Posts Tagged ‘Financial’
Sun Life Financial Unretirement Index Reveals 65 Percent of US Workers Now Expect to Delay Retirement
Posted on: October 22, 2009
WELLESLEY, Mass.–(BUSINESS WIRE)–The U.S. division of Sun Life Financial Inc. (NYSE:SLF, TSX:SLF) today released the latest edition of its UnretirementSM Index, which reveals 65 percent of American workers will delay their retirement by at least one year ? an 11 percent increase since the end of 2008. The Index also indicates 27 percent of Americans now believe they will need to work at least five years longer than expected because of the Read the rest of this entry »
MONTE CARLO, Monaco?Mergers and acquisitions are expected to gain momentum as reinsurers look to accelerate growth after the financial crisis, experts said at the Rendez-Vous de Septembre.
Attendees at the annual reinsurance gathering in Monte Carlo, Monaco, said an expected recovery in the world financial markets later this year, combined with a return of capital to the reinsurance sector, likely will drive the consolidation trend.
Some state-run residual market property insurance plans are under financial duress, according to white paper released by the New York-based Insurance Information Institute on Thursday.
The current economic downturn has made the situation worse, according to ?Residual Market Property Plans: From Markets of Last Resort to Markets of First Choice,? written by Robert Hartwig, president of the insurance industry-supported III, and Claire Read the rest of this entry »
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WASHINGTON—Supporters and opponents of a new federal regulatory regime for the insurance sector all found something to like in the Obama administration’s white paper on financial services regulatory reform.
Among those reacting with positive comments were insurance trade groups that support retention of the current state-based regulatory system for insurance, the Independent Insurance Agents and Brokers of America, the Property Casualty Read the rest of this entry »
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WASHINGTON – From simple home loans to Wall Street’s most exotic schemes, the government would impose and enforce sweeping new “rules of the road” for the nation’s battered financial system under an overhaul proposed Wednesday by President Barack Obama.
Aimed at preventing a repeat of the worst economic crisis in seven decades, the changes would begin to reverse a determined campaign pressed in the 1980s by President Ronald Reagan to Read the rest of this entry »
Financial Turmoil is Opportunity
Posted on: June 18, 2009
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Willis Group Holdings sees an opportunity for insurers to make lemonade with the proverbial lemons the industry has been handed. In a time of financial turmoil, the insurance industry faces an unprecedented opportunity to begin selling on value—not on price, Joe Plumeri, chairman and CEO of the global insurance broker, told delegates at Insurance Day’s Summit Bermuda.
Plumeri said that the need for greater transparency in business transactions Read the rest of this entry »
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WASHINGTON (AP) The head of the Federal Deposit Insurance Corporation said Thursday that the government’s strategy in the financial crisis of bailing out huge institutions deemed “too big to fail” must be replaced by a new model.
The official, Sheila C. Bair, told Congress that a new system of supervision was needed to prevent institutions from taking on excessive risk and becoming so large that their failure would threaten the financial Read the rest of this entry »
Experts say that it is unlikely that coming generations will have pensions, social security or retirement health benefits. Alan Greenspan in a senate review on 7/20/05 said, “Retirees will need 80% of their income level to have a comfortable life and it will have to come substantially from non-social security, non-pension benefits.” Now, more than ever, people must be able to create wealth, protect their families and minimize risk.
New NAMIC Report Analyzes Financial Crisis and Cautions Against Federal Overreach
Posted on: January 13, 2009
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INDIANAPOLIS (Dec. 17, 2008) – California insurance consumers and the state’s economy could be severely harmed if proposed changes are made to the state’s insurance rate approval structure. That was the message delivered in written comments to California insurance officials last week by the National Association of Mutual Insurance Companies (NAMIC).
NAMIC, in conjunction with its domestic insurer state advocacy partners, the Read the rest of this entry »
Insurance News 