global business travel group investors

American Express Global Business Travel Becomes Publicly Traded Company

The Company’s common stock will trade on the NYSE under ticker symbol “GBTG” beginning on May 31, 2022

Listing highlights momentum of business travel recovery and Company’s industry leadership position

NEW YORK--( BUSINESS WIRE )--American Express Global Business Travel (“Amex GBT” or the “Company”), the world’s leading B2B travel platform, today announced that it will begin trading as a public company on the New York Stock Exchange (“NYSE”) under ticker symbol “GBTG” on May 31, 2022.

Paul Abbott, Amex GBT’s Chief Executive Officer, said: “ Today marks a significant milestone in the business travel industry recovery and for Amex GBT. With strategic initiatives over the last few years, including complementary accretive acquisitions, product and technology enhancements and lasting cost reductions, we have confidence that we are very well positioned to win a larger portion of the $1.4 trillion business travel market. As a publicly traded company, we will have the flexibility to further accelerate our growth strategy.

“ Trading as a public company follows years of work to strengthen our market leadership position. While listing our company is an achievement, it also marks the beginning of a new phase of growth paired with a focus on delivering long-term shareholder value as the world’s largest publicly traded B2B travel platform.”

Amex GBT has become a publicly traded company following the completion of its previously announced business combination with Apollo Strategic Growth Capital (NYSE: APSG, APSG.U, APSG WS) (“APSG”), which was approved by APSG shareholders on May 25, 2022, and closed on May 27, 2022. Concurrently with the closing of the business combination, the Company received proceeds from cash in trust and PIPE investments, including sizable investments by strategic investors Zoom and Sabre, and new investors Apollo, Ares and HG Vora. These investors join American Express Company, Certares and Expedia Group, which remain invested in the Company. The Class A common stock and warrants of the newly combined company, Global Business Travel Group, Inc., will trade on the NYSE under the new ticker symbols “GBTG” and “GBTG WS”, respectively, beginning on May 31, 2022.

About American Express Global Business Travel

American Express Global Business Travel is the world’s leading B2B travel platform, providing software and services to manage travel, expenses, and meetings & events for companies of all sizes. We have built the most valuable marketplace in B2B travel to deliver unrivalled choice, value and experiences. With travel professionals in more than 140 countries, our customers and travelers enjoy the powerful backing of American Express Global Business Travel.

Visit amexglobalbusinesstravel.com for more information about Amex GBT. Follow @amexgbt on Twitter , LinkedIn and Instagram .

“American Express,” “Amex,” “powerful backing” and the American Express logo are trademarks or service marks of, and the property of, American Express Company or its subsidiaries (American Express). GBT Travel Services UK Limited (GBT UK) and its authorized sublicensees use the American Express trademarks and service marks in the “American Express Global Business Travel” brand and in connection with its business under a limited license from American Express. GBT UK is a subsidiary of Global Business Travel Group, Inc. American Express holds a minority interest in Global Business Travel Group, Inc., which operates as a separate company from American Express. As such, an investment in Global Business Travel Group, Inc. is not an investment in American Express. American Express shall not be responsible in any manner whatsoever for, and in respect of, the statements herein, all of which are made solely by Global Business Travel Group, Inc.

Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including those related to travel recovery, market size and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “predicts,” “projects,” “should,” “could,” “would,” “may,” “will,” “continue,” “forecast” or other similar expressions. All forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company as of the date of this press release, and may include, without limitation, changes in general economic conditions as a result of COVID-19, all of which are accordingly subject to change. Any such estimates, assumptions, expectations, forecasts, views or opinions set forth in this press release should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results.

The forward-looking statements contained in this press release are subject to a number of factors, risks and uncertainties, some of which are not currently known to the Company. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the registration statement on Form S-4 filed by APSG with the SEC, which was declared effective by the SEC on May 4, 2022, the proxy statement/prospectus and other documents filed or that may be filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from expected results contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted against the Company following the completion of the business combination; (2) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain key employees; (3) changes in the applicable laws or regulations; (4) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (5) the ongoing impact of the global COVID-19 pandemic; and (6) other risks and uncertainties described in the Company’s filings with the SEC. The Company cautions that the foregoing list of factors is not exclusive and not to place undue reliance upon any forward-looking statements, which speak only as of the date made.

