Update: Robert Rikard, attorney for the Busches, and a spokesman for PacLife both released the following statement: “The Busch family and Pacific Life are pleased to have reached an amicable resolution of their dispute. Both sides worked constructively to achieve a confidential result that is mutually acceptable and avoids further legal proceedings.”
NASCAR driver Kyle Busch and his wife, Samantha Busch, have reached a confidential settlement with Pacific Life Insurance Co. and two other defendants in a civil lawsuit over indexed universal life sales, according to a court filing.
The Busches, PacLife and defendants Rodney Smith and Red River LLC notified the court Thursday that they have resolved the dispute and are in the process of finalizing settlement documents.
The parties said they expect to file a stipulation or motion to dismiss the case within 30 days. Under the agreement, each side will bear its own attorneys’ fees and costs.
The parties asked the court to stay all pending deadlines while they complete the settlement paperwork and formally move to dismiss the action.
The Busches’ lawsuit began in state court in October and was quickly moved to federal court in the Western District of North Carolina.
According to the complaint, the defendants used misleading illustrations, undisclosed costs, and false promises of guaranteed multipliers and controllable charges to induce Kyle and Samantha to pay more than $10.4 million in premiums, resulting in net out-of-pocket losses exceeding $8.58 million.
The complaint accuses PacLife and its appointed agent, Rodney Smith, of designing and promoting a series of complex IUL policies as “tax-free retirement plans” that were misrepresented as safe, self-funding investment vehicles.
Big retirement plan
Kyle Busch was assured that by contributing a million dollars annually for five years, he could withdraw $800,000 per year starting at age 52, he said in a news release. Instead, Busch discovered that his funds were being directed to the insurance company’s account rather than being invested in the market, preventing his investment from growing as the market rose.
PacLife filed a motion to dismiss in late January, noting that the Busches signed policy illustrations indicating they intended to pay planned premiums and hold the policies over 30 years, the insurer said. Instead, the couple bailed out on the plan and surrendered the policies before their growth potential could be realized, a memorandum accompanying the motion reads.
“Rather than accept responsibility for their own decisions, Plaintiffs now attempt to blame their negative outcome on the IUL product – a product approved by insurance regulators in every state – and purported oral promises that are directly contradicted by express written disclosures they acknowledged and signed,” the memo states.
Starting a family brings joy, responsibility – and the need to plan for the unexpected. Life insurance may not be the first thing on your to-do list, but it plays a crucial role in protecting your family’s future. If something were to happen to you or your spouse/partner, a life insurance policy can help cover the mortgage, childcare, education costs and daily living expenses – giving your loved ones financial security during a difficult time.
So, how much coverage do you need?
A very general rule of thumb is to buy a policy worth 10 times an individual’s annual income. For example, if your annual salary is $75,000, it makes sense to consider a policy with a $750,000 death benefit. But also factor in other things, such as your total debt, number of dependents and long-term goals (like college tuition or buying a bigger home).
Online calculators can help, or you can consult with a financial advisor to get a more tailored recommendation.
In general, there are three basic types of life insurance to consider:
– Term life insurance. This type of insurance is the most affordable and straightforward option. It provides coverage for a specific period – typically 10, 20 or 30 years. If you pass away during the term, your beneficiaries receive the death benefit. It’s a great choice for young families who want maximum coverage at a low cost.
– Whole life insurance. Whole life is permanent insurance that lasts your entire life, as long as premiums are paid. It also builds cash value over time, which you can borrow against. It’s more expensive than term life insurance, but offers lifetime protection and a savings component.
– Universal life insurance. This type of insurance is a flexible, permanent policy that combines a death benefit with a cash value account. As a result, you can adjust your premiums and death benefit as your needs change, but the policy also depends on investment performance, which can affect the value over time.
As your family grows, so does your need to plan for the unexpected. Life insurance isn’t just for you – it’s for the people who depend on you.
