Rehabilitation plan of Mutual Benefit receives agreement of regulators and guarantee funds
Article Abstract:
Parties to the Rehabilitation Plan of the Mutual Benefit Life Insurance Co have reached a compromise which will give some protection to the 700,000 former customers , mainly through agreements with State Guarantee Funds. The state guarantee associations taking part will provide a minimum compounded 5% guaranteed annual crediting rate to policyholders rather than the 3.5% stipulated originally. The original Plan provision allowing Mutual management to extend payouts to policyholders for five additional years was also deleted.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
Confederation Life, a large Canadian insurer, fails
Article Abstract:
The failure of Confederated Life, Canada's fourth largest insurer, will likely result in restructured policies and low rates of return for the companies policy-holders. Confederated reported $14 billion in assets in 1993, making it the largest insurance company to ever fail in North America. Losses in real estate and mortgages led to a lowered rating for the company, which could not find a cash influx to boost its rating.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
Life companies report surplus increase
Article Abstract:
The Townsend & Schupp Life Insurance Business Risk Analysis Quarterly Review for the first nine months of 1991 reports a 12.5% increase in total capital and surplus among 130 life insurance companies. Strong operating earnings, capital gains from lower interest rates for bond portfolios, and record capital infusions for stock companies contributed to the growth.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Diversification and other investment issues of charitable and other trusts. Unrelated business income and the charitable organization
- Abstracts: Should a tenant receive the benefit of a landlord's insurance? Coverage for EIFS claims under the standard CGL policy
- Abstracts: Foundations of sand: the weak premises underlying the current push for proxy rule changes. The corporate governance reform act of 1995
- Abstracts: Calif. school says new ABA plan gives accredit where it is due. Bridgeport's fate at long last appears sealed - provisionally
- Abstracts: 5th Circuit ruling throws major fly in MCorp ointment. Courts prop up receivers' powers under bailout law. Lawyer after fee throws a wrench in USX arbitration