OLDWICK, N.J.--( BUSINESS WIRE )--AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” from “bbb” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of United National Life Insurance Company of America (UNL). The outlook of the Long-Term ICR has been revised to stable from positive, while the outlook of the FSR is stable. Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” of UNL’s affiliate, Guarantee Trust Life Insurance Company (GTL). The outlook of these Credit Ratings (ratings) is stable. Both companies are domiciled in Glenview, IL. The ratings of UNL reflect its balance sheet strength, which AM Best...
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HONG KONG and SHANGHAI, Sept. 14, 2020 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter " Ping An " or the "Group", HKEX: 2318; SSE: 601318) announced that its life insurance arm, Ping An Life, is driving business in four key areas: its growth model, marketing, product strategy and channel integration. During the 2020 interim results conference, Lu Min, Chief Insurance Business Officer of Ping An, said, "Despite the unprecedented challenges and the industry's inertia to sweeping changes, we are confident that this reform will pave the way for Ping An Life's further development in the next decade." Ping An Life's Reform Will Set It Apart The previous round of...
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What Is Level Term Life Insurance? Level Term Life Insurance is a type of life insurance that pays out a fixed amount (level) over the term of your life policy, regardless of whether you pass away towards the beginning of your policy or towards the end. The pay-out amount and duration of a level term life insurance policy are set by the policy holder at the start of the policy. Below we look at the questions that often arise when considering whether a term life insurance policy is right for you. When Should A Level Term Life Insurance Policy Be Taken Out? Many people will take out a level term life insurance policy due to a life-changing event such as having a child or buying a house with a...
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The recent report on “Global Term Life Insurance Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026” offered by Credible Markets, comprises of a comprehensive investigation into the geographical landscape, industry size along with the revenue estimation of the business. Additionally, the report also highlights the challenges impeding market growth and expansion strategies employed by leading companies in the “Term Life Insurance Market”. Impact of Covid-19 in Term Life Insurance Market: Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost every country around the globe with the World Health Organization declaring...
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Axis Bank proposes to acquire 17% of equity share capital of Max Life 3 min read . Updated: 24 Aug 2020, 04:45 PM IST Edited By J. Jagannath This will result in total ownership of 18% post the transaction, says Axis Bank This will result in total ownership of 18% post the transaction, the lender told stock exchanges in a filing. "We would like to inform you that following recent developments, Axis Bank now proposes to acquire 17.002% of the equity share capital of Max Life, resulting in total ownership of 18.0% post the transaction. The parties have executed the definitive agreements. Axis Bank and Max Life will shortly approach the respective regulatory authorities, with revised...
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By John Revill and Carolyn Cohn ZURICH/LONDON, Aug 13 (Reuters) - Zurich Insurance’s life insurance and property and casualty businesses have taken a hit from the COVID-19 pandemic, but rising commercial insurance rates will provide support, its CFO said on Thursday as the company reported a 40% profit drop. Insurers have been hit across the board by pandemic-related claims including for travel, business interruption and event cancellation, in addition to life insurance. “It’s been a relatively extraordinary six months,” Chief financial officer George Quinn said. “The challenge is not over.” Europe’s fifth-largest insurer said it expected COVID-19...
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The research report on Term Life Insurance Industry market comprises of key development trends that define the industry in terms of profit potential and expansion scope. It also highlights the challenges & constraints that may negatively influence the market outlook alongside the various growth drivers and opportunities affecting the future remuneration of this business vertical. In addition, the study encompasses data regarding the impact of COVID-19 in an effort to gain insights about the projected performance over the study duration. Major aspects from COVID-19 impact analysis: Status of COVID-19 pandemic and its economic overview. Changing demand and supply chain parameters of this...
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Level Term Life Insurance Explained If you're looking for an affordable and straightforward life insurance policy to protect you and your family, level term life insurance may be exactly what you need. What is level term life insurance? Level term life insurance is a term life insurance policy in which the premium and death benefit remain the same throughout the life of the policy. Most term life policies are level term. Benefits of level term life insurance The premium stays the same for the entire time that you own the policy. People seeking a reliable expense they can budget for in exchange for coverage will go with a level term life insurance policy. By law, even if you have a...
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The MarketWatch News Department was not involved in the creation of this content. Jun 03, 2020 (The Expresswire) -- Life Insurance Policy Administration Systems Market 2020 - 2025 Research Report Provides deep understanding, clarifies diversities of the market to help you decide not only the succeeding strategy but also to achieve the desired market position. Life Insurance Policy Administration Systems market research is a combined result of inputs from industry experts with awareness, the experience of Life Insurance Policy Administration Systems Market and qualitative and quantitative synthesis of the Life Insurance Policy Administration Systems market. Get Sample Copy Of Life Insurance...
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Introduction Further to our article, " United Arab Emirates moves closer to insurance safety net ", published in March 2017, Kennedys' Corporate Insurance team looks at the requirements under the new draft life insurance regulations in the United Arab Emirates (UAE). The UAE Insurance Authority (IA) carried out extensive research into life insurance practices and products that are currently offered in the UAE and were surprised to discover the excessive commissions and upfront fees being charged to customers. There were also a signficant number of complaints from customers that they are provided with no value if they cancel the policy in the early years. With the aim of creating a level...
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