Informational Sources: Investopedia: “How Much Life Insurance Should You Have?” (September 23, 2024); State Farm: “Life Insurance Basics” (January 23, 2025).
LPL Financial and its advisors are only offering educational services and cannot offer participants investment advice specific to their particular needs. If you are seeking investment advice specific to your needs, such advisory services must be obtained on your own separate from this educational material.
Nothing in this publication shall be construed as providing investment counseling or directing employees to participate in any investment program in any way. Please consult your financial advisor or other appropriate professional for further assistance with regard to your individual situation.
Jason Benson, LPL Financial Advisor, may be reached at 918-256-4213 or Jason.Benson@LPL.com.
Securities and Advisory services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC. Thoroughbred Financial Solutions and LPL are separate entities.
SINGAPORE–(BUSINESS WIRE)– AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” (Good) of ICICI Lombard General Insurance Company Limited (ICICI Lombard) (India). Concurrently, AM Best has affirmed the India National Scale Rating (NSR) of aaa.IN (Exceptional) of ICICI Lombard with a stable outlook.
The Credit Ratings (ratings) reflect ICICI Lombard’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. In addition, the ratings factor in the neutral impact from ICICI Bank Limited (ICICI Bank), one of the largest private sector banks in India.
The revision of the FSR and Long-Term ICR outlooks to positive from stable reflects AM Best’s expectation that ICICI Lombard’s balance sheet strength fundamentals will continue to strengthen over the near to medium term, underpinned by continued robust capital generation and good capital management. The company’s balance sheet strength is underpinned by its risk-adjusted capitalisation, which is expected to remain at the strongest level over the medium term, as measured by Best’s Capital Adequacy Ratio (BCAR). ICICI Lombard’s investment portfolio is of moderate risk, given its exposure to higher-risk investments, such as equities and fixed-income securities, which are not rated on an international rating scale. An offsetting balance sheet factor includes the company’s significant exposure to contingent liabilities relating to ongoing disputes with the tax authorities in India; although, these disputes have not resulted in material financial impact to date.
AM Best views ICICI Lombard’s operating performance as strong, with a five-year average return-on-equity ratio of 17.3% (fiscal-years 2021-2025). The company reported higher net income in fiscal-year 2025 compared to the prior year, driven by better investment returns and an improvement in underwriting results. In addition, earnings remained resilient in the first nine months of fiscal-year 2026. Despite its lack of underwriting profitability, ICICI Lombard has consistently outperformed India’s general insurance market. The company’s investment income, including capital gains on equity investments, remains a key contributor of overall earnings to offset underwriting losses.
ICICI Lombard is the second-largest non-life insurer in India, with an overall market share of 8.7% based on gross domestic premium income in fiscal-year 2025. The company holds market-leading positions in major business lines, including property/casualty, marine cargo, liability and motor, as well as ranks second in the fire and engineering business lines. ICICI Lombard’s underwriting portfolio is well diversified by lines of business and distribution channels with premiums generated predominantly in India.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
NASHVILLE — The Tennessee Department of Commerce & Insurance and the Tennessee Attorney General’s Office are warning consumers that LifeX Research Corporation is not licensed to sell insurance products in Tennessee.
TDCI’s Consumer Insurance Services has received reports that consumers were told they could obtain health coverage through LifeX by becoming LifeX employees. However, LifeX is not licensed to sell major medical health insurance in Tennessee. Consumers have also been told the coverage would be issued by a well-known insurer, which is inaccurate. No licensed health insurers offering major medical coverage in the State of Tennessee provide coverage to Tennessee consumers through LifeX.
“Purchasing a health plan from a company that is not licensed to sell insurance in Tennessee could have disastrous financial consequences for unsuspecting consumers,” said TDCI Commissioner Carter Lawrence. “Instead of providing coverage to help offset your healthcare costs, providers may not recognize your unlicensed plan, leaving you responsible for the full cost of care.”
In other states, LifeX plans have also been associated with Benefit Health Plan, Inc. (BHPI) and Benefit Logistics Captive Insurance Company. These entities are not licensed to conduct insurance business in Tennessee.
