Failing to distinguish the difference between probate and non-probate assets could lead to unintended and costly consequences not only for the person who owns the asset, but also for life insurers that serve as custodians of the assets.
Ebix, Inc. announced today that it has reached a “stalking horse” agreement to sell its North American life and annuity assets to Zinnia for $400 million, part of a bankruptcy reorganization plan.
Moody’s Investor Service maintains a stable outlook for the US life insurance sector, driven by benefits of rising interest rates, which will offset slower economic growth as well as weakness in certain asset classes such as commercial real estate.
A strong economy and falling inflation sparked demand for life insurance in mid-2023, and that showed up in LIMRA’s third-quarter individual life premium surveys and estimates.
An Oklahoma couple claims they were misled by an advisor and Pacific Life Insurance Co. on a premium financing program to fund a $15 million life insurance policy.
Life insurance application activity was flat in November on a year-over-year comparison. But activity remained up 2.6% year to date, according to the MIB Life Index.
More than 250 members of the National Association of Insurance and Financial Advisors took to Capitol Hill today to meet with over 200 Congressional offices to advance the need to protect the worker classification of financial service professionals as independent contractors and to provide consumers a variety of choices in financial service professionals.
Fifty-eight percent of life insurers are either using or have an interest in using artificial intelligence in their businesses, an NAIC working group found.
KKR resolved lingering liabilities with Global Atlantic Financial Group minority shareholders by purchasing the remaining 37% of the insurer for $2.7 billion.
Although greenfield is smaller in scope than a traditional PAS modernization project and enables life insurance companies to start processing new business quickly, it’s not the solution to all your digital transformation roadblocks.
The agenda featured discussions on topics such as: the continued growth and prevalence of artificial intelligence; the return of the U.S. Department of Labor’s Fiduciary Rule; insurance issues related to catalytic converter theft; medical loss ratios for dental health care services plans; public adjuster professional standards reform; and more.