Life and Health Insurance
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LANSING, Mich.-- A continuation of a 1 percent tax on health insurance claims passed Michigan's Senate Thursday, but yet to be resolved is how to ensure the levy brings in enough revenue for Medicaid, which serves 1.9 million low-income state residents. Rick Snyder's proposed expansion of Medicaid eligibility to 320,000 more low-income adults.
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MADISON, N.J.-- Health insurer Humana is selling a toxicology and clinical lab business, a division of its Concentra health care provider, to Quest Diagnostics Inc.. The Madison, N.J., company's first-quarter net income fell 15 percent as people cut back on medical spending and more Medicare reimbursements cut into revenue.
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NEW YORK, May 15- After years of urging its financial advisers to sell more life insurance, UBS Wealth Management Americas is bringing in full-time experts and offering financial incentives to prod its tradition-bound sales force outside its comfort zone.
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TOKYO, May 14- Asian shares steadied on Tuesday, snapping a two-day losing streak as a suprising rise in U.S. retail sales boosted optimism about the recovery in the world's largest economy, but the dollar took a breather after recent broad gains ahead of more data.
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BLOOMFIELD, Conn.-- Cigna Corp. said Monday that it has appointed Thomas A. McCarthy as its executive vice president and chief financial officer. McCarthy, currently Cigna's vice president of finance, will succeed Ralph J. Nicoletti in July. The company, based in Bloomfield, Conn., said that McCarthy will draw from many years of experience and success at Cigna.
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Under Obamacare, employers offering more generous benefits to highly paid workers could face fines of $100 a day for every worker who doesn't get the perks, up to $500,000.
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May 8- The Obama administration on Wednesday revealed what hospitals charge for medical procedures commonly performed on Medicare beneficiaries including the elderly and disabled. But analysts note that the charges are much higher than the prices that Medicare and private health insurers actually pay for hospital service.
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MONTGOMERY, Ala.-- A bill that restructures the way Medicaid is administered passed the Alabama Legislature Tuesday and now awaits the governor's signature. The State Medicaid Agency now pays doctors directly for services provided to Medicaid patients.
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CHICAGO, May 07 Fitch Ratings has affirmed the' A' Issuer Default Rating of Aetna Inc. and the' AA-' Insurer Financial Strength ratings of various Aetna insurance operating subsidiaries and removed the ratings from Rating Watch Negative.
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CHICAGO-- The race is on in Illinois for $28 million in grants to help consumers learn how to shop for health insurance. "We've got a big job to do making sure that people across Illinois are aware of the affordable and high-quality health care coverage options that will soon be available through the Affordable Care Act," Quinn said in a statement. "
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More than 70 percent of those responding to a recent survey by Merrill Lynch said that outliving their good health was more of a concern than outliving their money.
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BRUSSELS, May 6- The following are mergers under review by the European Commission and a brief guide to the EU merger process:. --RAG trust and buyout firm CVC Capital Partners to sell part of their shares in German chemicals company Evonik Industries.
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PARIS/ LONDON, May 03 Fitch Ratings has affirmed all AXA entities' Insurer Financial Strength ratings at' AA-'. Fitch has also affirmed AXA SA's Long-term Issuer Default Rating at' A' and Short-term IDR at' F1'. Fitch has also assigned Deutsche Arzteversicherung an IFS rating of' AA-' and AXA Global P&C an IFS rating of' A+'.
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LONDON, May 03 Fitch Ratings has affirmed Aegon N.V.' s Long-term Issuer Default Rating at' A' and senior unsecured debt at' A-'. Fitch has also affirmed Aegon's primary North American life insurance subsidiaries Insurer Financial Strength ratings at' AA-'.
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MADRID, May 3- Sabadell said on Friday it was taking full control of life insurer Mediterraneo Vida by buying a stake from Dutch firm Aegon, as banking reforms put an end to once-popular insurance joint ventures in Spain. Spain's fifth biggest bank, Sabadell paid Aegon just under 450 million euros for the 49.9 percent stake it did not yet own in Mediterraneo Vida.
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**Verizon Communications would like to buy out Vodafone from their Wireless joint venture but will not do so at any cost, its chief executive has told JP Morgan analysts.
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BRUSSELS, May 3- The following are mergers under review by the European Commission and a brief guide to the EU merger process:. --RAG trust and buyout firm CVC Capital Partners to sell part of their shares in German chemicals company Evonik Industries.
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AMSTERDAM, May 3- Dutch life insurer Aegon. The sale of the joint venture stake was part of a restructuring of Aegon's Spanish operations following consolidation of Spain's banking sector, Aegon said in a statement. Aegon will keep operating in Spain through other subsidiaries, it said.
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NEW YORK, May 03 Fitch Ratings has affirmed the' AA-' Insurer Financial Strength rating of Mutual of America Life Insurance Company. MOA's risk-based capital ratio was 447% at Dec. 31, 2012 and Fitch expects it to remain well above 400% over the medium term.
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Fitch placed Athene on Rating Watch Negative on Dec. 21, 2012 following the company's announcement that Athene Holding Ltd. would be acquiring the U.S. annuity and life operations of Aviva PLC for $1.55 billion. Following close, Aviva USA's insurance operations will become wholly owned subsidiaries of Athene.