The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

Media: Martin Ferguson Vice President Global Communications and Public Affairs, American Express Global Business Travel [email protected]

Investors: Barry Sievert Vice President Investor Relations, American Express Global Business Travel [email protected]

• S&P Dow Jones Indices
• S&P Global Market Intelligence
• S&P Global Mobility
• S&P Global Commodity Insights
• S&P Global Ratings
• S&P Global Sustainable1
• Investor Relations Overview
• Investor Presentations
• Investor Fact Book
• News Releases
• Quarterly Earnings
• SEC Filings & Reports
• Executive Committee
• Corporate Governance
• Merger Information
• Stock & Dividends
• Shareholder Services
• Contact Investor Relations
• Email Subscription Center
• Media Center

American Express Global Business Travel SPAC deal closes

Next in Tech | Episode 171: Concerns About Fraud Drive AI Investment

MediaTalk | Season 2 EP 16 - Streamers' Quest for Profitability: Ads vs. Price Hikes

Next in Tech | Episode 170: Corporate Language Analysis in Pride Month

MediaTalk | Season 2 EP 15 - Talking a 'Transformational' Upfront with A&E

• 30 May, 2022
• Author John Baguios
• Theme Healthcare & Pharmaceuticals Real Estate Technology, Media & Telecom Banking Fintech Insurance

American Express Co.'s travel management joint venture, American Express Global Business Travel, will start trading as a public company on the NYSE following the completion of its business combination with special purpose acquisition company Apollo Strategic Growth Capital.

Apollo Strategic Growth Capital shareholders approved the deal May 25, with the transaction closing May 27.

Concurrently with the closing of the business combination, American Express Global Business Travel received proceeds from cash in trust and PIPE investments, including investments by strategic investors Zoom Video Communications Inc. and Sabre Corp. as well as new investors Apollo Global Management Inc., Ares Management Corp. and HG Vora Capital Management LLC.

The class A common stock and warrants of the newly combined company, Global Business Travel Group Inc., will trade on the NYSE under the new ticker symbols GBTG and GBTG WS, respectively, beginning May 31.

• John Baguios
• Healthcare & Pharmaceuticals Real Estate Technology, Media & Telecom Banking Fintech Insurance

Cookies on GOV.UK

We use some essential cookies to make this website work.

We’d like to set additional cookies to understand how you use GOV.UK, remember your settings and improve government services.

We also use cookies set by other sites to help us deliver content from their services.

You have accepted additional cookies. You can change your cookie settings at any time.

You have rejected additional cookies. You can change your cookie settings at any time.

Register to vote Register by 18 June to vote in the General Election on 4 July.

• Competition and Markets Authority cases and projects

Global Business Travel Group, Inc / CWT Holdings, LLC merger inquiry

The CMA is investigating the anticipated acquisition by Global Business Travel Group, Inc of CWT Holdings, LLC.

Statutory timetable

4 June 2024: The CMA announced the launch of its merger inquiry by notice to the parties.

• Commencement notice (PDF, 91KB) (4.6.24)

Invitation to comment: closes 18 June 2024

4 June 2024: The CMA is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

• Invitation to comment (PDF, 118KB) (4.6.24)

To assist it with this assessment, the CMA invites comments on the transaction from any interested party.

Written representations about any competition issues should be provided by the deadline set out above.

Please send written representations about any competition or public interest to:

Principal Case Officer, Lucy Watkiss

[email protected] , 020 3738 6075

Case Officer, George Ankers

[email protected] , 020 8798 1024

Your name and contact details are your personal data. In collecting, receiving, storing, accessing and using your personal data, the CMA, as controller, is processing your personal data. The CMA processes personal data in accordance with data protection law. The CMA is processing your personal data so that it can contact you again, should it need further help or information from you, in order to carry out its merger work under Part 3 of the Enterprise Act 2002. For more information about how the CMA processes personal data and your rights relating to that data, please see our Privacy Notice .

Is this page useful?

• Yes this page is useful
• No this page is not useful

Help us improve GOV.UK

Don’t include personal or financial information like your National Insurance number or credit card details.

To help us improve GOV.UK, we’d like to know more about your visit today. Please fill in this survey (opens in a new tab) .

We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here . By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service .

New to Zacks? Get started here.

Member Sign In

Don't Know Your Password?

• Zacks #1 Rank
• Zacks Industry Rank
• Zacks Sector Rank
• Equity Research
• Mutual Funds
• Mutual Fund Screener
• ETF Screener
• Earnings Calendar
• Earnings Releases
• Earnings ESP
• Earnings ESP Filter
• Stock Screener
• Premium Screens
• Basic Screens
• Thematic Screens
• Research Wizard
• Personal Finance
• Money Management
• Retirement Planning
• Tax Information
• My Portfolio
• Create Portfolio
• Style Scores
• Testimonials
• Zacks.com Tutorial

Services Overview

• Zacks Ultimate
• Zacks Investor Collection
• Zacks Premium

Investor Services

• ETF Investor
• Home Run Investor
• Income Investor
• Stocks Under $10
• Value Investor
• Top 10 Stocks

Other Services

• Method for Trading
• Zacks Confidential

Trading Services

• Black Box Trader
• Counterstrike
• Headline Trader
• Insider Trader
• Large-Cap Trader
• Options Trader
• Short Sell List
• Surprise Trader
• Alternative Energy

You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.

