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AIG Unloading Minority Stake in India Life Insurer

admin — Tue, 29 Sep 2009 20:00:00 +0000

Officials for ailing insurer American International Group (AIG) likely will sell the insurer’s 26 percent stake in India-based Tata-AIG Life Insurance to AIG’s majority partner in the joint venture, global giant Tata.

The Hartford to Focus on Insurance Instead of Annuities

admin — Tue, 29 Sep 2009 20:00:00 +0000

The largest provider of annuities in the United States, The Hartford Financial Services Group, is changing its business focus to more profitable insurance endeavors, its top executive announced today.

U.S. Seniors Selling Life Insurance Policies as Economy Tightens

admin — Tue, 29 Sep 2009 20:00:00 +0000

As the nation’s economy grew worse during the past year, many senior citizens finding themselves in need of quick cash have resorted to selling their life insurance policies to third parties in exchange for a smaller payout in advance.

Report: World’s Largest Life Insurer Likely to Invest in AIG Unit

admin — Tue, 29 Sep 2009 20:00:00 +0000

Officials for the world's largest life insurance company, the China Life Insurance Company, said the insurer might invest in ailing American International Group's (AIG) Asian life insurance unit if company officials make an initial public offering on the Hong Kong stock market, Reuters reported today.

MetLife Reports $1.4 Billion Net Loss for the Second Quarter of 2009

admin — Tue, 29 Sep 2009 20:00:00 +0000

MetLife officials reported the nation's largest life insurance company suffered a significant setback during the recent fiscal quarter after posting a profit during the same period a year earlier.

The Hartford Post $15 Million 2nd Quarter Loss But Bests Analysts’ Expectations

admin — Tue, 29 Sep 2009 20:00:00 +0000

The Hartford Financial Services Group last week reported a second-quarter net loss of $15 million that was much lower than industry analysts predicted and was the smallest loss posted by the insurer during the past year.

AIG Weighing Initial Public Offering of Overseas Life Insurance Giant

admin — Tue, 29 Sep 2009 20:00:00 +0000

Rather than selling it, American International Group officials are considering spinning off a giant global life insurance subsidiary and giving the federal gov't control of a large amount of shares as a partial repayment of the insurer's nearly $183 billion debt to U.S. taxpayers.

The Hartford Joins Dodd Benefactors in Gaining Federal TARP Funds

admin — Tue, 29 Sep 2009 20:00:00 +0000

Connecticut-based The Hartford will receive $3.4 billion in taxpayer funds, adding the insurer to the growing list of large contributors to U.S. Senator Chris Dodd's (D-Conn.) political ambitions to receive taxpayer funds.

Study: Global Life Insurance Market Rebound Predicted in 2010

admin — Tue, 29 Sep 2009 20:00:00 +0000

Bolstered slightly by emerging markets, global life insurers likely will continue to perform poorly in 2009 but see increased business and opportunities next year, according to a recent study by one of the world's largest reinsurance companies.

Other Life Insurers Weigh Benefits, Consequences of Federal Relief Program

admin — Tue, 29 Sep 2009 20:00:00 +0000

With MetLife having recently refused federal aid, other life insurance companies are weighing the benefits and demerits of participating in a federal relief program for financial institutions.

MetLife Officials Tell Fed to Keep Bailout Funds, Avoid Federal Intrusion

admin — Tue, 29 Sep 2009 20:00:00 +0000

MetLife officials said "no thanks" to federal officials after being approved for participation in a taxpayer-funded program targeting financial institutions.

Life Insurers Buoyed by Federal TARP Fund Participation

admin — Tue, 29 Sep 2009 20:00:00 +0000

Several U.S.-based life insurers will be able to participate in a $700 billion federal rescue program for banks.

Analysts Agree with Reports of The Hartford Exiting the Life Insurance Business

admin — Tue, 29 Sep 2009 20:00:00 +0000

Life insurance industry analysts agree with a news report last week indicating The Hartford is exiting the life insurance business.

MetLife Takes Top Market Position in Fixed-Annuity Sales as Investors Seek Safe Options

admin — Tue, 29 Sep 2009 20:00:00 +0000

Formerly popular but now high-risk variable rate annuities have lost popularity among insurers and consumers alike as fixed-rate annuities become the favored option.

Life Insurers’ Struggles Causing Concern Among Annuity Owners

admin — Tue, 29 Sep 2009 20:00:00 +0000

Exposure to risky variable annuity contracts are causing grief for many U.S. life insurers, including the industry's top competitor.