We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (21,155)
  • Industry Conferences (2)
  • Industry Job Openings (35)
  • Moore on the Market (414)
  • Negative Media (144)
  • Positive Media (73)
  • Sheryl's Articles (800)
  • Wink's Articles (353)
  • Wink's Inside Story (274)
  • Wink's Press Releases (123)
  • Blog Archives

  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • September 2008
  • May 2008
  • February 2008
  • August 2006
  • Insurance symposium draws global visitors to Des Moines

    May 20, 2014 by Matthew Patane, mpatane@dmreg.com

    In two days, Iowa’s capital city will see more than 300 insurance professionals flood its downtown for a first-of-its-kind industry conference.

    They’ll come from across the U.S., India, Japan and Germany to discuss regulatory issues and the sector’s best practices.

    Organizers hope the Global Insurance Symposium will give the Des Moines area a new notch in its marketing belt, providing another reason to call the region the “Hartford of the Midwest.” They also hope some of the insurance executives will consider calling central Iowa home.

    “This is shaping up to be one of the more unique opportunities where we can distinguish the state-based (insurance) systems and how it works and how it protects consumers, and also we’re going to highlight the state of Iowa and the city of Des Moines,” said Iowa Insurance Commissioner Nick Gerhart.

    In the last few months, Des Moines’ image as an insurance hub has been bolstered by moves within the industry, including Fidelity and Guaranty Life coming here from Baltimore, and Symetra Life Insurance moving its official headquarters from Seattle. In addition, Athene USA decided to move 220 jobs to West Des Moines from its offices in Topeka, Kan.

    “Those are three huge economic development wins all within insurance and financial services, and all within a short amount of time,” said Jay Byers, CEO of the Greater Des Moines Partnership.

    With 81 insurance company headquarters and 24,100 people employed in the sector, the Des Moines area is one of the nation’s more insurance-heavy regions.

    The employment figure — which the U.S. Bureau of Labor Statistics defines as “insurance carriers and related activities” — is an 11.5 percent jump in the last 10 years. The increase has brought Des Moines closer to Hartford, Conn., which historically has been known as the nation’s insurance capital.

    To bring in new companies, representatives from the Partnership and the state have taken trips to other financial centers, such as New York.

    In February, Partnership staff took New York business leaders to see the premiere of “The Bridges of Madison County” on Broadway, using the opportunity to discuss how moving to Iowa would benefit their firms. They promoted Iowa’s lower business and living costs, its 1 percent insurance premium tax and its more favorable regulatory environment for insurance firms.

    “It was another opportunity” to connect with prospects, Byers said.

    Symetra Financial Corp. cited that regulatory environment as a main reason it was moving to Iowa from Washington.

    Its president and CEO, Tom Marra, said in a January statement that the firm’s move would further its growth “by permitting the company to take advantage of the state-of-the-art statutes and regulations governing the life insurance industry in Iowa, where some of the industry’s biggest players are domiciled.”

    The company said it would open an office in Des Moines, hiring between 20 and 40 employees during the next two to four years.

    While Des Moines’ insurance-related employment has increased in the last decade, the Hartford area has seen a 16 percent decline in that sector’s employment from March 1994 to March 2014. The Hartford metro area had 38,800 insurance employees in March, down from 46,300 10 years ago.

    Iowa also has Drake University and the University of Iowa, which have two of the top programs for actuarial science, a field of study that uses math and statistics to assess risk. Those programs, officials have said, make it easy for insurance companies to recruit the talent they need.

    “It’s people, people, people. That’s why we came out there,” Paul Tyler, senior vice president of strategy and communication for Fidelity and Guaranty Life, said of the firm’s move to Des Moines.

    The Iowa Insurance Division partnered with the Greater Des Moines Partnership and the Iowa Economic Development Authority to host the event.

    The symposium, which is only open to those who registered, starts with a reception at the World Food Prize building on Tuesday. Most of the event, including speakers and panels, takes place Wednesday at the Marriott in downtown Des Moines.

    Byers said the insurance conference allows the partnership to show the leaders of the world’s insurance companies that Des Moines is worth knowing about — or expanding to.

    “We think we can make the case that if you’re in the insurance industry, you can make a very compelling case that if you don’t have a presence in Iowa, you should,” he said.

    Iowa’s insurance sector

    7.8 percent of Iowa’s GDP in 2011*

    19.2 percent of the Des Moines metro’s GDP in 2011*

    213 insurance companies in Iowa

    81 insurance companies in Des Moines area

    41,600 employed statewide as of March 2014*

    24,100 employed in Des Moines area as of March 2014*

    *Defined as “insurance carriers and related activities”

    Source: U.S. Bureau of Economic Analysis/U.S. Bureau of Labor Statistics

    Central Iowa’s major insurance and financial employers

    Wells Fargo & Co. …13,500 employees

    Principal Financial Group … about 6,100 employees

    Nationwide/Allied Insurance … about 5,000 employees

    Marsh … 1,800 employees

    Athene USA … 1,400 employees

    EMC Insurance Cos. … about 1,200 employees

    Source: The Greater Des Moines Partnership

     

    Originally Posted at Des Moines Register on May 17, 2014 by Matthew Patane, mpatane@dmreg.com.

    Categories: Industry Articles
    currency