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Strategic Expansion into Asia Marked by Tokyo Office Launch and Key Leadership Appointment

TOKYO–(BUSINESS WIRE)–
Kuvare Holdings (“Kuvare”) is pleased to announce the official opening of a Japan Representative Office for its reinsurance affiliate, Kuvare Life Re Ltd. (“KLR”), marking a significant milestone in KLR’s strategic expansion into the Japanese and Asian markets. This formalized presence in Tokyo underscores Kuvare’s commitment to deepening relationships and fostering long-term partnerships throughout Japan and Asia.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250930454086/en/

Daisuke Nagamori appointed as Chief Representative for Kuvare Life Re’s Tokyo office

KLR has already completed significant reinsurance transactions with three leading Japanese life insurance companies. These transactions cover five distinct insurance products and are each structured on a forward flow basis, reflecting KLR’s ability to support its partners’ growth. To date, the total written premium under these agreements amounts to over ¥500 billion ($3.5 billion US Dollars), underscoring the scale and strategic importance of these partnerships.

“KLR’s successful expansion into Asia, coupled with this latest step establishing a Representative Office in Tokyo, reflects Kuvare’s ongoing commitment to bring unique solutions to insurers and policyholders worldwide. We are excited at the prospects of further strengthening our ties to Japan and other Asian markets,” said Dhiren Jhaveri, Founder and CEO of Kuvare.

In conjunction with this launch, KLR has appointed Daisuke Nagamori as Chief Representative, Asia-Pacific. Based in Tokyo, Nagamori-san will lead KLR’s regional engagement efforts, serving as a key conduit for cultivating relationships with Japanese companies, executives and other industry participants who will benefit from understanding the innovative solutions and long-term value that KLR is now offering in the region. Nagamori-san brings over 25 years of extensive experience in the insurance and financial services industries, coupled with a deep understanding of market dynamics across multiple jurisdictions. He has served in senior positions in Malaysia, Taiwan, Hong Kong and Japan, most recently serving as the Chief Commercial Officer at a large multi-national life insurer in Tokyo.

“Since entering the Japanese market, KLR has consistently prioritized building strong, in-person relationships with our partners, alongside delivering “cedant-first,” innovative reinsurance solutions. The appointment of Nagamori-san reinforces this commitment and enhances the support and responsiveness we provide to our partners,” said Nicholas Li, Chief Business Development Officer at KLR.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250930454086/en/

Media Contact:

media@kuvare.com

Source: Kuvare Holdings

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SAN ANTONIO–(BUSINESS WIRE)–
USAA has appointed Rob Arena as President of USAA Life Insurance Company, effective January 5, 2026. Arena brings more than 30 years of experience in life insurance, retirement solutions and asset management, along with a deep personal connection to USAA’s mission and values.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250930694216/en/

Rob Arena – USAA Life Insurance Company President

Most recently, Arena served as co-president at Global Atlantic Financial Group, where he led the organization through a decade of growth and transformation. His career also includes senior leadership roles at The Hartford and Prudential, where he oversaw retail product development, management and distribution.

“Rob brings extensive expertise and a values-driven approach that will strengthen USAA’s ability to serve members with comprehensive life and retirement solutions that build financial security,” said USAA CEO Juan C. Andrade. “His proven leadership in strengthening businesses, empowering teams and driving innovation to help families improve their financial security, reflects the heart of our Mission. With Rob’s leadership, USAA Life Company will grow, evolve and deliver protection, advice and exceptional value to our members at every stage of their lives.”

Arena has been a USAA member for more than 30 years, having joined after college when he purchased his first car. His father was a Captain in the U.S. Army during the 1960s, and instilled in him the values of service, integrity and accountability that continue to guide his leadership today.

“I am honored to lead the USAA Life Company because our opportunity to help more military families achieve financial security has never been greater,” said Arena. “As a longtime member myself, I understand the importance of trust and protection and believe USAA is uniquely positioned to deliver meaningful solutions to members.”

In this role, Arena will maintain the commitment and expertise of the Life Company while charting a new course for growth, innovation and an expanded product suite tailored to members’ unique experiences and goals.