“Protecting Tennessee consumers from deceptive practices is a top priority,” said Tennessee Attorney General Jonathan Skrmetti. “Our office will aggressively pursue scammers, and we encourage anyone who suspects fraud to file a complaint with our Division of Consumer Affairs.”
Consumers searching for health insurance online should never provide personal or financial information to unknown callers without confirming they are licensed insurance producers representing companies authorized by TDCI.
Red flags include:
The caller will not identify the insurance company.
The caller claims to be an agent but refuses to provide a license number.
You cannot review plan details before purchase.
You are pressured to act immediately to secure a low rate.
You must join an association or pay an application fee to enroll.
Life insurance application activity grew 9.5% in January, the highest year-over-year growth rate for any January on record, according to the MIB Life Index.
Compared to previous Januarys, activity was up 11.1% over 2024 and up 15.9% compared to 2023. On a month-over-month basis, January 2026 was up 11.7% compared to December 2025, the fourth year in a row of double-digit monthly growth in January.
In addition, applications for those ages 40 and older saw double-digit YOY growth, while ages 30-39 saw flat activity, and ages 0-29 declined 7.5%. This increase in applications included double-digit YOY growth across all product types. Year-over-year term life was up 26.4%, whole life increased 15.6%, and universal life was up at 34.7%.
Looking at YOY activity for January 2026 by face amounts, MIB saw double-digit growth for face amounts from $100,000 up to but not including $2.5 million, triple-digit growth for amounts from $2.5 million up to but not including $5 million, and flat activity for amounts from $1 up to but not including $100,000, and from $5 million and over.
Life insurance application activity finished 2025 with record-breaking growth of 6.8% compared with 2024, representing the highest annual growth rate on record, MIB has reported.
Michelle Robbins, a licensed insurance agent with USInsuranceAgents.com, said that while not every application results in a sale, when more people apply, more people buy. Following COVID-19, people became more interested in insurance products across many types, including life insurance, she said.
“Right now, people are doing okay financially, but they’re also feeling nervous. That puts them in a position to consider life insurance more,” she said. “There’s a lot of education available about life insurance and its benefits, especially for individuals with dependents who rely on their income. A combination of these factors has spurred increased interest and increased sales.”
Big growth across age groups
Looking at the ages of applicants in January, ages 0-29 saw double-digit growth for face amounts from $1 million up to but not including $2.5 million and amounts $5 million and over, triple-digit growth for amounts from $2.5 million up to but not including $5 million, flat activity for amounts from $250,000 up to but not including $500,000 and declines for all other face amounts, in the double digits for amounts over $1 up to but not including $100,000.
Term life saw YOY growth for all age bands, in the double digits for ages 30-69 and in the triple digits for ages 70+. Whole life saw YOY growth for those ages 30 and older, in the double digits for ages 40-49 and those 60 and older, and flat activity for ages 0-29. Universal life saw YOY growth for all age bands, in the double digits for ages 40-69, and in the triple digits for ages 70+.
Financial professionals see continued growth
Ian Skjervem, CEO of Smart Investors Daily, has seen the same pattern MIB highlighted, especially among people in their 40s and 50s who are carrying a mortgage and supporting kids or aging parents.
“Life insurance became a ‘this month’ task instead of a ‘someday’ topic for many of them,” Skjervem said. The question he hears now most often is a simple one: “How long does my family float on if my paycheck goes away next month?”
That attitude coincides with the increased term life activity and increased face amounts, he said. Skjervem does not believe this is a one-month spike.
“In my opinion, the durable trend is with mid-career households who finally begin to realize that employer coverage and savings is not enough to protect their dependents for long enough,” he said. “As long as the memories of inflation, health concerns and layoff headlines remain fresh, I expect a strong interest in simple term coverage, particularly for people aligning policies with the remaining mortgage years and children’s time at home.”
