All articles by Charles Davis
Charles Davis
Hartford seeks adviser channel growth
Looking to expand its reach in the US life and mutual fund markets, Hartford Financial Services has begun a programme to recruit independent agents Seeking to bolster its expansion into new distribution channels, Hartford Financial Services Group plans to concentrate on the rapidly growing independent financial adviser channel, as a way to augment its big-bank channel, while targeting the burgeoning registered investment adviser market with its mutual fund line-up.
Alico deal gives MetLife global punch
In what has been described as a win-win deal for both parties, MetLife is to acquire AIGs Alico unit in one of the insurance industrys largest deals For AIG, the deal will bring in much-needed capital to reduce its debt, and for MetLife provide significant scope for global growth
Savings culture resurfaces in the US
Shocked into reality by the 2008-2009 economic crisis, Americans have regained the savings ethic, a shift Allianzs chief economist sees as permanent
Obama sets out to milk insurers
Already weary from the toils of the health care reform debate, US insurers are gearing up for a handful of fresh skirmishes over new proposals to rein in the industry. All of the major insurance industry associations are calling attention to a number of details in President Barack Obamas 2011 budget proposal, from new life industry rules to taxation of major companies to potential changes for offshore insurers. The impetus for the administrations newest budget proposals is quite simple: the presidents advisers are looking for insurance-driven revenue to offset the costs of health care reform
Technology helps insurers slash costs
Charles Davis examines two innovative approaches, one adopted by MetLife with the objective of slicing travel expenses and the other an aggressive online marketing campaign launched by New York Life.
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ING powers into burgeoning multicultural market in the US
Seeking to capitalise on the growing diversity of the US market, ING has expanded its enterprise-wide efforts aimed at serving multicultural customers.
Uncertainty and opportunity ahead
In a discussion with Charles Davis, Deloittes Rebecca Amoroso highlights the uncertainties US life insurers face as they head into 2010, particularly in the area of sweeping regulatory change. However, she also sees opportunity for insurers serving the needs of risk-averse retirees and near-retirees
Email gives smaller US insurers an edge
Effective communication with customers and agents is vital and, thanks to the power of email, need not cost the earth, as US insurers such as United Home Life have discovered Like many smaller US life insurers, United Home Life Insurance of Indianapolis, Indiana, battles for the attention of independent agents critical to the companys sales efforts.
US insurers go on the offensive
Prudential Financial joined the reassurance business recently, launching a major advertising campaign highlighting the company’s solutions for businesses facing a variety of challenges in the post-financial crisis environment The multimillion-dollar advertising campaign centres around Prudential answering an SOS call from corporations looking for a partner with the financial strength and solutions for their retirement plans, asset management and group life insurance needs.
Whole life enjoys a big comeback
In a US life insurance industry that has seen overall sales plummet since 2008, standing out as an exception are whole life policies which are enjoying a strong rebound in popularity among risk-averse consumers seeking a more stable investment alternative to the equity market Shoved to the sidelines during the heady days before the economic meltdown of 2008, whole life policies suddenly are back in vogue.The reasons for the comeback of whole life products are quite simple: retirees, and those eyeing retirement, find themselves in a cash crunch with a lower income stream from their investment portfolios, personal expenses that are higher than expected, or both.Retirees often decide they no longer need life insurance once their children are grown