Banking & Financial Services:Insurance headlines from the week of March 27, 2006
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California insurance regulators have ordered Allstate Insurance Co. to cut rates for homeowners coverage by an average of 28.5 percent, representing a savings of $255 million for policyholders.
Read State orders Allstate to cut rates (Links)
California insurance regulators have ordered Allstate Insurance Co. to cut rates for homeowners coverage by an average of 28.5 percent, representing a savings of $255 million for policyholders.
Read California regulators order Allstate to cut rates (Links)
Massachusetts Mutual Life Insurance Co. will issue free $50,000 life insurance policies to benefit children of working families in Greater Cincinnati.
Read Mass Mutual to offer free life insurance policies (Links)
MassMutual Financial Group is holding an informational session on its free, $50,000 LifeBridge term life insurance program.
Read Tuition program launched by MassMutual (Links)
UTStarcom Inc. completed the sale of its "personal communications" division, which sells phone handsets, to a unit of AIG Investments for about $240 million. (AIG) (UTSI)
Read UTStarcom wraps up $240M sale of unit to AIG, exec gets $1.5M bonus (Links)
James Mallon is head of the largest life insurance company in Tennessee. American General has more than $9 billion assets, and was responsible for more than $951 million in national insurance premiums in 2007. Mallon has served as the chief executive of the company since 2004.
Read American General's Mallon is ready for an insurance revolution (Links)
M Financial Group's 75-percent sales growth last year has the surprise factor of a septuagenarian marathoner crossing the finish line first.
Read Life insurance division fuels uptick at M Financial (Links)
Executives at Cigna Corp. say they're committed to a smooth transition in the insurer's acquisition of Great-West Healthcare -- hoping to avoid the problems that have plagued other mergers of insurance giants over the past decade.
Read Cigna wants to ease into Great-West integration (Links)
An often ignored investment vehicle is surging in popularity as baby boomers begin to look for safer, more conservative options.
Read Annuities gain popularity as boomers, investors become more conservative (Links)
Keith Schuler will take over as chief executive at one of the nation’s biggest independent commercial insurance brokerages next week with a lot on his plate.
Read Large insurance brokerage picks new CEO, merges divisions (Links)
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