The ongoing recession is taking a toll on the U.S. workers’ compensation industry, but that bane is not without a boon as well. Job cuts, particularly in construction and manufacturing, are putting downward pressure on revenue from written premiums. “It’s certainly clear that the premium base will be declining,” Harry Shuford, chief economist for the [...]
Despite a slump in the U.S. housing market, MetLife Inc. is seeking to expand its bank by delving into the residential mortgage origination business with help from its well-known brand. But the endeavor may be rife with risks as making loans isn’t core to the business of the biggest U.S. life insurer, an expert said [...]
Despite a slump in the U.S. housing market, MetLife Inc. is seeking to expand its bank by delving into the residential mortgage origination business with help from its well-known brand. But the endeavor may be rife with risks as making loans isn’t core to the business of the biggest U.S. life insurer, an expert said [...]
Given the unprecedented capital markets volatility in 2008, variable annuity operating trends are likely to be negative, whereas fixed annuities— particularly traditional fixed products—are expected to improve, according to a new A.M. Best Co.’s special report featured in BestWeek U.S./Canada.
Among the findings, variable annuity sales trended downward through mid-year 2008, on both a gross and [...]
Video and a transcript of a lengthy interview with former American International Group, Inc. (AIG) CEO & Chairman Maurice R. (“Hank”) Greenberg that was released last week to BestWeek subscribers is now available to the public at http://www.bestweek.com or http://www.ambest.com/multimedia/greenberg08.html.
In the seven-page interview, Greenberg critiques the government’s efforts to bail out the giant insurer, which [...]
Democratic Sen. Barack Obama appears to be making inroads among professionals in the heavily Republican insurance industry, according to a poll conducted by BestWeek U.S./Canada.
In the final pre-election online survey of nearly 1,000 industry professionals, the Illinois senator gained 8.7 percentage points in favorability from his standing in mid-September.
The survey showed Republican John McCain still [...]
