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John O. Wilson, 54, of Antioch, Tenn., was sentenced today to 52 months in prison, followed by three years of supervised release for defrauding his clients and insurance agencies out of more than $800,000, announced Jack Smith, Acting United States Attorney for the Middle District of Tennessee. Wilson was also ordered to pay $841,000 in restitution.

The post Tennessee Man Sentenced In Insurance Fraud Scheme appeared first on InsuranceNewsNet.

Author: user
Posted: May 25, 2017, 10:21 pm

Deirdre M. Daly, United States Attorney for the District of Connecticut, announced that DAVID QUATRELLA, 62, of Trumbull, was sentenced today by U.S. District Judge Alvin W. Thompson in Hartford to 36 months of imprisonment, followed by three years of supervised release, for participating in a scheme to defraud insurance companies into issuing insurance...

The post Attorney Sentenced In STOLI Scheme appeared first on InsuranceNewsNet.

Author: user
Posted: May 25, 2017, 10:21 pm

At the annual meeting of shareholders today, Unum CEO Richard P. McKenney addressed the company’ s strong performance, industry leadership, and the growing need for the financial protection Unum provides. In 2016, Unum earned record revenues of nearly $11.1 billion and paid approximately $6.9 billion in benefits. “Our mission now is to build on our company’ s...

The post Unum Poised To Build On Market Leadership, Growing Needs appeared first on InsuranceNewsNet.

Author: user
Posted: May 25, 2017, 2:49 pm

May 24-- BOSTON-- A Hingham insurance broker has been found guilty of federal tax fraud for failing to report almost $400,000 of income in 2008 and 2009.. Anthony J. May, 62, of Dover, was convicted Tuesday in U.S. District Court on two counts of filing false tax returns. He'll be sentenced on Oct. 2 by U.S. District Court Judge William G. Young.

The post Massachusetts Insurance Broker Convicted Of Tax Fraud appeared first on InsuranceNewsNet.

Author: user
Posted: May 24, 2017, 9:31 pm

BEIJING, May 24, SinoCast-- China Life will purchase a 95% stake of 48 commercial properties in the US at about USD 950 million. The investment target includes 48 tailor-made properties, with a total area of 5.5 million square feet, is a multi-format, development and mature assets package consisting of logistics, office and medical care formats and is located in the...

The post China Life To Buy 48 Commercial Properties In U.S. appeared first on InsuranceNewsNet.

Author: user
Posted: May 24, 2017, 10:23 am

Eugene Mitchell and New York Life are creating $50 Billion in Black wealth. That's the motto that Eugene Mitchell, a corporate vice president and market manager in the African-American Market Unit for the New York Life Insurance Company, often shares. Since 2011, Mitchell has been on a mission to create wealth- $50 billion to be exact-in the Black community...

The post Life Insurance Is One Key To Black Wealth appeared first on InsuranceNewsNet.

Author: user
Posted: May 19, 2017, 5:24 pm

The average time between an agent applying for life insurance coverage and receiving a response has been cut by more than a week, thanks to new technology.

The post eApps Make Inroads, Reduce Cycle Times appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: May 18, 2017, 6:13 pm

What do you get for the coach who has it all? Term life insurance, of course.

The post When Term Life Insurance Scores A Touchdown appeared first on InsuranceNewsNet.

Author: user
Posted: May 18, 2017, 10:51 am

Authorities say two former insurance agents defrauded nearly a dozen life insurers out of more than $300,000 in a massive scheme involving fraudulent life insurance policies.

The post Two Former Agents Face 55 Felony Counts in Life Scheme appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: May 17, 2017, 1:00 pm

Allianz Life Insurance sold $1.45 billion worth of hybrid variable annuities last year, the first time the product outsold traditional variable annuities, company execs report.

The post Annuity Sales Help Allianz Profit Rise 9 Percent in 1Q appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: May 16, 2017, 1:55 pm

SIOUX FALLS, S.D., May 15, 2017 (GLOBE NEWSWIRE) -- Former Midland National® Life Insurance Company President and Chief Executive Officer...

The post Former Midland National CEO William Rigsbee Dies appeared first on InsuranceNewsNet.

Author: user
Posted: May 15, 2017, 9:24 pm

National Life's Board of Directors has elected Chief Executive Officer Mehran Assadi chairman of the board, effective immediately. He succeeds Thomas H. MacLeay, a former president and CEO who has served as chairman since 2002. The unanimous election of Assadi by the Board of Directors followed the annual meeting on May 12, 2017.

The post Mehran Assadi Elected Chairman Of The Board Of National Life Group appeared first on InsuranceNewsNet.

