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US Business

Initial unemployment claims edged down to 1.3 million in the latest week and workers receiving benefits eased slightly to 18.1 million, signs the labor market continues to heal.
Posted: July 9, 2020, 1:13 pm
The two airlines have temporarily canceled flights to and from Hong Kong after the city said all crew members arriving there would have to undergo Covid-19 tests.
Posted: July 9, 2020, 12:09 pm
Walgreens Boots Alliance said it filled fewer prescriptions in the U.S. during its latest quarter and demand fell off in its international business as consumers stayed at home due to the spread of the coronavirus.
Posted: July 9, 2020, 11:51 am
Vaccine company Novavax traded at just 36 cents a share last May. The new coronavirus changed Novavax’s financial future while delivering a windfall for an investor who made a recent big bet on the company.
Posted: July 9, 2020, 11:41 am
Since the coronavirus pandemic began, companies looking to bolster their balance sheets have rushed to sell stock in record amounts. The result has been a resurgence in fees to Wall Street banks—a bounceback bankers and investors say could last through the fall.
Posted: July 9, 2020, 11:00 am

Life Insurance – InsuranceNewsNet

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The Life Insurance and Annuities Committee will vote on language proposed by the American Council of Life Insurers to shore up Actuarial Guideline 49 and bring IUL illustrations more in line with actual returns. A consumer advocate is urging the committee to substitute tougher language.

The post NAIC Panel To Vote On AG 49 IUL Changes appeared first on InsuranceNewsNet.

Author: John Hilton
Posted: July 9, 2020, 10:15 am

The class action was filed in June 2016, in the Western District of Missouri by Michael Vogt and other individuals who owned universal life insurance policy form 94030 issued by State Farm. The lawsuit alleged that State Farm breached the terms of the policies by overcharging policyholders through cost of insurance provisions causing policies to lose value...

The post Court Affirms $34.3M Jury Verdict Against State Farm Life Insurance appeared first on InsuranceNewsNet.

Author: user
Posted: July 8, 2020, 8:00 pm

NEW YORK& HAMILTON, Bermuda---- KKR& Co. Inc. and Global Atlantic Financial Group Limited today announced the signing of a strategic transaction where KKR will acquire all of the outstanding shares of Global Atlantic, a leading retirement and life insurance company. Global Atlantic serves more than two million policyholders through its retirement and life...

The post KKR To Acquire Global Atlantic Financial Group appeared first on InsuranceNewsNet.

Author: user
Posted: July 8, 2020, 12:00 pm

Prudential Financial is pulling a popular guaranteed universal life product from the market and one industry analyst expects many more products to join it on the sidelines. The problem is ultra-low interest rates make it difficult to support guaranteed universal life designs.

The post Prudential Tips ‘First Domino’ By Suspending GUL Product: Analyst appeared first on InsuranceNewsNet.

Author: John Hilton
Posted: July 7, 2020, 7:51 pm

-Foresters Financial™ today announces it is now one of very few industry players to offer standalone Children's Whole Life Insurance, with the launch of BrightFuture, its first product designed specifically for those currently under the age of 18 1. Available from July 5, 2020, a single BrightFuture application can be used to apply for coverage for up to six...

The post Foresters Financial Launches Children’s Whole Life Insurance appeared first on InsuranceNewsNet.

Author: user
Posted: July 6, 2020, 9:00 pm