BATON ROUGE, La.–(BUSINESS WIRE)–
Guaranty Income Life Insurance Company, a leading provider of fixed indexed annuities, celebrates its 100th year of supporting the financial needs of hard-working Americans. Since its founding in 1926, Guaranty Income Life has earned a reputation for financial strength, trust, and delivering dependable retirement solutions.
“It takes perseverance, dedication, and integrity to help families protect their wealth for 100 years,” said Joe Wieser, President of Guaranty Income Life Insurance Company. “Our century-long financial strength reflects the commitment of our employees and financial professionals to deliver on our promises. The first century is proof of a strong start. The next hundred years is now underway.”
Guaranty Income Life has demonstrated that doing right by people is more than a promise—it’s the company’s policy, because behind every policy is a person.
That commitment has fueled meaningful milestones: reaching $1 million in life insurance reserves during the Great Depression; pioneering AnnuiCare – the industry’s first annuity-based, long-term care product in the 1990s; and becoming one of the earliest carriers to implement fully digital electronic applications in the 2020s. Above all, it has guided Guaranty Income Life’s mission to help clients protect what they’ve built and plan confidently for the future.
In 2016, Guaranty Income Life entered a transformative new chapter by joining the Kuvare family of companies. Since then, Guaranty Income Life has experienced extraordinary growth—from $500 million to more than $10 billion in assets—while continuing to innovate and deepen its commitment to the customers and communities it serves.
As Guaranty Income Life marks its centennial, it remains focused on the future. Building on a legacy defined by innovation, resilience, and customer-first values, Guaranty Income Life is poised to continue delivering straightforward, dependable retirement solutions for the next generations of Americans seeking greater financial security.
About Guaranty Income Life Insurance Company
Guaranty Income Life Insurance Company, a Kuvare company, empowers hard-working Americans with confidence to navigate retirement’s financial complexities. Its innovative lineup of fixed and indexed annuities is built to simplify their path to a secure financial future. For more information, visit GILICO.com.
About Kuvare
Kuvare is a dynamic international financial services platform with nearly $50 billion in assets supporting life insurance, annuities, reinsurance, advisory, and asset management solutions. Founded in 2015 and headquartered in the Chicago area, Kuvare follows a long-term growth strategy. The Kuvare family of companies includes Kuvare Life Re, Lincoln Benefit Life, Guaranty Income Life, United Life, Kuvare Strategic Investments, and Ignite Partners. For more information, visit kuvare.com.
Launch coincides with Bitcoin’s 17th anniversary and the second anniversary of IBIT
ZIONSVILLE, Ind.–(BUSINESS WIRE)–
Delaware Life Insurance Company, a Group 1001 company, today announced the addition of the BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index to its fixed index annuity (FIA) portfolio, making Delaware Life the first insurance carrier to offer an index that contains cryptocurrency. This strategic addition enables investors to diversify their portfolios and gain exposure to Bitcoin, while providing full protection of the principal contributed to the FIA.
Delaware Life Insurance Company Launches Industry’s First Fixed Indexed Annuity with Bitcoin Exposure
Delaware Life is committed to innovation and expanding investment opportunities in the annuity space.
“We’re proud to partner with BlackRock as the first insurance carrier to offer cryptocurrency exposure through a fixed index annuity,” said Colin Lake, President & CEO of Delaware Life Marketing. “As the retirement-planning landscape evolves, we’re continuously and thoughtfully innovating to meet the needs of financial professionals and their clients. Our fixed index annuities deliver what today’s investors want and need: opportunity for growth with protection.”
The BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index is designed to deliver:
Blended growth exposure: Combines U.S. equities and Bitcoin in one index for diversified return potential.
Risk-managed design: Targets 12% volatility, using dynamic cash adjustments to help smooth Bitcoin’s inherent volatility.
Efficient crypto access:Provides professionally managed Bitcoin exposure without the complexity of direct crypto ownership through the use of iShares Bitcoin Trust ETF (IBIT), the largest and most liquid of the Bitcoin exchange-traded products (ETP).1
The launch coincides with Bitcoin’s 17th anniversary and the second anniversary of IBIT, marking a milestone in bringing digital assets into traditional retirement products.
“This launch builds around the tremendous success and client demand we have seen for IBIT, enabling insurance clients to now add bitcoin exposure as part of a broader indexed annuity strategy,” said Robert Mitchnick, Global Head of Digital Assets at BlackRock. “The BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index offers a measured approach, allowing policyholders to participate in digital assets while maintaining the downside protection they expect from annuity products.”
The BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index is available as an index option on three of Delaware Life’s products: Momentum GrowthTM, Momentum Growth PlusTM, and DualTrack IncomeTM. For more information on the BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index and Delaware Life’s FIAs, visit https://www.delawarelife.com/product/fia.