About USAA

Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking and retirement solutions and serves 14 million members of the U.S. military, veterans who have honorably served and their families. Headquartered in San Antonio, USAA has offices in eight U.S. cities and three overseas locations and employs more than 38,000 people worldwide. Each year, the company contributes to national and local nonprofits in support of military families and communities where employees live and work. For more information about USAA, follow us on Facebook, Instagram or X (@USAA), or visit usaa.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250930694216/en/

USAA

external_communications@usaa.com

Source: USAA

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HOUSTON–(BUSINESS WIRE)–
Corebridge Financial today announced countrywide availability of its life insurance products through Allstate Financial Services, LLC, representing a strategic addition to the distribution partner network for the Corebridge Life Insurance business. Corebridge will bring its broad portfolio of competitive life insurance products to licensed Allstate sales professionals and customers across the United States.

“Corebridge is pleased to announce this significant distribution partnership with Allstate Financial Services, and I am confident our work together will encourage many Americans to take action that helps protect their loved ones and secure their financial futures,” said John Byrne, President of Financial Distributors at Corebridge Financial. “Allstate Financial Services is an incredible organization with an amazing brand, and our ability to secure a spot on their life insurance platform reflects the strength of the Corebridge product portfolio.”

“Allstate Financial Services is excited to launch countrywide with Corebridge Financial and bring the robust Corebridge life insurance product lineup to all of our customers,” said Scott Delaney, President and Chief Executive Officer, Allstate Financial Services. “We have already completed a very successful two-plus years with Corebridge in New York, demonstrating the power of our partnership and providing a road map for the benefits we will bring together to customers across the country as they work to achieve their financial goals and protect their families for the future.”

Corebridge will make both term and permanent life insurance available for licensed Allstate sales professionals.

• Term life insurance – Allstate sales professionals will have access to Select-a-Term, a flexible term life insurance product where the length of the policy can be set across 18 different durations to provide protection tailored to individual needs and budget.

• Permanent life insurance – Allstate sales professionals will have access to Corebridge index universal life (IUL) products – Max Accumulator+ and Value+ Protector – all of which can help supplement future financial goals while the policyholder is alive and provide protection for loved ones.

• Agile Underwriting+ (AU+) – Both term and permanent life insurance products feature Agile Underwriting+, the Corebridge streamlined underwriting process providing a means to faster policy approval decisions that may not require an exam, labs or attending physician statements.

  

Policies issued by American General Life Insurance Company, Houston, TX except in New York, where issued by The United States Life Insurance Company in the City of New York. Policy Form Numbers: ICC21-19311 Rev0321, 19311, ICC21-19310 Rev0321, 19310, 19311N-33 Rev0321, 19310N-33 Rev0321; ICC22-22191, 2219; 19646N Rev1023; ICC16-16760, 16760, 16760N Rev1023. AGL does not solicit, issue or deliver policies or contracts in the state of New York. Guarantees are backed by the claims-paying ability of the issuing insurance company and each company is responsible for the financial obligations of its products. Products may not be available in all states and features may vary by state. Please refer to the policy for more information. All these companies are wholly owned subsidiaries of Corebridge Financial, Inc. Corebridge Financial and Corebridge are marketing names used by these companies.

Corebridge Financial and Allstate Financial Services are separate, independent entities and are not responsible for the legal, financial, or business obligations of the other.

Life insurance offered and issued by third-party companies not affiliated with Allstate. Each company is solely responsible for the financial obligations accruing under the products it issues. Product guarantees are backed by the financial strength and claims-paying ability of the issuing company.

Securities offered by Personal Financial Representatives through Allstate Financial Services, LLC (LSA Securities in LA and PA). Registered Broker-Dealer. Member FINRA, SIPC. Main Office: 151 N 8th Street STE 450 Lincoln, NE 68508. (877) 232-2142. Check the background of this firm on FINRA’s BrokerCheck website.

About Corebridge Financial

Corebridge Financial, Inc. (NYSE: CRBG) makes it possible for more people to take action in their financial lives. With more than $415 billion in assets under management and administration as of June 30, 2025, Corebridge Financial is one of the largest providers of retirement solutions and insurance products in the United States. We proudly partner with financial professionals and institutions to help individuals plan, save for and achieve secure financial futures. For more information, visit corebridgefinancial.com and follow us on LinkedIn, YouTube and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250930990814/en/

Işıl Müderrisoğlu (Investors): investorrelations@corebridgefinancial.com
Matt Burkhard (Media): media.contact@corebridgefinancial.com

Source: Corebridge Financial

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ZIONSVILLE, Ind.–(BUSINESS WIRE)–
Group 1001 Insurance, a leading financial services company, today announced the appointment of Derek Towriss as President of Gainbridge Insurance Agency, LLC. Towriss has extensive experience in financial services, process improvement, and implementing forward-thinking strategies that align with the company’s growth plans.

