The News Review:
- GMAC Insurance to sell reinsurance operations
- SoCal insurance agent gets 10 years for scam
- AM Best Offers Helpful Insight into Life Insurance Options
- HCC Acquires Cox Insurance Group, a Midwestern Medical Stop-Loss …
GMAC Insurance to sell reinsurance operations
BusinessWeek
GMAC RE’s 120-person team will join Maiden, continuing to provide reinsurance to small and regional insurance firms. As part of the deal, two U. licensed and domiciled insurance companies will be transferred to Maiden Holdings following regulatory approval. Until approval is obtained, a GMAC Insurance company will continue to write reinsurance and collateralize obligations which Maiden will reinsure on a 100 percent basis, the companies said. Maiden Insurance assumed GMAC RE’s outstanding loss reserves, totaling $750 million as of Sept.
Related from Mortgagerefinancemonster: The PMI Group, Inc. Reports Third Quarter 2008 Financial Results
SoCal insurance agent gets 10 years for scam
San Francisco Chronicle, USA
tmpl –>(11-03) 20:36 PST Newport Beach, CA (AP) –A Southern California insurance agent has been sentenced to 10 years in prison after pleading guilty to a $2. 5 million fraud scheme.
AM Best Offers Helpful Insight into Life Insurance Options
MarketWatch
‘s
Consumer Insurance Center will help consumers learn what to do if the
premiums on an existing life insurance policy are no longer affordable. This latest feature in the ongoing consumer-oriented series helps
explain that life insurance policyholders have other options besides
stopping to pay their premiums and letting their policies lapse. Consumers might not know they have better options, including: cashing
the policy in for its surrender value; seeking an accelerated death
benefit; exchanging the policy; taking a loan out against the policy; or
seeking a life settlement. Upcoming features will discuss what’s new in
disability insurance, as well as health and retirement products, plus
offer tips on homeowners and car insurance. Your information resource about buying insurance as well as the
financial stability of the insurance companies that sell those products
is available at.
HCC Acquires Cox Insurance Group, a Midwestern Medical Stop-Loss …
MarketWatch
Founded in 1981, Cox specializes in medical stop-loss and group life insurance, principally in the mid-sized market. Cox is expected to write approximately $50 million in premium in 2009. Cox will continue to head the operation, which will become part of HCC’s Perico Life Insurance Company subsidiary.