Author: user
Posted: May 15, 2017, 7:30 pm

Massachusetts Mutual Life Insurance Company today unveiled a newly refreshed brand, designed to better reflect and build on its legacy and the core values that have guided the company since its founding. "Since 1851, MassMutual has been guided by our founding principle— we are people coming together to look out for one another," said Gareth Ross, MassMutual...

The post MassMutual Refreshes Brand appeared first on InsuranceNewsNet.

Author: user
Posted: May 15, 2017, 2:00 pm

IUL sales in 2016 reached a record $1.86 billion and the forecast is for an even better year in 2017, according to analysts. Voya Financial is reaping the benefits.

The post Voya Financial’s IUL Gambit Pays Off appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: May 12, 2017, 12:24 pm

Braintree, MA. (May 10, 2017) — U.S. individually underwritten life insurance activity showed positive trends this April after three consecutive...

The post U.S. Life Insurance Activity Leveled In April appeared first on InsuranceNewsNet.

Author: user
Posted: May 10, 2017, 6:13 pm

May 09-- Insurance company AXA plans to hire 550 new workers in Charlotte over the next five years, nearly doubling its local presence in the latest boost to the local financial scene. After the $18 million expansion, Charlotte will be AXA' s largest location in the U.S., according to a statement Tuesday from Gov. AXA' s hiring binge is one of the larger in the Charlotte...

The post AXA Plans To Add 500 New Jobs In North Carolina appeared first on InsuranceNewsNet.

Author: user
Posted: May 9, 2017, 10:01 pm

A federal appeals court has upheld as lawful the government's bailout of American International Group in the heat of the financial crisis. It overturned a lower-court decision favoring the insurance giant's former CEO.

The post Appeals Court Rules AIG Bailout Was Lawful appeared first on InsuranceNewsNet.

Author: user
Posted: May 9, 2017, 5:21 pm

_ National Western Life Insurance Co. on Tuesday reported first-quarter earnings of $22.9 million. National Western Life shares have decreased slightly since the beginning of the year. Keywords: National Western Life, Earnings Report.

The post National Western Life Posts 1Q Profit appeared first on InsuranceNewsNet.

Author: user
Posted: May 9, 2017, 5:00 pm

--Millennials are much more likely to make risky investment decisions compared to other Americans by reacting to short-term market volatility yet they are less likely to rely on professional financial advice, according to new research from Massachusetts Mutual Life Insurance Co.. "MassMutual's research finds a real' advice gap' exists between younger...

The post Study Finds Significant ‘Advice Gap’ Between Millennials, Other Generations appeared first on InsuranceNewsNet.

Author: user
Posted: May 8, 2017, 1:30 pm

The spinoff of Brighthouse Financial, MetLife’s retail distribution arm, will take place sometime after the first half of the year.

The post Brighthouse Financial Separation Date Moved appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: May 5, 2017, 3:01 pm

—The Chinese insurer that bought New York City's Waldorf Astoria Hotel is fighting an accusation by China's leading business magazine that it lied about its finances. The report by Caixin follows a series of foreign acquisitions by Anbang Insurance Group that raised questions in the Chinese business press about how it was paying for its...

The post Chinese Insurer Fights Misconduct Accusations appeared first on InsuranceNewsNet.

Author: user
Posted: May 4, 2017, 1:52 pm

Voya Financial credits new products, expanded distribution and higher agent productivity for strong first-quarter numbers.

The post Agents, Distribution Power Voya 1Q Results appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: May 4, 2017, 1:32 pm

The launch is part of a new strategy to refine and grow Foresters product portfolio in the U.S. over the next decade. "At Foresters Financial, we believe in enriching lives and building strong communities, and our clients and members share this passion for giving back," said Knut Olson, President, North American Life Insurance and Annuity at Foresters Financial.

The post Foresters Financial Launches ‘Your Term1’ Product. appeared first on InsuranceNewsNet.

Author: user
Posted: May 4, 2017, 11:21 am

_ American Equity Investment Life Holding Co. on Wednesday reported first-quarter net income of $53.9 million, after reporting a loss in the same period a year earlier. On a per-share basis, the West Des Moines, Iowa- based company said it had profit of 60 cents. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 58...

The post American Equity Beats 1Q Profit Forecasts appeared first on InsuranceNewsNet.

Author: user
Posted: May 3, 2017, 10:26 pm

--Voya Financial, Inc. today announced financial results for the first quarter of 2017.. 1 Q 2017 net loss available to common shareholders of $0.75 per diluted share 1, which reflects: A loss of $1.31 per diluted share, after-tax 2, in the Closed Block Variable Annuity segment- the CBVA segment, which is in run-off and not included in operating earnings, is supported...

The post Voya Financial Announces 1Q Results appeared first on InsuranceNewsNet.

