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Quarterly annuity sales exceed $100 billion in all four quarters – LIMRA
In the fourth quarter, US annuity sales totaled $100.6 billion, a 13% decline from the record-setting fourth quarter of 2023. Lower interest rates contributed to declines in fixed-rate deferred (FRD) and income annuity sales, affecting overall results. Source link
TMHCC CEO named APIW Insurance Woman of the Year
Her career began as an actuary at AIG before moving into underwriting, where she held senior positions, including president of American Home Assurance Company. She later joined Praetorian Insurance Company, which was acquired by QBE, where she served as president of QBE Specialty and chief actuary for QBE’s Americas division. Before TMHCC, she was president…
Consumer group sues CDI over withheld consumer complaint data
Despite these criticisms, the CDI points to its Consumer Complaint Center where consumers can file complaints and track their status. Additionally, CDI said that the Center for Data Insights and Innovation (CDII) publishes annual reports on health care complaints made by California consumers, including those submitted to the CDI. Source link
The uphill battle for small business workers’ comp: Why affordability and fraud are top concerns
“Workers’ compensation was already, in my opinion, one of the most complex lines of business to write,” she said. “Because the line is inextricably linked to the economy, drivers of profitability are not easily controlled or mitigated. In addition, its long-tailed nature brings uncertainty around the cost of goods sold, and the statutory benefits provided…
Ardonagh Group launches new division
The launch comes as Ardonagh reported strong financial results for 2024. The company reported adjusted EBITDA of $683.4 million, up 31.2% from a year ago, while reported income rose 24% to $1.98 billion. The company also increased its workforce by nearly 1,700 employees and launched its first graduate scheme. Source link
LIC Bonus Rates -2022 – 23 |Explained with Charts and Illustrations
Loyalty additions are paid as a one-time benefit in some policies in lieu of a simple reversionary bonus (SRB). The main difference is that, unlike the simple reversionary bonus, which becomes a part of the policy benefits as and when it is declared, loyalty additions shall be available to the policyholder only at the time of exit from the policy….