Technology startups are ready to challenge traditional life insurers head on. Bestow Inc. and Dayforward Inc. are making the leap to become life-insurance carriers, a move away from a model where startups only sell traditional insurers’ policies. The companies are banking on their versions of online technology for sizing up the risk of insurance applicants… Continue reading Tech Startups Want to Sell You Their Life Insurance
Tag: life insurance
Life Insurers’ Road to Full Recovery Is Long
Life-insurance stocks have been the beneficiaries of a huge relief rally this month, thanks to positive vaccine news and a jump in U.S. Treasury yields. But it is too soon to declare them fully healed. Shares of life-and-health insurers in the S&P 500 are up 22% since the start of the month, about twice the… Continue reading Life Insurers’ Road to Full Recovery Is Long
Swiss Re Announces Further Restructuring Plans
Swiss Re announced today further streamlining of the legal entity structure of the Group. Following the announcement on 19 June 2020 that the Life Capital Business Unit will be disbanded, Swiss Re intends to also reorganize the legal entity structure of its Corporate Solutions Business Unit. As part of the changes, the Group intends to… Continue reading Swiss Re Announces Further Restructuring Plans
National Survey Reveals Top Reasons People Do & Don’t Buy Life Insurance
Life insurance can pay for final expenses and provide financial security for loved ones left behind, but a new national survey from Erie Insurance shows many people are confused about it. Large percentages of respondents were unsure how various occupations and health conditions might affect who can or can’t get life insurance, and many significantly… Continue reading National Survey Reveals Top Reasons People Do & Don’t Buy Life Insurance
Prudential Reprices Some Life Products as Lower Rates Weigh on Profits
Prudential Financial Inc. planned for a pandemic as severe as the Spanish flu, modeling for a potential crisis that would be more severe than the initial coronavirus outbreak suggested. This prepared the company for some of the financial shocks, such as the difficulty in preserving capital, but not the ultralow interest rates. Ken Tanji, chief… Continue reading Prudential Reprices Some Life Products as Lower Rates Weigh on Profits
Allianz, Generali Said to Plan Life Insurance Asset Sales
Two of Europe’s largest insurers are gearing up to sell billions of euros in life assets — a niche corner of dealmaking keeping bankers busy amid the coronavirus pandemic. Allianz SE is planning to divest as much as 9 billion euros ($9.9 billion) of life insurance assets in countries including Italy, according to people familiar… Continue reading Allianz, Generali Said to Plan Life Insurance Asset Sales
U.S. Life, Health Insurers See Most Risk Amid Coronavirus Fallout: Fitch
North American insurers face key vulnerabilities and potentially unforeseen downside risks amid the fallout from the coronavirus pandemic, including outsized investment exposure with market volatility exacerbating potential issuer defaults, increased mortality risk and elevated claims, Fitch Ratings says Fitch revised the life and health insurance sector rating outlooks to negative from stable amid the coronavirus… Continue reading U.S. Life, Health Insurers See Most Risk Amid Coronavirus Fallout: Fitch
MassMutual Announces $3B of Free Life Insurance for Healthcare Workers on the COVID-19 Frontline
MassMutual is offering free term life insurance to frontline healthcare workers across Massachusetts and Connecticut through its new HealthBridge initiative in response to the COVID-19 pandemic. MassMutual HealthBridge is our way of helping the everyday heroes on the front lines who are sacrificing so much in the fight against COVID-19,” said Roger Crandall, MassMutual Chairman,… Continue reading MassMutual Announces $3B of Free Life Insurance for Healthcare Workers on the COVID-19 Frontline
Life Insurance Steady Under the Quarantine
Life Insurance Boom Amid the crisis brought on the coronavirus pandemic, insurance companies have been rocked both by criticism and by claims. Several local and national governments have ordered companies to refund premiums or to accept clients who normally would have been refused. But in the midst of all this, the life insurance business seems… Continue reading Life Insurance Steady Under the Quarantine
Aflac Signs Agreement to Acquire Zurich’s Group Benefits Business
Aflac Incorporated announced today that its insurance subsidiaries American Family Life Assurance Company of Columbus (Aflac of Columbus) and American Family Life Assurance Company of New York (Aflac of New York) have entered into a definitive agreement to acquire Zurich North America’s U.S. Corporate Life and Pensions (Group Benefits) business, which consists of group life,… Continue reading Aflac Signs Agreement to Acquire Zurich’s Group Benefits Business