An insurance company licensed and authorized to do business in a particular state.
Companies that market and sell products via independent agents.
An insurance company incorporated under the laws of a foreign country, as opposed to a foreign insurance company that does business in states outside its own.
The insurance company that issues the Annuity.
A company that owns or controls one or more banks. The Federal Reserve has responsibility for regulating and supervising bank holding company activities, such as approving acquisitions and mergers and inspecting the operations of such companies. This authority applies even though a bank owned by a holding company may be under the primary supervision of … Read moreBank Holding Company
An intermediary between a customer and an insurance company. Brokers typically search the market for coverage appropriate to their clients. They work on commission and usually sell commercial, not personal, insurance. In life insurance, agents must be licensed as securities brokers/dealers to sell variable annuities, which are similar to stock market-based investments.
Company formed to insure the risk of its parent corporation. A captive may be formed for a variety of reasons, including tax benefits, improved investment returns, or the lack of other insurance Alternatives.
Insurers that are created and wholly-owned by one or more non-insurers, to provide owners with coverage. A form of self-insurance.
The original or primary insurer; the insurance company which purchases reinsurance. The company that transfers its risk to a reinsurer. Also called the Cedant.
Insurance companies that sell directly to the public using exclusive agents or their own employees, through the mail, or via Internet. Large insurers, whether predominately direct writers or agency companies, are increasingly using many different channels to sell insurance. In reinsurance, denotes reinsurers that deal directly with the insurance companies they reinsure without using a broker.