After umpteen payouts over 2 years, life insurers anticipate brighter FY23

Death claims and payouts for life insurance companies hit a record high in 2021-22 as the second wave of the Covid-19 pandemic playedhavoc. The sector is however, more upbeat about prospects in the new fiscal and believe the impact of the pandemic on their balance sheet has been contained. The country’s largest life insurer—Life Insurance … Read more

US life insurance premiums exceed $200B for 1st time ever in 2021

US life insurers saw their yearly direct life insurance premiums surpass $200 billion for the first time in history in 2021, according to an S&P Global Market Intelligence analysis of annual statutory statements. In aggregate, the combined group and ordinary, or individual, direct life premiums climbed 9.9% year over year to $204.7 billion in 2021. … Read more

Ageas Federal Life Insurance to look at inorganic play for bank partnership

Ageas Federal Life Insurance is hoping to increase its distribution footprint this fiscal with partnerships and tie-ups with banks after IDBI Bank discontinued selling its products. “For the next three to five years, the aim is to shore up our topline and distribution footprint. That would be through a combination of proprietary channels like agency, … Read more

Pay no-claim discount to active policyholders – some life insurers demand

Some life insurance companies are making a case for a remunerative benefit to be offered to the policyholder after every three months under their life insurance policy. Also known as No-Claim Bonus (NCB), Acting Head of Metropolitan Life Insurance (MetLife), Emmanuel Oteng Tuffour says active policyholders deserve some motivation. Speaking at the launch of a … Read more

JihSun Financial: Jih Sun FHC, on behalf of Jih Sun Life Insurance Agency subsidiary, announces the subjects for convening the 2022 shareholders’ ordinary meeting.

Close Provided by: JIH SUN FINANCIAL HOLDING CO., LTD SEQ_NO 1 Date of announcement 2022/05/20 Time of announcement 16:10:22 Subject Jih Sun FHC, on behalf of Jih Sun Life Insurance Agency subsidiary, announces the subjects for convening the 2022 shareholders’ ordinary meeting. Date of events 2022/05/20 To … Read more

10 Life Insurance Myths That Need To Be Debunked – Forbes Advisor INDIA

Everybody knows that it is vital to provide for the certainties of life, such as their children’s future education or marriage, their retirement, or loss of future income due to death, disease, or disablement of the breadwinner. The utilization of life insurance products as a comprehensive tool for these certainties of life is less understood. … Read more

Pacific Life Announces Plans to Enter Workforce Benefits Market

NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life today announced its intent to enter the workforce benefits marketplace. “Building a meaningful position in the workforce benefits market aligns well with our purpose to help consumers meet their future financial protection needs,” said Pacific Life Executive Vice President and Chief Operating Officer Adrian Griggs. “Not only will we create … Read more

AM Best Upgrades Credit Ratings of United Heritage Life Insurance Company; Revises Issuer Credit Rating Outlooks to Stable for Subsidiaries of United Heritage Financial Group, Inc.

OLDWICK, NJ–(BUSINESS WIRE)–AM Best has upgraded the Financial Strength Rating (FSR) to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” (Excellent) from “bbb+” (Good) of United Heritage Life Insurance Company (UHLIC) (Meridian, ID). Concurrently, AM Best has affirmed the FSR of B+ (Good) and the Long-Term ICR of … Read more

Zurich Insurance to exit Russian market, sell business to local team

The logo of Zurich Insurance is seen at its headquarters in Zurich, Switzerland January 13, 2022. REUTERS/Arnd Wiegmann Register now for FREE unlimited access to Reuters.com Register ZURICH, May 20 (Reuters) – Zurich Insurance (ZURN.S) has agreed to sell its Russian business to members of the local team, it said on Friday, as the Swiss … Read more