Category Archives: Life

AIG to avoid losing proposition of regulatory battle, CEO says

AIG to avoid losing proposition of regulatory battle, CEO says

June 5, 2015 by Sonali Basak

(Bloomberg) — American International Group Inc. (AIG), which was named a potential risk to the financial system by U.S. regulators, prefers to cooperate with watchdogs rather than to resist oversight, Chief Executive Officer Peter Hancock said.

“For the most part, where we encounter government, whether it’s in Japan, the U.K., at the federal level in the U.S. or at the state level, we see an alignment,” Hancock said Wednesday when asked at a conference if there was too much interference from regulators. “The benefits of having a collaborative relationship with all of the government agencies you operate with, in my view, far outweigh scoring points as to whether more or less government is good.”

Click HERE to read article

Originally Posted at LifeHealthPro on June 3, 2015 by Sonali Basak.

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Teach or Lose

If you think that annuities do not need an awareness month, try this Google search: “Should I buy an annuity?”

You will face a page of warnings and “helpful” advice. In fact, the first thing on the list is a guide from Forbes that pretends to be an unbiased information source. It even has the imprimatur of an Investopedia logo on it.

But it does not take long for the misinformation to start. This is the fourth paragraph:

When you think about it, investing your whole portfolio into a single investment doesn’t make sense for any financial instrument. These investors put themselves at considerable risk by placing all of their eggs in a single basket. They were also often whacked with innumerable hidden fees on their life savings. Many saw their monthly income drop as the investment markets took a tumble.

That is a perfect description of what an annuity is not. This would be true of stocks, mutual funds and other equities — pretty much anything but annuities. Security is precisely why someone buys an annuity.

Of course, variable annuities suffer in down markets, but those are securities, basically mutual funds in an insurance wrapper.

Fixed index annuities come closer to the Forbes description, but there is a floor against loss. Remember the “zero is the hero” rallying cry from the 2008 crash?

It gets goofier. The next paragraph uses that previous misinformation to launch into the land of fabrication.

Because of this situation, many states now regulate the percentage of annuities you can hold in your portfolio, and for good reason. If you’re thinking about putting annuities into your portfolio, first consider a limit on the total.

So, according to this, some states will tell me that I cannot put all my money into an annuity. I cannot find a reference to any state that would say individual consumers could not put all of their money into an annuity. Under what authority could they even do that? I can lose all my money in the stock market, but does any state tell me that I cannot put it all into equities? Well, maybe they should, according to this Forbes scare piece.

Of course, agents and advisors are under regulations and guidelines that would prevent them from advising clients to put all their money into an annuity. But even then, the advice would have to be either unsuitable for the client or not in their best interest to be considered improper.

This writer took an inaccuracy — that many saw their monthly income drop as the investment markets took a tumble — then went on to say, “Because of this situation …” leading to nonexisting regulation: “Many states now regulate the percentage of annuities you can hold in your portfolio.” Not only is this the first item in the search, but it is one of the most annuity-friendly pieces on the first page.

The next item, from CNN, highlights this piece of advice: “Typically you should consider an annuity only after you have maxed out other tax-advantaged retirement investment vehicles, such as 401(k) plans and IRAs.” Under the headline “How do I know if buying an annuity is right for me?” the article spends the first three paragraphs warning against annuities until the fourth, which recommends mutual funds.

The next article in the search is from Suze Orman. I don’t think it’s too much of a spoiler to reveal that she doesn’t have glowing things to say. Here is how she introduces the subject: “This is the great blanket investment to cover you when you’re about to retire, or retired, right? Not so fast.”

She goes on to talk about the horrible commissions and fees associated with annuities.

As you read all this and the ancillary arguments for the fiduciary standard, you would think every investment firm is run by monks with no financial concerns for themselves. Apparently, they seek only the financial well-being of their clients and accept mere pittance to stave off starvation.

But, in fact, we all know that they do pretty darn well. They make money even when clients lose theirs. The finance industry built its vast fortune on fees. And I think I saw a couple of movies that seemed to indicate they can get awfully rich by doing really slimy things.

This is not to say that the insurance industry is inhabited only by saints. It has its own problems and delinquents. But its main mission is to protect money. When clients buy an annuity, they are purchasing protection. That is the product and the business at their essence.

