Macquarie Group Ltd.’s investing division agreed to buy a US business with $12.3 billion in assets from Foresters Financial, which is seeking to focus on life insurance. Foresters is also selling its US broker-dealer including 40 branch offices to Cetera Financial Group, the Toronto-based company said Tuesday in a statement. Foresters said the transactions are… Continue reading Macquarie to Acquire $12 Billion Asset Manager From Foresters
Tag: life insurance
Nearly Half of Americans More Likely to Buy Simplified Underwritten Life Insurance
Almost half of Americans (47 percent) say they are more likely to buy life insurance using simplified underwriting, which generally means getting coverage more quickly and without a medical exam, versus traditional underwriting approaches, according to new findings from the 2019 Insurance Barometer Study. To broaden their reach and address declining ownership numbers, many life… Continue reading Nearly Half of Americans More Likely to Buy Simplified Underwritten Life Insurance
U.S. Life & Annuity Income Up 8.5% in 2018: A.M. Best
The U.S life and annuity industry’s total income increased by 8.5% in 2018, according to a recent report by A.M. Best, which attributed the rise to a $54.1 billion increase in other income. Analysts explained that this boost offset modest increases in premium and annuity considerations and net investment income. The report found that the… Continue reading U.S. Life & Annuity Income Up 8.5% in 2018: A.M. Best
Jeff Burt Appointed President of Hannover Re US
Hannover Life Reassurance Company of America (Hannover Re US), announces the appointment of Jeff Burt as President. In this role, he will be responsible for Hannover Re’s life and health reinsurance business in the United States. Jeff joined Hannover Re US in 2003 as Vice President, Marketing with responsibilities for client relationships in traditional life… Continue reading Jeff Burt Appointed President of Hannover Re US
Chubb Announces Long-Term Distribution Agreement with Banco de Chile
Chubb Limited announced today that it has entered into a 15-year distribution agreement with Banco de Chile, the largest bank based in Chile. Under the terms of the agreement, Chubb will distribute its life and general insurance products on an exclusive basis in Chile through Banco de Chile’s multiple channels, including in-branch, automated teller machines,… Continue reading Chubb Announces Long-Term Distribution Agreement with Banco de Chile
New York Insurers Can Evaluate Your Social Media Use—If They Can Prove Why It’s Needed
New York’s top financial regulator is going to allow life insurers to use data from social media and other nontraditional sources when setting premium rates, though the insurers will have to prove the information doesn’t unfairly discriminate against certain customers. New York is the first state to set specific guidance governing how life insurers use… Continue reading New York Insurers Can Evaluate Your Social Media Use—If They Can Prove Why It’s Needed
Arthur J. Gallagher & Co. Acquires Partners Advantage Insurance Services, LLC and AMZ Financial Insurance Services, LLC
Arthur J. Gallagher & Co. today announced the acquisition of Urbandale, Iowa-based Partners Advantage Insurance Services, LLC and AMZ Financial Insurance Services, LLC, wholly owned subsidiaries of Inversion Holding Company LLC. Terms of the transaction were not disclosed. Together, Partners Advantage and AMZ Financial rank among the largest independent life insurance wholesale brokerage operations in… Continue reading Arthur J. Gallagher & Co. Acquires Partners Advantage Insurance Services, LLC and AMZ Financial Insurance Services, LLC
MetLife Names Khalaf CEO, Kandarian to Retire
MetLife Inc on Tuesday named insider Michel Khalaf as its new chief executive officer to succeed Steven Kandarian, who held the position for eight years and helped the company ride through intense regulatory oversight in the wake of the financial crisis. Khalaf, who headed the company’s U.S. and EMEA business, will move into the new… Continue reading MetLife Names Khalaf CEO, Kandarian to Retire
Chris Anderson to Lead Finance at Combined Insurance as Senior Vice President, CFO
Combined Insurance, a leading provider of individual supplemental accident, disability, health, and life insurance products, and a Chubb company, announced Chris Anderson as the company’s new Senior Vice President, Chief Financial Officer. Anderson previously held the role of Controller at Combined Insurance, and is now responsible for the end-to-end leadership of the company’s Finance function.… Continue reading Chris Anderson to Lead Finance at Combined Insurance as Senior Vice President, CFO
MetLife Reaches Settlement with Massachusetts Over Failure to Pay Thousands of Workers’ Pensions
MetLife Inc. will pay a $1 million fine to Massachusetts in its first regulatory settlement after the insurer failed to pay 13,500 people their pension benefits. The big New York insurer disclosed almost exactly one year ago that it had failed to adequately search for beneficiaries of private-sector pension plans for which it had taken… Continue reading MetLife Reaches Settlement with Massachusetts Over Failure to Pay Thousands of Workers’ Pensions