French reinsurer SCOR Group announced that it is “disposing of its US Fixed Annuity business through the sale of its subsidiary Investors Insurance Corporation (IIC) for $55 million.” The entire share capital of IIC will be acquired by Athene Holding Ltd. IIC is a Life insurer operating in the US, which specializes in the sale [...]
Buffett’s Berkshire Buys Life Reinsurance Unit From Sun Life – Bloomberg
Image via Wikipedia Berkshire Buys Life Reinsurance Unit From Sun Life By Andrew Frye and Sean B. Pasternak – Oct 27, 2010 12:12 PM MT Berkshire Hathaway Inc. agreed to buy a business backstopping life insurance policies from Sun Life Financial Inc. as Chairman Warren Buffett increases bets on reinsurance. The business has about 70 [...]
Gordon Nixon, CEO, Royal Bank Of Canada | Analyst Wire | Find Articles at BNET
Gordon Nixon, CEO, Royal Bank Of Canada (This is not a legal transcript. Bloomberg LP cannot guarantee its accuracy.) GORDON NIXON, CHIEF EXECUTIVE OFFICER OF ROYAL BANK OF CANADA, TALKS TO ERIK SCHATZKER ABOUT THE CANADIAN BANKING INDUSTRY MARCH 24, 2010 SPEAKERS: GORDON NIXON, CHIEF EXECUTIVE OFFICER, ROYAL BANK OF CANADA ERIK SCHATZKER, BLOOMBERG NEWS [...]
RBC CEO: ‘Unhealthy Relationship’ Between Banks, Regulators – WSJ.com
OCTOBER 26, 2010, 11:43 A.M. ET RBC CEO: ‘Unhealthy Relationship’ Between Banks, Regulators NEW YORK (Dow Jones)–Royal Bank of Canada (RY) chief executive Gordon Nixon expressed concern about “the unhealthy relationship” between the financial industry and regulators Tuesday. In a panel discussion at The Buttonwood Gathering that focused on U.S. banking regulation, Nixon said regulators [...]
What is Reinsurance: Answers for RBC Sale of Liberty Life to Athene Holdings
Reinsurance means one insurance company purchasing coverage from a second insurance company for a risk that the first insurance company is insuring. The best way of explaining this is through an example. Big City Life Insurance Company has written a $10 million life insurance policy on the life of Mr. Moneybags, the industrial tycoon. Big [...]
Athene Holding Ltd. to acquire Liberty Life Insurance Company
Oct. 22, 2010 (Canada NewsWire Group) – GREENVILLE, SC, Oct. 22 /CNW/ – Royal Bank of Canada (RY on TSX and NYSE) today announced that Athene Holding Ltd. has agreed to acquire Liberty Life Insurance Company, the U.S. life insurance business of RBC Insurance for US$628.1 million. The transaction is subject to regulatory approvals and [...]
American Equity and Athene Life Re
WEST DES MOINES, Iowa, Feb 24, 2010 (BUSINESS WIRE) — American Equity Investment Life Holding Company (NYSE: AEL), a leading underwriter of index and fixed rate annuities, today reported 2009 fourth quarter operating income1 of $28.7 million, or $0.48 per diluted common share, an 86% increase over adjusted2 fourth quarter 2008 operating income of $15.4 [...]
A.M. Best Downgrades Ratings of Liberty Life Insurance Company; Maintains Under Review with Negative Implications – MarketWatch
A.M. Best Downgrades Ratings of Liberty Life Insurance Company; Maintains Under Review with Negative Implications OLDWICK, N.J., Oct 25, 2010 (BUSINESS WIRE) — A.M. Best Co. has downgraded the financial strength rating to A- (Excellent) from A (Excellent) and issuer credit rating to “a-” from “a” of Liberty Life Insurance Company (Liberty Life) (Greenville, S.C.). [...]
FT.com / Companies / Financial Services – Old Mutual sheds US life unit
This is old new, but indicative of the challenges facing the U.S. fixed index annuity business with the compression of spreads. By Philip Stafford Published: August 6 2010 09:26 | Last updated: August 6 2010 22:40 Old Mutual has sold its US life business to hedge fund Harbinger Capital for $350m (£219m) in a deal [...]
Athene Life Re Ltd. – Reinsurance for Life and Annuity Insurance Companies
Athene Life Re Ltd. (“Athene”) is a Bermuda based subsidiary of Athene Holding Ltd., focused on the growing retirement services market. Athene’s core business is fixed annuity reinsurance and its primary customers are life and annuity insurance companies. Specific liabilities reinsured include equity-indexed, multi-year guarantee and traditional one-year guarantee fixed deferred annuities, immediate annuities and [...]
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American Equity Lifetime Income Rate Changes — Effective June 3rd, 2013
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Great American Revised Fixed-Indexed Annuity Rates
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Genworth Update: NAIC Suitability Model Regulation Requirements of Producers
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Great American Revised Fixed-Indexed Annuity Rates
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10 Keys To Becoming A Successful Financial Advisor
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American Equity Lifetime Income Rate Changes — Effective June 3rd, 2013