Some annuities and their sellers do go out of their way to make annuities sound like sexy investments. That has come back to bite many of those folks when regulators start nosing around. But, generally, companies have tightened their oversight. That was especially true with stronger suitability rules that went into effect after the Securities and Exchange Commission tried to regulate fixed index annuities with Rule 151A.

Companies have also reduced complexity. Frankly, even many agents didn’t understand some of the complicated products of 10 to 15 years ago.

In the end, a business is only as good as its ethics. If people are geared to separating clients from their money, they will figure a way around the rules.

At the center of this debate is an American public unprepared for retirement. In fact, people are pretty anxious about their later years, according to the 2015 Retirement Confidence Survey from the Employee Benefit Research Institute and Greenwald & Associates.

According to that survey, 65 percent of Americans said they were not at all confident or not too confident that they will  have enough money to live comfortably through their retirement years. Another 21 percent were somewhat confident. Only 12 percent were very confident.

That means about 88 percent of Americans were less than very confident that they will be able to live comfortably in retirement. That’s an extraordinary level of anxiety out there.

After all these years of a bull market and with all the advisors riding it, ordinary Americans are not much better off. We all know where that money is going — right to the top.

What is left for middle Americans? They are unlikely to have a pension. They might have a 401(k) in which they managed to save something. According to the U.S. Department of Labor, the median amount in a private retirement plan for workers in the public and private sectors is $ 44,000. To put that into perspective, a year in an assisted living facility for one person is $ 43,000, according to Genworth’s annual Cost of Care Survey.

Annuities can help Americans save and build on those savings. The products also offer choices for living benefit withdrawals along with other options.

You don’t need a half million dollars in investable assets to talk to an insurance agent. You just need to pick up the phone and call.

The insurance industry does not have all the answers, although it has some important solutions for consumers. But consumers are not getting straight information on these products when they seek it. Instead, they are being misled by a segment of the financial services sector for its own gain.

Obviously, we need greater annuity awareness. A couple of groups that we feature in this edition are focusing on the cause.

In fact, we at InsuranceNewsNet will be doing our part. We are starting an effort to get better information to consumers, call attention to the segment’s importance in the American economy and help uphold high standards within the industry. We will be rolling out those campaigns in the next few months.

With some of these efforts, maybe this time next year when people search for “Should I buy an annuity?” they will find a straight answer to help them write the next chapter of their lives.

What will you be doing to help the cause?

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FIAs At Age 20: Industry Leaders Weigh In

FIAs At Age 20: Industry Leaders Weigh In

February 10, 2015 by Linda Koco, linda.koco@innfeedback.com

Ease-of-purchase, simplicity, income planning — those are some of the themes that drive fixed index annuity (FIA) business at a carrier that has been in the FIA market for 19 years.

That carrier is Life Insurance Company of the Southwest (LSW), Addison, Texas. The company issued its first index annuity on April 7, 1996. It continues to write FIA business today, 19 years later, as an operating business of its parent, National Life, Montpelier, Vt.

Other players from that early FIA era have stopped writing FIAs in their own names, merged their FIA books with other carriers, and/or otherwise left the FIA business. That makes LSW the industry’s oldest FIA carrier still writing FIAs in its own name.

In a wide-ranging interview with InsuranceNewsNet, LSW president Wade Mayo and LSW executive vice president Carl Lutz provided some insight into their company’s staying power in the FIA market, and to the FIA industry in general.

The observations come on the occasion of the 20th anniversary of the debut of FIAs to the annuity-buying public. That debut occurred in 1995. That’s when Keyport Life launched KeyIndex, the nation’s first-ever FIA policy.

Keyport later merged into Sun Life Financial, but that first policy altered the product profile of the entire fixed annuity industry. It did this by offering a fixed annuity that offers upside potential with downside protection and featuring an interest crediting strategy that links to a financial index.

Today, the FIA business has grown into a multi-billion dollar industry. At year-end 2013, the industry’s total sales came to more than $ 38.6 billion, according to figures from Wink Inc.

The LSW story

“LSW is the largest provider of FIAs in employer-sponsored plans,” Mayo said. The company’s niche is selling FIAs to teachers and government workers in 403(b) and 457 plans, respectively.

In terms of industrywide sales, the FIA production of LSW combined with its parent put the company in the top third of the 40 players shown on Wink’s list of FIA writers for the first nine months of 2014. The carrier was in 13th place at that time.

