Insurance

Des Moines-based Principal Financial Group Inc. announced today that it will exit the medical insurance business and eliminate approximately 1,500 positions, including about 650 in Greater Des Moines.

Principal has entered into an agreement with …

JPMorgan Chase Co. said on Wednesday that it was halting 56,000 foreclosures because some of its employees might have improperly prepared the necessary documents, The New York Times reported.

The bank, which lends through its …

A federal judge in Texas has ordered U.S. Bancorp to pay $53.2 million for infringing on a patent held by Plano, Texas-based DataTreasury Corp., the Minneapolis/St. Paul Business Journal reported.

U.S. District Judge David Folsom …

The U.S. government should gradually hand Fannie Mae’s and Freddie Mac’s loan guarantee functions to private companies, a Wells Fargo Home Mortgage Inc. senior executive said Tuesday. In testimony prepared for a House Financial Services …

Three Central Iowa credit union executives were among 12 members elected to the Iowa Credit Union League board of directors last week, the organization announced Tuesday. Michael Whittie, president of Federal Employees Credit Union in …

The American Bankers Insurance Association (ABIA) has elected John Sorensen to its board of directors, the organization announced this morning. Sorensen, president and CEO of the Iowa Bankers Association, was among 14 new members elected …

A.M. Best Co. has affirmed the financial strength rating of A and issuer credit rating of “a” for Centurion Life Insurance Co. The rating company also affirmed a financial strength rating of A- and issuer …

A.M. Best Co. has assigned a debt rating of “bbb-” to the $200 million 3.5 percent senior unsecured convertible notes due in 2015 of American Equity Investment Life Holding Co. The assigned outlook is negative, …