On Nov. 18, 2004, Standard & Poor’s Ratings Services affirmed its ‘AA’ counterparty credit and financial strength ratings on Jackson National Life Insurance Co. and Jackson National Life Insurance Co. of New York (collectively referred to as JNL).
The outlook on JNL is negative.
The affirmation on JNL is concurrent with rating actions taken on Prudential PLC […]
Northern Trust, a leading global custody, asset administration, and investment management service provider, announced today its appointment by AAA Life Insurance Company, to provide domestic custody, securities lending, and performance measurement services for $1.1 billion in general insurance assets. The assets transition in November, 2004.
“We selected Northern Trust because of […]
Jackson National Life Insurance Company (”JNL”), an indirect wholly-owned subsidiary of Prudential plc, has entered into an agreement to buy Life Insurance Company of Georgia from ING Groep, NV. JNL will pay GBP137 million in cash for the business.
This purchase adds scale to JNL’s operating platform and expands its agency distribution. The additional 1.6 million […]
China’s insurance industry continues to grow as its economy expands. And like the economy, the sector saw ups and downs over the past decades.
The industry’s product structure has been under attack recently. Critics say investment-oriented products have taken an unproportionately large part of the industry, which, they claim, will menace the role of guarantees in […]
Alderwoods Group, Inc. (NASDAQ:AWGI - News) today announced its third quarter results, representing the 16 weeks and 40 weeks ended October 9, 2004.
The Company reported a total net loss of $13.4 million, or $0.33 basic and diluted loss per share, on revenues of $212.0 million for the third quarter of 2004, compared with a total […]
MIB Group of Westwood, Mass., said Wednesday applications for life insurance in North America declined 1.9 percent in October.
MIB Group is an Internet-based information provider to the risk management market.
MIB said January notwithstanding, 2004 declines have been relatively quiet, particularly in Canada.
October’s MIB Life index for the United States showed a 2.1 percent decline in […]
Veteran sales executive Michael Mondell has joined The Lifeline Program(R), a life insurance policy settlement company, as national sales director. Life settlements enable individuals, typically seniors or the terminally ill, to sell existing life insurance policies for cash. Mondell will be responsible for all aspects of the company’s national sales programs, which include reaching out […]
Applications for life insurance in North America declined -1.9% in October year-over-year, marking flat to declining activity for nine of the last ten months of 2004. January notwithstanding, 2004 year-over-year declines have been relatively quiet, particularly in Canada. Year-to-date (YTD), North American applications were off slightly at -1.4% versus the same period last year; down […]
Only a few years ago, Nationwide Financial Services (NYSE: NFS - News) associates completed underwriting in about 45 days. Today, thanks to innovative thinking and high-tech tools, the company is leading the industry with a speedy 20-25 days on average to issue a new life insurance policy. In fact, some approved policies can arrive at […]
The combined assets of domestic life insurance companies are expected to surpass 200 trillion won ($181.8 billion) this year thanks to an increased premium income, the Korea Life Insurance Association (KLIA) said Wednesday.
The nation’s 23 life insurers had 199.38 trillion won in assets as of the end of September, up 14.5 percent from a year […]