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Topics: Life
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Horace Mann Educators' Second-Quarter Net Drops 21.5% on Catastrophe Losses: Horace Mann Educators Corp.'s second-quarter profit declined 21.5%, in part, by catastrophe losses. Net income dropped to $20.4 million. The combined ratio for property/casualty of 102.7 "reflected the impact of 16.3 points ... Source: BestWire News
Date: July 24, 2014

Ohio Bureau of Workers' Compensation, Employers Reach $420 Million Settlement of Overcharges Lawsuit: The Ohio Bureau of Workers' Compensation is seeking court approval of a settlement that would have the agency pay $420 million to cover claims of employers involved in a class-action lawsuit involving workers' compensation in... Source: BestWire News
Date: July 24, 2014

UK Government Marshals Support for Bill to Revamp Commercial Insurance Sector: The U.K. government is marshaling support for legislation that promises to bring the biggest change to the country's commercial insurance market for more than a century, industry watchers said. The Insurance Bill, which is i... Source: BestWire News
Date: July 24, 2014

A.M. Best Affirms Ratings of Medco Containment Company and Medco Containment Insurance Company of New York: A.M. Best has affirmed the financial strength rating of A- (Excellent) and issuer credit ratings of "a-" of Medco Containment Life Insurance Company (MCLIC) (Mechanicsburg, PA) and Medco Containment Insurance Company of New Y... Source: BestWire News
Date: July 23, 2014

A.M. Best Affirms Ratings of Medco Containment Company and Medco Containment Insurance Company of New York: A.M. Best has affirmed the financial strength rating of A- (Excellent) and issuer credit ratings of "a-" of Medco Containment Life Insurance Company (MCLIC) (Mechanicsburg, PA) and Medco Containment Insurance Company of New Y... Source: Press Releases
Date: July 23, 2014

Equity Analyst: Kansas City Life's Transfer of Broker-Dealer Subsidiary Part of Continuing Trend in Industry: Kansas City Life Insurance Co.'s subsidiary, Sunset Financial Services, will stop retail operations and transfer its broker-dealer and registered investment advisory accounts to Securities America. Kris Bradley, a spokeswoma... Source: BestWire News
Date: July 23, 2014

Japan Post Insurance Starts Distribution of Aflac's Cancer Products: Japan Post Insurance Co. Ltd. has begun distribution of cancer insurance products for Aflac through its 79 directly managed outlets, said Japan Post Insurance, an insurance unit of state-owned Japan Post Holdings. Japan ... Source: BestWire News
Date: July 23, 2014

NAIC Panel Looking at Enhanced Groupwide Reporting Options: A National Association of Insurance Commissioners panel has temporarily tabled one of three options that could determine what information insurance groups might file as part of enhanced group-wide supervision, but may ultimat... Source: BestWire News
Date: July 23, 2014

Regulator: Australian Insurers Coping Well With Risk-Based Capital Standards: The Australian insurance industry is generally in good shape, a year after the country's regulator implemented risk-based capital standards among the market players, said Wayne Byres, chairman of the Australian Prudential Reg... Source: BestWire News
Date: July 22, 2014

Equity Analysts: Life Insurers Must Address 'Perceptions of a Rising Interest Rate Environment': Policyholder behavior, as it is affected "by perceptions of a rising interest rate environment," is a significant concern to equity analysts with Sandler O'Neill, a concern that life insurers must address, they wrote in a res... Source: BestWire News
Date: July 18, 2014

A.M. Best: MassMutual Cracks Top 10 in Ranking of Life Insurers by Admitted Assets: Based on 2013 admitted assets, Hartford Life Group was bumped out of A.M. Best Co.'s top 10 U.S. life/health insurer ranking as MassMutual Financial Group climbed from 12th to 10th, a newly released statistical study shows. T... Source: BestWire News
Date: July 18, 2014

A.M. Best Affirms Ratings of Allianz Life Insurance Company of North America and Allianz Life Insurance Company of New York: A.M. Best has affirmed the financial strength rating of A (Excellent) and the issuer credit ratings of "a+" of Allianz Life Insurance Company of North America (Minneapolis, MN) and its subsidiary, Allianz Life Insurance Compa... Source: BestWire News
Date: July 18, 2014

A.M. Best Affirms Ratings of Allianz Life Insurance Company of North America and Allianz Life Insurance Company of New York: A.M. Best has affirmed the financial strength rating of A (Excellent) and the issuer credit ratings of "a+" of Allianz Life Insurance Company of North America (Minneapolis, MN) and its subsidiary, Allianz Life Insurance Compa... Source: Press Releases
Date: July 18, 2014

MetLife Taps Former Bain & Co. Executive as Chief Enterprise Strategy Officer: MetLife Inc. said it has hired Rebecca Tadikonda as its chief enterprise strategy officer, effective July 21. She succeeds Kishore Ponnavolu, who is now president of MetLife Auto & Home. Tadikonda will report to Steven A. K... Source: BestWire News
Date: July 17, 2014

OneAmerica Field Vice President: Pension Buyout Represents Company's First Such Transaction in 20-Plus Years: A subsidiary of OneAmerica Financial Partners has completed a pension risk buyout, with the transaction representing its first pension risk transfer in more than 20 years, an executive with the company says. With the tra... Source: BestWire News
Date: July 16, 2014

Taiwan Lays Out Plan to Enhance Insurance Sector's Competitiveness: Taiwan's Financial Supervisory Commission has laid out measures to enhance the insurance industry's comparative edge in light of increasing insurance liberalization and vibrant growth in Asia, according to a statement from th... Source: BestWire News
Date: July 16, 2014

Joining Other Life Insurers, MassMutual Opens Office to Serve Chinese-American Community in NYC: Massachusetts Mutual Life Insurance Co. has set up shop in a neighborhood in the New York City borough of Queens, in the heart of the city's Chinatown, in a stepped-up effort to provide financial services to the large Chinese... Source: BestWire News
Date: July 15, 2014

A.M. Best Assigns Debt Rating to Mutual of Omaha Insurance Company's New Surplus Notes: A.M. Best has assigned a debt rating of "a" to the $300 million 4.297% fixed-to-floating rate 40-year surplus notes recently issued by Mutual of Omaha Insurance Company (Mutual of Omaha) (Omaha, NE). The outlook assigned is s... Source: BestWire News
Date: July 15, 2014

A.M. Best Assigns Debt Rating to Mutual of Omaha Insurance Company's New Surplus Notes: A.M. Best has assigned a debt rating of "a" to the $300 million 4.297% fixed-to-floating rate 40-year surplus notes recently issued by Mutual of Omaha Insurance Company (Mutual of Omaha) (Omaha, NE). The outlook assigned is s... Source: Press Releases
Date: July 15, 2014

A.M. Best Special Report: L/H Impairments Match Record Low; Accident & Health Remains Trouble Spot: One financial impairment of a U.S. life/health insurer was recorded in 2013, matching the low last seen in 1962. The impairment of Florida-based Universal Health Care Insurance Co., Inc. (Universal), represented 0.07% of the ... Source: BestWire News
Date: July 14, 2014

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