American life insurance ↝ Life insurance

1.7M subsidy eyed for Great American Life expansion

CINCINNATI — The city of Cincinnati has offered a $1.4 million forgivable loan and tax credits worth $278,000 to Great American Life Insurance Co., which last week announced an $8 million expansion project that would fill two floors of a 10-story office building at the Banks. The preliminary offer is yet to be finalized and it would require approval by city council, spokesman Rocky Merz said. But the March 9 offer letter, obtained by the WCPO 9 I-Team in a public record request, shows some evolving details about how the city is responding to job-creation deals in an age of remote working arrangements. “Prior to recommending the project to city council, the city would like to work with the...

American General Life Insurance Review 2022 Forbes Advisor

Types of Life Insurance Sold by American General Guaranteed issue whole life Guaranteed universal life American General’s term life insurance Term life insurance is a simple option if you’re looking for life insurance to cover a specific period in your life. For example, suppose you want enough coverage to cover income replacement for your family if you die. In that case, a term life policy with a term that covers the remainder of your working years is an option. After the term expires, you can always renew or get a new policy, but you should prepare for increased premiums. Term life insurance does not build cash value, and as a result, it is often the cheapest type of life insurance...

Pan-American Life Insurance Group Announces Data Security Incident

NEW ORLEANS, March 11, 2021 /PRNewswire/ -- Pan-American Life Insurance Group (PALIG) shared information today regarding a data security incident. On February 19, 2021, PALIG detected suspicious activity within its computer systems and on March 9, 2021, it confirmed that some policyholder and beneficiary information, like name, address and date of birth, was taken. It also appears that a relatively small percentage of policyholders and beneficiaries may have had more sensitive information taken, and PALIG will be contacting those individuals directly by mail or email with more information. PALIG's systems contain various types of personal information related to the servicing of the...

Great American Life creates 150 jobs with move to the Banks

CINCINNATI — Great American Life Insurance Co. will create 150 new jobs with an $8 million expansion that fills empty space in the GE Global Operations Center at the Banks, the company announced Monday. Ohio contributed $3.4 million in development incentives to encourage the project. The city of Cincinnati is expected to chip in a forgivable loan and local tax credits. “The fact that Great American Life is choosing to remain in and expand in Cincinnati further strengthens Ohio’s leadership in the financial services sector,” Ohio Governor Mike DeWine said in a press release. “Ohio’s ingenuity and global competitiveness are paving the way for companies like Great American Life to write the...

Pan-American Life Insurance Group Announces Merger of Mutual Trust Life Insurance Company into Pan-American Life Insurance Company, Business Wire

NEW ORLEANS--( BUSINESS WIRE )--Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance throughout the Americas, today announced that Mutual Trust Life Insurance Company®, a Pan-American Life Insurance Group Stock Company, will be merged into Pan-American Life Insurance Company (PALIC) as a fully integrated division to be named Mutual Trust Life Solutions. The process will entail a re-domestication or change in corporate domicile of Mutual Trust Life Insurance Company from Illinois to Louisiana, where Pan-American Life Insurance Company is domiciled. During and after the merger, Mutual Trust will continue to operate from its existing offices in...

MassMutual to buy Great American Life Insurance

Massachusetts Mutual Life Insurance Co. is snapping up another major annuity provider, Great American Life Insurance Company, for $3.5 billion, the company announced Wednesday. Cincinnati-based Great American was the 13th biggest fixed annuities seller during the first three quarters of 2020, at about $2.4 billion, also making it the 20th biggest seller of annuities overall, according to data from Limra’s Secure Retirement Institute. The company, which is wholly owned by American Financial Group, provides fixed and fixed indexed annuities. The deal appears to reinforce MassMutual’s focus on its retail annuities business. Last year, the company sold its defined-contribution record-keeping...

Disruptions at Pan-American Life Likely Caused by Ransomware Attack,

Disruptions at Pan-American Life Likely Caused by Ransomware Attack Recent service disruptions at the Pan-American Life Insurance Group (PALIG) were likely caused by a cyberattack conducted by a threat actor known for using the REvil ransomware. New Orleans-based PALIG provides life, accident and health insurance services across the Americas. The group has more than 20 member companies and employs roughly 2,000 people worldwide. The official website of PALIG (palig.com) currently only displays some contact information and the following message: “Pan-American Life Insurance Group is currently experiencing a disruption to some of our services and we are working to restore them. To...

MassMutual buys Great American Life Insurance Co. for $3.5B -

SPRINGFIELD — MassMutual has a deal in place to buy Great American Life Insurance Co. from American Financial Group Inc. for $3.5 billion Great American Life will continue to be led by its current president, Mark Muething, and its more than 600 employees will remain headquartered in Great American’s hometown of Cincinnati as part of the transaction, according to a MassMutual news release issued Wednesday. Great American is a provider of fixed and fixed indexed annuities. MassMutual said the it expects that deal will significantly boost its presence in the retail annuity market and expand its distribution capabilities. The transaction is expected to close in the second quarter of this year....

5 Things to Know About Life Insurance and Black America

5 Things to Know About Life Insurance and Black America Here are 5 things to know about life insurance and Black America that will help Black customers learn how to maximize their policies. Photo by Larry Crayton on Unsplash Many Black people have been told they should have life insurance but view the financial tool with limited lens. Some believe it’s simply to take care or burial expenses, while others don’t quite understand the stipulations of policy they have. Here are 5 things to know about life insurance and Black America. Surprise! Black people are more likely to purchase life insurance than other groups While countless Go Fund Me’s have given the impression that Black people just...

Fire Insurance Market Size 2020, Brief Analysis by Top Companies – Allianz, Axa, Nippon Life Insurance, American Intl. Group, Aviva Scientect

New Jersey, United States,- Market Research Intellect recently added the Fire Insurance Market research report which provides an in-depth scenario analysis of the market size, share, demand, growth, trends, and forecast for the market from 2020 to 2027. The report covers the impact analysis of the COVID-19 pandemic. The COVID-19 pandemic has affected export-import, demand, and industry trends and is expected to have an economic impact on the market. The report provides a comprehensive analysis of the impact of the pandemic on the entire industry and provides an overview of a post-COVID-19 market scenario. The report majorly mentions definitions, classifications, applications, and market...