Fixed Annuity & Life wholesaler | SPIAquote.com | AnnuityExperts.com | FSD Insurance Services | licensed life agents/agencies. Available & responsive for new business & ongoing servicing. Experienced & reliable!
Published May 3, 2023
+ Follow
20 of the most notable insurance carrier failures:
Executive Life Insurance Company (1991) - One of the largest life insurance companies in the US, it went bankrupt due to investment losses in junk bonds.
Confederation Life Insurance Company (1994) - A Canadian life insurance company that went bankrupt due to a combination of mismanagement and a weak real estate market.
Mutual Benefit Life Insurance Company (1991) - A US-based mutual life insurance company that went bankrupt due to bad real estate investments and poor management.
First Capital Life Insurance Company (1991) - A life insurance company that went bankrupt due to high levels of junk bond investments.
Penn Treaty American Corporation (2009) - A US-based long-term care insurance company that went bankrupt due to a lack of reserves to pay claims.
Home Insurance Company (2003) - A US-based property and casualty insurance company that went bankrupt due to a combination of poor underwriting practices and losses from the 9/11 terrorist attacks.
Reliance Insurance Company (2001) - A US-based property and casualty insurance company that went bankrupt due to a combination of mismanagement and large losses from asbestos claims.
HIH Insurance (2001) - A major Australian insurance company that went bankrupt due to a combination of poor management, inadequate reserves, and fraud.
Equitable Life Assurance Society (2000) - A UK-based mutual life insurance company that went bankrupt due to a combination of guaranteed annuity rate liabilities and poor investment returns.
American International Group (AIG) (2008) - AIG was one of the largest insurance companies in the world when it faced financial distress during the 2008 financial crisis. The company had invested heavily in mortgage-backed securities and credit default swaps, and faced liquidity problems when the value of those investments plummeted. The US government stepped in with a bailout to prevent the company's collapse.
Conseco (2002) - A US-based life and health insurance company that went bankrupt due to a combination of high-risk investments and aggressive accounting practices.
Executive Risk (1997) - A US-based specialty insurance company that went bankrupt due to large losses from professional liability claims.
Kemper Insurance (2001) - A US-based property and casualty insurance company that went bankrupt due to a combination of asbestos and environmental claims, along with poor investment returns.
National Heritage Life Insurance Company (1999) - A US-based life insurance company that went bankrupt due to a combination of bad investments and fraudulent accounting practices.
Northland Insurance Company (1990) - A US-based property and casualty insurance company that went bankrupt due to a combination of underpriced policies and bad investments.
Pacific Mutual Life Insurance Company (1997) - A US-based mutual life insurance company that went bankrupt due to large losses from real estate investments and a decline in policy sales.
St. Paul Fire and Marine Insurance Company (2001) - A US-based property and casualty insurance company that went bankrupt due to a combination of asbestos and environmental claims, along with poor investment returns.
Standard Life Assurance Company (1990) - A UK-based life insurance company that went bankrupt due to large losses from investments in commercial property and stocks.
The Equitable Life Assurance Society (1991) - A US-based life insurance company that went bankrupt due to a combination of bad investments and fraudulent accounting practices.
Transit Casualty Company (1986) - A US-based property and casualty insurance company that went bankrupt due to underpriced policies and excessive risk-taking.
It's worth noting that while insurance company bankruptcies can have serious consequences for policyholders, they are relatively rare. Most insurance companies are able to weather economic downturns and other challenges without going bankrupt.
Help improve contributions
Mark contributions as unhelpful if you find them irrelevant or not valuable to the article. This feedback is private to you and won’t be shared publicly.
Contribution hidden for you
This feedback is never shared publicly, we’ll use it to show better contributions to everyone.
Annuity Awareness: The Period Certain Immediate Annuity Jun 2, 2023
I asked ChatGPT "What indicators should I look at to predict if bank CD rates are going to move up or down"? Here is the answer provided.... May 25, 2023
Split Annuity Strategy May 17, 2023
20 of the most notable US bank failures: May 3, 2023
A History Of The Single Premium Immediate Annuity Apr 21, 2023
Five reasons why a fixed annuity could be a wise choice for those who want to minimize their investment risk. Apr 18, 2023
Dependable insurance product for retirement savings. Easy to understand with strong guarantees! Apr 14, 2023
Start saving ASAP Jun 3, 2021
How much is your client NOT earning? Dec 18, 2020
No more next content
See all
Sign in
Stay updated on your professional world
Sign in
By clicking Continue to join or sign in, you agree to LinkedIn’s User Agreement, Privacy Policy, and Cookie Policy.
