equity firms and Taiwanese financial groups are showing early interest in the sale of AIG’s Taiwan life insurance unit, banking sources said on Friday, in a deal the seller hopes could raise...