Author: user
Posted: May 3, 2017, 10:00 am

_ Genworth Financial Inc. on Tuesday reported first-quarter net income of $155 million. On a per-share basis, the Richmond, Virginia- based company said it had net income of 31 cents. Keywords: Genworth Financial, Earnings Report.

The post Genworth Financial Posts 1Q Profit appeared first on InsuranceNewsNet.

Author: user
Posted: May 2, 2017, 9:22 pm

WINDSOR, Conn., PRNewswire/ -- A new consumer survey by Voya Financial's Annuities and Individual Life businesses revealed that many Americans...

The post 45% of Americans Chose Smartphones, Cars Or Vacations Over Financial Security appeared first on InsuranceNewsNet.

Author: user
Posted: May 2, 2017, 6:57 pm

Pilot programs for agent retention appear to be working at CNO Financial. The results show up on the company's recent bottom line.

The post Agent Recruitment Plan Aims to Reduce Churn appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: May 2, 2017, 1:37 pm

Earnings for Erie-based Erie Indemnity Co. grew 4.3 percent in the first quarter of 2017 to $47.9 million. Revenue from management fees increased 6.7 percent to $24.6 million while commissions paid out during the quarter were up by $11.8 million compared to the same period in 2016.. The company's investment income, calculated before taxes, for the first...

The post Earnings Grow At Erie Insurance appeared first on InsuranceNewsNet.

Author: user
Posted: May 1, 2017, 10:09 pm

American consumers expect the life insurance industry to remain innovative and continue to meet their needs and preferences, according to...

The post Consumers Want Transparent Life Insurance Buying Options appeared first on InsuranceNewsNet.

Author: user
Posted: May 1, 2017, 6:13 pm

_ CNA Financial Corp. on Monday reported first-quarter profit of $260 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share. CNA Financial shares have climbed 9 percent since the beginning of the year.

The post CNA Financial Beats 1Q Profit Forecasts appeared first on InsuranceNewsNet.

Author: user
Posted: May 1, 2017, 10:17 am

But it was the “agent story” at the company’s Liberty National subsidiary that caught the attention of the Wall Street number crunchers.

The post Torchmark: Higher Agent Counts Noted in Earnings Beat appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: April 28, 2017, 7:43 pm

Shelton, CT, April, 2017 – Barnum Financial Group advisor Michael Lynch has been named 2016 Financial Planner of the Year...

The post ‘Financial Planner Of The Year’ Awarded To Michael Lynch appeared first on InsuranceNewsNet.

Author: user
Posted: April 27, 2017, 7:59 pm

--Kansas City Life Insurance Company recorded net income of $5.2 million or $0.53 per share in the first quarter of 2017, an increase of $0.9 million or $0.09 per share relative to the first quarter of 2016. Kansas City Life Insurance Company was established in 1895 and is based in Kansas City, Missouri. SOURCE Kansas City Life Insurance Company.

The post Kansas City Life Announces 1Q Results appeared first on InsuranceNewsNet.

Author: user
Posted: April 27, 2017, 6:57 pm

John Hogan, 77, of Swissvale, entered his pleas to five counts of mail fraud in the scheme run out of his Hogan& Associates business. Hogan promised they'd get at least a 10 percent return, but he instead used the money to prop up 25 homes and investment properties he owned across the country, including in Pennsylvania, Arizona, Florida and Hawaii, authorities said.

The post Pittsburgh Agent Pleads Guilty In $8.2M Scam appeared first on InsuranceNewsNet.

Author: user
Posted: April 27, 2017, 5:41 pm

—A Pittsburgh- area insurance agent is set to plead guilty to mail fraud in a promissory note scam that federal prosecutors say cost investors $8.2 million since 2002.. John Hogan was a licensed insurance agent in Swissvale, but also claimed to be a financial planner though he wasn't licensed to sell investment products. Prosecutors say he sold whole life...

The post Pittsburgh Agent Set To Plead In $82M Scam appeared first on InsuranceNewsNet.

Author: user
Posted: April 27, 2017, 11:44 am

Unum Group today reported net income of $229.9 million for the first quarter of 2017, compared to net income of $210.6 million for the first quarter of 2016.. Net income includes net after-tax realized investment gains and losses on the Company’ s investment portfolio and also, in the first quarter of 2017, a loss from a guaranty fund assessment related to an...

The post Unum Group Reports 1Q Results appeared first on InsuranceNewsNet.

Author: user
Posted: April 26, 2017, 8:15 pm

The insurer said in a court filing that the case should be halted pending a government report requested by President Donald Trump. Trump last week asked federal regulators to review the decision by the Financial Stability Oversight Council. The government then appealed to the U.S. Court of Appeals for the District of Columbia, and a ruling was expected in the...

