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10/12/2008 News For:

The Life Insurance

Company offering free life insurance  Springfield-based Massachusetts Mutual Life Insurance Co. plans to issue $50,000 term life insurance policies to benefit children of eligible working families in Connecticut at no cost to the families, company officials said Thursday.

A.M. Best Revises Issuer Credit Rating Outlook to Negative and Withdraws Ratings of MAPFRE Life Insurance Company   OLDWICK, N.J.----A.M. Best Co. has affirmed the financial strength rating of B++ and issuer credit rating of "bbb +" of MAPFRE Life Insurance Company . The outlook for ICR has been revised to negative from stable, and the outlook for the FSR is stable.

Japan's Yamato Life Insurance goes bankrupt: Official  Japan's Yamato Life Insurance will file for bankruptcy protection, becoming the first Japanese insurer to fail amid the global credit crisis, the financial watchdog said on Friday.

Yamato Life customers to get help  Yamato Life Insurance Co.'s decision to file for bankruptcy protection sent shock waves throughout the industry Friday as it became the first major victim in Japan of the global financial crisis. But industry sources said policyholders shouldn't panic because their policies are guaranteed by an industry safety net. It is the industry's first bankruptcy in seven years. Read the full story ...

Yamato Life Files for Bankruptcy Protection, Nikkei Says  Oct. 10 -- Yamato Life Insurance Co., a Japanese insurer, filed for bankruptcy protection today, the Nikkei newspaper said on its online service.

Ohio shooting puts face on foreclosure crisis  By the time deputies came to escort Addie Polk out of her home of 38 years, the 90-year-old had taken out her life insurance policy and placed it next to her pocketbook and keys in the neatly kept house.

Japanese insurer Yamato Life collapses  Yamato Life Insurance on Friday became the first direct financial sector casualty in Japan of the US subprime mortgage crisis, filing for bankruptcy with Y269.5bn $2.7bn in liabilities.

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Japan?s Yamato Life files for bankruptcy  TOKYO: Yamato Life Insurance Co. on Friday filed with the Tokyo District Court for bankruptcy protection due to losses related to the U.S. subprime crisis. ...

(AFX UK Focus) 2008-10-10 02:32 Japan's Yamato Life fails with $2.7 bln in debts  TOKYO, Oct 10 Reuters - Unlisted midsized Japanese insurer Yamato Life Insurance Co said on Friday it had failed with 269.5 billion yen $2.7 billion in debt due to unexpected losses on securities holdings from the market turmoil.