About Delaware Life Insurance Company
Delaware Life is a life insurance and annuity company that empowers financial professionals with a wide array of customizable solutions. A subsidiary of Group 1001, we were born out of the advisor industry, and we understand how important it is to find the right fit for every client, every situation, and every individual need. We’re passionate about equipping you with annuities that give your customers peace of mind and a successful future—allowing them to plan with confidence for whatever’s next.
About Group 1001
Group 1001 Insurance Holdings, LLC (“Group 1001”) is a collective that empowers companies to create positive growth. Our insurance and annuities are easy to understand and accessible to all. Our online investing platform gives individuals control over their savings. Our technology and innovation help companies succeed. And our strategic partnerships bring people together through education and sports.
As of September 30, 2025, Group 1001 Insurance had more than 1,500 employees and combined assets under management of $76.4 billion and provides over 496,000 active annuity contracts and life insurance policies. It comprises the following brands: Delaware Life, GainbridgeSM, Clear Spring Life and Annuity Company, Clear Spring Property and Casualty Group, Clear Spring Health, and the RVI Group, among others.
About BlackRock
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock
BlackRock Index Services, LLC (“Index Services”), a subsidiary of BlackRock, Inc. designs, sponsors and publishes the BlackRock Index for use in portfolio benchmarking, and portfolio management.
This information must be accompanied or preceded by a current iShares Bitcoin Trust ETF prospectus, which may be obtained by clicking here. Please read the prospectus carefully before investing.
The iShares Bitcoin Trust ETF is not an investment company registered under the Investment Company Act of 1940, and therefore is not subject to the same regulatory requirements as mutual funds or ETFs registered under the Investment Company Act of 1940.
Investing involves a high degree of risk, including possible loss of principal. An investment in the Trust is not suitable for all investors, may be deemed speculative and is not intended as a complete investment program. An investment in Shares should be considered only by persons who can bear the risk of total loss associated with an investment in the Trust. This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy advice.
Investing in digital assets involves significant risks due to their extreme price volatility and the potential for loss, theft, or compromise of private keys. The value of the shares is closely tied to acceptance, industry developments, and governance changes, making them susceptible to market sentiment. Digital assets represent a new and rapidly evolving industry, and the value of the Shares depends on their acceptance. Changes in the governance of a digital asset network may not receive sufficient support from users and miners, which may negatively affect that digital asset network’s ability to grow and respond to challenges. Investing in the Trust comes with risks that could impact the Trust’s share value, including large-scale sales by major investors, security threats like breaches and hacking, negative sentiment among speculators, and competition from central bank digital currencies and financial initiatives using blockchain technology. A disruption of the internet or a digital asset network would affect the ability to transfer digital assets and, consequently, would impact their value. There can be no assurance that security procedures designed to protect the Trust’s assets will actually work as designed or prove to be successful in safeguarding the Trust’s assets against all possible sources of theft, loss or damage.
The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).
BLACKROCK and iSHARES are trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. All other marks are the property of their respective owners.
BlackRock, Inc. is not affiliated with Delaware Life or its affiliates.
1 Source: Bloomberg, as of December 31, 2025. Based on 20-day average trading volumes across all U.S. spot bitcoin ETPs, since the commencement of trading on Jan. 11, 2024 through Dec. 31, 2025. Liquidity, characterized by strong trading volume. Fund size determined by AUM.
Suitability standards for life insurance and annuities haven’t stood still. Over the last decade, they’ve been revised, challenged in court and reinterpreted as regulators try to balance consumer protection with access to financial guidance. For organizations supporting insurance distribution across states and product types, that evolution has at times created more complexity than clarity.
Brian Peterson
Today’s reality is a patchwork of suitability, best-interest and fiduciary-adjacent standards that aim to, but may not always, align. Although the rules are largely in place, supervision, interpretation and documentation continue to shift based on enforcement priorities.
That framework shifted after the Department of Labor’s 2016 attempt to expand fiduciary investment advice under the Employee Retirement Income Security Act. Although the rule was vacated by the Fifth Circuit Court of Appeals in 2018, it reignited debate over whether suitability alone was sufficient.
In response, the NAIC revised Model #275 in 2020 to incorporate a best-interest standard. The updated model requires producers and insurers to act with reasonable diligence, disclose conflicts, and document recommendations. By April 2025, all 50 states had adopted a best-interest annuity sales standard, with New Jersey becoming the final state to align.
Federal oversight hasn’t disappeared. The SEC’s Regulation Best Interest governs variable annuities and broker-dealer activity, while the DOL continues to revisit fiduciary standards for retirement advice. In late 2025, the federal government withdrew its defense of the latest DOL fiduciary rule, reinforcing a reality insurance organizations and financial professionals know well: There is no single standard of care, only overlapping ones.
