News for June

Mass. to get $3.4M from AIG workers comp deal Thursday,

June 21, 2012

BOSTON– Massachusetts officials say the state will receive $3.4 million as its share of a 50- state settlement with the American Insurance Group Inc. and its affiliates. Massachusetts insurance commissioner Joseph Murphy said on Thursday that the Bay State was among those that led the investigation of AIG’s practices. Murphy said Massachusetts’ share of…

Kansas receives $560K from settlement with AIGThursday,

June 21, 2012

AMTOPEKA, Kan.– Kansas has received more than $560,000 from a multistate settlement with insurance company American International Group Inc.. Kansas Insurance Commissioner Sandy Praeger said Wednesday the money has been deposited and will be used to support general government programs. AIG agreed to pay a $100 million penalty plus $47 million in taxes and…

Guardian Life: Recruitment of New Financial Representatives up 18% Through MayThursday,

June 21, 2012

The Guardian Life Insurance Company of America today announced that it has hired 341 financial representatives through May 2012, an 18% increase over the same period a year ago, putting the company well on track to reach its goal of recruiting 840 new financial representatives by year-end. “As the economy continues to experience uncertainty, Americans appear…


June 21, 2012

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Reviews and News for May 15th

PGI Acquires N.Y.-Based Program Administrator American Altair Group

PGI Commercial, the U.S. program manager of Bermuda-based insurance distributor Primary Group, has acquired the assets American Altair Group. American Altair Group (AAG), based in Hauppauge, N.Y., is a full-service program administrator that specializes in commercial real estate risks.

Ark. Farm Bureau Ratings Lowered; Louisiana Farm Bureau Affirmed

A.M. Best Co. has downgraded the financial strength rating to B++ (Good) from A- (Excellent) and issuer credit rating to “bbb” from “a-” of Farm Bureau Mutual Insurance Co. of Arkansas Inc. (Arkansas Farm Bureau) in Little Rock, Ark.

MetLife to Buy Georgia Golf Community

An agreement has been announced for the sale of posh golf community Reynolds Plantation in Greensboro, Georgia. The Atlanta Journal-Constitution reported that New York-based insurance and financial services giant MetLife said its agreement includes six golf courses, and  four marinas.