Insurance
Ensuring Insurance’s Next Generation
Insurance is typically not viewed as a young man’s game. And there’s some truth to that stereotype, says Ben Cavallo, owner of Mansfield-based Cavallo & Signoriello Insurance. When he started out in his early 20s, he thought all his peers were likely 50 years of age or older.
Insurance, Assurance
The way we see it, there are two reasons to take out an insurance policy.
GreenWood International Acquired By Pan-American Life Insurance Group
Boston-based GreenWood International Insurance Services Inc. (GWI) has been acquired by New Orleans-based Pan-American Life Insurance Group, a life and health insurance provider in Latin America and the U.S. Hispanic market.
MassMutual To Provide Retirement Coverage For Dent Removal Co.
Springfield-based MassMutual has been selected by St. Louis, Mo.-based Dent Wizard International as the new retirement plan provider for the company’s $38 million 401(k) plan.
Liberty Mutual Increases Q1 Net Income
Boston-based Liberty Mutual Group today reported $362 million net income for the first quarter ended March 31, an increase of $47 million compared to the same period in 2010.
MassMutual Donates $100K To Tornado, Severe Weather Relief Effort
Springfield-based Massachusetts Mutual Life Insurance Co. (MassMutual) is donating $100,000 to the American Red Cross Disaster Relief Fund, which will support victims of the tornado outbreak.
Liberty Mutual Group Sponsorsing 2014 FIFA World Cup
Boston-based Liberty Mutual Group has announced that Brazilian affiliate Liberty Seguros is a FIFA World Cup National Supporter for the 2014 FIFA World Cup Brazil and the FIFA Confederation Cup 2013.
Insurers Fight Over Flood Policies Dropped by State Farm
Major insurers nationwide jostled on Capitol Hill this week over control of 800,000 former State Farm flood insurance policies as lawmakers tried to advance reform of the nation’s flood insurance system.
ABA Offering Banks Social Networking Insurance Coverage
ABA Insurance Services, the American Bankers Association-endorsed program providing liability insurance for community banks, is now offering social networking coverage as part of its internet liability policies.
Bad Weather, Poor Economy Hampers The Hanover’s Q1 Net Income
Worcester-based The Hanover Insurance Group Inc. reported net income of $29.3 million for the first quarter, down from $41.8 million during the same time last year.
Mass Mutual Nabs Veteran Corbett As CIO
M. Timothy Corbett has been named executive vice president and chief investment officer (CIO) at Springfield-based Massachusetts Mutual Life Insurance Co. (MassMutual), effective May 23.
Chicago Insurer Names Former OneBeacon Manager To Head Boston Office
Chicago-based CNA Financial Corp., which touts itself as the nation’s seventh-largest commercial insurance writer, has appointed John Scroope as vice president of its Boston branch, effective May 2.
Liberty Mutual To Take Over Ireland’s Quinn Insurance
Boston-based Liberty Mutual has agreed to buy a controlling stake in Ireland’s Quinn Insurance, but much of the firm’s losses will be transferred to struggling Irish consumers.
Study: Increased Longevity Awareness Expands Opportunities For Insurers
The transfer of longevity risk creates a growth opportunity for insurers who develop and distribute retirement income products, according to a recent study by Hartford-based Conning Research & Consulting.
Study: Employees Value Employer-Sponsored Benefits, But Don’t Understand Costs
Employees across all generations believe benefits like medical insurance, defined contribution plans and dental insurance are important, according to a study from Kehrer-LIMRA.
The Hanover Insurance Group To Acquire British Insurer
Worcester’s The Hanover Insurance Group Inc. has agreed to buy Lloyd’s of London insurer Chaucer Holdings PLC for $510 million.
Survey: Bank-Sold Annuities Hit 15-Month High
Total bank annuity sales increased 27 percent increase in February from the previous month to hit a high not seen since October 2009, according to a survey from Kehrer-LIMRA.
MassMutual Elects Conde, Stitzer To Board
Springfield-based Massachusetts Mutual Life Insurance Co. (MassMutual) has elected Cristobal I. Conde and H. Todd Stitzer to its board of directors.
CEO Panel: Future Life Insurance Industry Growth Tied To Middle Market
The life insurance industry should focus on a younger audience in the middle market, according to senior life insurance executives speaking at a national conference.
Herbert H. Landy Insurance Agency Partners With New York Firm
Needham’s Herbert H. Landy Insurance Agency has partnered with New York City-based The Navigators Group Inc. to provide errors and omissions insurance to real estate agents, brokers and appraisers.