Rehabilitation plan of Mutual Benefit receives agreement of regulators and guarantee funds

Article Abstract:

Parties to the Rehabilitation Plan of the Mutual Benefit Life Insurance Co have reached a compromise which will give some protection to the 700,000 former customers , mainly through agreements with State Guarantee Funds. The state guarantee associations taking part will provide a minimum compounded 5% guaranteed annual crediting rate to policyholders rather than the 3.5% stipulated originally. The original Plan provision allowing Mutual management to extend payouts to policyholders for five additional years was also deleted.

Management, Cases, Corporate reorganizations, Mutual Benefit Life Insurance Co.

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Confederation Life, a large Canadian insurer, fails

Article Abstract:

The failure of Confederated Life, Canada's fourth largest insurer, will likely result in restructured policies and low rates of return for the companies policy-holders. Confederated reported $14 billion in assets in 1993, making it the largest insurance company to ever fail in North America. Losses in real estate and mortgages led to a lowered rating for the company, which could not find a cash influx to boost its rating.

Life Insurance, Direct Life Insurance Carriers, Confederation Life Insurance Co.

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Life companies report surplus increase

Article Abstract:

The Townsend & Schupp Life Insurance Business Risk Analysis Quarterly Review for the first nine months of 1991 reports a 12.5% increase in total capital and surplus among 130 life insurance companies. Strong operating earnings, capital gains from lower interest rates for bond portfolios, and record capital infusions for stock companies contributed to the growth.

Security brokers and dealers, Reports, Townsend and Schupp Co.

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