Why ‘best interest’ still feels unsettled
On paper, best interest sounds straightforward. In practice, interpretations still vary across regulators, industry groups and advocacy organizations.
All 50 states have adopted best-interest annuity sales standards, but consistent enforcement across jurisdictions remains elusive. New York stands apart, with DFS Regulation 187 requiring producers and insurers to ensure recommendations are made in the consumer’s best interest, supported by explicit supervisory obligations.
At the same time, draft guidance from the NAIC’s Annuity Suitability Working Group has made it clear that regulators expect more than passive compliance. Recent examinations have identified what regulators describe as “systematic deficiencies” in how insurers and distribution partners monitor third-party supervision, particularly in broker-dealer and hybrid environments.
In other words, responsibility doesn’t transfer just because supervision does.
What regulators are signaling now
Recent guidance highlights several expectations organizations across the insurance ecosystem can’t ignore.
Active oversight matters: Regulators are no longer satisfied with complaint-based monitoring alone. They expect evidence of ongoing review, risk analysis and engagement.
Safe harbor isn’t automatic: Although the NAIC model allows reliance on comparable standards such as Reg BI or ERISA fiduciary rules, insurers must verify those standards are met and continue to monitor compliance.
Third-party relationships are under scrutiny: Broker-dealers, supervising entities and vendors are increasingly viewed as extensions of an insurer’s overall risk profile.
Documentation is a differentiator: Client files that clearly show how recommendations were made and reviewed and conflicts of interests were managed or mitigated are better positioned during exams.
These expectations reflect broader regulatory trends. According to NAIC data, more than 2 million individuals and more than 236,000 business entities are licensed to sell insurance in the U.S. Managing conduct consistently at that scale requires systems, not assumptions.
Where financial professionals tend to struggle
Regulatory complexity often gets the most attention, but internal execution is where many financial professionals and organizations supporting fixed insurance distribution encounter challenges. Most gaps come down to process, not intent. They tend to show up as:
Sales processes that aren’t consistently designed to support client best-interest considerations or protect the financial professional’s practice.
Documentation that exists but doesn’t tell a coherent story, making it harder to demonstrate how decisions were made when scrutiny arrives.
These issues rarely signal negligence. More often, they reflect growth that has simply outpaced governance.
Where stronger oversight tends to show up in practice
Across the fixed insurance ecosystem, organizations that navigate this environment well tend to focus less on chasing regulatory perfection and more on building defensible consistency while doing right by the client. That focus often shows up through:
Clearly defining oversight roles among insurers, agencies, and supervising entities so responsibilities don’t fall through the cracks.
Using risk-based monitoring insights, such as trends involving replacements, early surrenders or sales to older consumers, to inform oversight efforts.
Providing training that helps translate regulatory language into real client conversations.
Treating documentation as narrative, not just recordkeeping.
Suitability standards aren’t just a regulatory box to check. They’re directly tied to trust, retention and the long-term credibility of the industry.
Demographics are part of the reason. More than 4.1 million Americans are expected to turn 65 each year through 2027, roughly 11,200 people a day. Most won’t have a traditional defined-benefit pension, and many will rely on annuities and life insurance to help create income, manage risk and protect what they’ve built.
That reality raises the stakes. How products are recommended and supervised now shapes consumer confidence at a time when retirement decisions feel increasingly permanent.
Financial professionals who treat suitability as a starting point, instead of the finish line, are better positioned for whatever version of “best interest” comes next, without scrambling to rebuild their processes every time the rules shift.
The path forward
The regulatory landscape for life and annuities isn’t getting simpler. Federal and state standards will keep evolving, and enforcement priorities will continue to shift alongside them.
Agents don’t win by trying to anticipate every rule change. They win by always putting the client first, documenting their decision-making, and remaining aware of how industry rules and expectations continue to evolve.
Client interest, consistency and documentation aren’t compliance formalities. They’re what separate financial professionals who scramble when scrutiny arrives from those who operate with clarity, credibility and staying power.
Question from Annette: I’m looking at Medigap Supplements. Does anyone have experience with Transamerica Life Insurance or UHC through AARP? Those are the only 2 offered in my state that don’t use Attained Age for premiums. I am specifically looking for info about how much their rates increase each year.
Answer: How Supplements are labeled, Age Attained, Issue Age, or Community Rated, has little or no bearing on which will be more or less expensive in 5 to 10 years. You should not make your choice based on that, nor familiarity with the name of the company or what a friend or family member has. None of those guarantee fewer or lower premium increases.
