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.
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.
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.
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.
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.
Health plans led by WellPoint Inc. and UnitedHealth Group Inc. can subtract taxes and include as costs “activities that improve health care quality” to meet mandates in the U.S. health-care overhaul on how much they spend on medical care, a draft report says.
American Financial Group Inc., the insurer run by Cincinnati’s Lindner family, agreed to buy Summit Holdings Southeast Inc. from Liberty Mutual Group Inc. for about $250 million to build its workers’ compensation business.
Genworth Financial Inc. said U.S. and Bermuda-based affiliates assumed about $8.3 billion of reserves from its main units at the end of 2012, as regulators question insurers about transferring risk to subsidiaries.
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.
National Association Of Insurance Commissioners Photos