“Derek’s proven track record of leadership and deep understanding of our annuity products and systems will guide Gainbridge to the next level of success,” said Linda Wang, president of the Group 1001 Life & Annuity business unit. “His career reflects a consistent ability to approach challenges with innovation and guide teams to achieve results.”

Towriss joined Delaware Life Insurance Company, a Group 1001 company, 10 years ago as an actuary, progressing through the valuation, hedging, and pricing disciplines while earning his FSA (Fellow of the Society of Actuaries) designation. He founded and built Group 1001’s administration system, which now powers all new business at Delaware Life and Gainbridge.

“I’m honored to serve in this role and lead Gainbridge,” said Towriss. “I look forward to working closely with our talented teams to build on our strong foundation, drive innovation, and create lasting value for our customers and stakeholders.”

Towriss has a Bachelor of Science in Business Administration-Economics from the University of Florida and is a Fellow of the Society of Actuaries (FSA) and a Certified Enterprise Risk Actuary (CERA).

About Group 1001

Group 1001 Insurance Holdings, LLC (“Group 1001 Insurance” or “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 June 30, 2025, Group 1001 had more than 1,500 employees and combined assets under management of approximately $72.9 billion and currently provides over 493,000 active annuity contracts and life insurance policies. It comprises the following brands: Delaware Life, Gainbridge^®, Clear Spring Life and Annuity Company, Clear Spring Property and Casualty Group, Clear Spring Health, and the RVI Group, among others.

About Gainbridge^®

Founded in 2018, Gainbridge Insurance Agency, LLC (“Gainbridge^®”) is an insurtech subsidiary of Group 1001 that empowers consumers to take control of their financial future with solutions that are accessible to everyone, no matter their budget or financial knowledge. Its platform provides access to financial products that are simple, intuitive, and backed by smart technology with no complexity or hidden fees. Gainbridge^® is headquartered in Zionsville, Indiana. For more information, visit www.gainbridge.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250930919498/en/

Group 1001 Insurance Media Contact
Amanda Vela

amanda.vela@group1001.com

Source: Group 1001

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The following information was released by the New York State Department of Financial Services (DFS):

Governor Hochul has appointed Kaitlin Asrow as Acting Superintendent

September 29, 2025

Governor Kathy Hochul today announced that after four years of service, Superintendent Harris has decided to leave the Department of Financial Services.

The Governor is appointing Kaitlin Asrow to Acting Superintendent of the Department of Financial Services effective October 18, 2025.

“I’d like to thank Superintendent Harris for her four years of service at DFS, working every day to make our financial system work for New Yorkers, while also rebuilding the Department into a regulator fit for the financial capital of the world,” said Governor Hochul. “Between her time at the Federal Reserve, Financial Health Network, and within DFS, Kaitlin is well suited to lead the Department into the future, expanding access to affordable financial services for all New Yorkers while ensuring our great state continues to be a center for responsible innovation.”

Superintendent Harris said, “It has been a privilege and an honor to serve New Yorkers, delivering positive outcomes for consumers; cementing DFS as a global regulatory leader; and transforming the Department’s operations. I want to express my deep gratitude to Governor Hochul, and to the DFS team for the excellent work they do every day to create a more equitable, transparent, and resilient financial system.”

Kaitlin Asrow said, “I am humbled by the opportunity to continue working in service of New Yorkers under Governor Hochul’s leadership. I am committed to ensuring that New York remains the global financial capital, a leader in consumer protection, and a hub for responsible financial innovation.”

Kaitlin Asrow has worked at DFS for the past four years as Executive Deputy Superintendent of the Research and Innovation division. In that role, she oversaw the regulation of virtual currency companies, building one of the largest and most sophisticated virtual currency regulatory teams in the world. She is also responsible for the Department’s policy work around innovation and financial inclusion. Ms. Asrow has helped lead the operational transformation of the Department and is committed to continuing investment in technological infrastructure and key processes.

Ms. Asrow came to the Department from the Federal Reserve System, where she served as a Senior Policy Advisor for both the Bank of San Francisco and the Board of Governors. She was responsible for leading supervision and policy initiatives related to data and artificial intelligence. During her tenure with the Federal Reserve, she served as a coordinator on innovation policy among the 12 district banks, as well as between the Federal Reserve, the OCC, and FDIC.