Rami Sneineh, an owner and a licensed insurance producer at the Insurance Navy Brokers, agreed. The MIB numbers mirror what Sneineh and his team saw in January. He said they received approximately 30% more calls than in the previous January.
“Consider the scenario that you wake up and realize that all the future of your family was based on a GoFundMe page that was not getting any traffic,” he said. He has seen a big surge of new customers inquiring about life insurance as they are now starting to appreciate that the risk is real.
When people are feeling insecure, they purchase protection, Sneineh said. Buying life insurance is now as simple as ordering pizza online, he noted, as opposed to waiting weeks for a quote due to the need to visit a doctor for a physical examination. Today, his company offers technologies that allow people to register during a lunch break on their phones.
HONG KONG–(BUSINESS WIRE)– AM Best has maintained its stable outlook on Japan’s life insurance segment, noting among other factors annualised premiums in force that are expected to remain broadly steady along with greater demand for savings-type products.
Also underpinning the stable outlook, as detailed in the Best’s Market Segment Report, “Market Segment Outlook: Japan Life Insurance”, is life insurers’ investment income, which is increasingly becoming a crucial component of core profits, although partially offset by rising operating expenses amid structural inflationary pressures. In response to persistent above-target inflation, the Bank of Japan has continued to normalise its monetary policy, raising the benchmark interest rate to 0.75% in December 2025.
“Despite economic uncertainties, including the pace and magnitude of further benchmark rate hikes and persisting depreciation pressure on the Japanese yen, the fundamentals of Japan’s life insurance segment remain sound, supported by steady premium growth and an improving investment environment with higher domestic interest rates,” said Charles Chiang, senior financial analyst, AM Best.
According to the report, the life industry’s annualised premiums in force have remained broadly steady due to consistently low economic growth and an ageing and shrinking population. The industry’s overall premium income declined slightly in fiscal year 2024, interrupting the upward trend observed in the previous four years, primarily due to weaker sales of single-premium savings-type products, particularly foreign currency-denominated products.
“Over the next 12 months, AM Best expects the current macroeconomic environment to support demand for asset-accumulation products, offering some degree of inflation protection,” said Chanyoung Lee, director, analytics, AM Best. “The life industry’s product mix is likely to shift further toward Japanese yen-denominated products as domestic interest rates remain elevated while foreign interest rates ease.”
Other factors supporting the stable outlook include:
Major Japan-based insurers have accelerated overseas expansion and diversified into adjacent domestic non-insurance market segments, reducing structural dependence on a contracting domestic insurance market and supporting medium-term earnings resilience.
The mandatory transition to the economic value-based solvency regime for all insurers by fiscal year ending 31 March 2026 is proceeding in an orderly manner, with the market capitalisation well above regulatory thresholds, underpinned by active asset-liability management and the strategic use of asset-intensive reinsurance.
Insurers’ investments in agency digitalisation and new third-sector products are expected to support protection-type sales over the medium term.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
12 enterprise partners, including Axxess and Mountain Life Insurance, will use Advance AI to protect more than 8 million covered lives from online fraud, dormant subscription waste, and unwanted account activity.
As Americans now manage 100+ digital accounts and subscriptions, families inherit digital estates that can take 40-50 hours to unwind, with demand rising as the population ages
LOS ANGELES–(BUSINESS WIRE)–
Eazewell, the AI platform that manages digital identity and administrative work across major life events, today launched Eazewell Advance, an enterprise platform that serves as an AI custodian for a user’s full digital footprint. The platform tracks, manages, and executes actions across subscriptions, financial accounts, and online services throughout a user’s life, helping people stay organized while healthy and autonomously handling administrative burdens during critical transitions, including incapacity, hospice care, and estate settlement. Founded by Donnell Beverly Jr. and Russell Westbrook, the company has signed 12 enterprise partners, including Axxess and Mountain Life Insurance, who will offer the platform free to more than 8 million covered lives starting today. The company has also finalized agreements with major HR benefits providers to bring Eazewell Advance into employee benefit programs nationwide.
