Life Insurance
Life insurance news and analysis, with coverage of life insurance market trends, and of life insurance regulatory, compliance and legislative issues .
SEC Brings Up Charges on Life Partners Holdings
By Elizabeth D. FestaThe SEC alleges that Life Partners Holdings Inc., in conjunction with Dr. Donald T. Cassidy, purposefully underestimated the life expectancies of policyholders in what may be a punishing episode for the secondary market's larger reputation.
January 03, 2012
Policyholders Getting Smarter, Leading to Charges for VA Products, Says Moody’sCharges related to changes in policyholder assumptions on variable annuities with guaranteed benefits may emerge among life insurance companies in the U.S., putting a dent in earnings and capital, according to a new Moodys report in the wake of INGs announcement that it would take a 4th-quarter charge to earnings.
January 03, 2012
Life Insurers Face Double Whammy in New YorkLife insurers based in New York have already made $52.6 million in payments to 7,934 beneficiaries as a result of the New York Department of Financial Services probe of insurer unclaimed property practices.
January 03, 2012
State vs. Federal, Round OneInsurance representatives on December 9 agreed at a Washington conference that the new Federal Insurance Office (FIO) is an important single point of contact at the federal level on insurance issues, especially international ones.
January 03, 2012
ING Group to Take $1.1 Billion Charge Against Fourth Quarter EarningsING Group, N.V., Amsterdam, Netherlands, announced in early December an estimated $1.1 billion (EUR $0.9 billion) earnings charge against the fourth quarter results of its U.S. closed variable annuity block of business. The adjustment includes a charge to restore the reserve adequacy to the 50% confidence level for the US...
January 03, 2012
The Year AheadAs the U.S. economy continues its slow-growth recovery, market-watchers remain cautiously optimistic that life insurance professionals and product manufacturers can preserve the sales gains achieved in 2011.
January 03, 2012
Company ManMany veteran agents recall a time that was much more career-oriented, when they were recruited, trained and supported more. As that changed to a more independent system, they feel that something got lost in translation. LIMRA has noted a rising interest in career distribution, something New York Life has never...