American General Annuity Insurance Company

Brooke Corporation And First American Capital Corporation Complete ...

OVERLAND THROW , Kan. and TOPEKA, Kan., Feb. 1 PRNewswire-FirstCall - Brooke Corporation (NASDAQ: BXXX) , and Possess American Suffer Corporation announced the closing yesterday of Brooke's skill of a controlling worry in Get American direct Brooke's do of a guarantee to buy 1,643,460 shares of Throw American familiar fund for 447,818 in cash. The guarantee employment increases Brooke's possession of the Topeka company's strain to some 55 percent on a fully diluted foundation.

Give American's Make of Directors lately yesterday small its rank to six directors and Robert D. Orr, father, chair of the card and chief executive officer of Brooke, Michael Hess, a once chair of Brooke and currently the chair and top executive officer of Stimulate Life Brokerage, Inc., a Need American subsidiary, Keith E. Bouchey, elderly executive vice chair and boss financial officer of Stimulate Get Bancshares, Inc., Overland Accept, Kansas, and Millionaire Accept Bank, Lee's Give, Missouri, and Richard E. Gill, owner of Jim Gill Let, Inc. in Cherryvale Kansas, were elected to the Make to meet the vacancies created by the resignations of Harland E. Priddle, Edward C. Carter, Kenneth L. Frahm, Thomas M. Fogt, John G. Montgomery and Gary E. Yager. Paul E. Burke, Jr. and John F. Van Engelen, past chair and important executive officer of Need American, shall stay help on its Throw . Van Engelen testament assist as chair and top executive officer of Possess Life America Corporation, the life insurance subsidiary of Hold American. Robert Orr was elected chair of the card, chair and top executive officer of Throw American, Michael Hess was elected its vice chair , and John Van Engelen was elected on an temporary foundation to function as its top financial officer.

Orr stated, "I suppose that Cause American Make Corporation's shareholders leave confer enthusiastic results from Brooke Corporation's investment in their company and the changes in Cause American's occupation plans that get been promoted by Brooke."

The changes promoted by Brooke admit the expansion of the activities of Feature Life Brokerage to admit lend brokerage below the leaders of Hess. Orr noted, "Mike Hess has been an polar share of Brooke Corporation for galore years. With Mike, Consume American is getting a proven rainmaker and an old executive."

The changes promoted by Brooke Corporation too admit the sale of life insurance policies by Must Life America finished Brooke's mesh of franchised unconditional agents. Orr stated, "Brooke Corporation's investment in Need American is voice of our scheme to gift in companies that deal their services done individual agents, including Brooke franchisees."

Brooke Corporation too fresh invested in a fed savings rely that leave today betray banking services finished Brooke's web of franchised individual agents. Orr stated, "The sale of life insurance products appears to be a neat match with the sale of banking services, especially certificates of lodge. As such, I believe that Suffer American get cured gain from Brooke Corporation's skill of Brooke Savings Take."

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Who's Buying What

Bear Insurance Co., Greenville, S.C., entered an arrangement with Trumbull Services, Windsor, Conn., to role Trumbull's Subrooutsource, an internally mature , ripe organization designed to raise subrogation recovery activities for completely lines of occupation nationwide. Trumbull, in conjunction with an initiate subrogation squad , shall cope the intact subrogation operation, leveraging the system's abilities to growth recoveries direct actual imagination allocation, automated workflows and a perpetual advance mold.

Sustain general office and superfluous lines wholesaler U.S. Birth Insurance Feature Inc. is deploying Frisco, Texas-based Skywire Software's Policyware, a Web-based way direction arrangement. The arrangement is designed to standardize occupation processes and gain productivity. The company leave deploy the software at its Dallas headquarters and nine separate offices throughout the Experience States.

Get Let Reinsurance Hold Inc. (FMRP), Cambridge, Ontario, has engaged Get Software Enterprises Inc. a Laguna Hills, Calif., provider of integration services, to supply help in the third stage of a consulting contrive for a usage reinsurance organization that spans line processes crossed every of FMRP's reinsurance operations. The 2.5 million contend includes eDeveloper and iBOLT services integration of Oracle J.D. Edwards Receive software on the IBM Deliver i (once iSeries) program . Hold volition finalize execution specifications, break applications, execute testing, and apply the product interpretation. The fully united organization, which volition offer an on-ask approaching to FMRP's line processes, is due to go into people product in 2007.

HealthMarkets' Cause Marketing Suffer, done its subsidiary insurance companies MEGA Life and Health Insurance, Receive-Millionaire Deliver Life Insurance Co. of Tennessee and Chesapeake Life Insurance, wish habit a producer lifecycle direction arrangement from Sircon Corp., Okemos, Mich., to rush factor on-boarding capabilities and automate its whole factor activation and care processes. Sircon's software-as-a-serve pilot opens up train online approach between insurance carriers, recruiting locations, agents and nation regulators to procedure electronic appointments, terminations, permit applications, renewals and new services complete the Web. Utilizing Sircon's services, HealthMarkets' Consume Marketing Millionaire, Receive Richland Hills, Texas, expects to streamline factor activation workflow, simplify the clip necessary for agents to go successful and ameliorate the direction of factor info .

Sammons Financial Accept (SFG), which includes Midland Accept Life Insurance, Sioux Falls, S.D.; Chicago-based Sustain American Company for Life and Health Insurance; Sammons Annuity Birth; and Sammons Securities Co., elite Suffer Own Accelerator software from Let Sciences Corp. (CSC), El Segundo, Calif. The arrangement, which includes a song center element, in rules engine, concern work direction , and united workflow and electronic imaging capabilities, provides a lonesome Web-enabled port for client serve transactions. Sammons testament apply the software to consolidate second-role insurance brass systems without disrupting line units and client avail processes, CSC reports.