Prior to the Federal Reserve, Ms. Asrow worked for the Center for Financial Services Innovation, now the Financial Health Network, which is the leading authority on consumer financial health. Ms. Asrow graduated from Stanford University with a Bachelor of Arts degree and subsequently earned her Master of Public Policy degree from the University of Chicago.

Superintendent Harris was nominated by Governor Hochul to lead DFS in August 2021. As the longest-serving Superintendent, Harris led efforts to rebuild the Department to better protect New Yorkers, regulated entities, and the global financial system. Since August 2021, DFS has recovered more than $725 million in restitution for New Yorkers and done significant work to make the state’s financial system fairer and more equitable. Nationally, she became the first New York State representative to serve on the U.S. Financial Stability Oversight Council.

Under Superintendent Harris’s leadership, DFS created seven new Banking Development Districts; allowed state-chartered banks to offer Bank On accounts to satisfy their basic banking obligations while broadening access to low-cost accounts; and changed the way check cashing fees are calculated to incorporate consumer needs, saving New Yorkers more than $22 million in check cashing fees.

Superintendent Harris also set clear guardrails around the use of artificial intelligence in insurance underwriting and pricing; prohibited life insurers from offering inferior versions of the same product which was primarily impacting low-income households and consumers of color; and spearheaded critical health equity work requiring insurers to cover insulin without cost sharing and requiring them to collect voluntarily-disclosed demographic data from policyholders to address systemic health inequities.

Over the past four years, the Superintendent has transformed the Virtual Currency Unit into a global leader in the regulation and supervision of digital assets. The Superintendent hired more than 60 subject matter experts who prevented FTX, Voyager, and Celsius from operating in New York; issued 11 pieces of regulatory guidance; brought the first enforcement actions against cryptocurrency companies; and returned $2.1 billion to consumers around the world from Gemini.

Since DFS was given the authority to regulate pharmacy benefit managers (“PBMs”) in 2022, Superintendent Harris has built a PBM team, adopted market conduct rules to govern PBMs, and begun examining these entities. The rules put in place by DFS protect New Yorkers’ access to prescription drugs, prohibit certain business practices that increase the cost of prescription drugs, and help ensure that small, independent pharmacies can compete with large pharmacies affiliated with PBMs.

Superintendent Harris also has taken decisive actions on defining issues impacting the financial services sector, amending DFS’s nation-leading cybersecurity regulation; issuing guidance to the insurance, banking, and mortgage industries, setting expectations on managing the financial and operational risks of climate change; and rebuilding the Insurance Frauds Unit to combat financial fraud in New York State

The Superintendent’s commitment to operational excellence has resulted in more than 1,200 hires and promotions since January 2022. For the first time since the agency was established, the Department was fully-funded and has now surpassed 1,400 employees. Over the last four years, the Superintendent has cultivated a culture of innovation, invested in new technological infrastructure, and updated key processes. A significant component of the agency’s technology overhaul is DFS Connect, a single portal which is transforming all facets of how the Department engages with entities and consumers, and keeping data organized, centralized, and up to date in real time.

The post GOVERNOR HOCHUL ANNOUNCES SUPERINTENDENT ADRIENNE A. HARRIS TO DEPART THE DEPARTMENT OF FINANCIAL SERVICES AFTER FOUR YEARS OF SERVICE appeared first on Insurance News | InsuranceNewsNet.

NEW YORK–(BUSINESS WIRE)–
Winged Keel Group “Winged Keel” is pleased to announce the addition of Jacob Boston as Managing Director, Marketing and Communications. In this newly created role, Jacob will oversee the strategic direction and execution of Winged Keel Group’s marketing and communications platform. His remit includes advancing the firm’s messaging around M&A activity, corporate growth initiatives, and institutional partnerships, as well as deepening engagement with key Centers of Influence. He will also partner closely with the firm’s events team to enhance Winged Keel’s highly curated national event platform.

Jacob brings more than 25 years of communications and marketing leadership in the financial services industry. Most recently, he served as Senior Vice President, Head of Communications and Engagement, at NFP, an Aon company, where he led internal and external communications, including those related to the firm’s $13 billion acquisition by Aon in 2024. At NFP, he also oversaw strategic partnerships with two major sports leagues to strengthen brand awareness and client engagement.

