The Best’ s Market Segment Report,“ Market Segment Outlook: Malaysia Non-Life Insurance,” states that the non-life sector is poised for significant growth, underpinned by economic recovery, rate hikes due to high inflation and rising claims and growing demand for digital insurance and takaful products. At the same time, Malaysia’ s non-life insurers face rising…
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Benjamin Deng will lead Sun Life's asset management capabilities across Asia, strengthening the company's investment management strategy to deliver strong performance for clients.. HONG KONG– Sun Life today announced the appointment of Benjamin Deng as President, Asia Asset Management, effective January 1. In this newly created role, Benjamin will lead Sun…
SB 263 expected to bring chaos to Calif. insurance, annuity sales come Jan. 1
California’s new best-interest insurance sales bill (Senate Bill 263) could bring chaos to consumers and agents come Jan. 1.
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Life insurance can add bulk to a well-rounded retirement plan.
AM Best is maintaining its outlook for Germany’ s non-life insurance segment at negative. In its new Best’ s Market Segment Report,“ Market Segment Outlook: Germany Non-Life Insurance”, AM Best says moderate growth prospects, on an inflation-adjusted basis, continue to be a headwind for insurers in Germany. Headquartered in the United States, the company does…
Sen. Ron Wyden takes on private placement life insurance with new bill
New legislation from Sen. Ron Wyden, D-Ore., would reclassify and tax life insurance primarily used by the ultra-wealthy.
AM Best has commented that the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of“ aa-” of Nippon Life Insurance Company remain unchanged following the announcement of the acquisition of Resolution Life Group Holdings Ltd. on 11 December 2024. Nissay has entered into an agreement to acquire full ownership of Resolution Life, a global…
How cloud technologies can help agents serve more older Americans
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The report also cites the diversification of revenue streams among Japan life insurers by expanding into new markets and adjacent business lines. While many advanced economies started easing monetary policy amid persistent disinflation, Japan entered a tightening cycle in March 2024. The increase in sales of savings-type products in Japan’ s higher…
Nationwide announced the launch of Nationwide Survivorship Variable Universal Life II, a life insurance product designed to provide comprehensive coverage and financial flexibility for two people.
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…
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
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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…
