Core systems

The Principal Financial Group has developed a comprehensive educational program to help consumers and health members better understand their benefits and take charge of their health. Members with medical coverage issued or administered by Principal Life can go online to access their group medical benefit information, including claim status, booklets, explanation of benefit statements and Principal Reimbursement Arrangement balances (if applicable).

Profits of the nation's life and health insurers jumped $14.8 billion, or 437%, to $18.1 billion in the first nine months of 2003, the best third-quarter increase in a decade, according to Weiss Ratings Inc., a Jupiter, Fla.-based independent provider of ratings and analyses of financial services companies, mutual funds and stocks.Driving the industry's steep profit growth, the change in reserves fell to $101.5 billion for the first three quarters of 2003, an $11.8 billion decline compared to the $113.3 billion change in reserves reported for the same period in 2002. The five life and health insurers responsible for nearly 90% of the changes in reserves were Kemper Investors Life Insurance Co., General Electric Capital Assurance Co., Prudential Insurance

The St. Paul Companies Inc., St. Paul, Minn., and Travelers Property Casualty Corp., Hartford, Conn. have received all required regulatory and shareholder approvals for the previously announced merger of the companies.The companies intend to close the transaction on April 1, 2004. The common shares of St. Paul Travelers will be traded under the New York Stock Exchange symbol STA.

U.K.-based Watson Wyatt LLP has spun off its Boston-based insurance and financial services strategic consulting group with a management buy-out led by two senior managers.This follows a review of Watson Wyatt LLP's insurance and financial services consulting strategy in the United States which resulted in a decision to focus on the firm's core life and non-life actuarial consulting business.

COLUMBIA, S.C. -- Indiana Farmers Mutual Insurance Company has signed contracts to implement AcroSoft's Insurance Content Management solution. The initial implementation will include the AS Docs System together with its ad-hoc workflow capability and web application interface, which lets agents and adjusters access their company's document repository via the Internet.

SPRINGFIELD, Mass. -- Massachusetts Mutual Life Insurance Company (MassMutual) announced today its support of an important legislative proposal -- by House Financial Services Committee Chairman Michael G. Oxley (R-Ohio) and Chairman Richard H. Baker (R-Louisiana) of the Capital Markets, Insurance and Government-Sponsored Enterprises Subcommittee - that would modernize an outdated state-based regulatory system. The Oxley-Baker proposal calls for enactment of national regulatory standards to make state insurance regulation more uniform and efficient while creating a more dynamic and responsive marketplace for consumers.

Following nine months of development, the Independent Insurance Agents & Brokers of America (IIABA), Alexandria, Va., also known as the Big "I," has released an upgraded version of the Big "I" Markets software to their more than 3,500 participating agencies (8,000 registered users).Big "I" Markets Version 1.2 offers more secure technology, easier navigation and an increased capacity to take on new products, according to IIABA.

Pearl River, N.Y.-based ACORD has enhanced the role of its Industry and Government Affairs unit by adding a legal capacity with the addition of Gary Bel, vice president, general counsel and corporate secretary, and Kate Ciravolo, vice president and counsel, government affairs. Their addition strengthens the Industry and Government Affairs operation and widens the scope of ACORD's involvement in the development of standards. It also expands the representation of ACORD's membership throughout the industry and regulatory agencies. Bel and Ciravolo will also be handling the general legal activities of the corporation within the in newly combined Legal, Industry and Government Affairs Department."As new regulations and data requirements are implemented across the nation, their impact on the insurance industry continues to grow. The need for data standardization to assist organizations in efficiently and economically complying with these changes is becoming ever more essential," said Gregory Maciag, president and CEO of ACORD. "We've expanded the Industry and Government Affairs group to meet these new demands."

The Principal Financial Group is now providing online claim reports for its group life and disability insurance products to help ease the employee benefit administration process for employer customers.

NEW YORK--The Guardian Insurance & Annuity Company, Inc. (GIAC) announced today that it will reintroduce its Guardian Advantage group variable annuity, a funding vehicle for qualified retirement plans. GIAC intends to initiate new sales by June 1. This decision has no impact on Guardian's other defined contribution products including 401(k) PLUS with The Park Avenue Portfolio.

BOSTON--John Hancock Life Insurance Company (JHLICO) is now offering an inflation-adjusted retail note, an addition to its SignatureNotes program. The inflation-adjusted SignatureNotes will be a medium-term note offering, but have a two-part coupon. The first part is based on the year-over-year change in the Consumer Price Index (CPI). The second part is a fixed amount, set at the time of the offering, which is added to the year-over-year percentage change in the CPI.

Washington, D.C.--The American Council of Life Insurers (ACLI) announced today that it is joining with Computer Sciences Corporation, a leading information technology services provider, to evaluate state and federal regulatory environments for the U.S. life insurance industry, report on the economic impact of the current state-based charter system, and assess the potential for improvement under an optional federal charter system.

ATLANTA--Sun Microsystems, Inc., the creator and leading advocate of Java technology, today announced that it is working with Research In Motion (RIM) to extend mobile Java Web services technology to the more than one million customers currently using BlackBerry. Sun and RIM will enable the end-to-end secure delivery of enterprise data via BlackBerry based on Sun's Java Enterprise System, Java technology for mobile devices, and Web Services technologies.

BIRMINGHAM, Mich.--Richard P. Poyle announced today the formation of an innovative new enterprise called PKC. PKC will provide consulting and inspections to the insurance industry -- but PKC is much more than the typical insurance inspection company. "The vision is to provide a critical service bridge between underwriters and insured companies. Too often we find that vital risk management and loss control systems are lacking or not properly in place. The gap between the insured and the insurer hurts both parties. PKC will close that gap with consulting services, inspections, training services and documentation," said Poyle. PKC is an acronym that stands for the three principals of the new entity: Richard Poyle, Dianne Kennedy and Gary Copeland.

NEW ORLEANS--Managing general agencies, wholesalers and their agency customers can take advantage of expanded nuServe software providing an organized approach to indicating, rating, and binding business as well as processing claims and endorsements.

WASHINGTON--Employers with lower health care cost increases for 2004 more often encourage workers to take responsibility for their health care decisions, according to the 9th annual National Business Group on Health/Watson Wyatt health cost study.

HARTFORD, Conn.--Insurity Inc., a ChoicePoint company, today announced that AEGIS Insurance Services, Inc. has selected Insurity's Commercial Intellisys property/casualty policy processing services and software platform. The company is the managing general agent for AEGIS, a leading insurer of utilities and related energy businesses.

PORTLAND, Ore. -- Standard Insurance Company, a subsidiary of StanCorp Financial Group, Inc. has launched 401(k) on the Brain, a new financial educational series for participants in The Standard's retirement plans. 401(k) on the Brain was developed by The Standard to provide in-depth retirement planning education for participants. It uses everyday language and a humorous, interactive approach to address a wide range of retirement, investing and financial planning topics.

Safeco Corp. has entered into a definitive agreement to sell its life and investments operations to a group of investors led by White Mountains Insurance Group, Ltd., and Berkshire Hathaway Inc. The sale includes Safeco Life & Investments' life insurance, group insurance, annuities and mutual fund businesses. The purchase price is $1.35 billion, and could include additional proceeds based on June 30, 2004 statutory book value.

Travelers Property Casualty Corp. announced that it has executed a definitive agreement settling asbestos-related statutory-based direct actions pending against Travelers under various unfair trade practices acts and similar statutes, including the Wise, Meninger and Cashman purported class actions and similar cases. The settlement in principle was previously announced on November 21, 2003.