Ebix, an insurance software provider has struck a deal with a US mutual insurance company to cater Ebix Advantage Web Enterprise SaaS platform, for all its back end system needs such as rating, underwriting, policy administration, ...
Tags: Ebix, insurance software, back end system, underwriting
London based private equity firm Cinven is planning to launch its Partnership annuity business, although the firm has not revealed the name of the new underwriting entity. Sources close to the matter told Financial Times that the private ...
Protective Life Corporation (PLC) has registered 13% downfall in net income available to PLC's common shareowners to $76.2 m, or $0.91 per average diluted share for the second quarter of 2012, against $87.6m, or $1.00, during the same ...
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Accenture has introduced an enhanced version of its life and annuity insurance software suite, Life Insurance Platform, in an effort to lower operating costs for insurers. Accenture Software for life insurance product line lead Mitchel ...
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The Phoenix Companies and Legacy Marketing Group have jointly launched enhanced version of its CommandMark single premium fixed indexed annuity series. The new CommandMark Series has been designed to provide guaranteed lifetime income for ...
Tags: Phoenix Companies, Legacy Marketing Group, CommandMark, lifetime income
Dutch insurer Aegon has reported that its net profit for the first quarter of 2012 stood at €521m, with an increase of 59%, compared to a net profit of €327m during the same period a year ago. The underwriter said that its net ...
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The Prudential Insurance Company of America has inked a deal with Verizon Communications, pursuant to which the latter will transfer nearly $7.5bn in pension plan obligations to the former. Following the completion of the deal expected in ...
Tags: Prudential Insurance, Verizon Communications, pension plan, insurance
MetLife has agreed to pay $500m in a multistate settlement with Florida insurance investigators in connection with holding death benefits from life insurance policies issued decades ago. The regulators accused the US insurer over non ...
Tags: MetLife, multistate settlement, death benefits, insurance
Prudential Insurance has struck a deal with General Motors, which will allow Prudential to assume certain salaried retiree benefit obligations as part of GM’s plan to reduce pension obligations by nearly $26bn. The agreement is ...
Tags: Prudential Insurance, General Motors, retiree benefit, insurance
American Financial Group has reported net earnings attributable to shareholders of $226m or $2.39 per share for the third quarter of 2012, with an increase of 133% from $97m, or $0.95 per share, during the same period last year. Its core ...
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Presidential Life and Athene have inked a definitive agreement for an Athene subsidiary to acquire Presidential Life for $14 per share in cash, in lieu of an aggregate purchase price of nearly $415m. In pursuant of the terms of the merger ...
Tags: Presidential Life and Athene, Presidential Life, acquisition
The Navy Mutual Aid Association has chosen the Accenture Life Insurance Platform, the life and annuity insurance software suite from Accenture. The new platform supports Navy Mutual's life and annuity product configuration, new business, ...
Tags: Navy Mutual Aid Association, Accenture Life Insurance Platform
Japanese multinational conglomerate Nomura is seriously mulling to dispose or refinance its ING’s insurance unit in Japan, particularly its variable annuity business, with an aim to boost its capital base. A consortium including ...
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Scottish Re Group has reported a net income of $17.13m for the first quarter of 2012, compared to $22.38m for the same period in 2011. The total revenues decreased to $130.25m for the first quarter of 2012, compared to $165.74m for the ...
Tags: Scottish Re Group, net income, quarter 1, total revenues, insurance
The Guardian Insurance & Annuity Company (GIAC), a wholly-owned subsidiary of The Guardian Life Insurance Company of America, has selected Jasonn Potter as the regional vice president for its retirement plans sales team. In his new role, ...
Tags: GIAC, The Guardian Life Insurance, Jasonn Potter, regional vice president