Insurance Company

A financial entity that pools risk and provides insurance coverage to individuals and organizations.

New York Life Reports Record Sales of Fixed Immediate Annuities

New York Life Insurance Company reported record sales of fixed immediate annuity products for the third quarter of 2010. The nation's largest mutual life insurer reported $1.3 billion in fixed immediate annuity sales--an increase of 4 percent over the same period last year. According to EVP for Retirement Income Security Chris Blunt: “We’re on pace to achieve a seventh consecutive year of record sales of lifetime income annuities. Americans are more actively taking personal...

MetLife Puts a Stop to New Long Term Care Sales

MetLife is reportedly discontinuing the sale of long term care insurance beginning January 1, 2011. The largest U.S. life insurance company cites "financial challenges" facing the industry in the current environment. According to a recent Bloomberg article:

Variable Annuity Sales at Jackson National Rise 57 Percent

Variable annuity sales are, to say the least, strong at Jackson National Life Insurance Company.
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Allianz Reports Strong Revenue Growth Coupled with Earnings Challenges Due to Low Interest Rates

Allianz Life Insurance Company of North America reported strong revenue growth for the third quarter of 2010. Fixed indexed annuity sales increased 36 percent and totaled $1.9 billion. Variable annuity sales quadrupled to $800 million. Allianz attributes the revenue growth to more risk averse consumers in the wake of the financial crisis.

What to Make of MetLife's Exit from the Long Term Care Market

MetLife’s recent decision to exit the U.S. long-term care market can be seen as a relatively minor decision by the largest U.S. life insurance company to pull-out of a small, slow-growth market and forgo what is a very small part of their overall business.