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Mark Pizzi, Nationwide president.

BestWeek/BestReview Subscription Required Nationwide Reorganizes Leadership, Units to Implement Brand Consolidation

Nationwide Mutual Insurance Co. is reorganizing parts of its leadership and unit structure as it works to implement its brand consolidation strategy, according to a company statement. September 12, 2014 Full Story


John Deremo, head of distribution, AIG life products.

BestWeek/BestReview Subscription Required AIG's Deremo: Consumers Need More Useful Life Products

John Deremo, American International Group Inc.'s head of distribution for life products, said longer life spans and limited savings mean Americans will require life products that perform multiple functions. Deremo talked to A.M.BestTV as part of special coverage of Life Insurance Awareness Month. September 12, 2014 Full Story

BestWeek/BestReview Subscription Required Puerto Rico Riding Wave of Captive Growth Using Protected Cell Companies

Puerto Rico insurance regulators are crediting a favorable tax structure for the growth in captive protected cell companies that the Office of the Insurance Commissioner believes will increase by as much as 30% this year. September 12, 2014 Full Story

A.M.BestTV

  • BestWeek/BestReview Subscription Required A.M.BestTV: AIG Life Distribution Chief John Deremo Says Consumers Need More Useful Life Products: The fifth in a series of special interviews A.M.BestTV is running in September to support Life Insurance Awareness Month is an interview with John Deremo, American International Group's head of distribution for life products. Deremo said longer life spans and limited savings mean Americans will require life products that perform multiple functions. "We have a large population of Boomers who will live well into their 80s," Deremo said. "They just can't count on a pension plan or Social Security to take care of them in retirement to the extent they probably expected. They face rising expenses, especially when it comes to health care." Full Story

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  • BestWeek/BestReview Subscription Required Morningstar: Net Sales of Variable Annuities Flat Over Past Six Quarters: As total second-quarter sales of variable annuities in the United States declined 4.6% from the same period a year ago, net sales have remained basically flat for the last six quarters, partly due to "an uptick in tactical offers where carriers trade cash payments for reductions in liability," according to a product manager at Morningstar Inc. Full Story

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A.M. Best Reports

  • BestWeek/BestReview Subscription Required BestWeek: NAIC Stats Show Number of US Captives, Premiums Increased by 17% in 2013: The number of domestic captive insurers and their total premium increased by more than 17% in 2013 over 2012, according to data collected by the National Association of Insurance Commissioners. Total captive insurance premiums written rose to $58.58 billion in 2013, from $49.89 billion in 2012, also an increase of more than 17.4%, according to the latest issue of BestWeek. The number of domestic captive insurers increased by 17.4%, to 2,271 in 2013 from 1,933 in 2012. Vermont dominated in terms of total premium for 2013, with $25.56 billion. Full Story