The company’s lead product type is flexible-premium FIAs, which Mayo said are compatible with the monthly-pay nature of its market. It also sells single-premium FIAs and accepts “single sum” rollovers from other qualified plans. The primary distribution channel is independent agents and agencies in the tax-sheltered annuity market, but LSW also sells through career agents of its parent company, National Life.

This targeted structure sets LSW apart from the many FIA carriers that do brisk FIA business selling single-premium FIAs through insurance marketing organizations (IMOs) and other channels.

A formula that works

Mayo thinks the LSW approach helps explain why the carrier has stayed in business as an operating FIA company for the past 19 years. As he sees it, selling FIAs that are easy to sell and purchase (via monthly payments), simple to understand (not too many options and crediting approaches), and provide for lifetime income combines to create a formula that works.

Easy to sell and understand. “We don’t play in the IMO world,” Lutz said. The teachers and government workers market is a defined benefit type of market, he noted. The buyers tend to be risk averse. They also are receptive toward making periodic contributions (as opposed to paying single premiums). So the FIAs that LSW offers are not designed for sale on spreadsheets or based on commissions and rates, he said.

Instead, LSW keeps the focus on offering agents a way to differentiate themselves with a product that provides accumulation, and (once LSW added its living benefits rider) guaranteed lifetime income.

“Our intent is not to compete with equities,” Mayo said. Rather, he said the company focuses on offering opportunity to earn better interest than in a traditional fixed annuity if the buyer is willing to accept a little more risk.

“We say, ‘There won’t be gyrations or volatility, and there will be no downside such as a 40 percent decline in one year,’” Lutz added. “We show the value of the guarantee that the policies offer even when the equities market drops — when ‘zero is your hero.’”

Simple to understand. Innovation in the FIA business has been a constant through all the years. That has led a number of carriers to develop contracts that offer lots of index-linking options and interest crediting strategies.

The carriers that have these multi-featured products may be trying to differentiate themselves that way, Mayo speculated, “but I think that has obscured things.”

By comparison, he said LSW keeps its FIAs “as simple as possible.” For instance, he said the products credit interest annually, and they have a floor and cap but no spread loads. The policies offer only two indexes and two crediting options.

“We don’t compete on complexity,” Mayo said. “We don’t want our products to be seen as obscure.”

About the customized indexing strategies that some carriers are offering today, Mayo said he thinks they’ve been generated by back-casting to find the strategy that looks best. Over time, he predicted, “I think people will gravitate back to the S&P 500” and other index options that are simpler.

The specialty indexes are “something new for agents to talk about,” Lutz reasoned. “But I think the client’s money will go to where they get the best execution and the best value.”

Lifetime income. A variety of approaches is bound to occur in the guaranteed living benefits riders that FIA carriers are increasingly offering with their policies, Lutz predicted. The riders are attracting money to the contracts industrywide, he noted.

The LSW leaders definitely see this as an important innovation in the market. The company has been offering a guaranteed lifetime withdrawal benefit in the 403(b) market since 2007, and overall about 40 percent of policyholders have elected the rider, Lutz said. In 2014, most of LSW’s single-premium sales had the rider attached. The buyers tend to be aged 55 and up.

“Now people are finding that a product that delivers a paycheck for life is attractive,” Mayo commented. The riders plus the policy annuitization options built into the annuities provide people with range of guarantees and benefits from which to choose.

Mayo predicts FIA income features will continue to grow in popularity industrywide. With more and more baby boomers retiring, and more and more corporations no longer offering defined benefit pensions, “income planning has become a huge deal.”

The FIA as security battle

The Dodd-Frank Act of 2010 brought to an end the multi-year effort by the Securities and Exchange Commission to have FIAs treated as a security. Looking back on that battle, Mayo described the contentions that FIAs are securities as “bogus, disingenuous and with no substance.”

As he sees it, “a lot of companies in the mutual fund and variable annuity space didn’t want us to be in this business. So they produced theoretical complaints that were never proven out.”

Today, he said, “plenty of people still don’t want the competition, so they will always complain about something.” For instance, recent complaints have tended to deal with disclosure, suitability and other sales practice issues.

The Indexed Annuity Leadership Council, of which LSW is a member, is “all for disclosure, straightforward crediting methodologies, and we’re willing to complete,” he said. “Can we make it better? Sure, we’re happy to do that. It makes it a better market.”

But the sales practice issue not the same thing as taking issue with the product itself, he stressed. People should be able to construct portfolios they want with the products they want, he said, adding that “the closer to retirement they get, the more important it is.” There is room for FIAs in the market, he indicated, and based on LSW’s experience with the product, there is demand for it.

