Live Insurance News

Life insurance companies in Asia being snatched up by Japan

June 28, 2013June 26, 2013 H. Cutner

Wealthy Japanese financial firms are setting their sights on the Southeast and are purchasing heavily. The latest trend in the life insurance industry is in Southeast Asia, where Japanese companies have already spent $6.6 billion this year – much of it in that sector – as they purchase one firm after the next. The latest reports have indicated that another massive acquisition of this nature is about to be made. These reports are indicating that Meiji Yasuda is looking into making an offer of $700 million for Thai Life insurance,…

Life insurance leader in the Philippines market declared

June 20, 2013June 18, 2013 G. Turner

A Canadian company has established dominance over the marketplace in the Asia Pacific country. It has just been announced that Sun Life of Canada (Philippines), has now been named the leading life insurance company in the market in the Philippines for the second year in a row. This ranking was based on premium income that was brought in through the sector in 2012. This official ranking for the local life insurance market was released by the Insurance Commission (IC), and confirmed that the insurer was still at the top of…

Life insurance industry in Australia feels the economic pinch

June 15, 2013June 12, 2013 G. Turner

Tougher times are beginning to show their mark on this sector as its value drops by over $1 billion. The Australian life insurance industry has been combating the struggles associated with the sluggish economic pace but has still managed to see its value drop by over $1 billion as the impact progresses. Its challenges only grows as it faces difficulties in the claims of larger policy holders. The largest life insurance companies in the Australian industry have reported that within the last year, the profit expectations were missed by a…

Life insurance settlements in California reach $763 million

June 11, 2013June 8, 2013 G. Turner

So far, there have been 11 insurers that have joined into the multistate agreement to pay. According to John Chiang, the California State Controller, there have been 11 life insurance companies that have now signed the multistate settlements for unpaid benefits of up to $763 million. These settlements were the result of a half decade investigation conducted by Mr. Chiang and his team. This investigation looked into the compliance that the life insurance industry has maintained with the unclaimed property laws in California. What his research revealed was that companies…

Life insurance companies actively seeking out beneficiaries

May 29, 2013May 27, 2013 G. Turner

The industry is recommending that policyholders take actions to help to make sure death benefits are received. The life insurance industry has been facing some hurdles across many states as many companies have not made extensive efforts to locate the beneficiaries of policies belonging to individuals who have died. Insurers are now making a number of changes as states alter their requirements to find beneficiaries. However, the industry is also recommending that policyholders take a few extra steps to help to make sure that the money that they are paying…