If you wish to go to ZacksTrade, click OK . If you do not, click Cancel.

Image: Bigstock

Global Business Travel Group, Inc. (GBTG) Reports Break-Even Earnings for Q1

Global Business Travel Group, Inc. ( GBTG Quick Quote GBTG - Free Report ) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of $0.01. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -100%. A quarter ago, it was expected that this company would post a loss of $0.06 per share when it actually produced a loss of $0.10, delivering a surprise of -66.67%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Global Business Travel Group, Inc. , which belongs to the Zacks Transportation - Services industry, posted revenues of $610 million for the quarter ended March 2024, missing the Zacks Consensus Estimate by 1.16%. This compares to year-ago revenues of $578 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Global Business Travel Group, Inc. Shares have lost about 3.4% since the beginning of the year versus the S&P 500's gain of 8.6%.

What's Next for Global Business Travel Group, Inc.

While Global Business Travel Group, Inc. Has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release , the estimate revisions trend for Global Business Travel Group, Inc. Mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.03 on $632.45 million in revenues for the coming quarter and $0.07 on $2.46 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Services is currently in the bottom 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Despegar.com ( DESP Quick Quote DESP - Free Report ) , has yet to report results for the quarter ended March 2024.

This online travel company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of +160%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Despegar.com's revenues are expected to be $173.82 million, up 9.5% from the year-ago quarter.

See More Zacks Research for These Tickers

Normally $25 each - click below to receive one report free:.

Despegar.com Corp. (DESP) - free report >>

Global Business Travel Group, Inc. (GBTG) - free report >>

Published in

This file is used for Yahoo remarketing pixel add

Due to inactivity, you will be signed out in approximately:

Expedia Rewards is now One Key™

Elektrostal, visit elektrostal, check elektrostal hotel availability, popular places to visit.

• Electrostal History and Art Museum

You can spend time exploring the galleries in Electrostal History and Art Museum in Elektrostal. Take in the museums while you're in the area.

• Cities near Elektrostal

• Places of interest
• Yuri Gagarin Cosmonaut Training Center
• Central Museum of the Air Forces at Monino
• Peter the Great Military Academy
• Ramenskii History and Art Museum
• Bykovo Manor
• Pekhorka Park
• Balashikha Arena
• Malenky Puppet Theater
• Balashikha Museum of History and Local Lore
• Saturn Stadium
• Orekhovo Zuevsky City Exhibition Hall
• Noginsk Museum and Exhibition Center

Everton takeover: Group led by London-based businessman makes £400m bid for club

A group of international investors led by London-based businessman Vatche Manoukian has joined the increasingly crowded field of potential new owners at Everton by making a £400million all-equity bid for the Premier League club.

The nephew of an Armenian entertainment and property tycoon, Manoukian is a partner in global technology investment firm IMS Digital Ventures and his bid group includes investors from the Gulf and United States.

Advertisement

Their interest means current owner Farhad Moshiri has three firm bids already on the table, with at least two other interested parties keen to make a move if the price and timing is right. Everton declined to comment on the latest bid when approached by The Athletic .

The frontrunners, certainly in terms of fan sentiment, are British businessmen and lifelong Everton fans Andy Bell and George Downing.

They are already part of a group led by US investment firm MSP Sports Capital that lent Everton £158million last year, so they have the added incentive of trying to protect their existing investment in the club.

New groups enter Everton bidding with announcement expected who Moshiri favours

Their bid, which was lodged last week, is a mix of fresh equity and a £350million loan secured on the club’s new stadium that would refinance Everton’s existing debts.

That loan would be provided by the merchant bank BDT & MSD Partners, which was originally set up to invest American IT billionaire Michael Dell’s wealth.

Contrary to some reports, Dell himself has no desire in buying Everton, or any other English football club, as it would be a clear conflict of interest with his investment firm’s lucrative lending business. MSD has lent money to Burnley , Derby , Southampton , Swansea , West Bromwich Albion and West Ham .

