Insurers Victorious (So Far) On Pair Of COI Lawsuits

Driven by strong growth in whole life and term products, total individual life insurance new annualized premium increased 2% and the number of policies sold jumped 7% in the third quarter, according to LIMRA’s Third Quarter 2020 U.S. Individual Life Insurance Sales Survey.

Insurance companies are creating more products that grow with their customers’ finances and needs. Term life insurance has proven itself to be one of these versatile products.

Federal authorities have charged a fourth person in connection with the alleged murder-for-hire plot that, in March 2016, claimed the life of Andre Montgomery, grandson of “Sweetie Pie's” St. Louis soul food restaurant owner Robbie Montgomery, of whom the five-season OWN network reality show was centered around. According to a Nov. 12 news release by the U.S….

Panelists agreed that consolidation through mergers and acquisitions will pick up as carriers and others along the distribution chain seek efficiencies through scale. The life and annuity business is likely to follow the path of the property & casualty industry in terms of M&A activity, panelists agreed.

After a pandemic-driven pullback in mergers and acquisitions activity in the first half of 2020, acquisitions and dispositions have come…

Insurance and financial advisors are challenged to find the right partners and brokerage general agencies to work with, said Brian Haney, founder and vice president of The Haney Company in Silver Spring, Md.

Northwestern Mutual Future Ventures will dedicate $20 million to investing in companies founded by Black entrepreneurs, the company announced in a news release Wednesday. “Innovative thinking is required to drive breakthrough solutions to close the racial equity gap, and by supporting Black founders through Northwestern Mutual Future Ventures and the…

Scott Allen Renninger knew he would be under scrutiny “once it all goes down” during a Nov. 11 conversation, police said. Renninger, in the conversation, said he accepted the scrutiny and was prepared for it. He also told a confidential source he knew the existence of an unknown amount of life insurance on his wife.

RADNOR, PA, November 16, 2020 – In a time when nearly half of consumers surveyed say they would be more…

Richard Krassen, who turns 80 on Nov. 17, is a semiretired life insurance salesman, and you have never heard of him. And when he wrote his life story, the story of an unremarkable middle-class Jewish existence in Northeast Philadelphia, he didn’t care if nobody wanted to read it.

For financial adviser Dean Vagnozzi, it’s been a tough year. Since 2016, he had urged customers to invest in funds linked to a Philadelphia firm known as Par Funding. The U.S. Securities and Exchange Commission says Vagnozzi and Par Funding misled investors about Par’s financial soundness and the criminal past of a founder.

Pooled employer plans will give employers, especially small unrelated employers, a way of offering their employees a workplace retirement savings option with reduced burdens and cost.

A fourth person faces charges in connection to the fatal shooting of Andre Montgomery Jr., the grandson of the owner of Sweetie Pie’s restaurants in the St. Louis area.

After months of economic heartache from the coronavirus, it is encouraging to learn of some good news about Americans’ retirement…

The American Council of Life Insurers issued the following news release:. The National Institute for Lobbying& Ethics has announced the recipients of its “2020 Top Lobbyist Award” which included ACLI Executive Vice President, Government Relations, Joyce Meyer. “Our list includes professionals that saw significant legislative success in 2020, have been…

The plan is to sell 19.9% of the life/retirement business, either through an initial public offering, commonly called an IPO, or a private sale. It “will not consider” selling more than that, said Zaffino, who will become CEO on March 1, 2021, and remain president of AIG.

Lincoln Financial expects “to bottom out” during the fourth quarter, CEO Dennis Glass said of life and annuity sales, and the company is preparing to roar back in 2021 with eight new products lined up. Glass spoke today during a conference call with analysts to review third-quarter earnings.

_ MetLife Inc. on Wednesday reported third-quarter earnings of $706 million. On a per-share basis, the New York- based company said it had profit of 69 cents. MetLife shares have declined 23% since the beginning of the year, while the Standard& Poor's 500 index has climbed almost 7%.

Prudential Financial is discontinuing all sales of variable annuities with guaranteed living benefits, eliminating its Highest Daily Income and Prudential Defined Income annuity products. The move is needed as the insurer recalibrates amid economic uncertainty and ultra-low interest rates, CEO Charlie Lowry said.

Nov. 3– Tracey Cathey McNeill, 50, of Raeford, surrendered Thursday to law enforcement officers on charges of wire and mail fraud, according to a news release from the U.S. Attorney's Office for the Eastern District of North Carolina. The statement says McNeill devised a scheme to defraud the U.S. Department of Veterans Affairs and the U.S. Office of Personnel…

Policyowners with Northwestern Mutual will receive an estimated $6.2 billion through the 2021 dividend payout, the company announced in a news release Thursday. Northwestern Mutual has paid a dividend to its policyholders every year since 1872.. “This record dividend payout is a sign of our commitment to our policyowners,” John E. Schlifske, chairman,…

-Today, John Hancock announced the expansion of its Apple Watch program to include the recently announced Apple Watch Series 6 and Apple Watch SE for life insurance customers participating in the John Hancock Vitality Program, which rewards customers for the everyday things they do to live longer, healthier lives. Beginning this fall, John Hancock Vitality…

