Featured Articles Blog

0

Uncategorized

Britain’s L&G Sells US Protection Unit to Japanese Insurer for $2.3 Billion

Article 0 Comments Legal & General said on Friday it would sell its U.S. protection business to Japan’s Meiji Yasuda for $2.3 billion in cash and said the Japanese firm would take a 5% stake in the British insurer, in the biggest strategic move so far under CEO António Simões. The group’s shares gained 8% in early trading. They have broadly been trending lower in recent years, but have risen around 12% year to date, outperforming the broader London and European stock markets. Simoes told reporters the transaction was the largest in the company’s history, adding it was part of his wider strategy announced last year to simplify the group, and would be followed by further, likely smaller disposals. The companies will also form a strategic partnership, with Meiji Yasuda taking a 20% stake in L&G’s U.S. pension risk transfer (PRT) business, a fast-expanding market globally as companies offload their pension schemes to insurers. L&G said it planned to launch a share buyback program worth an extra 1 billion pounds ($1.2 billion) after the sale. Simoes described Meiji Yasuda taking a stake in the group as a “vote of confidence” and said it did not indicate a desire for deeper...

Wawanesa the First Insurer to Achieve CSIO’s JSON API Standards Certification 0

Uncategorized

Wawanesa the First Insurer to Achieve CSIO’s JSON API Standards Certification

CSIO congratulates Wawanesa Insurance for achieving CSIO’s JavaScript Object Notation (JSON) Application Programming Interface (API) Standards Certification for Billing Toronto, ON (Feb. 5, 2025) – CSIO congratulates Wawanesa Insurance for achieving CSIO’s JavaScript Object Notation (JSON) Application Programming Interface (API) Standards Certification for Billing. Wawanesa is the first CSIO member to be certified in JSON API Standards, successfully implementing these Standards for Billing use cases and supporting real-time data exchange with brokers. Published by CSIO’s INNOTECH API Implementation Working Groups, JSON API Standards facilitate seamless communication between insurer systems and broker management systems (BMS). These Standards enable brokers to obtain information such as a payment status or billing schedule directly in their BMS, streamlining the process to better support their clients. Wawanesa implementing the JSON API Standards for Billing APIs will allow brokers to receive real-time data for Billing use cases once BMS vendors deploy them into production. This accomplishment demonstrates Wawanesa’s commitment to driving workflow efficiency for brokers. “As one of Canada’s leading mutual P&C insurers, we take pride in leading innovation and ensuring success for our broker community,” said Cam Muckosky, Vice President, Digital Delivery at Wawanesa Insurance. “The JSON API Standards Certification reaffirms our commitment to leading...

0

Uncategorized

Insurance Groups Pushing Hard for Georgia Tort Reform as State Liability Costs Soar

Article 0 Comments Georgia’s governor has asked state lawmakers for $175 million to cover the growing costs of liability claims against state agencies and employees, as the state’s liability insurance fund has dwindled to a fraction of the outstanding costs. The Atlanta Journal-Constitution reported that, like many U.S. states, Georgia utilizes both self-insurance and commercial carriers to cover liability claims for 325 state agencies and 130,000 employees. But claims have soared by more than 300% in the last decade and are expected to rise further in coming years, according to news reports. Claims range from vehicular damage from state roads to the death of young girls in foster care, to the deaths and injuries to inmates in state prisons. Gov. Brian Kemp also has proposed $600 million in safety and security upgrades in prisons. The requests come as Kemp and property-casualty insurance groups launch a major push for tort reform legislation in the state. The Insurance Information Institute this month launched an advertising and awareness campaign all across the Atlanta area, blaming legal system abuse for rising costs. Excessive lawsuits add an extra $1,415 per year to Georgians’ household expenses, Triple-I has estimated. The American Property Casualty Insurance Association also...

