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10/12/2008 News For: Whole Of Life Assurance PoliciesCompany 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. 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 ... Japan's Yamato Life file for bankruptcy in Tokyo HONG KONG MarketWatch -- Japanese insurer Yamato Life Insurance Co. filed for bankruptcy protection from creditors Friday, reportedly becoming the first in the Japanese industry to do so in seven years. Yamato Life files for bankruptcy Yamato Life Insurance Co., a time-honored insurer based in Tokyo, filed for bankruptcy protection Friday due to losses related to the U.S. subprime crisis, becoming the first Japanese financial institution to fail amid the ongoing global financial turmoil. Yamato, which went belly up with debts of ?269.5 billion, asked the Tokyo District Court to invoke the 2000 fast-track law for the ... S&P Revises U.S. Life Insurance Sector Outlook To Negative S&P Revises U.S. Life Insurance Sector Outlook To Negative Yamato Life Files for Bankruptcy, Citing Investments (Update2) Oct. 10 -- Yamato Life Insurance Co. , a 98- year-old Japanese insurer, filed for court protection from creditors in the nation's first bankruptcy in the industry in seven years, with debts exceeding assets by 11.5 billion yen $116 million. 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. 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. Japan's Yamato Life Insurance files for protection: report Japan's Yamato Life Insurance is in the process of filing for bankruptcy protection, Jiji Press reported Friday. Yamato Life Insurance collapses amid falling stock prices Yamato Life Insurance Co., a nearly century-old insurer that tried to resuscitate its business by gambling on high-risk financial products, collapsed Friday due mainly to plunges in stock prices, officials said. |