Previously, Jacob was Vice President of Communications and Government Affairs at M Financial Group, where he led communications strategy, member firm content development, and event programming, while also managing relationships with congressional leaders and advocacy groups such as Finseca. Earlier in his career, he directed communications for acquired firms at NFP in New York, guiding messaging through periods of significant growth and evolution. Boston, who resides outside of Portland, OR graduated from Emory University with a degree in political science.

“Jacob brings proven expertise in shaping communications for complex, high growth organizations,” said Sean O’Reilly, COO of Winged Keel Group. “His experience at the intersection of financial services, corporate strategy, and brand storytelling will help us expand our reach, enhance transparency, and deliver a stronger platform for our clients, advisors, and institutional partners.”

“I’m proud to join Winged Keel Group and be part of the firm’s continued growth,” said Boston. “With exceptional people, a clear vision, and significant opportunities in every area of the business, the firm is well positioned to achieve its goals. I’m excited to collaborate with the team to drive meaningful results in how we tell our story and articulate our value to stakeholders.”

Winged Keel Group is excited to welcome Jacob to the team and looks forward to the expertise and value he will bring as the firm continues to expand. This appointment reflects Winged Keel’s continued investment in people and platforms to support its national growth strategy following its 2025 partnership with GTCR.

About Winged Keel Group

Winged Keel Group is an independent life insurance brokerage firm that creates and implements customized life insurance solutions for high and ultra-high net worth, family office, and institutional clients. With offices in New York, San Francisco, Boston, Richmond, Washington, D.C., Houston, Atlanta, Denver, St. Louis, and Minneapolis, the firm specializes in the structuring and administration of Traditional Life Insurance, Business Continuation Insurance, Private Placement Life Insurance and Annuities, and Corporate-Owned Life Insurance portfolios. For more information on Winged Keel Group, please visit www.wingedkeel.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250929787765/en/

Barbara Novak

Principal

Winged Keel Group

212.527.8000

Source: Winged Keel Group

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Added Customization Options Help Clients Venture Forward with Confidence

NEWPORT BEACH, Calif.–(BUSINESS WIRE)–
Pacific Life announced today that it has added a new flexible premium universal life (UL) insurance product to its lineup. Pacific Venture UL 2¹ provides a robust set of choices and replaces the Versa-Flex Venture UL² product. This versatile UL product is designed for business owners and affluent clients looking for competitively priced insurance protection and the ability to use the policy to meet a variety of financial needs—whether that’s income replacement, business protection, or legacy planning.

A Straightforward Yet Multifaceted Design

With the addition of no-lapse guarantees to age 90 included at no additional cost and enhanced living benefit riders to help cover the cost of chronic illness or long-term care, Pacific Venture UL 2 now gives clients even greater flexibility. Protection can be structured to address their main financial concerns in a way that may be less complex than a typical indexed or variable universal life policy.

“Pacific Venture UL 2 can be thought of as the Swiss Army knife of ULs—it’s versatile and can support a wide range of customer needs,” says Sim Zady, vice president of life product development, Consumer Markets, Pacific Life. “It empowers clients to tailor their coverage to meet specific personal or business financial needs. The product offers strong performance potential across age groups and risk classes, combining robust death benefit protection with attractive cash value growth potential through a competitive interest-crediting rate. It may also allow for tax-free³ distributions.”

Pacific Venture UL 2 offers a variety of client-friendly features:

• Cash value growth potential

  

• Three customizable coverage types to help meet a variety of needs
• Guaranteed protection via a choice of no-lapse guarantee riders to prevent policy lapse⁴
• Three ways to plan for chronic illness or long-term care expenses

“Clients don’t always have a straightforward objective when it comes to life insurance,” says Kevin Kennedy, senior vice president and chief sales and marketing officer, Consumer Markets, Pacific Life. “If they have more than one goal, such as retirement income and legacy planning, and want to make sure they can access any cash value for chronic illness or long-term care costs, Pacific Venture UL 2 offers that opportunity in one product.”

About Pacific Life

Pacific Life provides a variety of products and services designed to help individuals and businesses in the retail, institutional, workforce benefits, and reinsurance markets achieve financial security. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative life insurance and annuity solutions, as well as mutual funds, that provide value and financial security for current and future generations. Supporting our policyholders for nearly 160 years, Pacific Life is a Fortune 500 company headquartered in Newport Beach, California. For additional company information, including current financial strength ratings, visit PacificLife.com.

¹Pacific Life Insurance Company Pacific Venture UL 2 (Form series P25UL, S25VEN2, varies based on state of policy issue).