New to LinkedIn? Join now
Insights from the community
Insurance You’re starting a new job in the insurance industry. What are the top things you need to know?
Insurance You're starting a career in insurance. What are the most important things to look for?
Insurance You’re a new insurance agent. How can you make a name for yourself in the industry?
Insurance What are the best ways to leverage your insurance experience for investment opportunities?
Insurance How can you find the right insurance partner for your business?
Insurance What does an insurance agent do?
Insurance How do you become an insurance specialist?
Others also viewed
Career Life Insurance Distribution: A shock to the system John Lefferts 8y
KBRA Assigns an Insurance Financial Strength Rating of A- to Gleaner Life Insurance Society Andrew Edelsberg 6y
Could Alt Managers Upturn Insurance? Mohnish Kamat 3y
Digital Darwinism in Insurance: COVID-19 as a catalyst Srikant Venkatesh 3y
How to protect your most valuable asset Daren Givoque, CDFA 3y
Why do we need insurance? Peter Kovac 6y
Clientele: The Lasting “Shareholding” Plan. Legodi Papaki 4y
Navigating the Seas of Insurance: Your Trusted Guide to Protection Jonathan Quiñónez 6mo
FP Partner (7388) – Money Doctor Yuka Marosek, CFA 11mo
Best Of Best Businesses Of 2021 In Cleveland Ohio Susie Liberatore 2y
Executive Life Insurance Company is regarded to be the biggest bankruptcy of an insurance company in the United States in the course of recent years. Based in California, the life company had to file for bankruptcy in 1991 following disastrous investments in junk bonds.
The cheapest car insurance rate is $38 a month from Geico according to our research team's cost analysis of national average prices for minimum coverage. The top 10 cheapest car insurance companies are Nationwide, Geico, State Farm, Travelers, Progressive, AAA, Allstate, Chubb, Farmers and USAA.
Geico is not owned by Progressive. Berkshire Hathaway owns Geico, while the Progressive Corporation is an independent company. Progressive is the second-largest auto insurance company in the U.S., according to the NAIC.
It's important to know some of the reasons State Farm will deny claims. They might claim that you missed a payment, have lapsed coverage, insufficient evidence, lack of medical records, lack of witnesses, that you had a previous injury, that you really aren't that hurt, etc.
Life Insurance Company (LIC) from India has emerged as the world's strongest insurance brand, according to a report titled 'Brand Finance Insurance 100 2024' by London-based consultancy firm Brand Finance.
Life insurance is a very difficult product to sell. Simply getting your prospect to acknowledge and discuss the fact they are going to die is a hard first step. When and if you clear that hurdle, your next task is creating urgency so they buy right away.
In terms of number of policies settled during 2022-23, Max Life Insurance has the highest claim settlement ratio of 99.51%. With a 99.39% claim settlement ratio, HDFC Life Insurance came second on the list. Aegon Life Insurance bagged the third position with a 99.37% claim settlement ratio.
The industry recorded a net underwriting loss for 2022 of $26.9 billion, more than six times the $3.8 billion underwriting loss in 2021. The underwriting loss in 2022 was the largest the industry has seen since 2011.
Mutual of Omaha stands out as the best burial insurance company because there is no waiting period, and they generally have the lowest monthly premiums. Plus, they offer up to $50,000 in coverage, which is higher than most companies.
Address: Suite 769 2454 Marsha Coves, Debbieton, MS 95002
Phone: +813077629322
Job: Real-Estate Executive
Hobby: Archery, Metal detecting, Kitesurfing, Genealogy, Kitesurfing, Calligraphy, Roller skating
Introduction: My name is Gov. Deandrea McKenzie, I am a spotless, clean, glamorous, sparkling, adventurous, nice, brainy person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.