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Indexed universal life rate projections become slightly less rosy, with about a half percentage point drop on average, according to a Milliman study.

The post IUL Rate Projections Drop Slightly In Illustrations appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: July 21, 2017, 4:16 pm

New York State regulators seek information from insurers to determine whether they are using external data sources to underwrite life insurance coverage.

The post NY Regulators Call on Insurers to Reveal Data Sources appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: July 18, 2017, 6:40 pm

The proposed acquisition of Henrico County- based Genworth Financial Inc. by a China- based company is facing a regulatory delay that is likely to push the deal past its planned completion date. Genworth, an insurance company with thousands of employees in Virginia, announced in October that it had agreed to be acquired for about $2.7 billion by China Oceanwide,...

The post Genworth’s Acquisition By China-Based Firm Faces Another Regulatory Delay appeared first on InsuranceNewsNet.

Author: user
Posted: July 14, 2017, 4:44 pm

Brighthouse Financial will eliminate surrender charges on a universal life (UL) insurance policy, a move that will give policyholders more flexibility.

The post Brighthouse Kills Surrender Charges on Revamped UL appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: July 12, 2017, 1:37 pm

NEW YORK& PHILADELPHIA---- MetLife, Inc. and Fortress Investment Group LLC today announced a definitive agreement for MetLife to acquire Logan Circle Partners, L.P., Fortress’ traditional fixed income asset management business, for approximately $250 million in cash. Following the anticipated separation of Brighthouse Financial next month and assuming the...

The post MetLife To Acquire Logan Circle Partners appeared first on InsuranceNewsNet.

Author: user
Posted: July 7, 2017, 8:05 pm

The New York Department of Financial Services is requiring more than 3,000 financial institutions to implement a formal cybersecurity policy to address the rising threat of cyberattacks.

The post Insurance Professionals Face N.Y. Cyber Requirements appeared first on InsuranceNewsNet.

Author: Juliette Fairley
Posted: July 5, 2017, 9:00 am

MetLife, Inc. today announced that its board of directors has approved the spin-off of Brighthouse Financial, subject to the U.S. Securities and Exchange Commission’ s declaration that the Brighthouse Financial, Inc. Registration Statement on Form 10 is effective. Following completion of the distribution, the price of shares of MetLife, Inc. common stock on...

The post MetLife Board Approves Spin-Off Of Brighthouse Financial appeared first on InsuranceNewsNet.

Author: user
Posted: June 29, 2017, 8:15 pm

The Global Insurance Accelerator, or GIA, is helping InsureTech start-ups get off the ground with seed capital, mentorship and exposure. GIA is funded by some of the best-known insurers located in the Des Moines area.

The post Des Moines Spurs Insurance Tech Start-Ups appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: June 29, 2017, 8:12 pm

Rick Scott signed legislation yesterday that contains a key consumer disclosure requirement to protect Florida consumers who are considering making changes to a life insurance policy.. The Florida state legislature passed HB 1077, a wide-ranging bill designed to combat insurer fraud in the state of Florida, on May 5, 2017, at the close of Florida’ s 2017...

The post Florida Governor Signs Bill Regarding Life Insurance Policy Changes appeared first on InsuranceNewsNet.

Author: user
Posted: June 27, 2017, 7:32 pm

A serious health condition need not be a barrier to obtaining life insurance coverage.

The post How Children With Diabetes Can Be Approved For Life Insurance appeared first on InsuranceNewsNet.

Author: user
Posted: June 23, 2017, 6:06 pm

The Department of Labor fiduciary rule has not had a major impact on annuity sales yet, say execs with a top Midwest insurer. The second phase of the rule, which takes effect Jan. 1, 2018, will likely be a different story, they add.

The post Insurers Report Minor Issues From DOL Rule appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: June 23, 2017, 1:45 pm

Financial advisor trade associations are racing to offer new training programs to expand their reach to life insurance professionals operating in foreign markets. In particular, Asia is an area of immense interest.

The post Financial Trade Groups Race to Tap Lucrative Asian Markets appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: June 22, 2017, 2:55 pm

Allianz earlier this year joined hands with Standard Chartered to sell general insurance via's the latter's branches and platforms in Asia. In China, Allianz is waiting for the relevant license and works together with Baidu and investment group Hillhouse Capital Group to sell insurance via the Internet. An insider said Allianz paid about USD 200 million to...

The post Allianz To Sell Insurance In China appeared first on InsuranceNewsNet.

Author: user
Posted: June 22, 2017, 10:36 am

AUSTIN, TEXAS (June 21, 2017)—A recent survey from insuranceQuotes.com finds that 37% of adults do not have life insurance. And...

The post 37% Of Adults Skip Life Insurance, Study Says appeared first on InsuranceNewsNet.

Author: user
Posted: June 21, 2017, 4:39 pm

AXA, a leader in providing financial security and retirement products, announced today that it is now offering its competitive Long-Term Care Services SM Rider 1 to its Guaranteed Issue Program, giving employers a way to offer the long-term care coverage their key executives want and need. AXA’ s Guaranteed Issue Program streamlines the process for obtaining...

