The Wisconsin Office of the Commissioner of Insurance took several recent administrative actions. The actions are issued by OCI when…
This report compiled by InsuranceNewsNet staff.
Staff Reports
Fixed And Variable Annuity Sales Rise 6% In New 2Q Data
Sales of fixed and variable annuities were $60 billion in the second quarter of 2021, up 6% from first quarter 2021 sales of $56.7 billion, according to the Insured Retirement Institute.
VAs Power Total Annuity Sales To Near-Record Growth, LIMRA Reports
Total preliminary U.S. annuity sales were $62.2 billion in the third quarter, up 12% from third quarter 2020.
A joint investigation conducted by the Michigan Department of Insurance and Financial Services (DIFS) and the Ogemaw County Sheriff’s Office has led to insurance fraud and identity theft charges against 14 individuals for allegedly submitting nearly $3 million in false insurance claims.
Life Insurance Sales Strong Across Product Lines In 2Q, Wink Reports
Non-variable universal life sales for the second quarter were $779.2 million, up 19.9% when compared to the first quarter, Wink reports.
Second Quarter Deferred Annuity Sales Up 10-40%, Wink Reports
Total second quarter sales for all deferred annuities were $64.4 billion, up more than 10% compared to the previous quarter and an increase of 40.4% when compared to the second quarter 2020.
A Methuen, Mass. woman, who was the former business manager at a Lawrence, Mass. retirement home and nursing center, has pleaded guilty and been sentenced to a serve a year and a half in state prison in connection with stealing more than $530,000 from the facility and the estate of a deceased resident at the home.
Allianz Strikes $4B Reinsurance Deal With Resolution Re
The persistent low interest rate environment over the past few years prompted the deal, Allianz said in a news release.
In addition to the creation of the special enrollment period, health coverage access was also expanded in Michigan through tax subsidies offered under the American Rescue Plan (ARP).
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.
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.
