Heimeshoff v. Hartford Life & Accident Insurance Co.

AM Best Affirms Credit Ratings of The Hartford Financial Services Group, Inc. and Its Subsidiaries

Retrieved on:

Thursday, August 24, 2023

Banking, Professional Services, Insurance, Finance, Pressure, The Hartford, ERM, Risk management, Long-Term Capital Management, Credit, Federal Home Loan Banks, Investment, FSR, Superior, Heimeshoff v. Hartford Life & Accident Insurance Co., Growth, Long-term care insurance, NYSE

AM Best has affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IR) of The Hartford Financial Services Group, Inc. (The Hartford) (Delaware) [NYSE: HIG], which is the ultimate parent of the companies hereinafter mentioned.

Key Points:

AM Best has affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IR) of The Hartford Financial Services Group, Inc. (The Hartford) (Delaware) [NYSE: HIG], which is the ultimate parent of the companies hereinafter mentioned.
AM Best also has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) of Hartford Fire Insurance Company (Hartford, CT) and its pooling subsidiaries and affiliates, as well as Hartford Life and Accident Insurance Company (Hartford, CT) and Navigators Insurance Company (New York, NY), collectively known as the Hartford Insurance Group.
The outlook of these Credit Ratings (ratings) is stable.
The FSR of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) have been affirmed with stable outlooks for the following subsidiaries of The Hartford Financial Services Group, Inc.:

Federal Life Group Hires Knut Olson as CEO

Retrieved on:

Tuesday, August 8, 2023

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.

Thomas Marra Steps Down as Chair of Symetra Financial Corporation Board of Directors

Retrieved on:

Monday, July 31, 2023

Symetra Financial Corporation (“Symetra”), a wholly owned subsidiary of Sumitomo Life Insurance Company (“Sumitomo”), today announced the resignation of Thomas M. Marra as chair of its board of directors, effective July 31, 2023.

Key Points:

Symetra Financial Corporation (“Symetra”), a wholly owned subsidiary of Sumitomo Life Insurance Company (“Sumitomo”), today announced the resignation of Thomas M. Marra as chair of its board of directors, effective July 31, 2023.
“On behalf of Sumitomo and the board, we thank Tom for his service and longstanding commitment to Symetra and its success,” said Kensei Kawaguchi, Managing Executive Officer, Sumitomo Life Insurance Company, and Symetra Financial Corporation board member.
“He played an essential role in Sumitomo’s acquisition of Symetra, and in developing the productive relationship between the two organizations as CEO and then as board chair.
We wish him well in his future endeavors.”
Mr. Marra joined Symetra in June 2010 as president and chief executive officer of Symetra Financial Corporation and its insurance subsidiaries, a role he held until February 2018.

AM Best Affirms Credit Ratings of The Hartford Financial Services Group, Inc. and Subsidiaries

Retrieved on:

Thursday, August 25, 2022

Professional Services, Insurance, Finance, NYSE, Long-Term Capital Management, Credit, Globe Life and Accident Insurance Company, The Hartford, ERM, AM, Risk management, Heimeshoff v. Hartford Life & Accident Insurance Co., Federal Home Loan Banks, FSR, Long-term care insurance, Superior, Income, Insurance

AM Best has affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of a- (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IR) of The Hartford Financial Services Group, Inc. (The Hartford) (Delaware) [NYSE: HIG], which is the ultimate parent of the companies hereinafter mentioned.

Key Points:

AM Best has affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of a- (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IR) of The Hartford Financial Services Group, Inc. (The Hartford) (Delaware) [NYSE: HIG], which is the ultimate parent of the companies hereinafter mentioned.
The ratings reflect the Hartford Insurance Groups risk-adjusted capitalization, which remains at the strongest level, as measured by Bests Capital Adequacy Ratio (BCAR).
AM Best anticipates The Hartford will maintain solid liquidity to support any potential capital needs of its operating subsidiaries.
The FSR of A+ (Superior) and the Long-Term ICRs of aa- (Superior) have been affirmed with stable outlooks for the following subsidiaries of The Hartford Financial Services Group, Inc.:

MetLife Announces Leadership Changes

Retrieved on:

Wednesday, April 6, 2022

MetLife, Inc. (NYSE: MET) today announced a series of leadership changes.

