Best's Review articles from November 2007

Best's Review archives from November 2007

Brought to you by ...(Editor's Prologue)(Brief article)
November 1, 2007... [ILLUSTRATION OMITTED] Because I'm a New York Yankees fan, I'm familiar with Aflac Sports Trivia questions. The company-sponsored questions appear during TV and radio broadcasts of baseball, NCAA football and NCAA Bowl games and NASCAR...

The rest of the story.(Comment)
November 1, 2007... [ILLUSTRATION OMITTED] "On Guard" (Sept. 2007) is a very interesting article but perhaps not in-depth enough. There is a federal agency, Office of Foreign Asset Control (OFAC) under the U.S. Treasury Dept., and thus under the Homeland...

Quote/unquote.(Comment)(Quotation)
November 1, 2007... Excerpted from BEST WEEK U.S./CANADA and BEST WEEK EUROPE "The European Commission seems to be prepared to strike at the insurance market, but not to draw blood." Andrew Hobson, Partner Reynolds Porter Chamberlain "We're...

Prudential sues for $80 million, claims subprime fund losses.(Briefing: Highlights From BestWeek)
November 1, 2007... Prudential Financial's retirement subsidiary has sued units of institutional asset manager State Street Corp. for $80 million, seeking restitution for major losses incurred this past summer by two funds which invested in subprime...

House extends PMI tax deductibility.(Briefing: Highlights From BestWeek)(Brief article)
November 1, 2007... The U.S. House of Representatives has passed legislation that extends for seven more years a tax deduction which allows many home buyers to deduct the cost of private mortgage insurance. By 386-27, the House approved H.R. 3648, the Mortgage...

Wading in line.(Briefing: Highlights From BestWeek)
November 1, 2007... [ILLUSTRATION OMITTED] Caption: WADING IN LINE: China's Zhejiang Province was flooded by Typhoon Wipha in late September but the financial center of Shanghai was spared. Meanwhile, hurricane forecaster Dr. William Gray predicted this...

Credit scores strike out in mass.(Briefing: Highlights From BestWeek)
November 1, 2007... Massachusetts Insurance Commissioner Nonnie Burnes has ordered one last regulation before a new competitive automobile insurance system begins next April. "I am banning the use of credit information from a consumer reporting agency in...

Consumer advocates: modelers aid price collusion.(Briefing: Highlights From BestWeek)
November 1, 2007... State regulators must exercise the same oversight of catastrophe modeling firms that they do over rate advisory organizations, consumer advocates told a National Association of Insurance Commissioners panel last month. The speakers cited...

Commissioners take action.(100 YEARS AGO in Best's Review)(Brief article)
November 1, 2007... Representatives from numerous insurance departments held an informal meeting on Nov. 21, 1907, in response to declining investment securities, according to Best's Review. With depreciation threatening the funds of many life and fire...

Provider-owned health plans: stable results despite pressure.(By the Numbers)(Brief article)
November 1, 2007... Provider-owned and affiliated health plans posted relatively stable results in 2006 despite competitive pricing pressure from national insurers and Blue Cross Blue Shield systems. A.M. Best believes this sector of the health insurance field...

Meetings.(Briefing: Highlights From BestWeek)(Calendar)
November 1, 2007... Nov. 5-7 World Captive Forum: Fairmont Scottsdale Princess Resort Scottsdale, Ariz. Phone: (952) 928-4659 Web site: www.worldcaptiveforum.com Nov. 7-9 Professional Liability Underwriting Society: Annual...

Florida re-enacts no-fault auto law.(Briefing: Highlights From BestWeek)
November 1, 2007... The Florida House and Senate have adopted new legislation to re-enact the no-fault automobile insurance law. Passage came four days after the law expired Oct. 1. The new measure includes reforms that are intended to "cut costs and reduce...

S. Carolina chief proposes wind/flood loss formula.(Briefing: Highlights From BestWeek)
November 1, 2007... Homeowners insurers' responsibility to cover a portion of hurricane losses where the relative contributions of wind and water are ambiguous would be made explicit under a standardized loss-allocation system proposed by South Carolina Insurance...

A.M. Best's stock indexes.(Briefing: Highlights From BestWeek)(Statistical table)
November 1, 2007... A.M. Best's Stock Indexes Four Weeks Ended Oct. 11, 207 (Dec. 31, 2004 = 1,000.00) [GRAPHICS OMITTED] Percent Change Index Month/ Year to Year/...

