life insurance contracts News

AIG, Lincoln Among Insurers Said Pushed by N.Y. on Universal Life Product Reserves

New York State’s financial-services regulator is pressing insurers including American International Group Inc., Lincoln National Corp. and Principal Financial Group Inc. to boost reserves at units in the state, a person familiar with the matter said. The group of insurers, …

New York to Opt Out of New Rules for Universal Life Insurance Policies

New York State’s financial-services regulator said rules adopted by state watchdogs for some life insurance contracts failed to boost reserves to adequate levels in the industry. Of sixteen companies that are major sellers of universal life policies with secondary guarantees, …