Key Points:

MetLife, Inc. (NYSE: MET) today announced a series of leadership changes.
In 2013, he assumed leadership of MetLife Auto & Home, overseeing the launch of numerous initiatives to improve product, distribution, and customer focus.
Garver joined MetLife in 2016, and she has played a key leadership role in the implementation of MetLifes Next Horizon strategy.
I am grateful to Kishore for his significant contributions to MetLife throughout his tenure; these appointments showcase the depth and breadth of leadership talent at MetLife and our deep commitment to building a robust leadership pipeline, said Khalaf.

MetLife Announces Leadership Changes

Retrieved on:

Wednesday, April 6, 2022

MetLife, Inc. (NYSE: MET) today announced a series of leadership changes.

Key Points:

MetLife, Inc. (NYSE: MET) today announced a series of leadership changes.
In 2013, he assumed leadership of MetLife Auto & Home, overseeing the launch of numerous initiatives to improve product, distribution, and customer focus.
Garver joined MetLife in 2016, and she has played a key leadership role in the implementation of MetLifes Next Horizon strategy.
I am grateful to Kishore for his significant contributions to MetLife throughout his tenure; these appointments showcase the depth and breadth of leadership talent at MetLife and our deep commitment to building a robust leadership pipeline, said Khalaf.

The Hartford Introduces New Critical Illness Product To Cover More Conditions And Provide A Wider Range Of Benefits

Retrieved on:

Thursday, March 3, 2022

The Hartford , a leading provider of employee benefits and absence management, has introduced a new critical illness insurance 1 product that is designed to cover more health conditions and provide a wider range of benefits based on the severity of an individuals diagnosis.

Key Points:

The Hartford , a leading provider of employee benefits and absence management, has introduced a new critical illness insurance 1 product that is designed to cover more health conditions and provide a wider range of benefits based on the severity of an individuals diagnosis.
The Hartfords 2021 Future of Benefits study found that 29% of employers added critical illness as a benefit offering and 84% of those employers added it due to COVID-19.
In addition to providing partial benefits for less severe conditions, The Hartford has expanded the covered health conditions to include more infectious diseases (including COVID-19 hospitalization2), mental health conditions, neurological conditions, and birth defects providing a wider range of benefits for every life stage and coverage options for more than 160 conditions.
As a supplemental health benefit, critical illness insurance provides a lump-sum cash benefit for the diagnosis of certain medical conditions covered by the plan.

Thomas F. Wiese, former Executive Managing Director at Lombard, Joins Crown Global as President of Institutional Solutions

Retrieved on:

Monday, October 4, 2021

NEW YORK, Oct. 4, 2021 /PRNewswire-PRWeb/ -- Crown Global Insurance Group , a leading provider of private placement life insurance and annuities for ultra-high net worth individuals and institutional investors, announced today that Thomas F. Wiese, who previously served as Executive Managing Director at Lombard International, has joined Crown as President of Institutional Solutions.

Key Points:

NEW YORK, Oct. 4, 2021 /PRNewswire-PRWeb/ -- Crown Global Insurance Group , a leading provider of private placement life insurance and annuities for ultra-high net worth individuals and institutional investors, announced today that Thomas F. Wiese, who previously served as Executive Managing Director at Lombard International, has joined Crown as President of Institutional Solutions.
"Crown Global's unrivaled reputation in private placement insurance is a significant draw to institutional investors looking to optimize their net investment returns," said Tom.
"I look forward to working with Crown's leadership team to significantly expand their institutional business in the years to come."
Crown Global Insurance Group LLC , through its operating subsidiaries, provides efficient investment-enhancement strategies and products for institutional investors, investment managers and ultra-high net worth individuals.