Reinsurers warn of danger posed by obesity epidemic.(Briefing: Highlights From BestWeek)(Brief article)
November 1, 2007... Obesity is rapidly becoming a major threat to healthcare systems, not just in the United States but also across Europe and Asia, warn two major reinsurers. "Obesity is a long-term serious problem for the insurance industry," Franz Benstetter,...

European risk controls fall short, Aon says.(Briefing: Highlights From BestWeek)(Survey)(Brief article)
November 1, 2007... Almost half of Europe's largest companies have not developed the necessary plans to deal with many of their most important risks, according to a global risk survey from broker Aon Corp. Extracting the European results, Aon found that 44% of...

ABI presses for action on flood protection.(Briefing: Highlights From BestWeek)(Association of British Insurers asks government to take proper action to control flood)
November 1, 2007... In the wake of severe flood losses this past summer, the Association of British Insurers has called on the government of the United Kingdom to increase spending on flood defenses and to pay more attention to the risks of flooding. Northern...

Lockton.(Agent/Broker)(appointments)(Brief article)
November 1, 2007... LOCKTON has named three new vice presidents to take up posts in its six-year-old Houston office. ROBERT BRUCE and ALBERT MARTIN will serve as senior vice presidents, and JEFF ESTRADA as an assistant vice president, in the Kansas City,...

Marsh & McLennan Cos. Inc.(Agent/Broker)(appointment of James Mcnasby)(Brief article)
November 1, 2007... MARSH & MCLENNAN COS. INC. has named JAMES MCNASBY to be general counsel of its insurance brokerage and risk advisory subsidiary. [ILLUSTRATION OMITTED] McNasby, 38, succeeds RICHARD SULLIVAN, who was made a judge on the U.S. District...

Guy Carpenter & Co. LLC.(Agent/Broker)(appointment of Joseph Vitale)(Brief article)
November 1, 2007... GUY CARPENTER & CO. LLC has named JOSEPH VITALE senior vice president of GCFac, the risk and reinsurance firm's dedicated facultative reinsurance unit. Vitale, 39, will work from the firm's New York offices, focusing both on strategic and...

Cigna Group Insurance names Woolf chief medical officer.(People in Insurance)(Dr. Allen Woolf )(Brief article)
November 1, 2007... Cigna Group Insurance has named Dr. Allen Woolf to the post of chief medical officer, where he will take charge of the company's programs promoting health and wellness, absence management and productivity, according to the company. In his...

Hylant Group.(Agent/Broker)(appointment of Frank Treco)(Brief article)
November 1, 2007... HYLANT GROUP has named FRANK "SKIP" TRECO president of its Indianapolis operations, overseeing Hylant offices in Bloomington and Carmel, Ind., and continuing the broker's expansion into employee benefits, personal lines and the large account...

Aon Consulting Worldwide.(Agent/Broker)
November 1, 2007... AON CONSULTING WORLDWIDE has announced appointments in several practice group offices nationwide, with 16 practice group vice presidents promoted to senior vice presidency posts, according to a company statement. Aon Consulting is the...

New York Life Insurance Co.(Life)(appointment of Richard Mucci)(Brief article)
November 1, 2007... NEW YORK LIFE INSURANCE CO. has named RICHARD MUCCI as the chairman and chief executive officer of the New York-based company's overseas outfit, New York Life International. Mucci will also join its executive management committee, according to...

AXA Equitable Life Insurance.(Life)(appointment of Bill Mcdermott, )(Brief article)
November 1, 2007... AXA EQUITABLE LIFE INSURANCE CO. has named BILL MCDERMOTT executive vice president of its corporate markets wing, and also a member of its executive management committee, according to a company statement. McDermott's post with the New...

Massachusetts Mutual Life Insurance Co.(Life)(appointment of Isadore Jermyn)(Brief article)
November 1, 2007... MASSACHUSETTS MUTUAL LIFE INSURANCE CO, has named 27-year company veteran ISADORE JERMYN chief actuary, with oversight of all MassMutual product reserves, pricing and illustrations, actuarial opinions and policyholder dividends. Currently...

