Whole Life Insurnace

Whole Life Insurnace
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11/11/2008 News For:

Whole Life Insurance

Settlement ends suits over General American Life Insurance's collapse  Goldman Sachs will pay $100.5 million to settle a lawsuit over the 1999 collapse of Missouri-based General American Life Insurance Co., once one of the country's biggest life insurers.

MIB Life Index Reports North American Life Insurance Activity Off 1.8% in October   North American application activity for individually underwritten life insurance was down -1.8% in October year-over-year, according to the MIB Life Index. Year to date U.S. and Canadian activity remained stable off -1.9%, compared to the same ten months last year.

China Life sees investment opportunities overseas  SHANGHAI, Nov 12 Reuters - China Life Insurance Co <601628.SS> sees investment opportunities emerging overseas as foreign governments act to resolve the global credit crisis, newspapers quoted a senior company official as saying.

Insurance giants losing ground  CHENNAI: With new kids on the block breathing down their neck, insurance giants are increasingly finding it tough. A look at the market share shows that Life Insurance Corporation, ICICI Prudential and Bajaj Allianz have lost significantly.

(AFX UK Focus) 2008-11-11 15:52 UPDATE 1-Goldman Sachs bearish on U.S life insurance sector  Recasts, adds details Nov 11 Reuters - U.S. life insurers will see continued asset deterioration in the next 12 to 18 months and need to raise incremental capital, said a Goldman Sachs analyst, who assumed the sector coverage with a bearish view. Shares of all major life insurers fell in early trade on the New York Stock Exchange following the report.

CNP Owners Back Cash Bid for Natixis Insurance Unit, Echos Says  Nov. 10 -- CNP Assurances SA, France's largest life insurer, has the support of its shareholders for a cash bid for the insurance unit of Natixis SA, Les Echos reported, citing an unidentified person.

Genworth Financial shares plunge on downgrade   Shares of Genworth Financial Inc. sank to the stock's all-time low Tuesday, a day after Moody's Investors Service cut one of the insurance company's credit ratings and downgraded the financial strength of its life insurance subsidiary.

China Life eyes stakes in lenders  China Life, the country's largest life insurer, will acquire stakes in unlisted companies, particularly commercial banks and infrastructure companies, a company executive said yesterday.

Insurance / Perspectives  Last week, in the first part of this interview, BNamericas spoke to Antonio C?ssio dos Santos to discuss Brazilian private pension and life insurance federation FenaPrevi's priority projects for the year, which included passing microinsurance legislation and building a comprehensive actuarial data management system unique to the country.

Moody's cuts ratings of Genworth Financial   Credit ratings agency Moody's Investors Service on Monday cut its senior debt rating on Genworth Financial Inc. as well as the financial strength rating of its primary life insurance subsidiaries as credit market troubles affect the firm's profitability.