IDBI Federal Life Insurance

Federal Life Partners with World's Third-largest Reinsurer and U.K. Financial Product Specialist to Bring a Later Life Annuity Solution to U.S. Consumers

Retrieved on: 
Monday, October 16, 2023
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“This becomes a gamble against longevity where loved ones can only hope those requiring care don't outlive their money."

Key Points: 
  • “This becomes a gamble against longevity where loved ones can only hope those requiring care don't outlive their money."
  • With life expectancy rising and global economic volatility, this problem demanded a unique solution requiring a collaborative approach from experts across the globe.
  • Product specialist teams from Federal Life, Hannover Re and Vidale Marketing worked diligently over the past two years to bring this innovative but hugely important product to the U.S. market.
  • “Federal Life continues to pursue bold innovation in the insurance industry to provide the next generation of dynamic solutions to protect families and improve people’s lives,” said Olson.

Federal Life Welcomes John Horbal and Matt Trosper to its Executive Team

Retrieved on: 
Wednesday, August 23, 2023
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“Adding John Horbal and Matt Trosper to our newly re-formed executive team is a vital step in our strategy to grow Federal Life and expand the successful accident and health insurance franchise while building a premier global retirement solutions provider for individuals and institutions,” said Federal Life CEO Knut Olson.

Key Points: 
  • “Adding John Horbal and Matt Trosper to our newly re-formed executive team is a vital step in our strategy to grow Federal Life and expand the successful accident and health insurance franchise while building a premier global retirement solutions provider for individuals and institutions,” said Federal Life CEO Knut Olson.
  • Horbal comes to Federal Life with more than 20 years of extensive financial strategy and management experience, most of it in the insurance industry.
  • “It’s my great pleasure to be part of the Federal Life team and to join forces with Knut Olson once again,” said Horbal.
  • “I am thrilled to be part of the new leadership structure at Federal Life,” said Trosper.

Federal Life Group Hires Knut Olson as CEO

Retrieved on: 
Tuesday, August 8, 2023
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CHICAGO, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Federal Life Group, Inc. and its affiliates (“Federal Life”), a leading provider of insurance and retirement solutions founded in 1899, announced that Knut A. Olson has joined the firm as CEO and a member of the board of directors.

Key Points: 
  • CHICAGO, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Federal Life Group, Inc. and its affiliates (“Federal Life”), a leading provider of insurance and retirement solutions founded in 1899, announced that Knut A. Olson has joined the firm as CEO and a member of the board of directors.
  • Olson succeeds Bill Austin, who will continue to serve on the board of directors as executive vice chairman and provide executive advisory services to Federal Life.
  • Olson brings more than 30 years of experience in the life and health insurance and annuity industries to Federal Life.
  • “I am pleased to have joined the Federal Life board and am excited to work with Knut Olson, Tom Marra, David Herzog, and the rest of the team to build a world-class life, health, and annuity platform,” said Foy.

Federal Life Partners with Swiss Re and Leading Insurtech Company to Bring a New Digital-First Insurance Solution to Market

Retrieved on: 
Tuesday, May 9, 2023
Insurance, IDBI Federal Life Insurance, Small business, Gen, Life, Universal Life, LTC, Parent, Policy, Long-term care, Ageing, Federal, Sale, Swiss Re, Organization, Fintech, Family, Mutual Life Insurance Company of New York, Magnum, Caregiver, Life insurance

The policy is designed to evolve and grow in value over time to meet changing customer needs.

Key Points: 
  • The policy is designed to evolve and grow in value over time to meet changing customer needs.
  • Federal Life has brought the product to market with a six-month soft launch period limited to a select group of distributors until the product is made more widely available later this year.
  • “Finding ways to make life insurance meet the needs of more consumers is a key focus area for us as we strive to close the life insurance protection gap,” said Kim Poulopoulos, Head Life & Health Growth Innovation Americas, Swiss Re.
  • “This feature makes the policy likely to qualify for state-legislated LTC initiatives similar to the Washington Cares Act,” said Ray.

AM Best Assigns Credit Ratings to Federated Specialty Insurance Company; Affirms Credit Ratings of Federated Mutual Insurance Company and Main Subsidiaries

Retrieved on: 
Wednesday, April 6, 2022
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AM Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of a (Excellent) to Federated Specialty Insurance Company (Federated Specialty) (Dover, DE).

Key Points: 
  • AM Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of a (Excellent) to Federated Specialty Insurance Company (Federated Specialty) (Dover, DE).
  • Concurrently, AM Best has affirmed the FSR of A+ (Superior) and the Long-Term ICRs of aa- (Superior) of Federated Mutual Insurance Company (Federated Mutual) and its main subsidiaries, Federated Service Insurance Company, Federated Reserve Insurance Company and Granite Re, Inc. (Oklahoma City, OK).
  • Additionally, AM Best has affirmed the FSR of A+ (Superior) and the Long-Term ICRs of aa- (Superior) of Federated Life Insurance Company (Federated Life).
  • These ratings reflect Federated Specialtys strategic importance to its parent company, along with its common ownership and management, and the implicit and explicit support provided to Federated Specialty by Federated Mutual.