Catlin Group Ltd.(Property/Casualty)(appointment of)(WillanM P. Casey)(Brief article)
November 1, 2007... CATLIN GROUP LTD. has named WILLIAM P. CASEY as the managing director and senior vice president of CATLIN SCOTTSDALE, according to a company statement. Casey will work in the Scottsdale, Ariz., office of the Bermuda-based property/casualty...

Safeco Corp.(Property/Casualty)(appointment of Diane Kelleher and Felix Huang,)(Brief article)
November 1, 2007... SAFECO CORP. has announced two new vice presidency appointments, with FELIX HUANG taking up a newly created corporate development post and DIANE KELLEHER a corporate planning and analysis post. Huang, who comes most recently from private...

W.R. Berkley Corp.(Property/Casualty)(appointment of Willamm J. Johnstion)(Brief article)
November 1, 2007... W.R. BERKLEY CORP. has named WILLIAM J. JOHNSTON as president of CLERMONT SPECIALTY MANAGERS LTD., one of the Greenwich, Conn.-based holding company's member subsidiaries. Johnston succeeds ALFRED SCHONBERGER, who will go on to serve as...

Allstate Insurance Co.(Property/Casualty)(appointment of J. Eric Smith president of Allstate Financial Services LLC)(Brief article)
November 1, 2007... ALLSTATE INSURANCE CO. has named J. ERIC SMITH president of Allstate Financial Services LLC, to oversee the sales and support of the Allstate Agency's financial service products. He joined Allstate in 2003, after 20 years with Country Insurance...

New PCI chief sees strength in association's diversity.(People in Insurance)(David A. Sampson employee of Property Casualty Insurers Association of America)(Brief article)
November 1, 2007... David A. Sampson has heard the stories. He knows all about the reputation for internal fractiousness at the Property Casualty Insurers Association of America, whose members have found themselves split over issues ranging from natural...

TIAA-CREF unveils new ad.(ADVERTISING)(Teachers Insurance and Annuity Association, College Retirement Equities Fund )(Brief article)
November 1, 2007... Financial services group TIAA-CREF recently launched its new national advertising campaign, the "powerof.org." The national multimedia campaign represents the next phase in the TIAA-CREF brand evolution, building on the corporate tagline "For...

'Cavemen' premieres.(TELEVISION)(Editorial)(Brief article)
November 1, 2007... [ILLUSTRATION OMITTED] It looks as if turning a popular 30-second television advertisement into a 30-minute sitcom is not so easy a caveman could do it. "Cavemen," ABC's much hyped but largely panned premiere episode, aired Oct. 2. The...

Conseco Worksite.(BRANDING)(Conseco insurance group launched a new logo)(Brief article)
November 1, 2007... CONSECO WORKSITE, the worksite marketing division of the Conseco insurance group, unveiled its new logo reflecting the company's renewed dedication to the worksite market. The new logo is featured in a print advertising campaign, launched this...

A.M. Best hosts Ad Summit.(Insurance Marketing)
November 1, 2007... A.M. BEST CO. will host the 2007 Insurance Marketing and Advertising Summit on Nov. 8, at the Hilton New York in New York City. Event sessions will include how to reach the insurance media and agents; how carriers are using direct marketing;...

Roll-Ups Grow to 7%.(SPOTLIGHT)(ING U.S. Financial Services)(Nationwide Financial Services Inc.)(Brief article)
November 1, 2007... Nationwide Financial Services and ING U.S. Financial Services each recently introduced minimum 7% annual roll-ups on their variable annuity income benefit bases. Benefit bases are shadow accounts used only to determine future guaranteed income....

Museum cover for nonprofits.(Property/Casualty)(Philadelphia Insurance Companies launches new Flexi Plus Five insurance plan)(Brief article)
November 1, 2007... [ILLUSTRATION OMITTED] Philadelphia Insurance Companies has added a museum product, Flexi Plus Five, to its lines of insurance for nonprofit organizations. The comprehensive management liability insurance addresses replacement cost,...

Supplemental medical to offset coverage gaps.(Employee Benefits)(Colonial Life and Accident Insurance Co. launched new health insurance plan for employees)(Brief article)
November 1, 2007... Colonial Life & Accident Insurance Co. has launched Medical Bridge 3000, a hospital confinement indemnity insurance plan that seeks to protect employees against rising out-of-pocket expenses. The voluntary plan is designed to fill gaps in...