² Pacific Life Insurance Company Versa-Flex Venture UL (Form series P18UL, S18VEN, varies based on state of policy issue).

³For federal income tax purposes, tax-free income assumes, among other things: (1) withdrawals do not exceed tax basis (generally, premiums paid less prior withdrawals); (2) policy remains in force until death (any outstanding policy debt at time of lapse or surrender that exceeds the tax basis will be subject to tax); (3) withdrawals taken during the first 15 policy years do not cause or occur at the time of, or during the two years prior to, any reduction in benefits; and (4) the policy does not become a modified endowment contract. See IRC Secs. 72, 7702(f)(7)(B), 7702A. Any policy withdrawals, loans and loan interest will reduce policy values and may reduce benefits.

⁴Age 90 No-Lapse Guarantee Rider (Form series R22NLG, S22NLG, varies based on state of policy issue) is issued with all policies electing Death Benefit Option A or B with insureds issue ages 79 and under. Paying only the Age 90 No-Lapse Premiums will guarantee the death benefit to the insured’s attained age 90 but will not guarantee cash value accumulation. If your client discontinues paying the no-lapse guarantee premiums, the no-lapse feature will terminate before the guaranteed duration. If this occurs, additional premiums in an amount equal to the shortfall can be paid to bring the no-lapse feature back in force. If policy loans or withdrawals are taken, additional premiums may be required to keep the no-lapse feature in force. Additional premiums may be required to continue the policy beyond the guaranteed duration. Flexible Duration No-Lapse Guarantee Rider (Form series R25FNL, S25FNL, varies based on state of policy issue), depending on how your client structures their policy, has a maximum duration of the insured’s lifetime, subject to certain limits. If your client’s net no-lapse guarantee value is zero, the no-lapse feature terminates. If the no-lapse feature terminates, additional premiums would be required to resume the no-lapse guarantee. If policy performance is such that your client’s policy is being maintained solely by the no-lapse guarantee, your client’s policy will not build cash value.

Pacific Life Insurance Company is licensed to issue insurance products in all states except New York. Product/material availability and features may vary by state.

Pacific Life is a product provider. It is not a fiduciary and therefore does not give advice or make recommendations regarding insurance or investment products.

Insurance products and their guarantees, including optional benefits and any crediting rates, are backed by the financial strength and claims-paying ability of the issuing insurance company. Look to the strength of the insurance company with regard to such guarantees because these guarantees are not backed by the independent broker/dealers, insurance agencies, or their affiliates from which products are purchased. Neither these entities nor their representatives make any representation or assurance regarding the claims-paying ability of the issuing company.

Pacific Life, its affiliates, their distributors, and respective representatives do not provide tax, accounting, or legal advice. Any taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor or attorney.

Riders will likely incur additional charges and are subject to availability, restrictions, and limitations. When considering a rider, request a policy illustration from your life insurance producer to see the rider’s impact on your policy’s values.

Not all products or optional benefits are available in all states or firms, and features may vary by state and firm.

Pacific Life Insurance Company reserves the right to change or modify any non-guaranteed or current elements. The right to modify these elements is not limited to a specific time or reason.

Life insurance is subject to underwriting and approval of the application and will incur monthly policy charges.

The home office for Pacific Life Insurance Company is located in Omaha, Nebraska.

Investment and Insurance Products: Not a Deposit • Not Insured by any Federal Government Agency • Not FDIC Insured • No Bank Guarantee • May Lose Value

25-199 ULC4391-00

View source version on businesswire.com: https://www.businesswire.com/news/home/20250929660333/en/

Media Contact
Jesse Page

(949) 219-4575

Jesse.Page@PacificLife.com

Source: Pacific Life Insurance Company

The post Pacific Life Launches Feature-Rich Universal Life Product appeared first on Insurance News | InsuranceNewsNet.

Question : I got an email supposedly from the U.S. Department of Education to “alert me ” that my FSA ID is locked and telling me to click on a link to unlock it. I think this is a phishing scam because I didn’t apply for financial aid this year—my daughter already graduated from college. I deleted the email without clicking. Have others reported this ?

Answer : Yes, cybercriminals are at work, but likely not in the way you think ; more likely someone was trying to log into your idle Federal Student Aid account and failed to guess your password so the system locked them out after three attempts. The lockout would generate an email from “donotreply @studentaid.gov ” to the address on file for the account.

