NEW YORK—Jerry M. de St. Paer is leaving his post as chief financial officer of XL Capital Ltd. to join American International Group Inc. as senior vp-finance, AIG announced Thursday. Mr. de St. Paer, who has been executive vp and CFO of XL since 2001, also has served in the Hamilton, Bermuda-based...
March, 2007
This is post one of two in a series about understanding what a lemon law is and steps you can take if you qualify.
So…what exactly is an automobile “lemon law”? These are laws designed to protect consumers and allow them to get a refund or a similar replacement automobile when their car initially turns out to be much less than expected or advertised. The general definition goes something like this: A lemon is a car that doesn’t operate reasonably within the period in which it has been owned.
Questions that come up often include “do lemon laws cover used cars” and “do lemon laws cover leased cars”? The fact is, most lemon law details depend on the state you live in. Your best order of business when it comes to lemon ...
JOHNSTON, R.I.—Factory Mutual Insurance Co.’s net income rose in 2006 to $736.9 million, a 16.1% increase from 2005, the insurer, which does business as FM Global, said Thursday. In addition, policyholder surplus rose 18.2% to $5.2 billion in 2006 from a year earlier. The Johnston, R.I.-based...
Americans could all benefit from financial advice, but most don't want or can't afford to pay for it. But free assistance from financial planners -- who ordinarily may charge $150 or more per hour -- is available to just about anyone.
Thousands of financial planners nationwide spend anywhere from a few hours a year to a few hours a month participating in seminars, clinics and even one-on-one consultations without charging a dime...
OLDWICK, N.J.— A.M. Best Co. Inc. has changed its 2007 outlook for the global reinsurance sector to stable from negative following reinsurers’ 2006 financial performance, when many reported record earnings, said the Oldwick, N.J.-based rating agency. Although mixed, renewals in January "set the...
WASHINGTON—The attorney general of Mississippi urged Congress to revoke the insurance industry’s limited federal antitrust exemption during a Wednesday appearance before a House subcommittee. Appearing before the House Financial Services Committee’s Oversight and Investigations Subcommittee,...
LONDON (Reuters)—The United Kingdom's Aviva P.L.C. posted a 12% rise in 2006 profits, helped by growth at home and by U.S. unit AmerUs, but one-off changes clouded the insurer's earnings and sent its shares down 6% in a jittery market. Aviva, which says it targets aggressive growth, took provisions...
American General Life Insurance Company, a wholly owned subsidiary of American International Group, Inc. (AIG), announced today that it acquired Matrix Direct, Inc., a leading direct marketer of term life insurance, from Protective Life Corporation. Matrix Direct will become part of the domestic life insurance operations of AIG, which operate under the marketing name “AIG American General.”
AIG American General Acquires Matrix Direct, Inc., a Leading Direct Marketer of Life Insurance, from Protective Life Corporation
Source: Business Wire
MetLife, Inc. today announced that its board of directors has authorized an additional $1 billion common stock repurchase program. This program will begin after the completion of an earlier $1 billion repurchase program that was announced on October 26, 2004, of which $208 million currently remains.
MetLife Announces New $1 Billion Stock Repurchase
Source: Yahoo! Finance
Life insurance brokers that prospect through their Web sites and represent many insurers have carved a solid niche in term-life sales over the past decade. Most observers would agree they have changed the way insurance is sold, at least to a segment of the population, by making pricing more transparent.
Selling Without Pressure
Source: A.M. Best (subscription required)
