Insurance News

U.S. Insurance M&A Takes Off

 

Insurance M&A transactions in the United States increased by 36 Percent in 2011, and deal value increased by 18 percent, according to a new study from Conning Research & Consulting.

While the pace of insurance M&A outside the United States was relatively consistent, U.S. transactions increased in every market segment, including property/casualty, life/annuity, health, distribution and service firms. The reported value of U.S. insurance M&A rose from $46.5 billion in 2010 to $54.7 billion in 2011.

The Conning Research study, “Global Insurance Mergers & Acquisitions in 2011: A Shift to Strategic Transactions” tracks and analyzes both U.S. and non-U.S. insu

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7.4-Magnitude Earthquake Jolts Oaxaca, Mexico

Yesterday, a 7.4-magnitude earthquake struck southern Mexico, destroying homes, and sending at least 11 people to the hospital. Pieces of buildings crumbled and fell as far away as Mexico City approximately 200 miles from the quakes epicenter. The epicenter is not being reported as about 15 miiles east of Ometepec, Guerrero.

Guerrero residents are reporting they felt aftershocks for hours after the initial quake, and news reports now indicate that many residents slept out of doors for fear of their houses collapsing.

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CFPB to Crack Down on Force-Placed Insurance

The Consumer Financial Protection Bureau will issue mortgage servicing rules this year that would impose new limits on force-placed insurance products and require additional disclosures for adjustable-rate mortgages, Director Richard Cordray said Tuesday.

The bureau will also issue a rule requiring servicers to provide consumers with better information in their billing statements, Cordray said in a speech to the National Association of Attorneys General annual meeting in Washington. Fixing the mortgage market is an “urgent priority” for the CFPB, he said.

“We now have the ability to examine participants in all segments of the mortgage market, and our authority over nonbanks will be especially helpful,” he said.

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Top 10 Senior Travel Safety Tips

While all travelers will benefit from reviewing and implementing these travel safety tips, seniors have a few extra concerns. They have to make sure pre-existing medical conditions are well managed before and during their trip. They have to take enough regular medication to last their entire trip. They also have to be aware of their own physical limits while traveling.

Senior Travel Safety Tips Before a Trip

1. Research the area youll be visiting, including State Department alerts and warnings, local weather, language and culture. Buy a guide book and read it before you go.

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