WisdomTree Expands Global Digital Assets Team

Retrieved on: 
Friday, November 19, 2021
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NEW YORK, Nov. 19, 2021 (GLOBE NEWSWIRE) -- WisdomTree Investments, Inc. (NASDAQ: WETF), an exchange-traded fund (ETF) and exchange-traded product (ETP) sponsor and asset manager, announced today the expansion of its global digital assets team.

Key Points: 
  • NEW YORK, Nov. 19, 2021 (GLOBE NEWSWIRE) -- WisdomTree Investments, Inc. (NASDAQ: WETF), an exchange-traded fund (ETF) and exchange-traded product (ETP) sponsor and asset manager, announced today the expansion of its global digital assets team.
  • With the recent additions, WisdomTree now has a dedicated team of twelve professionals across the U.S., U.K., and Ireland focused exclusively on technology, compliance, legal, product, marketing, research and education, related to digital assets, blockchain and decentralized finance (DeFi).
  • WisdomTree is focused on digital assets on a number of levels, including our ETPs in Europe and new product development globally.
  • Ryan Louvar, Chief Legal Officer and Head of Business and Legal Affairs, Digital Assets, added: Whether through ETFs, digital assets or DeFi, WisdomTree will continue to be a trusted provider of innovative products and services guided by proactive regulatory collaboration.

Federal Life Insurance Company to launch transformative Digital Currency Variable Annuity, In Partnership with Industry Leaders Gemini; WisdomTree; and Onramp

Retrieved on: 
Wednesday, October 6, 2021
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We have merged the appetite for digital currency with a familiar and proven product in the tax-efficient variable annuity.

Key Points: 
  • We have merged the appetite for digital currency with a familiar and proven product in the tax-efficient variable annuity.
  • The Company has partnered with digital currency leaders Gemini and Onramp to hold and trade coins, as well as WisdomTree to provide investment allocation design to our IDF.
  • We congratulate Federal Life on being an innovator in the insurance and variable annuity channel for these crypto exposures by leveraging WisdomTree model portfolios.
  • Federal Life Group, Inc. (OTCMKTS: FLFG) is the parent of Federal Life Insurance Company (FLIC), a provider of quality life insurance and annuity products, incorporated in 1899.

IDBI Intech Ltd., India’s leading Digital Banking transformation player announces partnership with Lemon Advisors UK Ltd., to expand into Southeast Asia, Japan, Australia, UK & EU

Retrieved on: 
Tuesday, June 29, 2021
Professional services, Data management, Technology, Software, Finance, Internet, Banking, IDBI Bank, Life Insurance Corporation, Articles, Financial technology, Finance, Economy, IDBI Federal Life Insurance

Some of the standard global technology offerings by IDBI Intech include Combating Financial crime, Payment Transformation, Digital Customer Experience and Digital Technology Integration, among others.

Key Points: 
  • Some of the standard global technology offerings by IDBI Intech include Combating Financial crime, Payment Transformation, Digital Customer Experience and Digital Technology Integration, among others.
  • IDBI Intech, through its Compliance-as-as-service offerings is addressing the progressive changes in the governance, risk management and compliance ecosystems worldwide.
  • IDBI Intech Ltd. based in Mumbai, India is a Digital Fintech IT company specialising in business transformation in the Banking Financial Services and Insurance space.
  • It is a part of IDBI Bank which is a leading universal commercial bank in India.

Leading Indian Life Insurers Partner with Cognizant to Develop Industry-Wide Blockchain Solution for Secure Data-Sharing and Improved Customer Experience

Retrieved on: 
Monday, April 16, 2018
Financial services, Finance, Economy, BSE SENSEX, CNX Nifty, ICICI Bank, AXA, Cognizant, Blockchain, Aegon, Life insurance, IDBI Federal Life Insurance

MUMBAI, India, April 16, 2018 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) and a consortium of leading Indian life insurers comprising SBI Life Insurance, Max Life Insurance, Canara HSBC OBC Life Insurance, Edelweiss Tokio Life, IDBI Federal Life Insurance, Birla Sun Life Insurance, HDFC Life, Kotak Life, Tata AIA Life, PNB MetLife, IndiaFirst Life Insurance, ICICI Prudential Life Insurance, Bharti AXA, Aegon Life, and SUD (Star Union Dai-ichi) Life Insurance today announced that they have developed a blockchain solution to facilitate cross-company data-sharing.

Key Points: 
  • MUMBAI, India, April 16, 2018 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) and a consortium of leading Indian life insurers comprising SBI Life Insurance, Max Life Insurance, Canara HSBC OBC Life Insurance, Edelweiss Tokio Life, IDBI Federal Life Insurance, Birla Sun Life Insurance, HDFC Life, Kotak Life, Tata AIA Life, PNB MetLife, IndiaFirst Life Insurance, ICICI Prudential Life Insurance, Bharti AXA, Aegon Life, and SUD (Star Union Dai-ichi) Life Insurance today announced that they have developed a blockchain solution to facilitate cross-company data-sharing.
  • This will enable the insurers to reduce the risk of data breaches, fraud and money-laundering, while delivering superior experience to customers through improved process efficiency, better record-keeping, and accelerated turnaround time.
  • The solution, developed late last year as part of a collaborative blockchain program undertaken by the consortium, is among the consortium's first distributed ledger initiatives.
  • We are pleased to be a part of this path-breaking consortium of Indian life insurers and collaborate with Cognizant on driving distributed ledger innovations of tomorrow."