Insurance company sale by Allstate has reached closure

Allstate Insurance company

The sale of Lincoln Benefit Life to Resolution Life Holdings Inc. has now been closed. The Allstate Corporation has announced that it has completed the sale of its former insurance company, Lincoln Benefit Life, to Resolution Life Holdings, Inc. as a part of a strategic move forward by Allstate. This move was a part of a larger plan to focus on specific segments of the market. According to the president, chairman, and CEO of Allstate, Thomas J. Wilson, “This divestiture is another strategic step for Allstate to serve distinct consumer…

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Life insurance assets from Swiss Re in U.S. may soon be for sale

life insurance news

The company has announced that it is considering a retreat from the market in the United States. Sources familiar with Swiss Re Ltd. have revealed that it is thinking about putting its Aurora National Life Assurance Co. up for sale as it is drawing back from the American health and life insurance marketplace. This second largest reinsurer in the world is now taking efforts to seek out buyers for the assets. Swiss Re is working alongside Barclays PLC in order to be able to locate buyers for Aurora National as…

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Life insurance product for scuba divers now offered

scuba diver life insurance

An insurer has just released a type of policy specifically for these underwater adventurers. As adventure sports start to become more popular, the several sectors of the industry, such as life insurance, have responded by coming up with products that are specifically designed for the needs of participants. Now, a new product has been released that targets individuals who enjoy scuba diving. The insurer behind this new product is Lifeline Direct Insurance Services, which often looks to develop products for specific lifestyles. They have observed that there is a need…

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Life insurance awareness in Iraq remains low

How much life insurance do you need?

Despite the high level of violence in the country, many Iraqi people lack knowledge about the coverage. Even though there are hundreds of Iraqi people who die every month as a result of the violence that still plagues the nation, there remains a lack of awareness regarding life insurance throughout the population. It is believed that the lack of awareness is the primary reason that people are not covering their lives. According to the state-owned Iraq Insurance Company’s general manager, Sadiq Abdul Rahman, who reports directly to the Ministry of…

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Life insurance arm in Korea sold by ING

life insurance business sold

The financial services group has now sold the South Korean unit to MBK Partners Ltd. ING Groep NV has now announced that it has managed to sell its South Korean life insurance unit, after having made the second attempt with a span of twelve months to accomplish this goal. It managed to raise approximately $1,646,800 (1.38 trillion South Korean Wan). The amount for the purchase was agreed upon by the buyer, MBK Partners Ltd., which is an Asian buyout company that was created by executives formerly from the Carlyle Group.…

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Life insurance business in Taiwan being sold by Manulife

life insurance news

The company has announced that it will be ending the relationship that they have had in the country for 11 years. Manulife Financial Corp. has now announced that it will be ending an 11 year life insurance business relationship in Taiwan, and that it will be selling this business for about $25 million. The company has already found a buyer for this unit, and the acquisition processes are underway. CTBC Life Insurance Co., Ltd., will be purchasing this business from Manulife. It is the insurance arm of a large Taiwan…

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Life insurance recovery reaches $1.1 billion

Life Insurance Payment

New York regulators have said that by July 10, the nationwide investigation has already been very successful. According to regulators in New York, the investigations that have been going on nationwide have already resulted in the recovery of over $1.1 billion in unclaimed life insurance benefits. Previously, insurers had not been using available lists in order to discover recent deaths that had occurred. The Department of Financial Services in New York explained that many life insurance companies were failing to consult with the Social Security Administration lists of recent deaths…

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