life insurance News

Virginia Man Gets Life Without Parole for Killing Son for Insurance

A Virginia man convicted of murdering his 15-month-old-son to collect on life insurance was sentenced Tuesday to life in prison without parole. Joaquin Rams of Manassas, Va., was convicted earlier this year in the 2012 death of his son Prince. …

Woman Accused in Fiance’s River Kayaking Death in New York Pleads Guilty

A woman who was accused of intentionally drowning her fiance in the Hudson River by tampering with his kayak as part of a murderous plot to collect on his life insurance pleaded guilty on Monday to a lesser charge that …

UK’s Aviva to Sell Asia/Middle East Life Unit to Focus on Core Markets

Aviva, Britain’s biggest life insurer, said it would sell Friends Provident International (FPIL), which provides life assurance and investment products in Asia and the Middle East, to a unit of International Financial Group for 340 million pounds ($443 million). The …

Generali to Sell $50B German Life Business to Restructure in Europe: Sources

Generali has put its 44 billion euro ($50 billion) German life insurance portfolio up for sale as it restructures in Europe, sources close to the matter said. Morgan Stanley is evaluating options, including a sale, for Generali Leben which ceased …

Global Premium Growth Slows in 2016 – with China as Exception: Swiss Re

Global insurance premiums increased by 3.1 percent in real terms during 2016, down from growth of 4.3 percent reported in 2015, according to Swiss Re Institute’s sigma study. The report described last year’s global premiums as “fairly solid,” despite moderate …

Pennsylvania Insurance Agent Pleads Guilty in $8.2M Promissory Note Scam

An insurance agent pleaded guilty Thursday in a promissory note scam that bilked nearly 80 clients out of $8.2 million. John Hogan, 77, of Swissvale, Penn., entered his pleas to five counts of mail fraud in the scheme run out …

UK’s Aviva Buys Remaining 50% Share in Vietnam Joint Venture

Aviva plc has acquired VietinBank’s entire 50 percent shareholding in its life insurance joint venture VietinBank Aviva Life Insurance Ltd. Aviva also has signed a new distribution agreement with VietinBank to sell life and health insurance products through VietinBank’s network …

Global Insurance Industry Set to Grow by 4.5% in 2017-2018: Munich Re

The global insurance industry is set to grow more strongly at 4.5 percent per annum on average (3.0 percent in real terms, or adjusted for inflation) during 2017 and 2018, according to Munich Re. While premium income is likely to …

Trial Concludes for Virginia Man Accused of Killing Son for Insurance

Joaquin Rams is either a father unjustly accused in the tragic, unexplained death of his 1-year-old son, or he is the most cold-blooded of murderers who snuffed the life from his boy to collect half a million dollars in life …

Scotland’s Standard Life to Buy Aberdeen Asset Management for $4.7B

Standard Life Plc, Scotland’s largest insurer, agreed to acquire Aberdeen Asset Management Plc for about 3.8 billion pounds ($4.7 billion), creating one of Europe’s biggest fund managers. Under the terms, which remain the same since talks were first revealed on …