Profitability or loss is the key
The biggest determining factor in future rates is company profitability or loss year to year on each letter plan they offer, and rate increases must be approved by a state Insurance Commission with proof it’s warranted. For example, everyone in Pennsylvania who has United Health Care Plan G, which is Community Rated, is in a pool. If that pool of business is profitable in their fiscal year, and they pay out 85 cents or less in claims for every dollar they collect in premiums, barring some crazy increase in reimbursement rates to providers by Medicare, there will not, and cannot, be any increase. If they pay out more than 85 cents, they can request and will likely be approved for a premium increase. The less profitable they are, the steeper the hike. Almost all Supplement companies in Pennsylvania lost money on most or all letter plans they offered in 2024. The result was some of the highest premium increases I’ve seen in my 18 years in the Medicare insurance industry for 2025.15% on United Healthcare which is the only Community rated company available in Western PA. We also have clients who had rate increases on Age Attained Supplements we are currently recommending or have in the past: 9.5% for Cigna, 12% for Medico, 18% for Aetna, and 20% for All State.
Attained Supplement premium increases should not scare anyone away
What many people get concerned about is the guaranteed rate increase that Age Attained Supplements have every year as one gets older. This doesn’t concern us because it’s very mild and doesn’t start until age 68. From age 68 to 72 the Age Attained increase is $3 to $4, from 73 to 77 it’s $4 to $6, from 78 to 82 it’s $6 to $8 and 83 to 90, $10 to $12. Prior to 2024, on Plan N here in Pennsylvania, it was very common to go 3 years without any rate increase other than those because the companies we recommended most were often profitable.
What The Health Insurance Store looks for in a Supplement
What we want for our clients is a company whose starting rate is significantly less than the competition. We don’t care if they’re labeled Age Attained, Community Rate, or Issue Age. Companies with lower starting premiums tend to draw larger and healthier pools by enrolling not just those going on Medicare for the first time, who they must accept regardless of pre-existing conditions, but also healthy people who can pass medical underwriting and are leaving more expensive companies. A pool with a larger percentage of healthy members generally equates to fewer and lower premium increases.
As far as keeping rates down long term, choosing Plan N instead of G is the most effective way to assure longer term affordability on Supplements. Let me explain.
N instead of G
Currently the least expensive Plan N plan for a 65-year-old female is $86/month while G is $129. If there is a 12% rate increase per year on both N and G, which I think is quite realistic, the following will be the rates in 5 and 10 years from now: 2031 Plan N = 152 and Plan G = $228. In 2036 Plan N = $267 and Plan G $401. In just 5 years N will cost $912 less per year and in 10 years $1,656. And I believe I’m being conservative because Plan G, historically, has had more, and higher, rate increases than N.
Plan N differs from Plan G only in that there’s a $20 co-pay for physicians’ office visits and $50 for a trip to the Emergency Room. Be advised that Physical Therapy, blood work, X-rays, MRIs, etc., are NOT subject to a copay. Therefore, G offers no value to anyone who isn’t going to see doctors, 20, 40, or 80 times per year! This is why we almost never recommend Plan G.
If you’re currently on Plan G and can pass underwriting, switch to N now! You can do that all year round! Those who have been on Plan G for five to ten years, on average, save $1,000 to $3,000 a year immediately.
With questions or to make an appointment for a no cost consultation, give us a call, 724-603-3403, or reach out to me personally via email, Aaron@GetYourBestPlan.com.
Last year proved to be a strong year in both the individual life and annuity markets – through Q3 2025, individual life premium was up 13% year over year, while policy counts were up 10%.
2025 YTD total annualized premium (through Q3)
YoY change vs. 2024 total sales through Q3
Term life
$2.3B
2% increase
Whole life
$4.6B
6% increase
Fixed universal life
$0.7B
4% decrease
Variable universal life
$1.9B
35% increase
Indexed universal life
$3.2B
20% increase
Total
$12.8B
13% increase
Source: LIMRA
Chris Taylor
In an industry accustomed to 1%-3% annual growth, the significant growth in premium and policies seen in 2025 reflect an active life insurance market.
Annuities have seen eight consecutive quarters of sales over $100 billion, with total sales of $345 billion through Q3 2025 – up by 4% YoY.
2025 YTD total sales (through Q3)
YoY change vs. 2024 total sales through Q3
Fixed rate deferred
$127B
2% increase
Fixed indexed
$94B
1% decrease
Registered index-linked
$57B
18% increase
Variable
$47B
6% increase
Single premium immediate
$6B
2% decrease
Deferred income
$3B
11% decrease
Total
$345B
4% increase
Source: LIMRA
Annuity sales are poised to pass 2024’s record-breaking year, providing strong momentum headed into 2026. Looking forward, here are some key trends and questions facing the life and annuity markets.
Can life carriers sustain 2025’s significant growth?
There has historically been a gap in life insurance coverage, driven in part by perceived unaffordability, delays in traditional life events (e.g., marriage, home purchases, birth of children) and overall marketing challenges. Last year saw the industry overcome these challenges.
