MassMutual Strikes $1.7B Deal to Sell Asian Unit to Jack Ma-backed Firm
MassMutual International is planning to sell its Asia unit to a business group backed by Alibaba founder Jack Ma for roughly $1.7 billion, according to Reuters. But the Springfield, Mass.-based insurer will remain committed to the Asian market through the entity formed following the transaction, signaling that the deal simply represents a new way of approaching this crucial growth market.
Life/Annuity Companies Take Different Paths to Fastest Growth Rates
Sammons, American Equity, Global Atlantic and Great American Life experienced the largest percentage growth in admitted assets among large life and annuity companies. The sales strategies these companies took to achieve double-digit asset growth were quite different.
Nationwide Invests $100M in Tech, Hires Innovation Chief
Nationwide Financial continues steering money toward digital tool initiatives the company hopes will help it meet consumers’ changing preferences, according to a Nationwide press release. The company is also hiring a chief innovation officer to oversee its investment in innovation and startups, according to the press release.
Lincoln Taps Vet for Strategic Sales Positioning Role
Lincoln Financial Distributors, the wholesale distribution business of Lincoln Financial Group, has created a new role focused on providing competitive insights and sales positioning for Lincoln’s life insurance products.