Confusingly, the third bid is from Bell and Downing’s partners, MSP Sports Capital, as the New York-based fund has put together a new group with a view to taking full control of the club. This bid is believed to be a complex mix of equity and debt.

However, alongside this trio, there are also the likes of John Textor and Dan Friedkin, two American businessmen who have already built multi-club groups.

Textor, as The Athletic first reported, can only make a move for Everton if he can find a buyer for his 45 per cent stake in Crystal Palace , which he has been trying to sell for several months. As well as his Palace shares, he also owns Belgian team RWD Molenbeek, Brazil’s Botafogo and French side Lyon.

Friedkin, the owner of Italy’s AS Roma and French side AS Cannes, has held preliminary talks with Moshiri but has not made a bid for the club.

The gun was fired in this race two weeks ago when the period of exclusivity Moshiri agreed with Miami-based investment firm 777 Partners expired.

That brought an end to a bizarre nine-month saga during which 777 lent Everton almost £200million to meet the club’s running costs and continue the construction of the new stadium at Bramley-Moore Dock. But 777 was unable to meet the Premier League’s conditions for approving the takeover, most notably the settlement of MSP’s £158million loan.

Those 777 loans took Everton’s total debt to almost £1billion, although £450millon of that total is made up of unsecured shareholder loans from Moshiri, which will almost certainly have to be completely, or very nearly completely, wiped out for any new owner to step into his shoes at the club.

For its part, 777 is now fighting bankruptcy, with its main backer, US insurance group A-Cap, calling the shots.

There have been some reports that A-Cap was willing to pick up the baton in 777’s pursuit of Everton and attempt to take control of the club itself but that is not the case, as A-Cap has its own financial concerns to focus on and must distance itself from 777.

Explained: What the failed 777 Partners takeover means for Everton

What is true, however, is that A-Cap has a clear interest in Everton’s debt to 777 and is therefore a key part of the conversation about the club’s future. The most likely outcome is that A-Cap will extend the length of the loan and defer any interest payments.

In terms of who A-Cap will be making that deal with, the various interested parties in Everton believe Moshiri will enter into exclusive negotiations with one of them in the coming days.

(Joe Prior/Visionhaus via Getty Images)

Get all-access to exclusive stories.

Subscribe to The Athletic for in-depth coverage of your favorite players, teams, leagues and clubs. Try a week on us.

Based in North West England, Matt Slater is a senior football news reporter for The Athletic UK. Before that, he spent 16 years with the BBC and then three years as chief sports reporter for the UK/Ireland's main news agency, PA. Follow Matt on Twitter @ mjshrimper

• Best for customer satisfaction
• Best for older adults
• Best for long-term care
• Best for high returns
• Best for agent support
• Best for term life
• Why you should trust us

Best Life Insurance of June 2024

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate insurance products to write unbiased product reviews.

Life insurance is as complicated as the policyholders and beneficiaries who use it. That means there's no single "best" life insurance company. Instead, you can find the best option based on what you want or what you prioritize.

Summary of the Best Life Insurance Companies

• Best for customer satisfaction:   State Farm Life Insurance
• Best for older adults:   Prudential Life Insurance
• Best for agent support:   New York Life Insurance
• Best for long-term care:   Columbus Life
• Best for high returns:   Allianz Life
• Best for term life:   North American Company

Best Life Insurance Companies of 2024

While there is no such thing as the objective best life insurance policy, you will be able to find the best insurance policy for your specific needs. Here are our picks for the best life insurance companies, whether you want to use your life insurance policy to build wealth through cash value or you're just looking for a term life insurance policy .

Best Life Insurance for Customer Satisfaction: State Farm Life Insurance

Bundling is standard, and agents often quote with multiple discounts.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Best in JD Power customer service ratings
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Company offers a range of different insurance products to meet buyer needs
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Agents are knowledgeable about its products
• con icon Two crossed lines that form an 'X'. Life insurance products are conservative and limited
• con icon Two crossed lines that form an 'X'. Buyers may be subject to multi-year waiting periods before they qualify for full payouts on life insurance policies
• con icon Two crossed lines that form an 'X'. State Farm agents cannot offer alternative options if State Farm is unable to bind a life insurance policy

State Farm is one of the insurance industry's most prominent insurers offering auto, home, and other insurance. Bundling is standard, and agents often quote with multiple discounts. Its term, universal, and whole life insurance products are no exception.

• Life insurance products include term and permanent life
• Ranks highly for customer satisfaction

State Farm Life Insurance gets the best life insurance ranking in J.D Power's Individual Life Insurance Study, with a score of 843/1,000. The company is also ranked A++ with AM Best for its financial stability with term, universal, and whole life insurance options. 