Life carriers should expect growth to continue in 2026, although not all carriers will share evenly in the profits. IUL and VL should continue to see significant growth, as participants seek to have greater equity exposure. A lower interest rate environment may impact whole life sales but expect a long-term uptick in burial policies as an aging population prepares for final expenses.
Will annuity sales continue to break records?
The demand for accumulation and decumulation products should continue to drive overall annuity sales to new records in 2026, but overall growth will likely decelerate. With a lower interest rate environment, expect some fixed annuity owners to exchange their policies for other types of annuity products. FIA sales will continue to be strong but will likely see lower or possibly flat growth. Instead, the annuity market should prepare for significant growth in the RILA market, as consumers seek to get greater market participation with downside protection.
What role will product innovation play in driving sales?
While life and annuity carriers should be bullish on growth prospects, the key differentiator will be how carriers differentiate their products in the market. A preliminary view provides three ways that carriers can address needs in the market.
The first is in the RILA market – expanded distribution and product offerings will likely drive sales in the space, with new entrants providing new product features. The second is in hybrid products – both the life and annuity space can provide bundled or multifaceted products that can provide additional benefits to the policyholder. Long-term care hybrids are one option, but other material living benefits (e.g., trusts and wills) may solve unique customer needs and drive sales. The third are distribution channel-specific products. Designing products and experiences for individual sales channels (e.g., fee-based products for the registered investment advisory channel) provides carriers with significant growth opportunities.
What technology investments will carriers make in 2026?
In 2026, carriers should continue to invest in data and technology capabilities to improve processes and their ability to serve agents and policyholders.
Here are two things to watch for in the industry. The first is evidence of capability gaps between leaders and followers – those who have delayed modernization efforts will begin to see the gap between them and leading carriers grow (e.g., new business cycle times). The second is how carriers will leverage technology to expand distribution capabilities, particularly as a differentiator in third-party distribution.
What will happen with artificial intelligence in 2026?
No 2026 trend list would be complete without a reference to AI. Most carriers are still in the transition phase from dabbling in AI to leveraging AI to significantly impact the way they do business. Expect carriers to focus on specific AI use cases that can eventually be scaled to other parts of the business. This includes sales and distribution, underwriting, and policy administration and servicing.
This is poised to be an exciting year for the life and annuity market – both for growth and innovation.
2026 JAN 19 (NewsRx) — By a News Reporter-Staff News Editor at Insurance Daily News — According to news reporting originating from Washington, D.C., by NewsRx journalists, a trademark application has been made for “G THE GUARDIAN NETWORK” by Catherine M.C. Farrelly Frankfurt Kurnit Klein & Selz, representing The Guardian Life Insurance Company of America. This application was made available to the public on January 06, 2026.
The serial number for this application is 88103631.
The international trademark goods and services class code for this trademark application is 036. The applicant indicates that “Color is not claimed as a feature of the mark. The mark consists of the words ‘THE’, ‘GUARDIAN’ and ‘NETWORK’ set out in a stylized format and vertically aligned with ‘GUARDIAN’ emphasized, all to the right of a stylized lower-case letter ‘G’ comprised of two vertically interlocking circles, the top circle having a stem, the bottom circle featuring a small gap on the left side.”
As submitted by the applicant, this trademark application relates to the following goods and services: Providing insurance, financial and investment services, namely, group and individual life, disability, accident, critical care, pet, vision, hospital indemnity, and dental insurance underwriting services; retirement planning services, namely, financial planning for retirement; retirement investment fund management; actuarial services; insurance administration; financial analysis and consultation; financial asset management; annuity underwriting and administration; insurance and securities brokerage; administration of employee benefit plans concerning insurance and finance; fiduciary representative services; electronic funds transfers; investment advice; investment management; money management; investment fund management; retirement investment management; providing information in the fields of insurance, financial, and investment services via a global computer network; managing, advising on and administering a network of financial, insurance, investment, retirement and annuity advisors and agents.
The registrar information for this application is: Catherine M.C. Farrelly Frankfurt Kurnit Klein & Selz, 28 Liberty Street, New York, NY 10005, UNITED STATES.
(Our reports deliver fact-based news of research and discoveries from around the world.)
The following information was released by the U.S. Department of Justice:
James E. Monroe Jr., 60, of Daniels, was sentenced today to three years of federal probation, including six months on home detention, formoney laundering.
According to court documents and statements made in court, on February 25, 2022, Monroe filed a petition for personal bankruptcy. Monroe knew he was required to submit true and correct schedules listing his assets and a statement detailing his financial affairs as part of the bankruptcy process. Monroe admitted that he sold his collection of over 10,000 sports trading cards after filing for bankruptcy and without disclosing its existence or its post-petition sale in the bankruptcy filings as required. Monroe further admitted that he sold the collection to a friend online to convert the collection into cash and disguise the nature of the resulting proceeds.