New index annuities.(Life)(AIG Annuity Insurance Co)(Brief article)
November 1, 2007... Two insurers have announced new index annuity products. AIG American General's VisionMaximizer is a single-premium deferred annuity with a fixed account and three accounts that credit interest in part from increases in the S&P 500 Index. It...

UL policy appeals to business people.(Life)(Principal Financial Group Inc lainched a new insurance policy Universal Life Protector III)(Brief article)
November 1, 2007... Principal Financial Group has launched Universal Life Protector III, which offers long-term coverage and competitive premiums. The product features death-benefit protection up to age 121 and an issue age up to 85. The company has improved...

Probability of death prior to age 65 in the United States.(SNAPSHOT)(Brief article)(Statistical data)
November 1, 2007... SNAPSHOT Probability of Death Prior to Age 65 in the United States Males Starting Age Probability 25 18.06% 35 17.50% 45 ...

Rating actions.(Ratings)(insurance industry graded as per management)(Company rankings)
November 1, 2007... [ILLUSTRATION OMITTED] This edition reflects all rating actions--assignments, changes or placed tinder review--that occurred for life, health and property/casualty insurers domiciled in North America, as well as international insurance...

Score! Sports sponsorships are helping insurers increase brand awareness and extend their reach to consumers and agents.(Agent/Broker: Marketing)(Cover story)
November 1, 2007... [ILLUSTRATION OMITTED] Los Angeles Angels right fielder Vladimir Guerrero thrilled the crowds this past July when he cracked 17 home runs to win the 2007 State Farm Home Run Derby, one of the crown jewels of Major League Baseball's annual...

Wine defined: from the grape to the glass, risk and risk management are integral parts of the winemaking industry.(Property/Casualty: Commercial and Homeowners)
November 1, 2007... [ILLUSTRATION OMITTED] Ernest Hemingway once referred to wine as "the most civilized thing in the world." It also may be the most heavily insured, for the journey wine takes from the vine to the barrel, bottle and glass is tempered with...

A fresh approach: a little TLC goes a long way when selling LTC products to younger prospects.(Agent/Broker: Long-Term-Care Insurance)(Long Term Care Insurance )
November 1, 2007... [ILLUSTRATION OMITTED] Since time began, older people have commented on the tendency of young people to act as if they will live forever. It's hard to teach a toddler not to climb on chairs and tough to convince a teenager not to drive too...

Being there: with catastrophes on the rise, clients need their brokers more than ever.(Agent/Broker: Selling Insight)
November 1, 2007... According to a recent survey by the Insurance Services Office, the number of global catastrophes, both natural and man-made, has been growing steadily since 1970. Complex and esoteric, the risk of such incidents also is rising to the forefront...

Swiss watch: Swiss Re, the largest global reinsurer, runs like a well-oiled machine. Now the firm is focusing on emerging risks and new ways to transfer them.(Reinsurance/Capital Markets: Global Risks)(Company overview)
November 1, 2007... [ILLUSTRATION OMITTED] It's been called a "green" giant, a think tank and the House of 1,000 Specialties. In its home country of Switzerland, it is called Schweizerische Ruckversicherungs-Gesellschaft. In English, it is simply known as...

A tale of two tables: product development by life insurers this year has been influenced by an unusual choice: two mortality tables.(Life: New Products)
November 1, 2007... It is the best of times and the worst of times for life insurance manufacturers. It's the best because through next year, they can choose to base their product design on either the 1980 or 2001 CSO (Commissioners Standard Ordinary) mortality...

Barring further complications: starting next year, Medicare no longer will cover certain hospital-acquired conditions. Will private plans follow suit?(Health/Employee Benefits: Medical Errors)
November 1, 2007... [ILLUSTRATION OMITTED] In 2005, Henry McCown underwent an emergency appendectomy via minimally invasive laparoscopic surgery. Everything seemed to go as planned for McCown, a recently retired and physically fit 70-year-old from Austin,...

Here to stay: insurance-linked securities prove durable through the subprime crisis.(Reinsurance/Capital Markets: Insurance-Linked Securities)
November 1, 2007... [ILLUSTRATION OMITTED] The recent crisis in the subprime lending market, which has created a credit squeeze that's rocked companies and economies all over the world, does not seem to have hit capital markets badly enough for insurers,...

