By a News Reporter-Staff News Editor at Insurance Weekly News– Prudential Financial, Inc. announced that its Board of Directors has appointed Charles Lowrey as the company’s next CEO and member of the Board, effective December 1, 2018. Lowrey, who currently serves as executive vice president and chief operating officer, International Businesses of…
Read moreThe New York Department of Financial Services passed tough cybersecurity rules for financial services last year, and more states are working on their own versions.
Indexed life sales shot up during the second quarter to a near-record $552.7 million. That figure represents a more than 13.6 percent over the prior quarter, and more than 13.9 percent compared to the same period last year. Only the fourth-quarter 2017 showed higher sales, according to Wink data.
Boosting the numbers of advisors and improving the productivity of those already serving the group retirement market is a big priority for AXA Equitable, the company says.
John Hancock is transitioning all of the company’s life insurance policies to policyholders who commit to making healthy choices. The interactive policies will track fitness and health data through a variety of smartphones and wearable devices such as the Fitbit.
Frederick, Maryland, Sept. 19, 2018 – Legal & General America (LGA), today announced the appointment of Mark Holweger as President…
HOUSTON – September 18, 2018 – American International Group, Inc. (NYSE: AIG) has announced newly reduced rates for Select-a-Term, the…
NEW YORK – Life insurance is Social Security’s mirror image in the private sector, an auxiliary safety net that has…
Braintree, MA — U.S. life insurance application activity held its own in the dog days of summer, flat at -0.1%…
Nestle today announced that it agreed to sell the Gerber Life Insurance Company, to Western& Southern Financial G roup for USD 1.55 billion in cash. The transaction does not include Nestle’s Gerber Products business, a household brand in baby food and baby care, which Nestle will continue to develop. Nestle CEO Mark Schneider said: “We are delighted to have found an…
Affluent households— those with more than $100,000 income— grew by 30 percent between 2012 and 2016, say researchers from Conning. The study also includes Conning’s estimates of the opportunities for insurers through an analysis of financial needs and resources for the U.S. consumer.
A new Deloitte survey finds insurers well behind the ball when it comes to meeting consumers’ needs digitally. Consumers are self-educating about life insurance online and carriers and agents need to respond better to that market if they want to increase life insurance ownership, the survey concludes.
Arlington, Va. – Sept. 12, 2018 – The nonprofit Life Happens is pleased to announce the promotion of Faisa Stafford…
The New York Department of Financial Services passed tough cybersecurity rules for financial services last year, and more states are working on their own versions.
This year, the campaign’ s theme is“ A Journey to Financial Fitness,” and Danica Patrick, professional athlete and entrepreneur, is the spokesperson for Life Insurance Awareness Month. “Foresters is proud to support the annual LIAM campaign so that everyone can learn more about how life insurance can help protect them and their family,” said Knut Olson, President,…
A new Pacific Life communication tool will alert advisors to customer account activity – new contract issuance, additional investments, distributions, etc. – within 15 minutes via text or email. The service will improve customer relations and put a dent in fraud, execs say.
After three consecutive quarters of declines, individual life insurance sales growth rebounded in the second quarter of 2018.
Indexed life sales shot up during the second quarter to a near-record $552.7 million. That figure represents a more than 13.6 percent over the prior quarter, and more than 13.9 percent compared to the same period last year. Only the fourth-quarter 2017 showed higher sales, according to Wink data.
–Ohio National Financial Services announced today that its Board of Directors has appointed Christopher A. Carlson President and Chief Operating Officer, effective immediately.. In 2010, he was appointed Executive Vice President and Chief Investment Officer and in January 2016 was promoted to Vice Chairman, Strategic Businesses. He has also held a role in…
A National Association of Insurance Commissioners working group wants to “enhance consumer understanding” with a proposed two-page summary to accompany life insurance illustrations. The group is making slow progress on the proposal, with a few issues remaining to work out.
Boosting the numbers of advisors and improving the productivity of those already serving the group retirement market is a big priority for AXA Equitable, the company says.
There are a huge number of “unscheduled” loans that go mostly unnoticed until they become a threat to the policy or an unwelcome tax problem for the insured. These present a clear opportunity not only to help clients, but also to create new commissionable sales.
