Bankers Life and Casualty Co. in Chicago, a subsidiary of Conseco Corp., said Monday that it will provide Penn Treaty American Corp.'s long-term-care insurance to a group of Bankers Life agents through K.F. Agency Inc.
Under the agreement, applications for long-term-care insurance declined by Bankers Life are to be submitted to Penn Treaty. Because Penn Treaty uses a wider variety of underwriting classes, it is believed that most applicants will then be offered coverage, the company said.
The auto lender's earnings outpaced Wall Street's expectations. But shrinking car inventories at dealerships, which stemmed from new tariffs, put a dent in Ally's lending.
The Columbus, Ohio-based regional bank also benefited from strong performances by several legacy business lines, including auto, mortgages and SBA lending.
The Dallas-based lender, which reported a year-over-year decline in earnings, is anticipating increased loan activity and deposit growth later in the year.
With the passage of the bill, large banks are looking into their own stablecoins or partnering with the sector, while concerns linger about state regulation, the separation of banking and commerce and the disintermediation of the banking system.
The regional bank's cloud-based software platform will be one of the first of its kind, a top executive said Friday.
