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Insurance

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F&G enters funding agreement backed note market with $750M issuance

Des Moines-based life and annuities company F&G announced it has entered the funding agreement backed note market with an initial $750 million note issued by F&G Global Funding, an unaffiliated Delaware trust. The agreement marks …
By BPC Staff | Jun 29, 2021
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Principal to exit consumer life insurance, fixed annuities following sweeping strategic review

Principal Financial Group this morning announced significant changes to its product portfolio and capital management strategy, following a comprehensive review of the company’s business mix and capital management options. The strategic review was part of …
By BUSINESS RECORD STAFF | Jun 28, 2021
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NOTEBOOK – ONE GOOD READ: Survey by indexed annuity consortium turns up surprising twists on retirement knowledge

Nearly one-third of American workers said the pandemic delayed their plans for retirement, according to a new survey by the Indexed Annuity Leadership Council. “The pandemic has impacted the way Americans are planning, saving, and living in …
By JOE GARDYASZ | Jun 24, 2021
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Winnebago sees big turnaround in third-quarter income

Radio Iowa: Winnebago Industries reported third-quarter net income of $71.3 million, rebounding from a net loss of $12.4 million in the year-ago quarter that was affected by the start of the pandemic. Winnebago CEO Michael Happe said …
By BPC Staff | Jun 24, 2021
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Vaughan named business director of Tippie’s Vaughan Institute

Terri Vaughan, a longtime leader in Iowa’s insurance community, has been named the professional director of the Vaughan Institute of Risk Management at the University of Iowa’s Tippie College of Business, effective Sept. 1. The Vaughan Institute …
By BPC Staff | Jun 24, 2021
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American Equity awards $1.15M-plus separation package to former CFO

American Equity Investment Life Holding Co. this week disclosed details of a separation agreement it reached with its former chief financial officer, Ted Johnson. The West Des Moines-based publicly traded company had announced on May 24 that …
By BPC Staff | Jun 22, 2021
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Seven insurers pool resources to launch cyber analysis, risk mitigation company

Seven leading cyber-insurance providers have formed a new company, CyberAcuView, in a collective effort to enhance cyber-risk mitigation efforts across the insurance industry, the Insurance Journal reported. Formed by AIG, Axis, Beazley, Chubb, the Hartford, Liberty Mutual …
By BPC Staff | Jun 21, 2021
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Wellmark to end cost-share waiver for COVID treatment on June 30

Wellmark Blue Cross and Blue Shield, Iowa’s largest health insurer, plans to end the cost share waiver for its fully insured and Medicare supplement members who are undergoing inpatient treatment related to COVID-19 diagnoses, effective …
By BPC Staff | Jun 17, 2021
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Rutledge announces retirement, succession plan for Farmers Mutual Hail

Farmers Mutual Hail Insurance Co. of Iowa announced that Ronald Rutledge (left) will retire from his position as president and CEO effective Dec. 30. Rutledge has led the national farm insurance company since January 2011, and has worked …
By BPC Staff | Jun 16, 2021
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Principal to shut down RobustWealth digital advice subsidiary

Principal Financial Group has made a “strategic business decision” to close down its RobustWealth subsidiary, the digital advice startup company that it acquired in 2018, Digital Insurance journal reported. Principal made the decision after it completed its …
By BPC Staff | Jun 15, 2021