Latest Life Insurance Headlines
All the headlines from our Life Insurance Topic Page, ordered by recency.
New York Agrees to ‘Principle-Based’ Reserving Rule for Life Insurers
Jul 7 2016 // New York state’s top financial regulator, Maria Vullo, agreed to adopt new industry-supported reserve requirements for life insurers, departing from a predecessor who derided the shift as ” unwise.” The...
Ohio Insurance Agent’s License Revoked after $800K in Client Losses
Jun 22 2016 // Ohio Lieutenant Governor Mary Taylor has revoked the license of insurance agent Brian Willms, of Dublin, for misrepresenting life insurance policies as an investment. The misrepresentations contributed to two clients...
Munich Re to Spend $1.1B by 2020 to Restructure Primary Insurance Unit
Jun 1 2016 // Munich Re, the world’s second-biggest reinsurer, plans to spend 1 billion euros ($1.1 billion) by 2020 restructuring operations at its loss-making primary insurance unit in Germany. The plan for ERGO’s German...
The Unpleasantness of Selling and Buying Insurance
May 26 2016 // Do you have a minute to talk about your death? It isn’t easy to sell life insurance. Investing in a mutual fund, you feel like you’re saving money. Purchasing insurance, you feel like you’re spending it....
Watsa’s Fairfax Plans to Buy Control of Indonesia Insurer’s Non-Life Unit: Sources
May 17 2016 // Fairfax Financial Holdings Ltd., the Canadian investment firm led by Prem Watsa, is in advanced talks to buy control of Indonesian financial group PT Paninvest’s non-life insurance unit, people with knowledge of the...
Japanese Insurers Expected to Continue U.S. Spending Spree: Investment Bankers
May 4 2016 // Japanese insurers made more than $18 billion worth of acquisitions in the U.S. last year, and their spending spree isn’t over yet, industry dealmakers said on Tuesday. Japan has a number of large, healthy insurers...
India’s 1st Insurer IPO Paves Way for More Public Offerings in $60B-Plus Industry
Apr 22 2016 // India will get its first life-insurance listing since it opened up to private-sector investors 16 years ago, paving the way for more companies seeking to go public in an industry that’s since grown to more than $50...
AXA in Talks to Sell Most of UK Life Insurance & Wealth Investment Units: Sources
Apr 12 2016 // AXA SA, France’s largest insurer, is in talks to sell most of its U.K. life-insurance and wealth-investments units, according to two people with knowledge of the matter. AXA is likely to sell parts of the businesses,...
Life Insurer Pledges $25M in Low-Cost Loans for Flint Lead Pipe Removal
Mar 8 2016 // The mayor of Flint, Mich., says Union Labor Life Insurance Co. has committed to bring $25 million in low-cost loans to help remove lead pipes and improve water quality. Karen Weaver announced the funding on March 6, saying...
Pennsylvania Reclaimed $185M for Consumers in 2015
Mar 7 2016 // Pennsylvania Insurance Commissioner Teresa Miller announced that the state’s Insurance Department reclaimed $185,055,050 for insurance consumers in the state during 2015. The commissioner said that throughout 2015,...
AXA’s 2015 Net Income Rises 12% on Life Insurance Sales in Europe, Asia
Feb 25 2016 // AXA SA, France’s largest insurer, said 2015 profit rose 12 percent, helped by higher life insurance sales in Europe and Asia. The shares rose. Net income climbed to 5.62 billion euros ($6.2 billion) from 5.02 billion...
Pennsylvania Reclaimed $185M for Insurance Consumers in 2015
Feb 24 2016 // Pennsylvania Insurance Commissioner Teresa Miller announced that the state’s Insurance Department reclaimed $185,055,050 for insurance consumers throughout the state during 2015. The commissioner said that throughout...
Allianz Puts South Korean Life Insurance Unit on Block: Sources
Feb 24 2016 // Europe’s largest insurer Allianz has put its South Korean life insurance business on the block as part of a global overhaul in a tough low-interest rate environment, sources with direct knowledge of the matter...
Minnesota: Exams of 16 Life Insurers Find $174M in Unpaid Benefits, So Far
Feb 16 2016 // Minnesota Commerce Commissioner Mike Rothman announced that his department has reached settlement agreements with three more life insurance companies that owed money to Minnesotans for unpaid insurance policies, annuity...
Battered by Long-Term Insurance Losses, Genworth Eyes Asset Sales
Feb 15 2016 // Genworth Financial Inc., the insurer battered by losses on long-term care coverage, has said it could pursue more divestitures to help pay down more than $500 million in debt maturing in 2018 as turmoil in the bond market...
6 Forecasts for P/C Insurance in 2016
Jan 4 2016 // Some, but not all, experts see an improving U.S. economy in 2016 helping to boost the property/casualty (P/C) insurance sector. Some of these prognosticators are more optimistic than others. But most also anticipate...
Fitch’s Sector Outlook for UK Non-Life: Stable – French Non-Life: Negative
Dec 17 2015 // Fitch Ratings has issued reports on both the UK and the French non-life insurance sectors. The UK report indicates that “operating conditions within the UK non-life company market are expected to remain stable in...
Emerging Markets Are Growth Engines for Re/Insurance Industry: Swiss Re Report
Nov 25 2015 // The global economy is expected to strengthen moderately next year, which will support insurance premium growth in most regions, according to Swiss Re’s latest publication titled “Global insurance review 2015...
Florida Podiatrist Using Wife’s Life Insurance to Pay for Murder Defense
Nov 25 2015 // A Florida podiatrist accused of killing his estranged wife is using part of her life insurance settlement to pay for his defense. The Tallahassee Democrat reports that 48-year-old Dr. Adam Frasch pleaded not guilty to...
Generali Q3 Profit Falls 18% on Decline in Life Insurance Business
Nov 5 2015 // Assicurazioni Generali SpA, Italy’s biggest insurer, said third-quarter profit fell 18 percent after operating income declined at its life-insurance business. Net income dropped to 420 million euros [$458.6 million]...
