AM Best has affirmed the Financial Strength Rating of B++, the Long-Term Issuer Credit Rating of“ bbb” and the Vietnam National Scale Rating of aaa.VN of Bao Minh Insurance Corporation. The outlook of these Credit Ratings is stable. The ratings also factor in a neutral impact from the company’ s majority ownership by the State Capital Investment Corporation, which…
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Majesco, a global leader in cloud insurance technology, has once again been recognized as the top technology leader in the 2024 SPARK Matrix™ by QKS Group for both L&A and P&C Insurance Platforms, following the similar recognition in 2023. Majesco’s cloud-native platforms earned top scores across multiple parameters, reflecting its leadership and…
TCW Accelerates Growth in Alternative Credit Through Expanded Strategic Partnership With Nippon Life
The TCW Group, Inc., a leading global asset manager, and Nippon Life Insurance Company, one of the world’ s largest life insurance companies, today announced that Nippon Life intends to commit up to $3.25 billion in additional anchor capital to TCW alternative credit strategies and increase its minority ownership stake in TCW in the future.
AI in life and health: What to expect into 2025 and beyond
Here are seven top AI trends worth following.
AM Best has assigned a Financial Strength Rating of B++ and a Long-Term Issuer Credit Rating of“ bbb” to Atlanta Life Insurance Company. In January 2023, Atlanta Life Holdings acquired ALIC, the 100- plus year-old Georgia- domiciled insurance company, and made a capital contribution in conjunction with the acquisition. Furthermore, the company’ s balance sheet has…
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of“ a+” of the core Blue Cross Blue Shield- branded insurance subsidiaries of Elevance Health, Inc., as well as its life insurance subsidiaries. These companies collectively are referred to as Anthem Health. The ratings of Anthem Health reflect the group’ s balance sheet…
New York Life has announced the appointment of Xin Wang, Ph.D., CFP ®, AEP ® as the company’ s 2024 Council President, a once-in-a-career honor afforded to the top-ranking individual among the company’ s more than 12,000 advisors and agents. He also amassed a New York Life- record three-year production total from 2022-24.. Wang shared that during his time with New…
Wealth management: why some insurance companies are opting out of a lucrative opportunity
If wealth management is such an important tool for long-term growth at insurance firms, why have we seen a trend of industry consolidation and wealth arm selloff over the past 10 years?
The Hague, December 11, 2024- Aegon has updated its net-zero targets for 2030. These goals build on Aegon's current set of targets that apply until year-end 2024, and that the company expects to meet. Reduce the weighted average carbon intensity of Aegon's corporate fixed income and listed equity general account assets by 50% against a 2019 baseline. Reduce the…
Jackson National Life Insurance Company ®, the main operating subsidiary of Jackson Financial Inc. 1, today announced it has awarded more than $750,000 to nonprofits serving the communities where Jackson has offices: Lansing, Michigan; Nashville, Tennessee; and Chicago, Illinois. “Jackson supports our communities by investing time, experience and money with…
JLL worked on behalf of the borrower, a joint venture between Hornrock Properties and GTIS Partners, to secure the eight-year, fixed rate loan through NorthwesteMutual Life Insurance Company. Ivy and Green is located at 1 Park Ave. in the heart of downtown Hackensack, just 14 miles northwest of Manhattan. The transit-oriented community is walkable to the…
Choir, a program to diversify industry events, sings its last song
Nearly three years after two financial service professionals launched a program to diversify industry events, Choir is singing its last song.
Generative AI has led to constructive disruption in the insurance industry, helping streamline operations, enabling more tailored and profitable product offerings, improving fraud detection, and supporting faster, more informed policyholder services in policy and claims management.
Corebridge Financial, Inc. today announced updates to its Board of Directors. Peter Zaffino, Chairman& Chief Executive Officer of American International Group, Inc., will step down as Chairman of the Board of Corebridge Financial after serving in this role since November 2021. Following Nippon Life Insurance Company’ s acquisition of a 21.6% equity interest…
American International Group, Inc. today announced that is has successfully closed the previously announced sale of approximately 120 million shares of its Corebridge Financial, Inc. common stock to Nippon Life Insurance Company for $31.47 per share, for an aggregate purchase price of $3.8 billion. Wachtell, Lipton, Rosen& Katz acted as legal counsel and J.P….
MidCap Financial Investment Corporation, Apollo Debt Solutions BDC, Apollo Diversified Credit Fund, Apollo S3 Private Markets Fund, Middle Market Apollo Institutional Private Lending, Apollo Investment Management, L.P., Apollo Credit Management, LLC, Apollo Capital Credit Adviser, LLC, Apollo S3 RIC Management, L.P., AA Direct, L.P., AA Infrastructure Fund 1 Ltd.,…
LTCi: Growing number of options available to fit client needs
Life insurance with either long-term care riders or chronic illness riders are picking up steam in the marketplace.
COLUMBIA, Mo.& SAN MATEO, Calif.—- Shelter Insurance ®, a property and casualty insurance company offering insurance sold by agents in 21 states, and Guidewire announced that Shelter selected Guidewire InsuranceSuite to power the company’ s core business, simplify its IT operations and help deliver additional value to agents, policyholders and employees.
According to the announcement, Davis fraudulently obtained approximately $63,898.33 from American Family Life Assurance Company of Columbus by submitting 18 fraudulent insurance claims between October 2017 and September 2020. A joint investigation by the Maryland Office of the Attorney General and the Maryland Insurance Administration revealed…
AM Best has affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of“ bbb-” of Orion Reinsurance Ltd.. Orion Re was founded in December 2004 and is licensed by the Bermuda Monetary Authority to act as a class III insurer without restrictions of any kind in its class. As of December 2023, Mexico represented 44% of the company’ s gross…