Digital life is now scattered across bank portals, rewards programs, autopay utilities, subscription stacks, and cloud storage. In the late 2000s, the average person managed about 25 accounts.¹ Today it’s closer to 170². That explosion in digital complexity creates mounting challenges across major life transitions. People lose track of their own accounts while healthy, leaving subscriptions active they no longer use and exposing themselves to identity fraud. When someone enters hospice, becomes incapacitated, or passes away, families inherit a digital estate that can take months to unwind. With more than 1.7 million Americans enrolling in hospice care annually³ and 10,000 crossing age 65 every day⁴, the administrative burden is growing. Accounts keep renewing. Points and benefits expire on their own schedules. Families must locate what exists, recover credentials, prove authority to institutions with different requirements, and repeat the same explanation through phone trees, chatbots, mailed forms, and manual review that takes months, while simultaneously handling grief, caregiving, and estate settlement.
Eazewell Advance works in three phases. First, the AI identifies a user’s full digital footprint, including accounts they have forgotten or stopped using but that remain open, reducing fraud exposure and creating visibility into their actual digital estate. Second, while a user is healthy, it helps them organize and optimize by pausing unnecessary subscriptions, consolidating duplicate services, retrieving forgotten passwords and loyalty program credentials, and creating a comprehensive map of what exists and where. Third, when a major life event occurs, whether incapacity, hospice enrollment, or death, the platform autonomously executes closures, transfers, and notifications, handling institutional coordination that would otherwise consume hundreds of hours of family time.
In practice, Eazewell Advance helps users consolidate and optimize their digital footprint while they’re healthy, identifying forgotten subscriptions, retrieving lost loyalty program passwords, and reducing monthly expenses by eliminating duplicate services. It protects against identity fraud by monitoring accounts and freezing credit when needed. When a major transition occurs, the platform executes the institutional coordination autonomously: canceling subscriptions still billing months later, closing financial accounts across banks and brokerages, retrieving and transferring loyalty points before they expire, notifying credit bureaus, navigating phone trees to reach humans, terminating cloud storage and streaming services, filing notifications with Social Security and government agencies, submitting required documentation to financial institutions, and following up when requests stall. What would take families hundreds of hours across dozens of institutions, Eazewell handles in the background.
“We realized that end of life is no longer just a biological event. It’s a data event,” said Donnell Beverly Jr., CEO of Eazewell. “When a heart stops, the data keeps running. Subscriptions renew. Accounts stay open. Fraud exposure grows. But the problem starts earlier. People lose track of their own accounts while they’re still alive. Eazewell Advance helps them get organized today and handles the rest when the time comes.”
“There’s no API for ‘close this account because someone died,'” said Dr. Viviane Ghaderi, CTO of Eazewell, who previously built conversational AI at Amazon Alexa and autonomous vehicle systems at BMW. “The interfaces are phone trees and chatbots. Verification questions change mid-call. Documentation requirements vary by state and institution. We trained the system on provider-specific protocols, the sequences, escalation paths, and documentation rules required to reach completion.”
Enterprise Partners
Eazewell Advance integrates directly into the platforms that hospice providers and insurers already use. Families never download an app or create a login. The capability is there when they need it.
Axxess provides the technology platform for more than 9,000 healthcare organizations delivering hospice and home health care to over 7 million patients and has processed more than $37 billion in claims.
“Hospice providers are always looking for ways to focus more on caring for patients and the loved ones they leave behind,” said Tim Ingram, Executive Vice President of Partnerships at Axxess. “Working with Eazewell Advance, we’re now able to offer providers a practical way to help families organize and close out a loved one’s digital life, reducing months of administrative strain so that hospice teams and families can focus on what truly matters.”
Mountain Life Insurance offers life insurance and annuity products across 19 states.
