Aflac regional sales manager Todd Burke addresses advisors representing Annuity Depot.

At the request of its agents, Annuity Depot, a growing life insurance agency on Long Island, is representing Aflac New York.

Annuity Depot President Jack Chite said the move is part of the agency's "continuing efforts to expand its agents' offerings and educate them on products to which they're exposed, but don't know enough about."

Chite said Aflac's vast array of voluntary health insurance products will also help his agents retain clients they might otherwise lose to another agent offering voluntary products.

He said Annuity Depot's agents will move to sell Aflac products to small business owners who typically don't have comprehensive employee benefit plans.

For more information call Annuity Depot at 631.270.7377.

MetLife Rebuffed; Sees Growing Profits
Two days after The Federal Reserve rejected MetLife's request to raise its dividend for the first time in four years, the company said its profits would continue to grow even if interest rates remain near historic lows.

The company said its annual growth rate could be about 4% under that scenario instead of 8% in a normal environment.

The Wall Street Journal said "MetLife's analysis is some of the most explicit so far available to industry analysts and investors, who have expressed concern about the impact of low rates."

Life insurers are sensitive to low rates because premiums from policyholders are invested mostly in bonds.

On the dividend matter, the Fed said MetLife could not do any stock repurchases or dividend increases until after the next round of big bank stress tests, planned for early 2012.

Besides being the biggest U.S. life insurer, MetLife is also the 7th biggest banking company. It projected in July that it will have $4.8 billion of excess capital by year's end that could be returned to shareholders.

Health Insurers Bare Rate Filing Secrets
Just two days after United Health, New York's largest health insurer, agreed to publicly share its previously secret details of rate hike requests, seven other carriers followed suit.

Thus ended a long fight by the companies to keep the filings secret, fearing that information such as pricing and marketing strategies could be used by competitors. But some economists have said more disclosure in the rate-setting process could help reduce health care costs.

New York's stature as one of the toughest insurance watchdogs could prompt other states to challenge the companies for more disclosures. A dozen other states already require rate filing disclosures.

The seven companies which followed United Health's lead are Aetna, Capitol District Physicians' Health Plan, Connecticut General, Emblem Health, Empire Health Choice, Excellus and HealthNow.

Together, the eight insurers have 90% of the market of small group and individual insurance plans in the state.

Cigna's Medicare Buy Changes Its Character
Cigna Corp, the giant health insurer which has long been focused on employers, will now be a major source of Medicare prescription drug plans and Medicare Advantage coverage.

The change comes as a result of Cigna's $3.8 billion deal to buy Health-Spring, the nation's biggest player in Medicare.

Cigna has been saying that it will focus more on individual consumers. This acquisition will fit that direction, the company said.

Health-Spring is best known for its payment structure that provides incentives for doctors who hold down costs and achieve quality measures. Cigna said it hopes to expand Health-Spring's model through a growing Medicare Advantage footprint and by injecting the model into its commercial business.

Such approaches are gaining more traction as an alternative to paying doctors for each service they perform.

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