Monroe admitted that his asset schedules and statement of financial affairs also did not disclose the December 2021 sale of his marital home in the Glade Springs residential development for $525,000, or the existence of a retirement account, two loans he obtained by using the equity associated with his whole-life insurance policy as collateral, and a storage unit he rented in the Shady Spring area that contained property belonging to the bankruptcy estate. Monroe further admitted that his schedules falsely stated that his then-minor daughter lived with him and was his dependent when neither was true.
United States Attorney Moore Capito made the announcement and commended the investigative work of the Federal Bureau of Investigation (FBI). The United States Trustee’s Charleston field office, which serves West Virginia, made the criminal referral of this case to the U.S. Attorney’s Office. The United States Trustee Program is a component of the Department of Justice whose mission is to promote the integrity and efficiency of the bankruptcy system for the benefit of all stakeholders debtors, creditors and the public.
Chief United States District Judge Frank W. Volk imposed the sentence. Assistant United States Attorney Jonathan T. Storage prosecuted the case.
A copy of this press release is located on the website of theU.S. Attorney’s Officefor the Southern District of West Virginia.Related court documents and information can be found onPACERby searching for Case No. 5:24-cr-121.
Continued economic turmoil is a market concern, but life insurance and annuity sales are expected to remain solid throughout 2026, LIMRA projects.
Bryan Hodgens, senior vice president and head of LIMRA research, and Sean Grindall, chief member relations and solutions officer, hosted a LinkedIn Live event last week to discuss sales projections.
LIMRA is projecting solid growth this year in both life insurance and annuities.
“For the past several years, if you’re looking at the U.S. retail life insurance and annuity markets, we’ve seen some pretty remarkable growth,” Hodgens said.
Life insurance new premium set records in three of the past four years, Hodgens noted, and is poised to set a record when the 2025 data is finalized.
Still, LIMRA projects as many as 100 million Americans live with a life insurance coverage gap.
“We’ve had some great growth that awareness has helped,” Grindall said, “but there’s just still so much opportunity in front of us.”
On the annuity side, LIMRA is projecting sales to exceed $450 billion for 2025, which is double the sales of just four years ago. It is expected to be the fourth consecutive year of record annuity sales.
“So, both the life and the annuity have a lot of momentum,” Hodgens said.
Sales keep rolling on
While life insurance products are flying off the shelves, those sales are not taking place in a trouble-free environment. The market is actually quite disrupted with both positive and negative factors.
The economy, for one.
“We’ve had favorable economic conditions,” Grindall said. “Interest rates have been more elevated than we’ve seen in a while for several years. We’ve had a robust equity market that’s particularly helped things like index universal life and VUL [variable universal life].”
A stronger job market and some wage growth have helped many Americans find the money for life insurance premiums, he added.
On the other hand, a LIMRA survey of Americans found that 52% say that they’re extremely concerned about the economy right now, Hodgens noted. The continued inflation and stubborn unemployment in certain sectors are other areas of concern, he added.
“I think that this plays into our growth projections, and the sentiment certainly plays into where we think consumers are going to be thinking about, particularly in that middle market for insurance,” Hodgens said.
Life product projections
Hodgens and Grindall discussed LIMRA projections for every life insurance category.
LIMRA cooks up forecasts based on household income, inflation, economic conditions, equity markets, interest rates, unemployment, consumer demand, geopolitical risks, the need gap, and past projections of sales by product.
“All of that gets factored into some of these forecasts and these assumptions here,” Hodgens explained.
Term life:Growth will range from 0% to 4%, “constrained by economic activity and rising unemployment.”
Whole life:Expected to grow 1% to 5%, supported by short-pay sales but tempered by a slowing economy and by mutual carriers shifting some focus to universal life.
Fixed universal life:Continues to decline, with premiums expected to fall 3% to 7%.
Indexed universal life:Growth slows from 21% to 25% in 2025, to 8% to 12% as premium financing benefits from lower rates but forces competition from new IUL products.
Variable universal life: After surging nearly 30% in 2025, VUL growth will drop to 1% to 7%, reflecting equity and market volatility and saturation in private placement sales.
SINGAPORE–(BUSINESS WIRE)– AM Best has maintained its outlook on India’s non-life insurance segment at stable, citing supportive macroeconomics, as well as insurance demand buttressed by regulatory initiatives and reforms.
India’s non-life segment recorded mid-single-digit premium growth for the fiscal year ending 31 March 2025 (FY2025), according to the Best’s Market Segment Report, “Market Segment Outlook: India Non-Life Insurance.” Growth moderated relative to the prior year given the pricing pressure in the fire segment and slower business expansion in motor insurance. FY2025 also saw changes in accounting for long-term policies, further dampening reported growth. Despite these challenges, momentum is expected to improve over the near term as insurance demand strengthens and regulatory financial inclusion initiatives gain traction.
