Life insurance companies news

Stocks of U.S. life insurance companies successfully witnessed a big week in the market, with a last week rally following the U.S job reports that was much “better than expected.” Further, it also affirmed the investors’ belief of the American economy making a steady comeback.

An arbitration panel at Financial Industry Regulatory Authority (FINRA) today announced that it has ordered Deutsche Bank Securities and one of its former advisors to pay $934K to two investors and their trusts. As reported by the regulatory agency, Karl Hahn, former advisor of Deutsche Bank, has cheated two investors in a multimillion dollar life insurance plan earlier last year.

Once the largest insurance carrier in the world, American International Group (AIG), is about to get a fresh start as a more focused company since the U.S exists its stakes four years later the bailout, said Robert Benmosche, Chief Executive Officer, AIG.

One of the nation’s biggest life insurance policy providers, New York Life, has announced that the sales of mutual funds, annuities and life insurance policies has seen a significant increase between the months of January and September this year.

A U.S. judge sentenced on October 23 a former businessman of Costa Rica and owner of a soccer team to 60 years of prison sentence, after tearful and heart-wrenching testimonies of victims of an insurance fraud scheme amounting to $485 million.

The National Association of Insurance Commissioners has approved a new set of regulations that could lead to an increase in the reserves on certain life insurance products. These changes have necessitated the move by the insurers as well to increase the reserves in order to comply with the new guidelines.

Insurance Marketing Communication Award and Insurance and Financial Communicators Association Award Recognize Commitment to Offer High Quality Service by John Hancock to Distribution Partners
A press release revealed that John Hancock Life Insurance won eight industry awards, including two prestigious ‘Awards of Excellence’. These awards have been from Insurance Marketing Communications Association and Insurance and Financial [...]

3 big insurance companies in Western part of New York seek for higher insurance rates for most of their plans because according to those companies the premiums just continuously rise faster than the rate of inflation. They need to increase around 10% to be able to continue with their regular operation. though, the increase will [...]

Pan-American Life Insurance Group (PALIG) announced the receipt of regulatory approval for acquiring the assets of MetLife (NYSE:MET) along with its businesses in Panama, Costa Rica, Trinidad and Tobago, St. Lucia, and Cayman Islands. PALIG mentioned that the acquisition of MetLife assets and businesses in these areas has been completed. PALIG further stated that it [...]

A life insurance agent in Baton Rouge has been charged with three counts of fraud after he purportedly accrued commissions through the sale of exaggerated policies to unsuspecting applicants. The insurance rip-off revolves around asset forfeiture, money laundering and mail deception.
Timothy R. Schlatre now faces a possible imprisonment of not less than 30 years after [...]