A week from tomorrow, a handful of people will gather on the first floor of the Metropolitan Life Insurance Co. headquarters in lower Manhattan.“It’ll be mostly auditors who are there to certify the final count,” said Kevin Foley, a Met Life spokesman. For 10 million policyholders, including 229,000 in Virginia, Feb. 7 is the deadline […]
Attempts to sell South Korea’s crippled Kookmin Life Insurance Co. to New York Life Insurance Co. have collapsed.The government agreed in principle last summer to sell 51 percent of Kookmin Life to New York Life and 16 percent to the International Finance Corp., the private sector arm of the World Bank. The deal apparently unraveled […]
Life-insurance companies and disgruntled customers have been butting heads for years now over the issue of disclosure: Do companies give prospective policy buyers the information they need to make the right purchase? In Marion Superior Court on Tuesday, 25 central Indiana policyholders of Northwestern Mutual Life Insurance said the answer to that question, in their […]
Now that Indianapolis Life Insurance Co. policyholders stand to receive a financial windfall under a new plan to take the company public, their counterparts at American United Life Insurance might demand compensation as well, an insurance industry expert said. Indianapolis Life and AUL this week called off their plan to merge, and Indianapolis Life instead […]
Indianapolis Life Insurance Co. has called off its complicated merger with American United Life Insurance Co. and instead will be bought by an Iowa insurer for $368 million. Indianapolis Life said Wednesday it would merge with American Mutual Holding Co. and AmerUs Life Holdings Inc., American Mutual’s publicly traded subsidiary.Besides bringing what could be substantial […]