“India’s long-term economic outlook remains favourable for non-life insurance growth despite the near-term moderation,” said Chris Lim, associate director, analytics, AM Best. “Recent reform to the goods and services tax directly supports insurance demand by reducing the rate on individual life and health insurance policies to 0% from 18%. Improved affordability, particularly for health insurance policies, is expected to bolster individual health insurance demand meaningfully.”
A key provision in the recently passed Sabka Bima Sabki Raksha Bill (Amendment of Insurance Laws), 2025, raises the foreign direct investment limit in insurance companies to 100% from 74%. This is expected to attract additional capital, enhance financial flexibility and bolster the segment’s solvency.
“While increased foreign participation may initially intensify competition, it is also likely to accelerate innovation, efficiency and market maturity over time”, said Victoria Ohorodnyk, director, analytics, AM Best.
The report also notes that investment yields for Indian non-life insurers are expected to remain broadly steady. Consistent interest rates, together with the resilience of domestic equity markets, are expected to support investment returns over the medium term, although elevated equity exposure heightens sensitivity to market volatility.
Rob Curtis, managing director and chief executive officer of AM Best’s Singapore operations, will be attending the 19th annual India Rendezvous, which is taking place 19-21 January 2026, at the JW Marriott Mumbai Juhu, in Mumbai, India. To arrange a meeting with Curtis at the conference to learn more about AM Best, its role in the insurance industry and the resources it offers to insurance professionals, including Best’s Credit Ratings and Best’s Performance Assessments for Delegated Underwriting Authority Enterprises, please email rob.curtis@ambest.com.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
OLDWICK, N.J.–(BUSINESS WIRE)– AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa-” (Superior) of the members of Health Care Service Corporation Group (HCSC Group). Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICRs of “a” (Excellent) of Health Care Service Corp Medicare & Supplemental Group Members (HCSC Medicare & Supplemental Group). The outlook of these Credit Ratings (ratings) is stable. (See below for detailed listing of the companies and ratings). The ultimate parent of both these groups is Health Care Service Corporation, a Mutual Legal Reserve Company (HCSC), which is headquartered in Chicago, IL.
The ratings of HCSC Group reflect its balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management (ERM).
The ratings of HCSC Group also reflect its continued favorable balance sheet strength despite recent operating performance challenges experienced in 2025. The company’s risk-adjusted capitalization remains at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). HCSC’s consistent capital and surplus growth, driven by historically favorable net income accretion, has generally outpaced premium growth and driven increased risk-adjusted capitalization. AM Best expects that HCSC’s absolute capital will decline somewhat in the near-term given expected operating losses through year-end 2025; however, AM Best still expects HCSC’s BCAR to remain at the strongest level. Furthermore, HCSC has demonstrated ample contingent liquidity and strong financial flexibility through numerous sources, including its available cash position, and its five-year, $1.25 billion senior unsecured revolving credit facility with a consortium of banks along with its borrowing capacity under the Federal Home Loan Bank of Chicago (FHLB) of over $2.0 billion.
AM Best notes that HCSC’s statutory financial leverage increased recently to just under 20%, due to a new debt issuance in 2024 and FHLB debt in 2025, but remains within acceptable ranges for the ratings. In addition, HCSC’s earnings before interest and taxes interest coverage ratio has historically been strong prior to 2025. Further, HCSC has reported strong operating cash flows through the latter part of 2025. HCSC’s invested assets are held predominantly in investment grade fixed income securities and cash/cash equivalents, and there are no material exposures, as its investment portfolio is quite liquid and has been managed with relatively low risk.
HCSC’s acquisition of The Cigna Group’s Medicare and CareAllies businesses closed in the first quarter of 2025. As expected, this transaction had a limited impact on HCSC’s overall balance sheet strength metrics. The transaction has expanded HCSC’s geographic diversification footprint, with the addition of business outside of HCSC’s core Blue-branded states and added diversity within its Medicare Advantage and supplemental health lines of business. Additionally, HCSC has gained new network relationships, membership expansion and revenue growth, all of which offers additional competitive advantages, scale and capabilities.
Prior to 2025, which has been a challenging year across the industry, HCSC had reported fairly consistent revenue growth and solid operating earnings in most of its business segments, with double-digit revenue growth during 2024, even before the Cigna-related acquisition. Operating revenue growth has been driven by both organic and external opportunities, via a combination of new business expansion, membership growth and premium rate increases. Significant growth has recently been driven by membership growth across most lines of business, with HCSC’s commercial, individual and family enrollment gains more than offsetting the attrition that occurred in the Medicaid segment from the redetermination process and membership acquired from the Cigna-related acquisition. Overall earnings, although solid through year-end 2024, have been impacted on an underwriting basis by higher-than-expected utilization, claims costs, and member acuity across all lines, driven by a mix of inpatient, outpatient, pharmaceutical cost trends, as well as a shift in membership mix related to Medicaid redetermination and the change in this membership population. This trend was observed during the fourth quarter of 2024, after pricing was already established for 2025.