“For over 53 years, Mountain Life Insurance Company has been committed to delivering long-term financial security and peace of mind for the individuals and families we serve,” said Jeffrey Breeze, President of Mountain Life Insurance. Partnering with Eazewell allows us to extend that commitment beyond the policy itself—helping families navigate the administrative and digital responsibilities that arise during major life transitions, reducing burden, and providing meaningful support when it matters most.”
Availability
Eazewell Advance is available now. Insurance companies, hospice providers, employers, and membership organizations can contact partnerships@eazewell.com or visit eazewell.com.
About Eazewell
Eazewell builds autonomous AI that handles the administrative burden families face before and after a death. CEO Donnell Beverly Jr. founded the company after losing both of his parents in a short period of time and experiencing firsthand how phone calls and paperwork consumed the time he wanted to spend with family. He co-founded the company with Russell Westbrook and Kemba Walker, longtime friends who shared similar experiences with loss. CTO Dr. Viviane Ghaderi previously built AI systems at Amazon and BMW. eazewell.com.
About Axxess
Axxess is the leading global technology platform transforming how care is delivered in the home. Trusted by more than 9,000 organizations worldwide, its robust ecosystem empowers healthcare professionals to deliver exceptional care to more than 7 million patients. As a true partner committed to its clients’ success, Axxess listens, adapts and innovates alongside them to meet today’s challenges and prepare them for tomorrow’s opportunities. Recognized nationally as a “Best Place to Work,” Axxess fosters a collaborative culture that fuels innovation and excellence.
About Mountain Life Insurance
Established in 1972, Mountain Life remains committed to serving its policyholders from its Home Office in Lexington, Kentucky.
The company offers life insurance and annuity policies across 24 states. With a reputation for customer service for over 50 years, Mountain Life is dedicated to creating value for its policy holders through operational excellence, strategic investments, and sustainable business practices.
“There is no emergency,” Connecticut interim Insurance Commissioner Joshua Hershman wrote this week of the liquidation proceedings involving PHL Variable Insurance Co.
There is “no basis” for large policyholders to intervene in the process, and Judge Daniel J. Klau should deny such requests, Hershman added in a memorandum filed Tuesday.
SWS Holdings and BroadRiver Asset Management share the same frustrations: When former insurance commissioner Andrew Mais took over the financially troubled PHL in May 2024, he sought an accompanying moratorium that capped PHL benefits at $300,000. Large policyholders say the moratorium discriminates against them while not impacting smaller policyholders.
Mais retired on Nov. 28 and was succeeded by Hershman, who pivoted to liquidation in a Dec. 31 status update. That prompted renewed anger from SWS and BroadRiver, who filed emergency motions to intervene.
The motions sought a total or partial premium holiday for their universal life policies, arguing they were misled into continuing payments under the assumption that a rehabilitation plan would sustain coverage indefinitely. The filing disputes those claims, saying the rehabilitator never promised ongoing coverage and has provided options to preserve policyholder claims during the receivership.
“The Movants’ narrative is false,” the filing reads, noting that the rehabilitator has been transparent that any rehabilitation plan would depend on a successful marketing process and would only proceed if it provided policyholders with greater coverage than a standard liquidation.
Efforts continue to pursue a transaction that would provide over-the-cap policyholders — those with benefits exceeding guaranty association limits — more coverage than they would receive in a standard liquidation.
The court previously denied a similar motion to intervene and approved modifications to a moratorium that allow policyholders to assert claims for premiums paid if they surrender their policies. The rehabilitator’s filing emphasized that the premium holiday sought by BroadRiver and SWS would be inequitable to other policyholders, particularly the majority with positive cash surrender values who have already prepaid premiums.
“The Moratorium Modifications approved by the court are the best and fairest path forward at the present time,” the filing states, adding that policyholders still have options to terminate policies and recover premiums paid under the approved plan.
Multi-million-dollar policies
SWS Holdings owns two Phoenix Generations universal life policies worth $18 million in death benefits, policies intended to fund an eventual stock purchase agreement. The company has paid more than $12 million in premiums to date, court documents say.