0

Uncategorized

Prudential Advisors Wants Advisors to Focus on Clients’ Diversity

When financial advisors embrace diversity, firms and clients both win. Understanding and embracing diversity is at the core of Prudential Advisors’ approach to its relationship with clients. This is also why the business is a member of the Luminaries Class of 2024 in two categories. The first is the Broker-Dealer Firm – Corporate Social Responsibility category. In the second, Jordan Toma, a Financial Professional with Prudential, was nominated for an Individual Award – in the Luminaries with Heart category. To better understand the business’ efforts, Jessica Wietmarschen, vice president of strategic initiatives at Prudential Advisors, and Keita Cline, vice president of business and market expansion in Prudential’s Individual Life business, sat down with Think Advisor Contributor Bobbie Turner to discuss the company’s efforts. Wietmarschen and Cline also discuss: ●     Prudential’s Blueprints to Black Wealth strategy and how that program has developed over the last several years; ●      How advisors can embrace client diversity to grow their business. ●      The importance of authentic community partnerships.

0

Uncategorized

Are you prepared? What Early Policy Changes Mean for Compliance in 2025

Sponsored by: Just a month into the new administration, key shifts in SEC oversight, enforcement, and regulatory priorities are already taking shape. With President Trump back in office and Mark Uyeda named as the new acting SEC Chair, financial firms must prepare for an evolving regulatory agenda and enforcement strategies. What does this mean for advisors, RIAs, broker-dealers, and private funds? How soon will these changes take effect, and how should your teams adapt? Join our panel of regulatory experts and practitioners for a deep dive into the administration’s first 30 days and how financial services firms may be impacted. Key takeaways: ●      Regulatory shifts in the administration’s first month ●      Regulatory proposals to watch—which rules are most likely to advance? ●      Shifts in enforcement priorities and what they mean for compliance teams and programs Don’t miss this timely discussion on the evolving regulatory landscape and how your firm can proactively prepare. Featured Speakers: Jamila Mayfield | Chief Regulatory Services Officer | COMPLYJamila Mayfield joined COMPLY in 2024 as the Chief Regulatory Services Officer, leading COMPLY’s consulting services arm. With her extensive regulatory experience, which spans over 20 years, Jamila will drive the strategic growth of the global consulting and...

Canada’s Managing Partners Program Offers a New Path to Insurance Business Ownership 0

Uncategorized

Canada’s Managing Partners Program Offers a New Path to Insurance Business Ownership

Turnkey Model Removes Barriers to Ownership for High-Performing Brokers Toronto, ON (Feb. 3, 2025) — Insurance professionals seeking to take control of their careers now have a clear, direct path to ownership through the newly launched Managing Partners Program. Designed to eliminate traditional barriers to business ownership, this program provides a turnkey solution with market access, mentorship, and cutting-edge technology, enabling experienced brokers to transition seamlessly from employment to ownership. Unlike franchise models that require high fees and restrictive agreements, the Managing Partners Program offers true independence while ensuring brokers have the support and infrastructure needed to scale their business successfully. Breaking Barriers to Insurance Ownership While the insurance industry has long offered opportunities for professional growth, true ownership has remained out of reach for many brokers due to high startup costs, limited carrier access, and lack of operational support. The Managing Partners Program removes these roadblocks with: Low-Barrier Entry – No costly franchise fees, no restrictive contracts. Exclusive Carrier Access – Direct relationships with leading insurers and specialty markets. Lloyd’s Coverholder Status – Immediate credibility, exclusive underwriting opportunities, and preferred market positioning. Industry-Leading Mentorship – Guidance from Randy Carroll and Andy Friyia, two of Canada’s most respected insurance leaders....

CGC Invests $200 Million in GreenieRE to Remove Financing Obstacles and Accelerate Access to Cheaper Power 0

Uncategorized

CGC Invests $200 Million in GreenieRE to Remove Financing Obstacles and Accelerate Access to Cheaper Power

This investment strengthens the financing ecosystem by removing risk and reducing costs to qualified clean power projects Washington, DC (Feb. 1, 2025) — The Coalition for Green Capital (CGC) is pleased to announce an investment of $200 million in GreenieRE, an impact-focused reinsurance company designed to remove financing obstacles in the insurance market to reduce costs and accelerate the deployment of clean energy technologies at-scale. Over the next decade, GreenieRE will create a ripple effect across the financing ecosystem and unlock over $30 billion in private-sector investment toward qualified projects that allows access to clean cheap power. A major obstacle for advancing clean energy projects is the lack of affordable and comprehensive insurance. Green banks, community lenders, and other financial institutions face significant challenges in securing insurance products that accurately assess risk, which is essential to qualify projects as investment-grade and attract private sector capital. Uncertainty around risk results in costly, restrictive, and limited insurance options, slowing the deployment of cost-effective energy solutions. GreenieRE will initially target bottleneck risks that are limiting the deployment of decarbonization infrastructure. The challenge is even greater for projects serving low-income and environmentally impacted communities, where perceived financial risks are higher. With CGC’s capitalization, GreenieRE...