Originally Posted at Annuity News on February 4, 2015 by Linda Koco, linda.koco@innfeedback.com.

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John Hancock unveils new term life insurance product

IBR Staff Writer Published 12 February 2015

Manulife subsidiary John Hancock Insurance has introduced a new term life insurance product, in a bid to provide an affordable protection to consumers.

Life

Starting with face amounts of $ 250,000, John Hancock Term will allow consumers to plan for the unexpected and protect their individuals.

John Hancock Insurance president Michael Doughty said: “According to a recent industry survey, eighty-six percent of consumers who believe they need life insurance haven’t purchased it because they think it’s too expensive.

“We’ve redesigned our term insurance to help change these perceptions and make it financially easier for more consumers to take that important step toward protecting their future.”

The new term life insurance product will provide protection for 10, 15 or 20-year durations, according to John Hancock.

Based on the varying needs of its clients, it will also provide a flexible conversion option helping them to convert to one of the company’s permanent life policies.

The company also added a new interactive tool ‘UCheck’ to its illustration system that will allow producers to quickly and easily estimate the risk class of their term life customers.

In addition, John Hancock provides a wide range of diverse permanent insurance products such as universal life insurance, indexed universal life insurance and variable universal life.


Image: John Hancock’s new term life insurance product provides protection for 10, 15 or 20-year durations. Photo: courtesy of cooldesign/ FreeDigitalPhotos.net.

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IBR – Life Insurance & Pensions News

Happy 20th, FIAs!

Happy 20th, FIAs!

February 10, 2015 by Steven Morelli, steve.morelli@innfeedback.com.

Fixed index annuities want what any 20-year-old desires: Acceptance and respect.

FIAs still carry that bad-boy taint from years back, from, you know, the experimenting years. Yeah, things got a little complicated back then. Maybe they said some things they shouldn’t have. But we all grow up, right?

We do, but many of us also have trouble outgrowing certain bad tendencies.

It seems like just yesterday that a new, fresh annuity showed up singing a different tune. Before then, annuities were meant to be unexciting. When talking to clients about guaranteeing a safe income in retirement, “Woooooo Hoooooooo!” was not likely to enter into the conversation.

Then something interesting started happening on Feb. 15, 1995. That was when Keyport Life started selling KeyIndex, a product that seemed too good to be true: an annuity that could guarantee a floor, but also give clients upside potential based on the S&P 500.

In Keyport’s case, it was too good to be sustainable. John Olsen sold a few of them in the late ’90s.

“Horribly underpriced product,” Olsen said. “It was 100 percent participation with a 150 basis-point spread, which is free money.”

It meant that if the market went up 22 percent, the contract holder would get 20.5 percent. The first FIA ever sold did well for the 60-year-old client in Massachusetts. The $ 21,000 premium grew to $ 51,779 in five years, according to “Index Annuities: A Suitable Approach,” a book Olsen wrote with Jack Marrion.

By the time that five-year term was up, the company was running into reserving trouble. It was eventually absorbed by Sun Life in 2003. Many of the companies that sold the first FIAs are not among the living. But the idea gained more life year after year. InsuranceNewsNet and other news outlets trumpeted one record-breaking quarter after another.

These days, the product’s strong showing is a bright spot in what had otherwise been some dismal quarters following the 2008 crash.

Obviously, the perennially low interest rates have bedeviled the insurance industry in many ways, particularly in its ability to offer an attractive rate on annuities. FIAs can’t promise the high-percentage growth of the equities that they are most distantly linked to, but FIAs are usually among the best-looking options within the sensible-shoe crowd of CDs and bonds.

That rate edge might only be part of the reason for the product’s runaway success. The rest has much to do with marketing. Companies, marketing organizations and producers have done very well to attract buyers with creative messages.

Sometimes those messages and products have gotten a little too creative. Olsen said some companies were trying to deliver on an impossible promise.

“They were trying to be all things to all people – and they threw in the kitchen sink,” Olsen said. “They were trying to insure against mutually contradictory outcomes. One of which cannot possibly occur. They were saying if you keep it for 20 years, you can have the premium back, and if you died, you can have it back in a death benefit. You can’t do both.”