The BroadRiver policyholders have paid $57.1 million in premium payments, $19.7 million in the 19 months since Connecticut regulators began their rehabilitation of PHL Variable, their memo reads.
From the end of 2023 to September 2025, the amount of cash and short-term investments held by the PHL companies increased from $103 million to $437.5 million. Regulators fattened PHL’s coffers through the large premiums investors paid, the BroadRiver motion claims.
But Hershman’s memo says that the allegation is “false.”
The estate’s increase in cash during that period is primarily the result of three items having nothing to do with premium payments, Hershman said: A reimbursement of $100 million from the separate account to the general account for benefits the general account paid (post-rehabilitation) on behalf of the separate account; about $66 million in funds received from reinsurers; and about $81 million received from the sale of investments.
“Even if there were a legal basis for the Intervention Motion, the ultimate relief requested by Movants should be denied, because the premium holiday they seek is inequitable to other policyholders,” Hershman concluded. “It would have been inappropriate in a rehabilitation plan, it will be inappropriate in a liquidation plan, and it is inappropriate as part of this ongoing receivership case.”
NEW YORK–(BUSINESS WIRE)–
New York Life today announced the launch of New York Life Investment Management as the unified global brand that brings together the full strength of its asset management businesses across public and private markets. With $807.7 billion in assets under management as of Dec. 31, 2025, the platform represents one of the largest active asset managers in the world.
The brand launch marks a significant milestone in New York Life’s strategy to integrate its global asset management capabilities – which the company announced last September.
“By unifying our asset management businesses under one global brand, we are strengthening our ability to deliver expanded solutions across public and private markets and deepen long-term partnerships with clients navigating increasingly complex markets,” said Craig DeSanto, Chair, President & CEO of New York Life.
New York Life Investment Management brings together leading capabilities in global active fixed income and private markets while preserving the specialized expertise and autonomy of its affiliated investment managers. The firm operates with a long-term orientation grounded in disciplined risk management and enduring client relationships. This unified platform brings those shared principles together across New York Life’s global asset management businesses, strengthening how the firm serves clients in public and private markets.
“Our global brand reflects the strength and scale of our platform across public and private markets, making the full breadth of our capabilities more visible and accessible to clients navigating the next era of investing,” said Naïm Abou-Jaoudé, CEO, New York Life Investment Management. “With the support of New York Life, we are continuing to expand the breadth of our offerings, guided by disciplined active management, long-term partnerships, and the enduring values of our firm.”
To support the global launch, the firm will introduce a new advertising campaign centered on the message: “Built on stability. Designed for what is next.” The campaign is one of several investments being made alongside initiatives to enhance distribution, expand product development, advance innovation and deepen client relationships.
New York Life Investment Management is among the top 30 largest asset managers globally, with leading positions in both global active fixed income (top 25 globally) and private markets (top 15 globally).i
ABOUT NEW YORK LIFE
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largestii mutual life insurance company in the United States and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance and other solutions. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies.iii
ABOUT NEW YORK LIFE INVESTMENT MANAGEMENT
With approximately $807.7 billioniv in assets under management as of Dec. 31, 2025, New York Life Investment Management is a Pensions & Investments’ Top 30 Largest Money Managerv and one of the largest active asset managers globally, with leading positions across both public and private markets. Comprised of the affiliated global asset management businesses of New York Life Insurance Company, New York Life Investment Management is committed to achieving enduring financial outcomes and building long-term partnerships across market cycles and generations. Our specialized, independent investment teams bring disciplined active management and deep expertise to help clients navigate the next era of investing.
“New York Life Investment Management” is the brand name and service mark used to represent a group of affiliated investment advisers of New York Life Insurance Company, including New York Life Investment Management LLC, a registered investment adviser.
Investment products are not guaranteed, are not obligations of, or backed by, New York Life Insurance Company. References to the financial strength or credit ratings of New York Life Insurance Company apply solely to its insurance and annuity products.