Throughout 2025, and into the later part of that year, the organization’s underwriting performance worsened, driven by a combination of factors. Revenues were equally distributed throughout the year, so with the increasing claims costs HCSC typically reports higher than targeted margins in the first half of the year and lower in the latter half. Deterioration was expected from second quarter of 2025 to the third quarter of 2025; however, not to the extent of the actual third quarter loss. The full year has been impacted by continued higher claims trends, both at HCSC and across the industry. For 2026, HCSC has repriced its business and refined strategies across its various lines, to improve operating results.
HCSC’s market leadership position in its five core Blue Cross states provides a foundation for further membership growth across multiple lines of business. HCSC’s portfolio includes owned and affiliated companies that provide the organization with added diversified capabilities. HCSC can provide a comprehensive suite of solutions for complex and chronic conditions to drive down the cost of care.
The ratings of HCSC Medicare & Supplemental Group’s reflect its balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, neutral business profile, appropriate ERM and the financial and operational support of its parent.
These entities were acquired by the parent organization, HCSC, during the first quarter of 2025, and include Medicare Advantage, Medicare Part D, Medicare Supplement and Care Allies businesses.
While capitalization was previously managed at lower levels for some HCSC Medicare & Supplemental Group entities, capital levels have been bolstered throughout 2025. HCSC has committed to fund additional capital in the future to support growth, novated business and additional projected acquisition related costs and operating losses. HCSC Medicare & Supplemental Group’s BCAR is projected to remain at the strongest level at year-end 2025.
HCSC Medicare & Supplemental Group’s balance sheet strength assessment of very strong reflects the sound consolidated absolute capital position of the group, its relatively modest underwriting leverage at 3.6 times and strong liquidity measures. Invested assets are invested similarly to HCSC, and conservatively allocated, held largely in investment grade fixed-income securities.
The HCSC Medicare & Supplemental Group has contributed substantially to net premium growth in core target Medicare Advantage and supplemental markets for the organization, driven by membership growth across its suite of product offerings. This should help the broader organization offset attrition in its Medicaid line of business, as growth in the Medicare-related business is expected to continue. AM Best notes that consolidated underwriting and net income trends have been very challenged by changes to Medicare reimbursement and a higher-than-expected medical cost trend, both of which are expected to continue into 2026. Management is focused on premium optimization, Star ratings and risk payment, as well as cost and expense management and efficiencies across its various Medicare Advantage plans as a part of improving future performance. Investment income has been steady and will remain a meaningful contributor to net earnings.
HCSC Medicare & Supplemental Group’s core offerings are Medicare Advantage, Medicare Part D and Medicare Supplement products, which are offered across numerous states that are outside of the parent’s core market. The group has exhibited consistent historical membership growth in its main markets driven by government business, primarily Medicare Advantage, Medicare supplement and Medicare Part D, and other supplemental accident & health (A&H) offerings, which should complement and bolster its diversification.
The HCSC Medicare & Supplemental Group’s ERM program is integrated and managed at the ultimate parent level at HCSC, and is well-developed with a comprehensive risk identification, monitoring, mitigation and oversight process.
Finally, these entities benefit from rating enhancement as part of the parent HCSC, which is expected to provide financial support if necessary. In addition, these entities will be managed with a consolidated cost structure that management expects to lead to improved profitability and economies of scale over time and will expand HCSC’s geographic presence and diversification with the addition of business. The new membership base and revenues will aid in providing additional scale and capabilities to HCSC’s Medicare Advantage and supplemental health segments.
AM Best has affirmed the FSR of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) with stable outlooks for the following members of HCSC Group:
Dearborn Life Insurance Company
Dearborn National Life Insurance Company of New York
GHS Health Maintenance Organization, Inc.
GHS Insurance Company
Health Care Service Corporation, a Mutual Legal Reserve Company
HCSC Insurance Services Company
Health Care Service Corporation-Texas HMO Line of Business
Health Care Service Corporation-Illinois HMO Line of Business
AM Best has also affirmed the FSR of A (Excellent) and the Long-Term ICRs of “a” (Excellent) with stable outlooks for HCSC Medicare & Supplemental Group’s Members:
HealthSpring National Health Insurance Company
Bravo Health Mid-Atlantic, Inc.
Bravo Health Pennsylvania, Inc.
HealthSpring of Florida, Inc.
Medco Containment Life Insurance Company
Loyal American Life Insurance Company
Provident American Life and Health Insurance Company
American Retirement Life Insurance Company
Medco Containment Insurance Company of New York
HealthSpring Life & Health Insurance Company, Inc.
HealthSpring HealthCare of Colorado, Inc.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