That promise led to some “creativity” in product structure and selling. Aggressive marketing led in 2005 to the Notice to Members (NTM) 05-50 from FINRA forerunner National Association of Securities Dealers (NASD). It had cautioned against marketing phrases such as “Growth Potential Without Market Risk” and a “Win/Win Investment Vehicle.” In truth, many of the examples did not look all that misleading. After all, the products did offer the potential for growth without the risk of being directly in the market.

Perhaps enthusiastic marketing itself was “tawdry” for insurance, the province usually of boiler-room, penny-stock hustlers. Maybe the kneejerk of turf protection from the securities world played a part as well. Either way, the products, then known as equities-indexed annuities, were catching a bit of unwanted attention.

Index annuities became convoluted, largely in order to offer tantalizingly high rates. To invest long term and ensure the higher rates, insurance companies had to discourage contract holders from surrendering annuities early. Enter complicated products with 15-year surrender periods and double-digit penalties.

Combine that with some aggressive selling to prospects in their 70s and 80s and you had the makings for public revulsion. That helped propel the Securities and Exchange Commission in 2008 to establish Rule 151A, which claimed FIAs as securities.

In a remarkable lobbying campaign, the industry fought back to not only have Congress toss the rule but also to have a federal court rule against it. It was a double whammy that whacked a silver stake into the rule.

Then the recession once again showed the product’s resiliency and value. Companies and marketers also learned to simplify the annuities and message.

Not all of them, of course. These days, organizations such as the National Association for Fixed Annuities (NAFA) that fought for FIAs are concerned new creative products and messages will again draw reactionary rulemaking. The latest is “uncapped” strategies that have caught some consumers’ eyes. Annuity analysts such as Sheryl Moore of Moore Market Intelligence say that those products are built so they will have the same result as pretty much any other FIA. Regulators are already issuing warnings.

The regulatory warnings are unlikely to build into anything like the storm that led to 151A, but they are not helping the products just when they are needed most.

In this magazine edition is a main feature showing the huge amount of money that consumers are trying to preserve for retirement – about a half a trillion dollars each year. Annuities should be the leading method for people to ensure that they do not outlive their money. That, after all, is the annuity’s reason for being.

But consumers are frightened of them. And even when they get them, very few hold them to annuitization.

How will the FIA be taken seriously as a retirement vehicle? The same way in which any 20-year-old shakes a bad rep: Make clear promises that they keep, time after time, year after year.

Originally Posted at InsuranceNewsNet Magazine on February 2015 by Steven Morelli, steve.morelli@innfeedback.com..

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These are Americans’ top 7 income sources

These are Americans’ top 7 income sources

February 10, 2015 by Warren S. Hersch, whersch@SummitProNets.com

In 2012, U.S. taxpayers received $ 612 billion from pensions and annuities, plus $ 231 billion from individual retirement accounts, new research shows.

The Tax Foundation unveils this finding in a survey of sources of income in 2012, as reported by taxpayers on lines 7 to 22 of their 2012 Form 1040. The report’s authors undertook the research to better understand the makeup of the government’s revenue base, and to learn how rewards to economic activity are distributed in the U.S. economy. Click HERE to read…

Originally Posted at LifeHealthPro on February 6, 2015 by Warren S. Hersch, whersch@SummitProNets.com.

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Jumping on the FIA Birthday Bandwagon

I read the first in this list, Mr. Morelli’s editorial, yesterday. The lead is that “Fixed index annuities want what any 20-year-old desires: Acceptance and Respect.” The piece acknowledges the “bad boy taint from years past” but then appears to suggest that the taint may not be as far in the past as that line suggests: “Sometimes those [marketing] messages and products have gotten a little too creative.” “Some companies were trying to delivery on an impossible promise.” “Aggressive marketing.” “Aggressive selling to prospects in their 70s and 80s and you had the makings for public revulsion.”

There is a mention of “uncapped” strategies that are the latest marketing concern he correctly notes that this marketing is getting attention from regulators. See Iowa Bulletin 14-02 dated September 15, 2014. Morelli says that analysts such as “Sheryl Moore of Moore Market Intelligence say that those products are built so they will have the same result as pretty much any other FIA.” If FIAs do want acceptance and respect, then the “aggressive” and “creative” marketing has to stop.

To “shake the bad boy rep,” FIAs have to be marketed in a fair and balanced way, making clear what they can and cannot do, what they offer protection from and what the costs of that protection are. The bad boy rep can, perhaps be turned around, but it will mean that those who create the “aggressive” and “creative” marketing material have to stop and they have to let the product become boring. If bad boys do change, they may be perceived as boring. But it isn’t only the products that have to shake the rep, it is the people who sell them. If the product is going to get real respect in the next 20 years, the people who create marketing materials about FIAs and the people who sell FIAs are going to have to come to terms with a little boredom.