Although it’s never wise to click on a link in an unsolicited email, you do need to secure your FSA ID. Go to and try to log in. If your account is locked, “you’ll need to use your verified mobile phone number or verified email address, an authenticator app, or your challenge questions to unlock it, ” the website says. Follow the instructions to reset your password and take other recommended security steps.

You can’t delete your FSA ID, even though your daughter has finished college, and the website’s instructions to disable an account no longer seem to work—these are problems for law-abiding students and parents amid identity theft so rampant that officials said it imperils the federal student aid program for college students.

In June, Federal Student Aid, an office of the U.S. Department of Education, announced new rules to combat the fraud, in which criminals use stolen FSA IDs or other credentials to obtain grants and loans and then enroll chatbots in online classes. Artificial intelligence and remote learning fuel these schemes. Victims whose identities were stolen must deal with the aftermath, trying to prove they never sought or received a student loan, for example.

“Recent data from Federal Student Aid, States, and financial aid administrators at a wide range of institutions of higher education has made it clear that the rate of fraud through stolen identities has reached a level that imperils the federal student aid programs authorized under Title IV of the Higher Education Act. As such, the Department and its institutional partners must act to protect the integrity of federal student aid programs funded by taxpayers. This is especially acute for the Pell Grant program, which is already facing a budgetary shortfall and has been targeted by technologically advanced fraud rings, ” FSA said in its June announcement, which you can read at.

Q : Can that life insurance finder be used for people who aren’t dead ? We have a situation with dementia and missing records.

A : No, the National Association of Insurance Commissioners’ Life Insurance Policy Locator, a free online service, helps beneficiaries track down life insurance policies and annuity contracts held by people who have died, and only after the tool’s user has made a “diligent search ” for the deceased person’s records on their own. The service “is not to be used to try to locate potential benefits from life insurance policies and annuity contracts on living persons, ” according to its website, .

Although the online tool is not for people in your situation, with relatives who can’t recall where important records are kept, the NAIC and other insurance sites do offer tips that might help. They suggest that a person’s authorized representative could :—Contact the person’s employer or former employer (s ) to ask whether they are entitled to group life insurance benefits. Likewise, if the person is or was in a labor union, ask the union.—Review the person’s bank statements and canceled checks, if available, for payments to a life insurance company.—Ask other family members if they know of any insurance policies or annuity contracts, and if they know of any safety deposit boxes or other locations where records may be kept.—Check with the company or companies that insures or insured the person’s car or house, as they may also have sold the person life insurance. Likewise, if the person is or was a member of a group such as AARP or AAA, check for life insurance purchased through the group.—Search for unclaimed property via, which may include contents of safe deposit boxes, deposits held by utility companies, dormant savings and checking accounts, insurance and medical refunds, shares of stocks, uncashed travelers checks, money orders, dividend checks and payroll checks, according to Hawaii’s Department of Budget and Finance. The search page also includes instructions for filing a claim if property is found.————Write to Kokua Line at Honolulu Star-Advertiser, 500 Ala Moana Blvd., Suite 2-200, Honolulu, HI 96813 ; call 808-529-4773 ; or email kokualine @staradvertiser.com.————

© 2025 The Honolulu Star-Advertiser. Visit www.staradvertiser.com. Distributed by Tribune Content Agency, LLC.

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South Korean-based DB Insurance Co. Ltd. announced Sept. 26 it is buying Jacksonville-based specialty insurance company Fortegra Group Inc. for $1.65 billion.

The deal comes 11 years after Connecticut-based investment company Tiptree Inc. bought then-publicly traded Fortegra for $218 million.

Fortegra has grown significantly under Tiptree’s ownership. The company reported revenue of $179 million in the first six months of 2014 before that deal was announced. Its revenue grew to $994 million in the first six months of 2025.

Tiptree tried to take Fortegra public again twice, in 2021 and 2024, but called off the sale both times because it couldn’t get the price it wanted.

Investment firm Warburg Pincus LLC acquired a 24% stake in Fortegra in 2021 after the first attempt at an initial public offering was withdrawn.

Tiptree’s majority stake in Fortegra is the company’s largest investment.

DB Insurance said the acquisition of Fortegra is a strategic step in its goal of growing its presence outside of South Korea.

“This acquisition will mark the first-ever purchase of a U.S. insurer by a Korean non-life insurer and represents a turning point for DB Insurance in its journey to become a global insurer,” said Ki-Hyun Park, head of global business for DB, in a news release.

