Dried Crayfish Export from Nigeria:Made Easy

Dried Crayfish Export from Nigeria:Made Easy

Dried Crayfish is one of the foodstuffs currently being exported from Nigeria to countries in Europe, America and Asian More »

How to export Ginger from Nigeria and Make Huge Profit

How to export Ginger from Nigeria and Make Huge Profit

The demand for Ginger in the international market has gone up significantly because the root is now being used as raw material in manufacturing process. More »

Make Millions of Naira through Cashew Export from Nigeria.

Make Millions of Naira through Cashew Export from Nigeria.

The export of cashew nuts and other agricultural commodities from Nigeria is fast becoming very lucrative these days; More »

Bitter kola export business in Nigeria, Invest N80, 000 & make100percent profits

Bitter kola export business in Nigeria, Invest N80, 000 & make100percent profits

Bitter kola export business in Nigeria, Invest N80, 000 & make100percent profits More »

Start A Profitable Groundnut Oil Production Business in Nigeria

Start A Profitable Groundnut Oil Production Business in Nigeria

The high demand for groundnut oil nationwide and the short fall in supply due to the ban on the importation of the product by the federal government of Nigeria has thus make Groundnut oil production business very lucrative. More »

 

Four insurance brokers given subpoenas in major US investigation

The New York State Department of Financial Services (NYDFS) has issued subpoenas to four insurance brokers as part of an investigation into pension risk transfer deals.

The subpoenas were issued Wednesday to units of Morgan Stanley, Aon, Willis Towers Watson, and Mercer – a Marsh & McLennan company. The regulator is seeking documents about their communications with insurer Athene Holding, people close to the matter told Reuters.

Pension risk transfers allow insurers to take over a plan and transfer the risk, with the hope that they can make more in investments than they pay out in pensions. To take over a plan, an insurer usually has to write a group annuity contract to cover those pensions.

Sources explained that the NY regulator is investigating whether the subpoenaed brokers – who help facilitate pension risk transfers – solicited insurers not licensed in New York to take the transfers. The NYSDFS has the authority to levy fines on companies that it regulates, and can even revoke their licenses to operate in the state.

Athene Holding shared with Reuters that it has been contacted by the NYSDFS and is working with the regulator over the investigation.

“We confirm that the New York State Department of Financial Services (NYSDFS) has requested information regarding our PRT business,” the company said in an email statement. “Athene is fully cooperating with the NYSDFS.”

Insurancebusinessmag

7 / 100 SEO Score

Leave a Reply

Your email address will not be published. Required fields are marked *