Life Insurance News

Companies offering commercial, health and life insurance were posting ever higher pre-tax operating gains, but not those in the auto and home insurance segments, said Robert Passmore of the American Property Casualty Insurance Association. Data he presented to a special committee of the House of Representatives showed industry gains in that "personal"…

The following information was released by the office of the Governor of Connecticut:. Connecticut has one of the largest insurance industries of any state in the nation, and Commissioner Mais has actively worked to achieve the crucial balance necessary to ensure that consumers are protected and have access to affordable and reliable insurance coverage,…

Nov. 21— HARTFORD— Insurance Commissioner Andrew N. Mais will be retiring Nov. 28 after nearly seven years as the state's top insurance regulator, the governor's office announced Friday. Ned Lamont is nominating Josh Hershman, CEO of the Immigrant Life Insurance Company of America, a Connecticut- domiciled and wholly owned subsidiary of IDT Corp., to replace Mais,…

AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of NongHyup Property and Casualty Insurance Company Limited. The ratings also reflect the implicit and explicit support the company receives from its ultimate parent, National Agricultural Cooperative Federation. Particularly, the company’ s financial…

Colombia, which stands out as one of the more developed insurance markets in Latin America, has seen insurance market growth driven predominantly by the life segment, suggested a shift in dynamics, according to a new AM Best report. The non-life insurance segment represents a larger share of market participants in Colombia and has benefited in recent years…

The following information was released by the Federal Reserve Board:. Financial stability is a focal point of my attention at the Board of Governors, since I serve as chair of the Board's Committee on Financial Stability. My remarks will center on three areas of vulnerabilities: asset valuations; the structural shift in lending to private companies, away from…

A new Securian Financial study reveals that Gen Z and younger millennials recognize the importance of life and supplemental health insurance but still harbor key misconceptions that prevent many of them from purchasing it. “Life insurance and supplemental health insurance provide the foundation for long-term financial confidence,” said Matt Bauler,…

New York Life, the nation’ s largest 1 mutual life insurer, today announced that the company will pay an estimated $2.78 billion in dividends to eligible participating policy owners in 2026— the largest dividend payout in New York Life’ s 180- year history and its 172nd consecutive annual dividend. “Dividends are a tangible expression of our mutuality,” said Craig…

The ratings also reflect the parental support CTBC Insurance receives from its intermediate parent, Taiwan Life Insurance Company Limited, as well as its ultimate parent, CTBC Financial Holding Co., Ltd, in terms of capital, business development and risk management. The outlook revision to positive from stable reflects AM Best’ s expectation that CTBC…

Aspida Financial Services, a life insurance and annuity group, will begin a phased expansion of their global headquarters, adding 1,000 new jobs in Durham County over the next several years. "Aspida's decision to scale its headquarters in Durham reflects the strength of our state's talent pipeline and the collaborative spirit of our economic development…

AM Best has affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Ratings of“ aa+” of the life/health subsidiaries of Delphi Financial Group, Inc.: Reliance Standard Life Insurance Company and First Reliance Standard Life Insurance Company. AM Best also has affirmed the FSR of A++ and the Long-Term ICRs of“ aa+” of DFG’ s property/casualty…

Concurrently, AM Best has affirmed the FSR of A and the Long-Term ICR of“ a+” of Ameriprise Captive Insurance Company, a property/casualty subsidiary of Ameriprise. In addition, AM Best has affirmed the Long-Term ICR of“ a-” and the existing Long-Term Issue Credit Ratings of Ameriprise. On an enterprise level, the L/H group has taken various steps to de-risk the…

More than a dozen people filled the boardroom at Thursday night's Cobb Board of Education meeting, carrying signs calling for Vice Chair John Cristadoro to resign and for an audit of the district. Last month, Cristadoro settled a March 2024 lawsuit filed against him and his marketing and advertising company, Alliance Activation, agreeing to pay $225,000, plus…

AM Best has downgraded the Financial Strength Rating to A+ from A++ and the Long-Term Issuer Credit Ratings to“ aa” from“ aa+” of State Farm Mutual Automobile Insurance Company and its affiliates, State Farm Fire and Casualty Company and State Farm County Mutual Insurance Company of Texas, collectively referred to as State Farm Group. AM Best has also taken ratings…

MARIETTA— Cobb Board of Education Chair David Chastain announced Thursday the school board had "no authority" to take action against Vice Chair John Cristadoro, who recently settled a lawsuit accusing him of misappropriating business funds in 2023.. "This Board of Education does not exceed the authority we have been given by exploring the personal lives of our…

A study by the Society of Actuaries  Research Institute found that fentanyl and synthetic opioids continue to be a leading cause of overdose deaths in the U.S., despite drug-related mortality decreasing in 2023 and provisional data suggesting a further decrease in 2024.