Latest Life Insurance Headlines
All the headlines from our Life Insurance Topic Page, ordered by recency.
AIG Reports Rise in 2Q 2001 Income to $1.66 Billion
Jul 30 2001 // American International Group Inc. (AIG) reported that its income excluding net realized capital gains (losses) increased 15.8 percent to $1.66 billion in the second quarter and, also excluding the first quarter cumulative...
‘Operation Cleansheet’ Reveals Dirty Laundry
Jun 25 2001 // The California Department of Insurance (CDI) announced the sentencing of Lonnie Lee Harwell, a Sacramento man, for his alleged involvement in a nationwide scheme intended to defraud investors and the insurance industry....
CDI Investigation Leads to Empty Coffin
Apr 28 2001 // The Criminal Investigations Branch Investigators of the California Department of Insurance (CDI) announced a successful conclusion to a complicated investigation. Two individuals involved in a life insurance scam pleaded...
ING Sells Argentine Life Sub to AIG – Expands Polish Operations
Apr 27 2001 // Holland’s ING Group agreed to sell Aetna Vida S.A., an Argentine life subsidiary it acquired last year as part of Aetna’s international operations, to AIG’s American Life Insurance Company for an...
AIG Gets Final Approvals for Chiyoda Takeover
Apr 23 2001 // The Tokyo District Court, Japanese regulatory authorities and major creditors have all given final approval to American International Group’s takeover of failed insurer Chiyoda Mutual Life Insurance Co. Chiyoda filed...
Are You Ready to Put the Life Back into Your Agency’
Apr 9 2001 // Traditional p/c agencies may consider a life department for increasing profits, retention Insured households carry more coverage than ever before, but at the same time, the insurance industry is reaching fewer U.S....
Pru/Am Gen Merger Tops Insurance Deals
Mar 26 2001 // Last January, Prudential plc Chief Executive Jonathan Bloomer indicated he was still looking for opportunities in the U.S. The search culminated March 12 in Houston, Texas, with the announcement that Britain’s...
CGNU Expands in Hungary, India
Mar 21 2001 // Britain’s CGNU revealed plans to expand in Eastern Europe and India with the announcement that it would purchase Mebit, Hungary’s sixth largest life insurer, and would launch a mutual fund subsidiary in India...
Britain’s Prudential To Buy Am Gen In Biggest Insurance Deal Ever
Mar 19 2001 // Last January Prudential plc Chief Executive Jonathan Bloomer indicated he was still looking for opportunities in the U.S. The search culminated March 12 in Houston with the announcement that Britain’s venerable...
Prudential (U.K.) To Buy American General For $26.5 Billion
Mar 12 2001 // In the biggest insurance industry merger ever, Prudential Plc, Britain’s largest life insurer, has agreed on merger plans with Houston-based American General Corp. The combination would create the world’s sixth...
British Life Insurer Cuts 2,000 Jobs
Mar 7 2001 // Britannic is to cut more than 40 percent of its workforce, with 2,000 positions coming from the Britannic Assurance arm. The company blamed the cuts on a growth in red tape and the end of the UK’s jobs-for-life...
AIG Bails Out Chiyoda Life; Taisho Life Also Rescued
Feb 23 2001 // AIG plans to inject $513.5 million in capital into failed Chiyoda Mutual Life Insurance Co, sponsoring a revival plan for Japan’s 12th largest life insurer. “As a result, AIG will significantly expand its...
Caught After Years of Wrongdoing
Feb 12 2001 // Following a six-month investigation, former insurance agent Charles Stanley Tigner was arrested on a Tulare County Superior Court warrant. Among the 127 criminal violations charged in the warrant are insurance fraud, grand...
Japan’s Softbank To Take Over Failed Life Insurer
Jan 24 2001 // Japan’s Softbank Corp. is reported to be seeking to enter the life insurance market through its Softbank Finance Co. unit, which is seeking to acquire the policies and remaining assets of failed insurer Taisho Life...
U.K.’s Prudential To Buy Japanese Life Insurer
Jan 23 2001 // The U.K. ‘s Prudential announced plans to purchase Japan’s Orico Life, a subsidiary of Orient Corp., for 23 billion yen (around $200 million). The move will further strengthen the company’s Asian...
Swiss Re Plans U.S. Internet Life Venture
Jan 23 2001 // London’s Financial Times reports that Swiss Re plans to start a joint venture with a technology company to offer life insurance products in the U.S. via the Internet within the next few months. The world’s...
Former Calif. Agent Arrested on Warrant Charging 127 Criminal Violations
Jan 4 2001 // Following a six-month investigation, former insurance agent Charles Stanley Tigner was arrested on a Tulare County Superior Court warrant. Among the 127 criminal violations charged in the warrant are insurance fraud, grand...
Japan Life Sector – Kyoei To File For Protection – AIG Appointed For Chiyoda
Oct 20 2000 // More trouble was announced this morning for Japan’s life insurance sector with the news that Kyoei Life Insurance, the nation’s 11th largest life insurer, is preparing to file for court protection. With total...
13 Insurers Await Indian Licenses
Oct 17 2000 // India’s Insurance Regulatory and Development Authority confirmed that 13 foreign based insurance companies with their local partners have applied for permission to establish privately owned life or general insurance...
UnumProvident Announces Reinsurance Agreements; To Sell Inactive Subsidiary to Allstate
Aug 29 2000 // UnumProvident Corp., the largest U.S. disability insurer, announced the signing of definitive agreements for a series of strategic transactions designed to more closely focus its operations on its core businesses and...