The post MetLife Asks Court To Put Hold On ‘Too Big To Fail’ Case appeared first on InsuranceNewsNet.

Author: user
Posted: April 24, 2017, 9:11 pm

--The Board of Directors of Kansas City Life Insurance Company declared a quarterly dividend of $0.27 per share on April 24, 2017. Kansas City Life Insurance Company was established in 1895 and is based in Kansas City, Missouri. SOURCE Kansas City Life Insurance Company.

The post Kansas City Life Declares Quarterly Dividend appeared first on InsuranceNewsNet.

Author: user
Posted: April 24, 2017, 9:10 pm

_ Ameriprise Financial Services Inc. on Monday reported first-quarter profit of $403 million. On a per-share basis, the Minneapolis- based company said it had net income of $2.52. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.52 per share.

The post Ameriprise Beats 1Q Profit Forecasts appeared first on InsuranceNewsNet.

Author: user
Posted: April 24, 2017, 9:07 pm

The American Council of Life Insurers issued the following statement by President and CEO Dirk Kempthorne on the Labor Department's fiduciary regulation:. "In comments submitted to the Department of Labor, the American Council of Life Insurers calls on the department to revoke and replace its fiduciary regulation. "The Labor Department needs to return to the...

The post ACLI Issues Statement On Fiduciary Rule appeared first on InsuranceNewsNet.

Author: user
Posted: April 19, 2017, 12:21 pm

NEW YORK--(BUSINESS WIRE)--New York Life Insurance Company today announced outstanding financial results for 2016, setting company records in life insurance...

The post New York Life Posts Record Highs In 2016 appeared first on InsuranceNewsNet.

Author: user
Posted: April 18, 2017, 1:45 pm

Fidelity & Guaranty Life has terminated its deal with China Anbang Insurance Group and said it will consider other possible deals.

The post Fidelity & Guaranty Ends Deal With Anbang appeared first on InsuranceNewsNet.

Author: user
Posted: April 18, 2017, 10:29 am

TRENTON – Attorney General Christopher S. Porrino and the Office of the Insurance Fraud Prosecutor (“OIFP”) announced that a Monmouth...

The post New Jersey Agent, Parents Charged With Fraud appeared first on InsuranceNewsNet.

Author: user
Posted: April 17, 2017, 9:15 pm

American Equity Investment Life Holding Company, a leading issuer of fixed index annuities, is sad to announce that David J. Noble, founder and Chairman of the Board of the Company’ s Board of Directors, passed away peacefully in his sleep on April 16, 2017. Mr. Noble founded the American Equity group of companies in 1995 and served as Chairman, Chief Executive...

The post American Equity Announces Death Of Founder And Chairman David J. Noble appeared first on InsuranceNewsNet.

Author: user
Posted: April 17, 2017, 5:13 pm

CHICAGO, IL – Dearborn National Life Insurance Company has introduced a new service called DearbornCares, which allows eligible life insurance...

The post Dearborn National Introduces DearbornCares appeared first on InsuranceNewsNet.

Author: user
Posted: April 17, 2017, 2:07 pm

Attorney General Christopher S. Porrino and the Office of the Insurance Fraud Prosecutor announced that a Highlands insurance agent and his parents have been charged with conspiracy and money laundering in an alleged scheme that provided insurance applicants with free life insurance and caused various insurance companies to disburse more than $4...

The post New Jersey Insurance Agent, Parents Charged In Fraud appeared first on InsuranceNewsNet.

Author: user
Posted: April 14, 2017, 8:17 am

The mother of Yeardley Love, the University of Virginia lacrosse player who was slain in 2010, is appealing a Maryland judge's decision not to require an insurance company to indemnify George Huguely V in his upcoming wrongful-death suit. Filed Monday, Love's appeal of that decision came on the same day that Chasanow ordered a settlement conference in a...

The post Huguely Insurance Decision Appealed appeared first on InsuranceNewsNet.

Author: user
Posted: April 13, 2017, 8:03 pm

--Application activity for individually underwritten life insurance was off -6.0% in March— one the steepest monthly declines of recent record, according to the MIB Life Index. Mirroring the composite Index, U.S. life insurance application activity was off sharply across all three age groups. Age Group Trend Summary: In the first quarter of 2015, U.S....

The post U.S. Life Insurance Activity Off 4.5% In 1Q appeared first on InsuranceNewsNet.

Author: user
Posted: April 13, 2017, 5:00 pm

Lincoln Financial Group will raise prices Monday on new sales of MoneyGuard II, the company’s popular linked-benefit product. To qualify for current pricing, agents need to respond by 6 p.m. today.

The post Lincoln Hikes MoneyGuard II Pricing by 10%, Puts Agents on Alert appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: April 13, 2017, 1:49 pm