United of Omaha, a Mutual of Omaha company, has introduced a new product to help meet customers’ long-term care planning needs. Since 1987, traditional long-term care insurance has been- and continues to be- a core product for Mutual of Omaha.
Jackson National Life Insurance Company ® generated a record $1.4 billion in IFRS pre-tax operating income during the first half of 2018, an increase of 0.8 percent over the first half of 2017. Jackson, an indirect wholly owned subsidiary of the United Kingdom’ s Prudential plc, recorded sales and deposits of $11.2 billion in the first half of the year, and…
Braintree, MA. (August 8, 2018) — U.S. life insurance application activity grew slightly in June up 0.7% year-over-year, according to…
Insurers report ups and downs in second-quarter earnings reports, with Brighthouse Financial reporting a loss. Meanwhile, long-term care policies continue to create plenty of headaches for insurers such as CNO Financial and Prudential.
New York and California insurance officials signal a steadfast willingness to fight for life insurance to be included in any NAIC annuity best-interest rule.
Universal life products are hot and insurers are wasting no time tweaking their product offerings to take advantage of a fast-selling segment. First-quarter sales of indexed universal life rose 12 percent to $486 million compared to the year-ago period.
MetLife and Genworth had different challenges to overcome in the second quarter. Metlife dumped its remaining stake in Brighthouse Financial for a loss of $212 million, which pushed down earnings.
As Announced On June 9, 2018, The Committee On Foreign Investment In The United States Completed Its Review Of The Proposed Transaction Between Genworth And China Oceanwide Holdings Group Co., Ltd And Concluded That There Are No Unresolved National Security Concerns U.S. Mortgage Insurance Adjusted Operating Income Of $137 Million Which Included A…
The life insurance industry has shown relatively steady sales over the past decade, but the number of policies and resulting market penetration are in decline, according to a new study by Conning.
For a client in need of life insurance coverage, permanent life insurance can help address several crucial concerns by bridging the gap between their retirement savings and their retirement income goals.
A federal appeals court upheld a ruling that the illustrations of the policy charges and interest rates were not deceptive, but left open the question of whether the challenged practices were unlawful or unfair.
Several big-name insurers recently completed, or broke ground, on new construction projects for splashy new office spaces. While life insurance sales remain flat, the infrastructure investment reflects executive-level confidence that the economy is bright for insurance products overall.
Washington, D.C. – Citing both continued issues of inequality in the insurance industry and the potential to create unprecedented opportunities…
BOSTON – Kanawha Insurance Company has agreed to pay $88,000, most of which will go directly to affected Massachusetts consumers,…
Why the life insurance industry must provide senior policyholders with information on exploring alternatives to surrendering or lapsing a policy they no longer need or want. Sixty-seven percent of consumers are interested in more transparent life insurance buying options.
HOUSTON – New research announced by American International Group, Inc. (NYSE: AIG) reveals that consumers who do not have life…
New York finalized its best-interest standard for annuity and life insurance sales this week. The rules have industry officials concerned that a ‘patchwork’ of different rules across different states could make cross-state sales a nightmare of paperwork.
Commentary By Erica Davis There are several semi-famous authors and media personalities who push their financial advice to the masses,…
Commentary By John Hutchinson I’m often asked the question, “Who is the ideal candidate for indexed universal life and why?”…
PARK RIDGE, Ill. — Human trafficking and slavery is a global issue, with an estimated 20 – 40 million people…
Why private placement programs have become a favorite strategy among ultra-wealthy investors.
Final expense life insurance new annualized premium increased 4 percent in 2017, compared with 2016 results, according to a new…
PARK RIDGE, Ill. (June 27, 2018) — More than 15,000 members from 53 countries attended the MDRT Annual Meeting this…
While some companies are moving away from annuities, Prudential is redoubling its efforts. That means new products and new campaigns to educate advisors and consumers on what annuities can do for lifetime income, a company executive explained.
Futurity First Insurance Group – an independent, nationwide insurance distribution organization that specializes in retirement income and insurance protection solutions with $222 million in client assets – has joined Securities America, an independent advisory and brokerage firm.