New York Life Insurance Company (“New York Life”) or its affiliates may invest in certain strategies or vehicles managed by its affiliated investment advisers. Such investments do not occur in all strategies or products, and the amount, timing, and terms of any New York Life investment may differ from those applicable to clients. The existence of such investments does not imply identical investment terms, allocation priority, risk exposure, or investment outcomes. New York Life does not guarantee the performance of any strategy or client investment. All investments involve risk, including the possible loss of principal.
i As of Dec. 31, 2025, global active public fixed income assets and private markets (alternatives) assets were evaluated for ranking purposes. The Top 25 global active public fixed income manager rankings are based primarily on data from eVestment, Inc., with certain peer assets derived from company public filings where eVestment data was incomplete or deemed less representative. The Top 15 alternatives asset manager rankings are based on internal analysis of publicly available company filings and materials. In both cases, certain peer assets may reflect different reporting dates due to data availability, and NYLIM assets are as of Dec. 31, 2025. Where necessary for alternatives, figures were aggregated from disclosed business segments or converted to U.S. dollars using publicly available spot rates as of December 31, 2025. Rankings are based solely on reported active public fixed income or alternatives assets under management derived from self-reported and publicly available information, which may not be calculated on a consistent basis across managers. Definitions of “active,” “public,” and “fixed income,” as well as “alternatives,” may differ and affect comparability. Rankings reflect asset size only and do not evaluate performance or imply future results. No compensation was provided, directly or indirectly, to obtain or use these rankings.
ii Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 9/30/2025. For methodology, please see https://fortune.com/company/new-york-life-insurance/
iii Individual independent rating agency commentary as of Oct. 28,2025: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aa1), Standard & Poor’s (AA+).
iv Assets under management (AUM) includes assets of the investment advisers that make up “New York Life Investment Management” as of Dec. 31, 2025. AUM includes certain assets, such as non-discretionary AUM, external fund selection, and overlay services, including ESG screening services, advisory consulting services, white labeling services, and model portfolio delivery services, that are not necessarily considered Regulatory Assets Under Management according to the SEC’s Form ADV. AUM is reported in USD. AUM not denominated in USD is converted at the spot rate as of Dec. 31, 2025. The total AUM figure of “New York Life Investment Management” is less than the sum of the AUM of each affiliated investment adviser in the group because it does not count AUM where the same assets can be counted by more than one affiliated investment adviser.
v New York Life Investment Management ranked 28th largest institutional investment manager in Pensions & Investments’ Largest Money Managers 2025 published June 2025, based on worldwide institutional AUM as of Dec. 31, 2024. No direct or indirect compensation was paid for the creation and distribution of this ranking.
First Federal Bank was recognized by USA Today in America’s Best Customer Service 2026 and America’s Best Customer Service Financial Services 2026.
The distinction of America’s Best Customer Service and America’s Best Customer Service Financial Services are the result of USA Today partnering with research firm Plant-A Insights. America’s Best Customer Service spotlights brands across 45 categories that go above and beyond in their customer service, both in-store and online. The rankings are a result of a wide range of customercentric metrics, publicly available data, and one of the largest independent customer service studies conducted in the United States. Using their proprietary scoring model, Plant-A identified the top 750 performers: 250 service providers, 250 in-store retailers and 250 online shops.
America’s Best Customer Service Financial Services spotlights the top 500 companies across credit unions, banks, life insurers, fintech firms and more. Plant-A analyzed more than 57,000 customer responses from September 2025 through October 2025 and narrowed an initial list of 13,000 companies to the final 500. The final list is based on customer experience with financial services companies across seven dimensions of customer satisfaction, including professional competence, customer service, problem solving, and friendliness.
“Being recognized by USA Today as one of America’s Best in Customer Service is an honor and reflection of the relationships we’ve built with our customers and communities.” said John A. Medina, President and Chief Executive Officer. ‘We succeed when our customers succeed, and we’re proud to be recognized for service that truly makes a difference.”
