Life Insurance News

Pan-American Life Insurance Group in New Orleans topped $1 billion in revenue and total premiums for the first time during 2016.. Premiums for its four business units were international life insurance, $265 million; U.S. life, $237 million, international group insurance, $326 million; and U.S. group, $237 million. “Our sustained top and bottom line growth…

Allianz tells analysts it will continue to focus on fixed indexed annuity sales in the U.S. in the face of declining variable annuity sales.

CHICAGO—Mergers and acquisitions of insurance agencies last year were the second-highest ever in 2016, according to OPTIS Partners’ annual report. …

Insurance companies hope they are at the dawn of an ideal scenario: a period of slowly rising interest rates boosted by a robust equity market.

The Department of Labor’s fiduciary rule is virtually certain to survive in some form, our Kim O’Brien says. How do you cope with this new regulation and build your business?

Yet many people are using it incorrectly and don’ t understand the limitations of Monte Carlo simulations. Monte Carlo simulations are essentially experiments. Monte Carlo gives us the answer.

Bankers Life will remain focused on developing agents who have some experience but who harbor ambitions of broadening their horizons by becoming financial advisors, a company executive said.

LIMRA predicts nearly a third of Americans will have purchased their life insurance directly by 2022.

A delayed fiduciary rule will have little or no impact on the middle market business segments served by CNO Financial Group, a company executive said.

Feb. 08– BOISE– Kathy Peterson has kept a near-constant vigil this session in the Capitol rotunda. For years, Peterson, of Meridian, has been pushing to get a bill passed requiring life insurance companies to make an attempt to contact customers by certified mail before canceling a policy for non-payment. C.L. “Butch” Otter’s chief of staff, and that he said House…

_ Genworth Financial Inc. on Tuesday reported a loss of $122 million in its fourth quarter. On a per-share basis, the Richmond, Virginia- based company said it had a loss of 25 cents. For the year, the company reported that its loss narrowed to $277 million, or 56 cents per share.

MetLife reports depressed 4Q earnings, but remains on track to spin off Brighthouse Financial, its huge U.S. retail life and annuity distributor, in the first half of 2017.

_ Fidelity& Guaranty Life on Monday reported fiscal first-quarter net income of $108 million. On a per-share basis, the Des Moines, Iowa- based company said it had profit of $1.85. Keywords: Fidelity& Guaranty Life, Earnings Report.

The Florida Office of Insurance Regulation, Florida Department of Financial Services, and the Florida Office of the Attorney General today announced that a $1.5 million life claim settlement agreement has been reached with subsidiaries of the Ameriprise Group, RiverSource Life Insurance Company and RiverSource Life Insurance Company of New York.

Thousands of financial and insurance services businesses may decide against advising consumers about the safety and protection of qualified annuities if the DOL rule is implemented as it is written. Our Kim O’Brien talks about the biggest problems.

MetLife, Inc. today announced the following results for the fourth quarter and full year 2016:. On a GAAP basis, MetLife reported a fourth quarter 2016 net loss of $2.1 billion, compared to net income of $785 million in the fourth quarter of 2015. On a per share basis, the net loss was $1.94, compared to net income of $0.70 per share in the prioryear period.

Feb. 01– Jose Lantigua, the Jacksonville businessman who faked his death in Venezuela to escape money problems, was sentenced Wednesday to 14 years in prison for crimes ranging from bank fraud to identity theft. His estranged wife, Daphne Simpson, was placed on probation for five years for conspiring to help convince the world the former owner of Circle K…

–The Allstate Corporation today reported financial results for the fourth quarter and full year of 2016. “Allstate’s ability to execute operational improvements in a challenging environment delivered excellent results in 2016,” said Tom Wilson, chairman and chief executive officer of The Allstate Corporation. We simultaneously broadened the company’s…