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In insurance, a managing general agent is defined legally as "an individual or business entity appointed by an underwriting insurer to solicit applications from agents for insurance contracts or to negotiate insurance contracts on behalf of an insurer and, if authorized to do so by an insurer, to effectuate and countersign insurance contracts".
The New York State Legislature unanimously confirmed Benjamin M. Lawsky on May 24, 2011, as New York State's first Superintendent of Financial Services. [9] From May 24, 2011, until October 3, 2011, Lawsky also was appointed, and served as, Acting Superintendent of Banks for the former New York State Banking Department. [9]
This move "forever changed how auto dealerships operate" and in 1964, Ryan founded Pat Ryan & Associates, a brokerage and underwriting agency. [11] [13] [14] By 1968, the firm was selling $15 million in premiums a year. Ryan borrowed money to buy a dormant insurance company, enabling him to underwrite the products his company was selling.
Nationwide Financial Services (NFS), a component of the group, was partially floated on the New York Stock Exchange prior to being repurchased by Nationwide Mutual in 2009. It had owned the majority of NFS common stock since it had gone public in 1997. [5]
From 2015 to 2020, Northwestern Mutual served as the presenting sponsor of the Rose Bowl Game, an NCAA Division I college football bowl game played annually on New Year's Day. [29] As of 2021, the company has $308.8 billion in assets, $31.1 billion in revenues, and $2 trillion worth of active life insurance protection.
The New York Civil List compiled by Franklin Benjamin Hough (pages 99f; Weed, Parsons and Co., 1858) The History of Political Parties in the State of New-York, from the Ratification of the Federal Constitution to 1840 by Jabez D. Hammond (4th ed., Vol. 1, H. & E. Phinney, Cooperstown, 1846)
As part of a spin-off transaction, First American Financial Corporation common stock was distributed to shareholders of The First American Corporation on June 1, 2010. The shares of both companies traded on a “when-issued” basis from May 24, 2010 through June 1, 2010, and began full-fledged trading on the New York Stock Exchange on June 2.
Two MACs are explicitly designated under New York law. Best known is the MAC created for New York City during the 1975 New York City fiscal crisis. The corporation was born of a recommendation made by a special panel composed of Simon H. Rifkind, Felix G. Rohatyn, Richard M. Shinn and Donald B. Smiley. [1]