After Symetra Financial Corp. was formed in 2004, the life insurer set up shop in a 25-story glass tower outside Seattle, put its name on the building and pushed the state to adopt more favorable rules for its business.
WellPoint Inc., the second-largest U.S. health insurer, is leading companies that have poured $13.4 million into defeating a ballot initiative that would give California regulators the power to reject increases in health policy premiums.
A U.S. mandate forcing insurers led by UnitedHealth Group Inc. and WellPoint Inc. to spend 85 percent of revenue from premiums on medical care is the newest front in the battle between the Obama administration and companies over industry profits.
United Services Automobile Association, the provider of insurance and other financial products catering to military families, said Chief Executive Officer Josue Robles will retire in the first quarter of 2015.
Northwestern Mutual Life Insurance Co., the No. 2 seller of the coverage in the U.S. last year, is turning to property investments and private deals after scaling back from stocks during last year’s rally.
Therese Vaughan, the chief executive officer of the National Association of Insurance Commissioners, will step down in the first quarter of next year to revise a textbook, the industry association wrote in an e-mailed statement.
The package arrived at Cindy Lohman’s home in Great Mills, Maryland, just two weeks after she learned that her son, Ryan, a 24-year-old Army sergeant, had been killed by a bomb in Afghanistan. It was a thick, 9-inch-by- 12-inch envelope from Prudential Financial Inc ., which handles life insurance for the Department of Veterans Affairs.
With midterm congressional elections bearing down, the government changed its regulation of Obamacare to give consumers and states more flexibility to decide on their health plans, insurers more time to sign up customers and taxpayers a chance to avoid more costs.
National Association Of Insurance Commissioners Photos