![american general life insurance american general life insurance](https://www.everplans.com/sites/default/files/blog-images/7-life-insurance-axa.jpg)
This year, industry analysts expect those sales to exceed $2 billion, fueled by more baby boomers nearing retirement age, said American General spokesman John Pluhowski. In 1993, Western National’s annuity sales were $561 million. ``It really positions us for excellent growth in this very rapidly growing segment,″ American General chairman and chief executive Robert M.
![american general life insurance american general life insurance](https://4.bp.blogspot.com/-QMgX0HDpwK4/Wc6ROhSZL-I/AAAAAAAA4L8/GF4RZNJR9Gsn49PARow0n0XCjJIfSyNyQCK4BGAYYCw/s1600/American%2Bgeneral%2Blife%2Binsurance%2B800%2Bnumber%2Bfree-instant-credit%2B...-717224.jpg)
Western National, also based in Houston, will join the retirement services unit once the transaction is completed. Western National is the country’s biggest provider of fixed annuities through financial institutions.Īmerican General’s core businesses include a retirement-services unit which sells annuities to teachers, health-care workers and government employees. The deal is expected to expand American General’s business in annuities _ tax-deferred savings contracts that offer a regular payout based on the holder’s life expectancy. The Western National deal is American General’s third life insurance acquisition this year and sixth major acquisition since December 1994.
![american general life insurance american general life insurance](https://www.nlrbfcu.org/wp-content/uploads/2016/07/girl1.jpg)
Gobbling up other companies has made Houston-based American General the nation’s third biggest seller of insurance, with more than 10 million policyholders.
![american general life insurance american general life insurance](https://img.yumpu.com/43816193/1/500x640/income-annuity-claimants-statement-american-general-life-.jpg)
Western National shares rose 31 1/4 cents to close at $28.43 3/4 on the New York Stock Exchange. The company was founded in 1850 and offers life insurance products in 48 states (and Washington, DC). in a $1.2 billion deal.Īmerican General, which already owns 45 percent of Western National, said it would buy the remaining 55 percent for $29.75 a share. American General Life Insurance Review American General life insurance is a life insurance carrier based in Houston, TX. announced Friday that it plans to add another insurance company to its fold by acquiring Western National Corp. This matter was handled by Assistant Attorney General Jasmine Jean-Louis of the Attorney General’s Insurance and Financial Services Division.HOUSTON (AP) _ Life insurer American General Corp. Individuals who are eligible for a restitution payment will be contacted by AGLI. “Beneficiaries need to be treated fairly and receive all the amounts to which they are entitled under the law.”Ĭonsumers with questions about this settlement should contact Attorney General Healey’s Insurance & Financial Services Division at 1-88. Box 2708 Amarillo, TX 79105-2708 Overnight Mailing Address: Annuity Service Center 1050 N. “Life insurance issues are incredibly personal and important to consumers who need financial stability after the death of a friend or family member,” said AG Healey. American General Life Insurance Company Mailing Address: Annuity Service Center P.O. The AG’s Office alleged that AGLI violated the state’s consumer protection law when it failed to calculate the payment of interest pursuant to Massachusetts law for policies on which it had paid a death benefit since January 1, 2015. Under an assurance of discontinuance filed in Suffolk Superior Court, AGLI will pay over $180,000 to consumers and an additional $183,000 to the state. American General To Pay $360K For Miscalculating Interest On Death BenefitsīOSTON - American General Life Insurance Company (AGLI) will pay over $360,000 to resolve allegations that it failed to calculate correctly interest payments for death claims, Attorney General Maura Healey announced today.