Insuring warhol: agents and brokers should work with insurers to educate clients on how to protect their investments in fine art.(Property/Casualty: Loss/Risk Management Insight)
November 1, 2007... [ILLUSTRATION OMITTED] An art collection can be the product of a sincere passion or simply a tool to diversify one's portfolio. Either way, it is likely that the collector may not fully understand the range of exposures that can damage...

High alert: insurers are covering high-end vacation homes by stepping up their risk management techniques.(Property/Casualty: Homeowners)
November 1, 2007... [ILLUSTRATION OMITTED] Insurance companies are wooing vacation-home owners as part of an attempt to corner this high-end niche market. Vacation homes can be a challenge to underwrite, because they often are located in high-risk areas...

Small commercial is redefined: insurers who open up eligibility, thresholds for the small commercial market allow themselves--and their partners--to accommodate a larger chunk of that market.(Property/Casualty: Underwriting Insight)
November 1, 2007... Listening and responding to the market is not always easy. But insurance companies that want to stay ahead of the curve know they need to evaluate their business at regular intervals and make the changes their customers and agents want. ...

Commercial lines continue to soften.(Property/Casualty: Loss/Risk Management Notes)(trends in insurance sector and it's premiums)(Brief article)
November 1, 2007... The pricing of commercial lines continued to soften during the third quarter of 2007, according to the Risk and Insurance Management Society Inc.'s Benchmark Survey. As has been the case in recent quarters, only property insurance showed...

Soft on hardware: as technology speeds up enrollment and claims filing, insurers dig deep to beat the competition with major hardware investments.(Technology: Hardware)(Colonial Life and Accident Insurance Co.)
November 1, 2007... Colonial Supplemental Insurance of Columbia, S.C., is way ahead of the field when it comes to the field technology fast track. The newly named marketing brand for Colonial Life & Accident Insurance Co. and a branch of Unum Group, Colonial...

Accounting for growth: thee 2008 NAIC budget estimates nearly $2 million more in revenues than expenses, but foreign travel and salary costs are up.(Regulatory/Law: NAIC Budget)(National Association of Insurance Commissioners)(Financial report)
November 1, 2007... [ILLUSTRATION OMITTED] The common issues and concerns that dominate discussions of the National Association of Insurance Commissioners' fiscal budget hardly change from year to year, but sometimes there are surprises. So, when Bill...

Taming the monster: underwriters may not be able to prevent seven-figure health claims, but they can lessen their impact.(Health/Employee Benefits: Underwriting Insight)
November 1, 2007... A million-dollar health-care claim occurs, on average, once a day in the United States. Additionally, as a health-care reinsurer, my company has seen the frequency of million-dollar claims increase 50% a year for the past several years due to...

The power of numbers: Aetna and UnitedHealth's contracts with AARP and its 39 million members are reshaping individual health-care.(Health/Employee Benefits: Health Insurance)(AARP Capital Growth Fund)
November 1, 2007... [ILLUSTRATION OMITTED] Beginning Jan. 1, the 39-million-member AARP will expand its individual health insurance offerings to Americans 50 years and older through two of the largest health insurers in the United States. The twin...

Hitting the ceiling: regulators are considering raising the cap on foreign direct investment in India's life insurance sector.(Life: India)
November 1, 2007... [ILLUSTRATION OMITTED] Private life insurance companies in India were nationalized in 1956 when they were taken over by the Life Insurance Corp., a government-owned business. They remained nationalized until the 1990s, when India's...

Fool's gold: focusing on top-line growth at all costs can be a terrible mistake.(Life: Selling Insight)
November 1, 2007... We all know the old saying, "Nothing happens until someone sells something." As true as that may be, let's not forget that what "happens" when a sale is made can be bad, as well as good. Wall Street may be fixated on top-line growth as a...

A clear case: DNA technology can verify medical claims.(Regulatory/Law: Workers' Compensation)
November 1, 2007... [ILLUSTRATION OMITTED] While the insurance industry has struggled with the application of scientific methods in litigated civil cases, the criminal court system, for many years, has relied upon the accuracy and specificity of DNA-based...

