U.S. single premium buy-out sales totaled $5 billion in the second quarter, up 119% from second quarter 2020, according to the Secure Retirement Institute.
This report compiled by InsuranceNewsNet staff.
Staff Reports
The Securities and Exchange Commission announced that App Annie Inc., a leading alternative data provider for the mobile app industry, and its co-founder and former CEO and Chairman Bertrand Schmitt, have agreed to settle securities fraud charges.
Additional felony charges have been filed against Robert Andrew Lotter, 64, of Newport Beach, Calif., and Charles Albert Major, 72, of Irvine, Calif., who were arrested in November after allegedly defrauding their clients with high-risk investments.
The Michigan Department of Insurance and Financial Services (DIFS) has ordered the websites of four fake banks and credit unions to be taken down.
Former insurance agent Steven Gordon, 67, of Camarillo, Calif., was arraigned last week on 21 felony counts of grand theft, forgery, identity theft, and credit card fraud after allegedly stealing more than $1 million from three former clients.
Jackson is now an independent company, and its stock is expected to commence “regular way” trading under the ticker symbol “JXN” on the New York Stock Exchange on Sept. 20.
California Insurance Agent Facing 5 Felony Counts Of Insurance Fraud
A California businessman faces five felony counts of insurance fraud after a state Department of Insurance investigation revealed he allegedly underreported wages by over $2.5 million.
Foresters Financial today announced the launch of Foresters Go, a wellness platform that integrates wearable app-enabled technology and behavioral science to inspire and reward healthy lifestyles.
American International Group today announced that Peter Zaffino, president and CEO, will assume the additional role of chairman of the Board of Directors, effective Jan. 1, 2022.
The Wisconsin Office of the Commissioner of Insurance released August’s administrative actions on Tuesday.
Zurich North America has named Carl Sutter Head of Distribution for U.S. Middle Market.
Florida Man Pleads Guilty In $73M Scam To Defraud Medicare
A Florida man pleaded guilty yesterday in the Southern District of Florida for his role in a $73 million conspiracy to defraud Medicare by paying kickbacks to a telemedicine company to arrange for doctors to authorize medically unnecessary genetic testing.
The SEC announced Wednesday that it has filed an action against BitConnect, an online crypto lending platform, its founder Satish Kumbhani, and its top U.S. promoter and his affiliated company, alleging that they defrauded retail investors out of $2 billion.
Lorie Bevins, of Plainwell, was arraigned on August 26 in 57th District Court on four counts of submitting false health insurance claims.
Life Insurance Premium Up 21% In The Second Quarter, LIMRA Reports
In the first six months of 2021, the total number of policies sold increased 8%, compared with prior year results. This is the highest policy sales growth recorded since 1983, according to LIMRA’s recent survey.
Pacific Life Insurance Company announced today that Darryl Button has been named CEO-Elect and will become president and CEO of Pacific Life, succeeding chairman, president and CEO Jim Morris, on April 1, 2022, upon Mr. Morris’ retirement.
A Michigan producer issued fraudulent Farm Bureau insurance policies, regulators said Monday in a final cease-and-desist order.
A pair of Iowa men were charged recently with trying to defraud insurers.
The survey allows insurers to report on climate-related risks and opportunities that provide the Department with additional information to evaluate insurance company risks and activities.
CareFirst BlueCross BlueShield (CareFirst), a not-for-profit and the largest healthcare company in the mid-Atlantic region, announced it will make COVID-19 vaccinations a requirement for its workforce, Boards of Directors, and guests.