0

Uncategorized

NC Governor Tests Lawmakers With Hurricane Helene Recovery Funding Request

Article 0 Comments RALEIGH, N.C. (AP) — North Carolina Gov. Josh Stein asked state legislators Monday to roughly double their spending so far on recovery from Hurricane Helene, warning that waiting will cause more business closings, housing construction delays and students falling behind. Speaking in a mountain county hit by the historic flooding, the new Democratic governor said he wants his $1.07 billion request enacted now by the Republican-controlled General Assembly — rather than wait for the two-year budget that starts in July, for which he’ll make an additional Helene appeal. At a news conference at a food bank in Mills River, about 260 miles (420 kilometers) west of Raleigh, Stein said the funds are urgently needed in the first half of the year “so that people can get their lives back together.” “If we do not act, some businesses will not be here in the summer, and we will miss an entire building season before the winter weather comes again,” he warned, calling the funds a high priority. The largest chunks of his proposal, which contains no tax increases, would fund grants for struggling businesses; help repair and rebuild homes; clean up farm debris; fix private bridges and roads;...

0

Uncategorized

2025 Advisor Wealthtech Survey Results: Key Takeaways

Editorial Webcast Sponsored by: eMoney Sponsored by: The results of Orion’s 2025 Wealthtech Survey are in, revealing both significant opportunities and pressing challenges for financial advisors. This year’s research highlights advisors’ top pain points, areas of investment, and how the evolving demands of end-investors are reshaping the industry. For the first time, the survey delves into the investor’s perspective, uncovering how clients increasingly expect personalized services that go beyond traditional investment advice. Advisors are being called upon to deliver comprehensive financial planning, retirement strategies, trust and estate services, tax solutions, and more — all integrated into a cohesive financial picture. While these demands may feel daunting, the good news is that emerging technologies and innovative strategies are enabling advisors to thrive in this dynamic environment. By attending this webcast, you will learn: – The top challenges and opportunities facing financial advisors in 2025 – Key drivers and roadblocks impacting technology adoption  – How end-investors are redefining expectations and what they demand from advisors today – Strategies and tools that can help advisors deliver personalized, multi-dimensional financial services – Insights on leveraging new technologies to streamline operations and enhance client relationships – Key trends that are reshaping the advisor-client dynamic and...

0

Uncategorized

WTW Reports Net Loss in 2024 With Organic Revenue Growth of 5%

Article 0 Comments WTW reported net Income for the fourth quarter of 2024 of $1.25 billion, compared to net income of $623 million in the same period in 2023. However, the broker saw a net loss for the year of $88 million, compared with net income of $1.1 billion during 2023. The 2024 loss was primarily related to more than $1.0 billion in impairment charges related to the sale of its direct-to-consumer insurance distribution business, TRANZACT, to the private equity firm GTCR and Recognize, a technology services investment platform, for $632.4 million. The TRANZACT deal was completed in January 2025 and first announced in October 2024. WTW’s diluted earnings per share was $12.25 for the quarter, up 105% over prior year, while the diluted loss was $0.96 for the year.Q4 revenue increased 4% to $3.0 billion from $2.9 billion in Q4 2023. Q4 revenue increased 4% to $3.0 billion, compared with $2.91 billion Q4 2023. Full-year revenue increased 5% to $9.93 billion from $9.48 billion reported during FY 2023. Organic revenues grew by 5% for both the quarter and the year, WTW confirmed. (Editor’s note: Marsh McLennan reported full-year and quarterly organic growth of 7% while Aon report FY and...