Of mad cows and litigators: when a food-borne illness breaks out, each link in the food supply chain becomes vulnerable and potentially liable.(Regulatory/Law: Legal Insight)
November 1, 2007... It was a call to arms. "Food fight!" was immortalized in National Lampoon's Animal House. Nearly a generation later, different kinds of food fights are brewing nationwide. In turn, insurers must prepare to effectively handle emerging coverage...

On solid ground: the high stakes involved in competing in a global economy are driving insurers to take a holistic view of data used in enterprise risk management.(Technology: Enterprise Risk Management)
November 1, 2007... [ILLUSTRATION OMITTED] In a dynamic global marketplace, insurance executives face pressure to deal with the increasing scope and complexity of risk not only the risk of loss and its financial consequences, but the risk of missed...

Global playbook: globalization and integration are helping insurers achieve business goals.(Technology: Technology Insight)
November 1, 2007... Globalization presents opportunities that offer companies in many industries, including insurance, a chance to look beyond their traditional markets for sales, or to consider increased investments in existing worldwide projects. Even if...

Several life insurers excel in online customer service.(Technology: Technology Notes)(Genworth Financial Inc.)(Principal Financial Group)
November 1, 2007... Thrivent Financial achieved an "Excellent" rating in this year's Third Quarter 2007 Online Customer Respect Study of the Life Insurance Industry by international research and consulting firm The Customer Respect Group. The study evaluated...

Ward continues to strive for Lloyd's electronic reform.(Technology: Technology Notes)(Richard Ward)(Brief article)
November 1, 2007... The clock is ticking for companies in the Lloyd's market that have not yet made much progress on electronic accounting and settlement, the market's chief executive warned. "On the accounting and settlement side, that's been disappointing,"...

Aon corp. subsidiary Aon Consulting Worldwide said it has acquired Conrad & Sons Risk Specialists Pte Ltd.(Agent/Broker)
November 1, 2007... AON CORP. subsidiary AON CONSULTING WORLDWIDE said it has acquired CONRAD & SONS RISK SPECIALISTS PTE LTD, a specialist employee benefits and risk management consultancy in Singapore.

Broker Hilb Rogal & Hobbs is acquiring Banc of America Corporate Insurance Agency, a segment of Bank of America.(Agent/Broker)
November 1, 2007... Broker HILB ROGAL & HOBBS is acquiring BANC OF AMERICA CORPORATE INSURANCE AGENCY, a segment of Bank of America. Terms of the transaction were not disclosed. The acquisition excludes Bank of America's consumer insurance business, Hilb Rogal...

Broker Brown & Brown Inc. has acquired the assets of Island Risk Management Associates Inc.(Agent/Broker)
November 1, 2007... Broker BROWN & BROWN INC. has acquired the assets of ISLAND RISK MANAGEMENT ASSOCIATES INC. Terms of the acquisition were not disclosed.

Arthur J. Gallagher & Co. is acquiring BIS Insurance Services Inc., located in Sacramento, Calif.(Agent/Broker)
November 1, 2007... ARTHUR J. GALLAGHER & CO. is acquiring BIS INSURANCE SERVICES INC., located in Sacramento, Calif. Terms of the transaction were not disclosed. BIS is an employee benefits broker providing customized benefits programs to clients in northern...

Axa Group said it reached an agreement with Bao Minh Insurance CORP. to establish a strategic partnership in Vietnam's insurance market.(Asia/Pacific)(Brief article)
November 1, 2007... AXA GROUP said it reached an agreement with BAO MINH INSURANCE CORP. to establish a strategic partnership in Vietnam's insurance market. Through the agreement, Axa will acquire a 16.6% stake in Bao Minh's share capital for 54 million [euro]...

Looking to gain a firmer foothold in the New England market, State Automobile Mutual Insurance Co. will assume operational control of Patrons Mutual Group of Connecticut.(Auto)(Brief article)
November 1, 2007... Looking to gain a firmer foothold in the New England market, STATE AUTOMOBILE MUTUAL INSURANCE CO. will assume operational control of PATRONS MUTUAL GROUP OF CONNECTICUT under an affiliation agreement entered into by both companies.

