• Minnesota Life Policy Lets Owner Decide How to Pay Death Benefits

    Minnesota Life Policy Lets Owner Decide How to Pay Death Benefits Minnesota Life Insurance Company has a new indexed universal life product, Omega Builder IUL, offered exclusively through AMZ Financial , that includes an Income Protection Agreement (“IPA”). The IPA incorporates a feature that...

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  • Irish Life Acquired by Great-West Lifeco of Canada

    Irish Life Acquired by Great-West Lifeco of Canada Irish Life , Ireland's largest life assurance, pensions, and investment management company, has been acquired from the Irish government by Great-West Lifeco of Canada .   Following the transaction the Irish Life name will be retained and...

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  • MetLife Sheds Bank Holding Company Status

    MetLife Sheds Bank Holding Company Status MetLife, Inc., has received the required approvals from both the Federal Deposit Insurance Corporation and the Board of Governors of the Federal Reserve to deregister as a bank holding company.   MetLife completed its sale of MetLife Bank's...

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  • Gavin Robinson Is New President and CEO of Manulife Japan

    Gavin Robinson Is New President and CEO of Manulife Japan Manulife Life Insurance Company, Japan , has appointed Gavin Robinson to the position of president and chief executive officer.   Mr. Robinson joined Manulife Financial in 1999. He held positions in the corporate actuarial and wealth...

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  • Ironshore Joins Council for Insuring Private Clients

    Ironshore Joins Council for Insuring Private Clients Ironshore Inc. has joined the Council for Insuring Private Clients (“CIPC”) as a corporate member.  CIPC, founded by MarketScout in cooperation with ACE , AIG , and Fireman's Fund , focuses on best practices, agent education, and advocacy...

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  • John Hancock Insurance Launches Indexed UL Product

    John Hancock Insurance Launches Indexed UL Product John Hancock Insurance has launched Protection Indexed UL (“IUL”), which it said was designed to provide affordable indexed universal life premiums.   “While most Indexed UL products focus on cash value accumulation, John Hancock's new...

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  • Prosperity Life Insurance to Acquire SBLI USA

    Prosperity Life Insurance to Acquire SBLI USA Prosperity Life Insurance Group, LLC , and SBLI USA Mutual Life Insurance Company, Inc ., have reached a definitive agreement whereby Prosperity has agreed to acquire SBLI USA through a sponsored demutualization. Prosperity expects to have over $3...

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  • Aviva Sells Stake in Malaysian Joint Venture

    Aviva Sells Stake in Malaysian Joint Venture Aviva plc has reached an agreement to sell its 49 percent interest in CIMB Aviva Assurance Berha d and CIMB Aviva Takaful Berhad (together, “CIMB-Aviva”) to Sun Life Assurance Company of Canada (“SLA”), a subsidiary of Sun Life Financial Inc ., for...

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  • Starr Companies Names Jeffrey Hayman President of International Insurance Operations

    Starr Companies Names Jeffrey Hayman President of International Insurance Operations Jeffrey Hayman has been named President of International Insurance Operations for Starr Companies .   Mr. Hayman will be responsible for the overall growth, profitability, distribution, and product offerings...

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  • The Hartford Closes Sale of Individual Life and Other Businesses

    The Hartford Closes Sale of Individual Life and Other Businesses The Hartford has completed the sales of three businesses, closing on agreements for the sale of Individual Life to The Prudential Insurance Company of America and Retirement Plans to Massachusetts Mutual Life Insurance Company , as...

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  • Aviva to sell Aviva USA for US$1.8 billion

    Aviva to sell Aviva USA for US$1.8 billion Aviva plc has agreed to sell Aviva USA Corporation , its U.S. life and annuities business, and related asset management operations to Athene Holding Ltd for U.S.$1.8 billion.  Aviva will retain the North American asset management activities of...

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