AXA Announces Addition Of LTC Rider To Guaranteed Issue Program

—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…

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.

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

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

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

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…

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

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

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…

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.

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.

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…

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…

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.

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…

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 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.

What do you get for the coach who has it all? Term life insurance, of course.

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.

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.

SIOUX FALLS, S.D., May 15, 2017 (GLOBE NEWSWIRE) — Former Midland National® Life Insurance Company President and Chief Executive Officer…

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.

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…

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.

Braintree, MA. (May 10, 2017) — U.S. individually underwritten life insurance activity showed positive trends this April after three consecutive…

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…

_ 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.

–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 Chinese insurer that bought New York City’s Waldorf Astoria Hotel is fighting an accusation by China’s leading business magazine that it lied about its finances. The report by Caixin follows a series of foreign acquisitions by Anbang Insurance Group that raised questions in the Chinese business press about how it was paying for its…

Voya Financial credits new products, expanded distribution and higher agent productivity for strong first-quarter numbers.

The launch is part of a new strategy to refine and grow Foresters product portfolio in the U.S. over the next decade. “At Foresters Financial, we believe in enriching lives and building strong communities, and our clients and members share this passion for giving back,” said Knut Olson, President, North American Life Insurance and Annuity at Foresters Financial.

_ American Equity Investment Life Holding Co. on Wednesday reported first-quarter net income of $53.9 million, after reporting a loss in the same period a year earlier. On a per-share basis, the West Des Moines, Iowa- based company said it had profit of 60 cents. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 58…

–Voya Financial, Inc. today announced financial results for the first quarter of 2017.. 1 Q 2017 net loss available to common shareholders of $0.75 per diluted share 1, which reflects: A loss of $1.31 per diluted share, after-tax 2, in the Closed Block Variable Annuity segment- the CBVA segment, which is in run-off and not included in operating earnings, is supported…

_ Genworth Financial Inc. on Tuesday reported first-quarter net income of $155 million. On a per-share basis, the Richmond, Virginia- based company said it had net income of 31 cents. Keywords: Genworth Financial, Earnings Report.

WINDSOR, Conn., PRNewswire/ — A new consumer survey by Voya Financial’s Annuities and Individual Life businesses revealed that many Americans…

Pilot programs for agent retention appear to be working at CNO Financial. The results show up on the company’s recent bottom line.

Earnings for Erie-based Erie Indemnity Co. grew 4.3 percent in the first quarter of 2017 to $47.9 million. Revenue from management fees increased 6.7 percent to $24.6 million while commissions paid out during the quarter were up by $11.8 million compared to the same period in 2016.. The company’s investment income, calculated before taxes, for the first…

American consumers expect the life insurance industry to remain innovative and continue to meet their needs and preferences, according to…

_ CNA Financial Corp. on Monday reported first-quarter profit of $260 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share. CNA Financial shares have climbed 9 percent since the beginning of the year.

But it was the “agent story” at the company’s Liberty National subsidiary that caught the attention of the Wall Street number crunchers.

Shelton, CT, April, 2017 – Barnum Financial Group advisor Michael Lynch has been named 2016 Financial Planner of the Year…

–Kansas City Life Insurance Company recorded net income of $5.2 million or $0.53 per share in the first quarter of 2017, an increase of $0.9 million or $0.09 per share relative to the first quarter of 2016. Kansas City Life Insurance Company was established in 1895 and is based in Kansas City, Missouri. SOURCE Kansas City Life Insurance Company.

John Hogan, 77, of Swissvale, entered his pleas to five counts of mail fraud in the scheme run out of his Hogan& Associates business. Hogan promised they’d get at least a 10 percent return, but he instead used the money to prop up 25 homes and investment properties he owned across the country, including in Pennsylvania, Arizona, Florida and Hawaii, authorities said.

—A Pittsburgh- area insurance agent is set to plead guilty to mail fraud in a promissory note scam that federal prosecutors say cost investors $8.2 million since 2002.. John Hogan was a licensed insurance agent in Swissvale, but also claimed to be a financial planner though he wasn’t licensed to sell investment products. Prosecutors say he sold whole life…

Unum Group today reported net income of $229.9 million for the first quarter of 2017, compared to net income of $210.6 million for the first quarter of 2016.. Net income includes net after-tax realized investment gains and losses on the Company’ s investment portfolio and also, in the first quarter of 2017, a loss from a guaranty fund assessment related to an…

The insurer said in a court filing that the case should be halted pending a government report requested by President Donald Trump. Trump last week asked federal regulators to review the decision by the Financial Stability Oversight Council. The government then appealed to the U.S. Court of Appeals for the District of Columbia, and a ruling was expected in the…

–The Board of Directors of Kansas City Life Insurance Company declared a quarterly dividend of $0.27 per share on April 24, 2017. Kansas City Life Insurance Company was established in 1895 and is based in Kansas City, Missouri. SOURCE Kansas City Life Insurance Company.

_ Ameriprise Financial Services Inc. on Monday reported first-quarter profit of $403 million. On a per-share basis, the Minneapolis- based company said it had net income of $2.52. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.52 per share.

The American Council of Life Insurers issued the following statement by President and CEO Dirk Kempthorne on the Labor Department’s fiduciary regulation:. “In comments submitted to the Department of Labor, the American Council of Life Insurers calls on the department to revoke and replace its fiduciary regulation. “The Labor Department needs to return to the…

NEW YORK–(BUSINESS WIRE)–New York Life Insurance Company today announced outstanding financial results for 2016, setting company records in life insurance…

TRENTON – Attorney General Christopher S. Porrino and the Office of the Insurance Fraud Prosecutor (“OIFP”) announced that a Monmouth…