The post AXA Announces Addition Of LTC Rider To Guaranteed Issue Program appeared first on InsuranceNewsNet.

Author: user
Posted: June 19, 2017, 3:27 pm

Financial planners say pressure from taxes and regulation are making them less likely to recommend life and annuity products. Can these products adapt and thrive beyond 2017?

The post Survey: A Tough Year for Insurance and Annuities appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: June 19, 2017, 12:38 pm

—The Chinese insurer that owns New York City's Waldorf Astoria Hotel said Wednesday its chairman was unable to perform his duties following a report he was detained by regulators amid accusations of possible financial misconduct. Anbang Insurance Group Ltd. Chairman Wu Xiaohui was "temporarily unable to perform his duties due to personal reasons," said a...

The post China Insurance Mogul Said Unable To Work, Reported Detained appeared first on InsuranceNewsNet.

Author: user
Posted: June 15, 2017, 10:40 am

Mass Mutual Life finished as the top seller of whole life insurance in the first quarter 2017 in a new report, repeating the top spot it held for all of 2016.

The post MassMutual Leads in Whole Life in 1Q 2017 appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: June 14, 2017, 5:17 pm

Highlights for universal life in the first quarter included Prudential ranking as the No. 1 insurer overall for universal life sales, with a market share of 8.4 percent.

The post UL Market Leaders in 1Q 2017 appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: June 13, 2017, 5:31 pm

First quarter indexed life sales rose 3.4 percent to $446.5 million compared with the year-ago period, according to Wink’s Sales & Market Report. However, sales dropped 16.4 percent compared with the previous quarter. This is part of a cyclical trend that usually sees first quarter sales drop from fourth quarter sales

The post IUL Market in 1Q: The Top-10 Shuffle appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: June 13, 2017, 5:13 pm

The Trump Administration has stated repealing the estate tax is one of its highest priorities. In April 2017, LIMRA asked...

The post How Would Repealing The Estate Tax Affect Life Insurance Sales? appeared first on InsuranceNewsNet.

Author: user
Posted: June 13, 2017, 2:53 pm

HORSHAM, Pa. – June 9, 2017 –The Penn Mutual Life Insurance Company (Penn Mutual) is delighted to announce that chairman...

The post Penn Mutual CEO Receives Entrepreneur Of The Year Award appeared first on InsuranceNewsNet.

Author: user
Posted: June 12, 2017, 7:37 pm

Indexed life insurance sales were greater than they have ever been in any first quarter, since their introduction 20 years ago, according to Sheryl J. Moore, president and CEO of Moore Market Intelligence and Wink, Inc.

The post Indexed Life Sales Set Record In 1Q appeared first on InsuranceNewsNet.

Author: user
Posted: June 12, 2017, 2:40 pm

Braintree, MA. (June 8, 2017) —U.S. individually underwritten life insurance activity remained sluggish in May with the MIB Life Index...

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

Author: user
Posted: June 9, 2017, 7:41 pm

June 09-- COLUMBIA, S.C.-- A Securities and Exchange Commission civil lawsuit that accused Lexington County businessman Ben Staples of setting up an unlawful scheme to reap profits from the deaths of terminally ill people has been settled. Staples, 66, still had to pay $58,049 plus $5,804 interest for acknowledging simple negligence in setting up his plan as well...

The post SEC Settles Death Benefit Case Against South Carolina Man appeared first on InsuranceNewsNet.

Author: user
Posted: June 9, 2017, 4:32 pm

NEW YORK, N.Y., June 7, 2017 – The Guardian Life Insurance Company of America® (Guardian), one of the nation’s largest...

The post Guardian Introduces EstateGuard Whole Life Insurance appeared first on InsuranceNewsNet.

Author: user
Posted: June 7, 2017, 7:16 pm

Individual life insurance new annualized premium increased five percent in first quarter 2017 compared to first quarter 2016, according to LIMRA’s First Quarter 2017 U.S. Individual Life Insurance Sales Survey.

The post Individual Life Insurance Premium Up In 1Q appeared first on InsuranceNewsNet.

Author: user
Posted: June 6, 2017, 6:01 pm

BRYN MAWR, Pa. and FALLS CHURCH, Va., June 2, 2017 /PRNewswire-USNewswire/ -- The American College of Financial Services and GAMA International announced today that...

The post The American College And GAMA International Launch New Educational Partnership appeared first on InsuranceNewsNet.

Author: user
Posted: June 5, 2017, 8:02 pm

This new tool will assist Mutual’ s Engagement Specialists in creating a personalized experience utilizing techniques from financial psychology theory to help increase plan participation and motivate people to save for retirement. Mutual of Omaha is a full-service, multi-line organization providing insurance, banking and financial products for...

The post Mutual Of Omaha Launches Website For Imagine Retirement Right appeared first on InsuranceNewsNet.

Author: user
Posted: June 1, 2017, 6:39 pm

A new NAIFA certification aimed at life and annuity agents to be unveiled next week has major potential to help agents penetrate Asian developing markets, analysts say.

The post Big Market for New NAIFA Life/Annuity Agent Cert appeared first on InsuranceNewsNet.

Author: Cyril Tuohy
Posted: May 31, 2017, 1:25 pm

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