Morelli concludes: “How will the FIA be taken seriously as a retirement vehicle? The same way in which any 20-year-old shakes a bad rep: Make clear promises that they keep, time after time, year after year.” That is true for the products and also for the insurance producers selling the product, though I would modify it a bit: Give real information that is fair, balanced, complete and accurate, time after time, year after year. Then perhaps the FIA will grow into a mature and respectable adult.

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Leading Index Annuity Provider Announces the Choice Series

Leading Index Annuity Provider Announces the Choice Series

February 5, 2015 by Heather Gierstorf

WEST DES MOINES, Iowa–(BUSINESS WIRE)–Feb. 5, 2015– American Equity Investment Life Insurance Company, a leading underwriter of index and fixed rate annuities, announced the addition of a new Fixed Indexed Annuity Series to its competitive portfolio. These new products, the Choice Series, add to the Company’s robust annuity product line, which has established American Equity as one of the top carriers in the annuity industry.

“We are excited about our new Fixed Indexed Annuity products,” said Ron Grensteiner, President of American Equity. “The addition of the Choice Series product line provides our clients with even more retirement options and flexibility. Specifically, this series caters to registered representatives within the broker-dealer market, but can be sold by any of our contracted agents. As we expand our offerings in both the broker-dealer and independent agent channel, we remain committed to superior service and product integrity synonymous with American Equity.”

The Choice Series:

The Choice Series – available now – allows client flexibility with 6, 8 or 10 year surrender schedule options, and offers competitive rates with five interest crediting methods. Additionally, it has a competitive optional Lifetime Income Benefit Rider which includes two payout options.

“A guaranteed lifetime income for our contract owners is very important to American Equity,” said Kirby Wood, Senior Vice President and Chief Marketing Officer at American Equity. “Americans are living longer and we want to provide products and options that are reflective of the longevity of Americans today. We can help contract owners outlive their worries – not their money.”

ABOUT AMERICAN EQUITY
American Equity Investment Life Insurance Company is a full-service underwriter of fixed annuity and life insurance products with a primary emphasis on the sale of index and fixed rate annuities. Headquartered in West Des Moines, Iowa, American Equity Investment Life Insurance Company is committed to providing products with integrity as well as superior service to the agents they partner with and their policyholders. For more information, please visit www.american-equity.com.

Source: American Equity Investment Life Insurance Company

American Equity Investment Life Insurance Company
Heather Gierstorf, 515-457-1788
Assistant Vice President – Communications

hgierstorf@american-equity.com

Originally Posted at American Equity on Feburary 5, 2015 by Heather Gierstorf.

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Enstar to buy Nationale Suisse’s Belgian insurance subsidiary

IBR Staff Writer Published 06 February 2015

Bermuda-based Enstar Group has signed an agreement to acquire Belgian insurance firm Nationale Suisse Assurance (NAB), for around €33.7m ($ 38.5m).

NAB provides non-life specialty insurance and life insurance services in Belgium.

As part of the deal, Enstar subsidiary Torus Insurance will acquire two underwriting agencies from NAB, including Vander Haeghen & C° and Arena.

Vander Haeghen & C° offers luxury car and other specialist insurance products, while Arena is a specialized sports club insurance agency.

The deal will also include the right to renew certain business currently underwritten by NAB, including the business directed by Vander Haeghen & C° and Arena, as well as other select lines.

Subject to regulatory approvals and satisfaction of various closing conditions, the transaction is expected to be completed in the second quarter of 2015.

Enstar, through its operating subsidiaries, manages diversified insurance businesses in Bermuda, the US, the UK, Continental Europe and Australia.

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IBR – Life Insurance & Pensions News

The ethical case for company-owned life insurance

The ethical case for company-owned life insurance

February 5, 2015 by John Sullivan

It’s an old observation but still apropos; truth in advertising would dictate we call it death insurance, not life insurance. You’re insuring against the unexpected and unwarranted onset of death. Maybe an annuity could really be called life insurance, since it’s attempting to ensure against living too long—or rather outliving one’s financial resources. Click here to read...

Originally Posted at LifeHealthPro on February 4, 2015 by John Sullivan.

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