Life Insurance Roundup, July 15, 2016

Life insurance benefit for Russian lawmakers raised 2.5-fold – report — RT Russian politics

Benefit payments in state-sponsored life insurance for Russian State Duma MPs have been increased 2.5 times, reaching almost 1 million rubles (US$15,800) for an ordinary MP, a popular daily reported, citing the official government tender website. 

Life insurance isn’t taboo. It’s a creative tool – The Globe and Mail

Trust is not easily earned these days. There’s no place where this is more true than in the financial services industry. Take banks, for example. 

Unclaimed Life Insurance Benefits

CHICAGO Beneficiaries of unclaimed life insurance policies already have received billions of dollars – and others could be in store for some unexpected cash. 

Kansas City Life Insurance Company Changes Auditors

Kansas City Life Insurance Company (the “Company”) (OTCQX: KCLI) announced today that it has engaged BKD, LLP (“BKD”) as its independent auditor for 2016. BKD will replace the Company’s previous independent auditors, KPMG LLP (“KPMG”). 

ICICI Pru Life to file for Rs 4,700-cr IPO next week | Business Standard News

ICICI Prudential Life Insurance is to file for an initial public offering (IPO) of shares with the regulatory authorities as early as next week, said three people with knowledge of the development.  

No more procrastination of claim payments : IRDAI-directive to life insurance companies

IRDAI has directed life insurance companies not to withhold or delay payment of claims when the policyholder/claimant expresses unwillingness or has objections to executing the advance discharge voucher or to accept the amount. 

Information note on non-life insurance products: over-simplification? Article published in Italian on Insurance Daily on July 12, 2016 N. 966 | DLA Piper – JDSupra

The consultation period on Document no. 10/2016 (the Document) ended on June 20. IVASS (the Italian Insurance Supervisory Authority) had opened a public consultation on the amendments to Regulation no. 35/2010 on the information and publicity obligations related to insurance products (the Regulation). 

Merger with HDFC Life: Sud may quit as Max Life chief | business newspaper | Hindustan Times

Max Life insurance executive vice-chairman and managing director Rajesh Sud could step down in case the insurer is merged with HDFC Life. The new head of the merged entity will be from HDFC Life. 

Metropolitan Life Insurance Co. NY Cuts Stake in MasterCard Inc. (MA) – BBNS

Metropolitan Life Insurance Co. NY cut its position in MasterCard Inc. (NYSE:MA) by 2.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 

Metropolitan Life Insurance Co. NY Cuts Position in Celgene Corp. (CELG)

Metropolitan Life Insurance Co. NY decreased its position in shares of Celgene Corp. (NASDAQ:CELG) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 

Uk Ifa Launches New Life Cover Service For British Expats – International Adviser

Unusual Risks, a UK-based mortgage and insurance advice firm has launched a new service aimed at providing life insurance to British expat living abroad. 

Analysts Expect Sunnier 2Q For Life Insurers – InsuranceNewsNet

Fewer deaths, higher fees and higher investment income are expected to help life insurance companies post better results in the second financial quarter than they did in the first quarter, a pair of Wall Street analysts said. 

Listing of life insurance biz a boost for ICICI Bank | Business Standard Financial X-Ray

The ICICI Bank stock has risen seven per cent in the past five trading sessions compared to zero-three per cent gains for private sector peers. 

Financial Standard – Nationals senator not giving up on life insurance investigation

Senator John Williams said regardless of what Parliament ultimately looks like after a hotly-contested election, he will prioritise continuing the Senate Economics References Committee’s life insurance industry investigation. 

G.S. Wilcox & Co. arranges loans through Kansas City Life Insurance Co. | Real Estate Weekly

G.S. Wilcox & Co. secured financing of $19,500,000 for two New Jersey industrial properties. 

WATCH: Real-life insurance company protects you from superheroes | Robot 6 | The Comics Culture Blog

“Mercury Insurance covers it all,” according to their website, including — apparently — superheroes. In a thirty-second advertisement published to YouTube, the insurance company claims to cover collateral damage caused by caped crusaders. 

New life insurance premiums up 33% in Apr-Jun

First year insurance premiums in the life insurance industry increased by 33% in value terms in the first three months of FY17, while they registered a marginal growth of 2% in the number of policies, reports a leading financial newspaper. 

Ulips boost life insurers premium growth 33% in Q1 – The Financial Express

The Life insurance industry witnessed a strong growth in new business premium during the first quarter of current financial year. Data from the Life Insurance Council shows that new business premium rose around 33.2% year-on-year for the quarter ended June 30, 2016. 

Letters: Uni funding, insurance and super |

Geoff Hanmer states that the federal government has “nothing left in the tank to offer universities for their capital funding needs” (“The efficient source of funds that universities don’t tap“, July 11). 

Kemper’s Life Business Receives Top Performer Award for Sixth Consecutive Year | Business Wire

Kemper Corporation (NYSE: KMPR) announced today that the Ward Group named Kemper’s subsidiary, United Insurance Company of America, to the 2016 Ward’s 50 Top Performers list of life insurance companies. 2016 marks the sixth consecutive year that Kemper’s life business achieved this status. 


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