–Unum Group today reported net income of $231.1 million for the third quarter of 2020, compared to net income of $242.0 million for the third quarter of 2019.. Included in net income for the third quarter of 2020 are after-tax costs related to an organizational design update of $18.6 million, as well as a net after-tax realized investment gain on the Company’s…

Principal Financial Group ® announced results for third quarter 2020.. Net income per diluted share of $0.85 for third quarter 2020 compared to $0.98 in the prior year quarter. As noted in Exhibit 1, third quarter 2020 net income reflected the results of the significant variances 1, including the annual actuarial assumption review, which decreased net income…

The pandemic's effect on seniors has brought renewed attention to long-term care insurance- and aging at home. Almost any policy sold now will have a pool of benefits that help pay for home care, a nursing home, assisted care, a memory unit or something similar, said Barbara Franklin, founder of Franklin& Associates, long-term care insurance brokers.

Analysts are eager to see the bottom lines as many insurers are starting to show cracks in the economic foundation — in the form of significant employee layoffs. Globe Life was one of the first life insurance companies to report third-quarter data today.

The United States Army has ruled that Spc. Texas' Fort Hood, where Guillen was stationed, announced the determination of her death in a statement on Tuesday, saying it was made following an investigation. Her death sparked outrage and prompted the Army last month to expand its investigation into her killing to include the chain-of-command at Fort Hood.

Greg E. Lindberg was in custody on Tuesday at a minimum-security prison in Montgomery, Alabama, according to Scott Taylor, a spokesman for the Federal Bureau of Prisons. Lindberg had given more than $5 million to state and federal candidates and committees since 2016, favoring Republicans but also giving to Democrats. District Judge Max Cogburn on Monday…

Like many aspects of the insurance industry, mergers-and-acquisitions activity is not at all where analysts expected coming into 2020 — thank COVID-19 for that. But M&A will return robustly, analysts predict. In fact, it will help shape how the industry recovers from the pandemic and reinvents itself.

The plaintiffs claim they were misled about the costs of an IUL policy and how it works. The case has broad implications for the industry and the controversial Actuarial Guideline 49 put forth by the National Association of Insurance Commissioners, an industry attorney said.

Oct. 18– When Christina McKinney took on a career in the insurance sales business, she not only found a job she loved, but she carried on a tradition that has now been in her family for four generations. She said she grew up in Shelby and her dad managed an agency in town. McKinney has run a successful business, CRM Insurance Services, in Forest City since 2006 and just…

PARK RIDGE, Ill. (Oct. 16, 2020) — In the midst of a global pandemic and economic crisis, MDRT has made…

Strengthening its position around the world, LL Global– the parent company of LIMRA, LOMA, and Secure Retirement Institute (R)– today announced that Paul Arrowsmith will lead its international operations. Based in the Asia-Pacific region, Arrowsmith will serve as president of International, leading the organization's programs by helping member companies…

Oct. 14– DURHAM– It was once the tallest building in Durham and housed the nation's oldest Black-owned life insurance firm, dedicated to serving the insurance needs of the state's Black community. Recently renovated and renamed the Tower at Mutual Plaza, it sold last week to Turnbridge Equities for $37.2 million, county records show. Mutual insurance company, as…

Oct. 13– EAU CLAIRE– An Eau Claire man will spend four years on probation for emptying a 13- year-old girl's bank account as a guardian and exposing his three children to methamphetamine. Vang cannot have contact with Associated Bank, the Eau Claire County Clerk of Juvenile Court and Register in Probate, and his children– unless approved by the Eau Claire County…

Advisors are spending less time meeting with clients face to face, but advisors also are helping clients with COVID-19 concerns,…

Her statement listed her $8 million jet, as well as a Porsche, a Bentley, a Mercedes, and a Chevy Tahoe, worth a total of $790,000. Mostly, she reported owning a raft of businesses– most notably Par Funding, the small-business lender based in Old City that is the subject of a sweeping SEC fraud case. McElhone, 41, was previously known about town as the owner of Lacquer…

The National Association of Insurance and Financial Advisors’ New York State chapter board made an unprecedented move to secede from NAIFA and affiliate with a newly created industry association, Finseca.

In South Korea, China, France and India the top reason for owning life insurance is to supplement their retirement income, whereas in Hong Kong, Japan, Malaysia, Singapore, Taiwan and Thailand, consumers are far more concerned about replacing the income of a wage earner.

LL Global, the parent company for LIMRA, LOMA and Secure Retirement Institute, today named Mark Poklar to lead its insurance research unit. He will report to Alison Salka, senior vice president and head of LIMRA Research.

CHATTANOOGA, Tenn. (Sept. 24, 2020) – The coronavirus pandemic gives millions of Americans—especially younger adults, those with children at home,…

CINCINNATI – Sept. 25, 2020 – Western & Southern Financial Group has named John H. Bultema III president and chief…

NEW YORK, N.Y., Sept. 23, 2020 – The Guardian Life Insurance Company of America’s Board of Directors announced today that…

Clearwater, Fla. – September 23, 2020 ‒ AmeriLife Group has acquired a majority interest in The Achievement Group. TAG is…