Genworth Financial has appointed Michael Derstine as the new chief risk officer (CRO) for its US Mortgage Insurance (USMI) unit, effective from 03 January 2013. Derstine joins Genworth from Republic Mortgage Insurance Company (RMIC), ...
Tags: USMI, Genworth Financial, Michael Derstine, CRO
New York Life has elected Annamaria Banaszek, Craig DeSanto and John DiRago as senior vice presidents of the company and will report to Chris Blunt, president of the Insurance Group. Banaszek will serve as head of the Group's Wealth ...
Tags: New York Life, Annamaria Banaszek, Craig DeSanto, John DiRago
US-based Guardian Insurance & Annuity Company (GIAC) has unveiled its new deferred income annuity product, known as SecureFuture Income Annuity. The new annuity product has been designed to offer a future stream of guaranteed lifetime ...
Tags: US, GIAC, SecureFuture Income Annuity
Nonlife insurance group Randall & Quilter Investment (R&Q) has acquired entire issued share capital of Hickson Insurance Limited (HIL). The acquirer purchased the shares for pound 525,000, from owner Hickson Investments, (an affiliate of ...
Tags: Nonlife insurance, R&Q, HIL
ING US has appointed David Bedard as president of its annuities business segment, a part of ING US Retirement Solutions business that is focused on driving growth and long-term success in the fixed annuity market. Based in ING US Windsor ...
Tags: annuities business, David Bedard, President, annuity market
American International Group(AIG)has inked a$400m reinsurance transaction with Compass Re to provide peak-zone protection against US hurricanes and earthquakes. In order to fund its potential obligations to AIG,Compass Re has also issued ...
Tags: AIG inks, 400m dollars reinsurance coverage, deal with Compass Re
USI Insurance Services(USI)has acquired Chicago-based insurance member benefits broker,marketer and administrator for the American Academy of Pediatrics(AAP),Pediatrics Insurance Consultants(PIC). Following completion of the ...
Life and health insurance marketing group AmeriLife has purchased Arizona-based marketing organization Unkefer&Associates,which offers products for annuity and life insurance sales agents. The acquisition,which is the second similar ...
The Empire Life Insurance Company (Empire Life) has launched its next generation guaranteed withdrawal benefit (GWB) solution for customers. Dubbed Class Plus 2, the newly launched solution is specifically designed to address the changing ...
Tags: Empire Life, GWB solution, next generation, insurance
American General Life Companies (American General) has introduced Future Income Achiever Annuity to provide a guaranteed income stream for the clients' lifespan. In addition to offering three death benefit options, the delayed-income ...
Tags: American General, Future Income Achiever Annuity, income stream, clients
UK-based insurer Aviva has sold its remaining stake of 19.4% in Dutch insurer Delta Lloyd for 353m, as part of its strategy to reorganize operations. Aviva sold all its 34 million shares in Delta Lloyd for €12.65 per share, ...
Tags: Aviva, stake, insurer, share, life insurance, general insurance
South Korean insurer Kyobo Life Insurance is selling 30% of its stake in the firm in an auction, which is expected to be worth $2bn. Sources close to the matter told The Financial Times that the deal has attracted interest from private ...
Auto-Owners Life Insurance has selected a new end-to-end system, MphasiS-Wyde Wynsure software, for its life policy issuance and administration, billing, claims and reinsurance. Selected against several other competing vendors, the ...
Tags: Auto Owners, Life Insurance, system, MphasiS Wyde Wynsure software
Mutual life insurers and employee benefits provider The Guardian Life Insurance Company of America (Guardian) has acquired Coloradao-based Reed Group. Terms of the transaction were not disclosed. Reed Group assists customers in reducing ...
Tags: Guardian, life insurers, Reed Group, life insurance
The Prudential Insurance Company of America has closed the acquisition of The Hartford’s individual life insurance business through a reinsurance transaction, valued at $615m in cash. The acquirer is expected to receive nearly $7bn ...
Tags: Prudential Insurance, acquisition, America, Hartford