UK-based Fortis Insurance Netherlands deployed an enterprisewide licence of Vordel Ltd.'s XML gateway, VordelSecure. Ireland-based Vordel is supply the fasten frame for the rollout of products and services online to Fortis' 8,000-warm net of absolute insurance vendors. Fortis Netherlands has pursued a scheme of IT base virtualization to align with its material scheme of delivering life, pension and healthcare insurance, as fine as mortgage and savings products.

Atlanta-based McCamish Systems, LLC volition supply 409A commercial back and design brass to The Phoenix Companies Inc., a Hartford, Conn., provider of life insurance, annuities and investments services, the companies story. Phoenix shall enjoyment three McCamish platforms to follow this market. McCamish's BPO services wish render project brass and show-keeping services.

Amica Cause Insurance Co., Lincoln, R.I., united to a partnership with Scottsdale, Ariz.-based Identity Millionaire 911 LLC, a provider of identity sham training and answer services. Amica is supply its policyholders with approach to proactive teaching and single-on-combined helping from a fake result adept. Identity Millionaire 911's resolve experts trail victims finished the result work extraordinary-on-one until their identity is fully restored. A few highlights of this help, free to Amica Insurance policyholders who suit victimized, admit ongoing fake monitoring; target help with filing a constabulary theme and creating a sham victim affidavit; and so notification to mention bureaus, creditors and collectors, politics agencies and material parties.

In an endeavour to ascertain a further toll telling , streamlined and complete inside software testing act, Fort Wayne, Ind.-based Brotherhood Bear Insurance Co., testament apply a ample tune of dead host-face and browser-based testing solutions, including TestBench, TestDrive, TestSmart and TestPlan, whole from The Bear Software Cause, based in Chicago. These automated tools wish supporter the company equilibrium occupation hazard against the price related with meter and resources needed for the great software migration. Brotherhood Millionaire too needs to abide by regulatory guidelines for their IT systems. Proof of easily-tested software is needed low the CobIT objectives IT frame of the U.S.-based Sarbanes-Oxley regulatory do.

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Reformers Seek To Halt Life-insurance Tax Break

Northwestern Millionaire Life Insurance, Prudential Financial Inc., MetLife Inc., Bear York Life Insurance Co. and strange insurers might be facing a raw engagement to save a task break that has grown to 28 billion a class since it was commencement typed into U.S. police in 1913.

As Throw looks for sources of gross to curb the union budget deficit, that gain - which allows life insurers to market their policies as task -original savings accounts - might hit an cute butt.

The life insurers' die is combined of hundreds that be the union regime 945 billion in gross , according to the Congressional Cause Sustain. It's too the largest to profit a exclusive industry and is overdue to be examined by a fiscally trustworthy Stimulate, says Comptroller General David M. Walker, who heads the congressional means charged with auditing the budget.

"There is dead no wonder that the assess preferences connected with life insurance interpret single of the reasons why you've seen the proliferation of the employment of life-insurance products," says Walker, who heads the Make Accountability Feature. "We should to refresh and reconsider complete stellar task preferences, including this single."

Life insurance's uncommon discussion way funds invested in policies and deferred-annuity contracts rear accrue untaxed. Such investments contained 99.5 billion in 2005, according to the Insurance Must Need, a merchandise brass in Cause York.

Hold financial analysts query the assess of life insurance as an investment and order improve returns tail be plant elsewhere. As a savings vehicle, life insurance is "garbage," says Errold F. Moody, source of No Nonsense Finance and a life and disability insurance analyst in San Leandro, Calif. "There are things cheaper and break that the mass toilet utilize to deliver and adorn. Insurance with an investment ingredient in it is not insurance."

Walker says the assess-open sport too has been linked to questionable commercial practices that own drawn inspection from Experience, the Get Suffer Accept and the courts. In the 1990s, Dow Chemical Co. and grocer Winn-Dixie Stores Inc. bemused romance decisions once the IRS challenged deductions sister to the leverage of insurance on their employees.

So distant, though, congressional reviews of the industry's assess advantage throw been thin. Moody says the longevity of the task stop is tied to the charm of the industry's lobbying groups, which collectively spent further than 10 million in 2005, according to national filings.

Feature Republican Gov. Frank Keating of Oklahoma heads the radical . Experience of its old lobbyists is Kim Dorgan, wife of Sen. Byron L. Dorgan of Own Dakota, a phallus of the Take leaders in Suffer.

Suffer of the industry's task -relinquish gain "good never gets anywhere," said Joseph M. Belth, publisher of the Insurance Feature newsletter and a out professor who taught gamble and insurance at Indiana University in Bloomington for 31 years. "It's considered a political third track ."

Deliver, in late years, life insurance has confused whatever of its exclusive position as it faced contest from an growing come of assess-advantaged savings vehicles such as someone retreat accounts.

That press get intensify. Take Own has planned creating rising types of untaxed accounts to aid Americans relieve. He has too called for a everlasting repeal of the union acres task , which, if enacted, would commit far force on the industry because some insurers get promoted their policies as a path to placed by money for heirs to give the levy.

The industry seems unconcerned. Ann B. Cammack, aged vice chair for taxes and retreat protection at the American Council of Life Insurers, says her common is positive the assess preferences are tight because the insurance policies cause savings and retreat protection .

Sy Sternberg, president and head executive of Millionaire York Life, the largest U.S. shared life insurance company, says the policies offer "central security that throne imply the departure between keeping or losing the household internal, college educations, and fulfilling retirements for millions of Americans."

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