Austria's Vienna Insurance GROUP has entered the Albanian insurance market by buying a majority interest in Albanian insurer Sigma.(Europe)(Brief article)
November 1, 2007... Austria's VIENNA INSURANCE GROUP has entered the Albanian insurance market by buying a majority interest in Albanian insurer SIGMA. VIG bought the stake via TBIH Financial Services Group N.V., in which it has a majority stake. The company said...

Dutch insurer ING Group N.V. has completed the sale of its Belgian broker and employee benefits subsidiary to Belgian insurer P&V Verzekeringen.(Europe)(Brief article)
November 1, 2007... Dutch insurer ING GROUP N.V. has completed the sale of its Belgian broker and employee benefits subsidiary to Belgian insurer P&V VERZEKERINGEN. The sale of ING Insurance Belgium NV will produce a gain of 418 million [euro] (about $593 million)...

Willis A.G., the Swiss branch of broker Willis Group Holdings, doubled its presence in Switzerland with the acquisition of Burkart Risk Consulting & Partner A.G.(Europe)(Brief article)
November 1, 2007... WILLIS A.G., the Swiss branch of broker Willis Group Holdings, doubled its presence in Switzerland with the acquisition of BURKART RISK CONSULTING & PARTNER A.G. Terms of the acquisition were not disclosed. Willis will acquire all of Burkart's...

CEO: profitability is within sight for broker Integro.(Companies)(chief executive officers)(Brief article)
November 1, 2007... Budding insurance broker Integro is on track to double its revenue and jump on the profitability wagon in the next two years, according to its chief executive officer. [ILLUSTRATION OMITTED] In a conversation with Best's Review at the...

Aetna Inc. plans to acquire Goodhealth Worldwide, a managing general underwriter of international private health insurance.(Health)
November 1, 2007... AETNA INC. plans to acquire GOODHEALTH WORLDWIDE, a managing general underwriter of international private health insurance, in a move that will expand its presence in the global expatriate benefits market.

Humana Inc. has agreed to buy KMG America Corp., a Minnesota-based voluntary insurance benefits provider and third-party administrator, for $187.7 million.(Health)
November 1, 2007... HUMANA INC. has agreed to buy KMG AMERICA CORP., a Minnesota-based voluntary insurance benefits provider and third-party administrator, for $187.7 million. The acquisition is expected to close in 2008.

Universal American Financial Corp. completed its acquisition of MemberHealth Inc.(Health)
November 1, 2007... UNIVERSAL AMERICAN FINANCIAL CORP. completed its acquisition of MEMBERHEALTH INC., a privately held pharmacy benefits manager and national Medicare Part D plan sponsor, for $630 million.

Coventry Health Care Inc. completed its acquisition of the parent company of Vista Healthplans.(Health)
November 1, 2007... COVENTRY HEALTH CARE INC. completed its acquisition of the parent company of VISTA HEALTHPLANS, a Florida-based, privately owned plan, for about $685 million cash.

Access Plans USA Inc., a distributor of health insurance plans across the United States, said it plans to buy the discount medical plan unit of Protective Life Corp.(Health)
November 1, 2007... ACCESS PLANS USA INC., a distributor of health insurance plans across the United States, said it plans to buy the discount medical plan unit of PROTECTIVE LIFE CORP. Terms of the deal, a stock purchase agreement, weren't disclosed. It is...

Nationwide Financial has agreed to sell its active asset-management business to U.K.-based Aberdeen Asset Management Inc.(Life)(Brief article)
November 1, 2007... NATIONWIDE FINANCIAL has agreed to sell its active asset-management business to U.K.-based ABERDEEN ASSET MANAGEMENT INC. Terms of the transaction weren't disclosed. Portfolio managers, analysts and support staff are included in the deal,...

Unitedhealth Group got the green light from the California Department of Insurance for its proposed $2.6 billion acquisition of the Las Vegas-based Sierra Health Services Inc.(Mergers & Acquisitions)
November 1, 2007... UNITEDHEALTH GROUP got the green light from the California Department of Insurance for its proposed $2.6 billion acquisition of the Las Vegas-based SIERRA HEALTH SERVICES INC., the last approval needed from state insurance regulators to...

Erie Insurance Group.(Personal Lines)(Brief article)
November 1, 2007... ERIE INSURANCE GROUP will be expanding its operations into Minnesota by the end of 2009, the company said in a statement. Erie Insurance offers automobile, home, commercial, life and annuities and currently operates in 11 states and the...