“By combining Fortegra’s expertise with DB Insurance’s global network and capital strength, we aim to enhance customer value and market competitiveness while simultaneously achieving our dual objectives of increasing shareholder value and contributing to the national economy,” he said.

“This agreement with DB Insurance marks a significant new chapter in Fortegra’s journey. We look forward to partnering with DB Insurance to advance the shared goal of building a leading insurance group,” Fortegra CEO Rick Kahlbaugh said in the release.

Kahlbaugh has been chief executive of Fortegra since 2007.

“As Fortegra embarks on its next chapter, we remain proud of what we’ve built together and confident in the company’s continued success,” Tiptree Executive Chairman Michael Barnes said in the release.

The companies expect to complete the sale in mid-2026.

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HONG KONG–(BUSINESS WIRE)–
AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” (Excellent) to Samsung Property & Casualty Insurance Company (China), Ltd. (Samsung P/C China). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings of Samsung P/C China reflect its balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

Samsung P/C China is a non-life insurance company established in 2005. The company was a wholly owned subsidiary of Samsung Fire & Marine Insurance Co., Ltd. (SFM) until 2022, during which time Shenzhen Tencent Domain Computer Network Company Limited (Tencent Domain), an affiliate of Tencent Holdings Limited (Tencent), and four minority shareholders made investments of RMB 1.95 billion into the company. Following the introduction of Tencent Domain, Samsung P/C China continues to receive explicit and implicit support from SFM, including stable business relationships with affiliated Samsung entities and Korean Interests Abroad (KIA) clients, strong brand recognition, reinsurance support and underwriting know-how. The company also benefits from the distribution capabilities and extensive market outreach of Tencent’s online platforms and overall management oversight.

Samsung P/C China is a small-sized player in China’s non-life industry. The company has built a stable commercial book and a growing personal line portfolio with the support of its two major shareholders. The company offers a wide range of insurance products including commercial property, liability, engineering, accident and health (A&H) and shipping return insurance. Samsung-affiliated businesses and KIA clients are primarily managed by Samsung P/C China’s direct channel, with client management, pricing, underwriting guidance supported by SFM. The company leverages on Tencent’s platforms to acquire shipping return business and distribute A&H products, while continuing to diversify its third-party business sources by partnering with brokers, agents and external platforms.

Samsung P/C China has consistently delivered positive earnings over the last few years. The company recorded significant top-line growth in terms of gross premiums written in 2024, primarily driven by shipping return insurance and health insurance distributed through WeSure, a Tencent-backed online insurance platform. Underwriting profitability was under some pressure due to higher loss ratios and increased operating expenses over the last two years. Investment returns have been consistently positive, supported by a steady stream of interest income sourced from deposits and fixed-income investments.

AM Best assesses Samsung P/C China’s risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), supplemented by its conservative investment strategy, sound liquidity and a comprehensive reinsurance programme. The company’s capital position was materially enhanced following the shareholding change, with its local solvency ratio considerably higher than the regulatory minimum requirement level. AM Best views SFM and the parent group of Tencent Domain as being equipped with superior credit fundamentals. These companies also are expected to continue to provide financial and non-financial support to Samsung P/C China over the intermediate term. AM Best also views Samsung P/C China’s overall risk management practices as appropriate for its risk profile.

Negative rating actions could occur if there is significant and adverse deviation in Samsung P/C China’s business execution compared with its business plan, leading to material deterioration in its operating performance. Negative rating actions could also occur if the company’s balance sheet strength materially deteriorates, due to a significantly reduced level of support from major shareholders, including financial flexibility and reinsurance. Negative rating actions could also arise if there is a reduced level of business and distribution support from major shareholders, which negatively impacts Samsung P/C China’s business profile assessment. While deemed unlikely over the intermediate term, positive rating actions may occur if the company demonstrates sustained and favourable operating performance with no material deterioration in its current balance sheet strength assessment.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

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 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.

Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250926823608/en/

Madison Fan

Financial Analyst

+852 2827 3416

madison.fan@ambest.com

James Chan

Director, Analytics

+852 2827 3418

james.chan@ambest.com

Christopher Sharkey

Associate Director, Public Relations

+1 908 882 2310

christopher.sharkey@ambest.com

Al Slavin

Senior Public Relations Specialist

+1 908 882 2318

al.slavin@ambest.com

Source: AM Best

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