All State Farm policies have to be purchased through a State Farm agent. Your agent can help you bundle and save or buy one policy. State Farm is also among the companies offering "survivorship universal life insurance ," which means the policy covers two people, and it kicks in after the second person dies. Couples looking to maximize their death benefit for beneficiaries with one premium payment each month may enjoy lower overall costs.

State Farm agents can run quotes and compare options to find the right plans for each applicant. The range of options, discounts, and familiar name all contribute to the popularity of State Farm's life insurance.

Read our State Farm Life Insurance review here.

Best Life Insurance for Older Adults: Prudential VUL Protector Life Insurance

Offers aggressive financial plans.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Available in all 50 states (New York residents may have different plans)
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Buyers can withdraw money to pay for nursing home bills due to severe illness or disability
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Knowledgeable agents who can walk you through your options
• con icon Two crossed lines that form an 'X'. Financial returns are limited
• con icon Two crossed lines that form an 'X'. Limited policy options for seniors and other groups who might struggle to find life insurance

The aggressive financial plans offered by Prudential may appeal to many younger buyers and those with a stable income. However, those with lower income or buyers who aren't sure about the financial system may be more hesitant to engage with Prudential. Like many other industry giants, Prudential is working to change this perception.

Prudential Life Insurance is available in all states except New York. New York residents can buy the Pruco Life of New Jersey VUL Protector plan. This plan allows buyers to pull money out of their plan to pay for nursing home expenses. Cash value policy premiums are fixed, so you won't have to worry about extra costs later on. Internal costs are low, which minimizes risk. Due to age, many older adults want a safe investment option for their money. Prudential VUL Protector invests to avoid loss. That also means you're not as likely to see big increases in your available funds outside of what you deposit.

Read our Prudential Life Insurance review here.

Best Life Insurance for Long-Term Care: Columbus Life Insurance

Offers lien method to makes it easier to calculate the financial impact of pulling money out early.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Buyers can pull money out for medical and other bills in the event of disease or disability
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Columbus uses lien method to simplify accelerated death payments
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Company offers a wide range of riders to customize policies
• con icon Two crossed lines that form an 'X'. Premiums may be higher than competitors
• con icon Two crossed lines that form an 'X'. Term policies are not guaranteed to be converted to whole

Best for long-term care and accelerated death benefits.

Columbus Life offers a wide range of riders to customize your policy with affordable premiums. The company also allows you to convert term policies to whole life insurance policies until the end of your term (generally around age 70). For this and many other reasons, customer satisfaction is high.

When using living health benefits (otherwise known as accelerated death benefits), buyers are allowed to pull money from policies early to pay for medical bills, living costs, etc. under certain circumstances. Most companies use a discounted death benefit, which reduces your final payout using two models. Columbus uses the lien method, which makes it easier to calculate the financial impact of pulling money out early.

Best Life Insurance for High Returns on Income: Allianz Life Insurance

Offers life insurance policies for foreign nationals with H-1B visas.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Plans offer high returns on investment
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Great for investment and long-term retirement planning
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. May increase your income by as much as 20%
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Allianz offers plans for foreign nationals including H-1B visas
• con icon Two crossed lines that form an 'X'. Plans are meant specifically for high-income adults, alternatives may not be offered

Best for investing and high returns on income.

Allianz Life plans are geared towards high-income adults looking for more tax-free income. Allianz offers a 40% multiplier bonus with a 1% annual assets charge. In short, the professionals managing your investments take 10%. Overall, your investments would pull in an extra 14%-1% asset charge. This means you end up with 3% more than what you deposit every year your life policy is active. This plan offers strong returns when using a life policy to supplement your retirement savings. Allianz also offers specialized plans to grow your income by as much as 20% according to some estimates.

Of note: Allianz also offers plans for foreign nationals, including those with H-1B visas.

Best Life Insurance for Agent Support: New York Life Insurance

Offers aggressive financial products and extensively trained agents.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Strong life insurance options for financial planning and wealth building
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Policies available nationwide
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Knowledgeable life insurance agents
• con icon Two crossed lines that form an 'X'. May require a medical exam
• con icon Two crossed lines that form an 'X'. Buyers looking for more modest policies may not find the most competitive pricing

If you're preparing for a comfortable retirement or looking to build generational wealth, New York Life is one of the strongest options. If you have questions or genuinely want to understand your life insurance options, New York Life agents are among the most qualified professionals in the business.

• Life insurance provider with policies available across the US

New York Life Insurance agents go through extensive training before they ever hit the sales floor. What does this get you? Policies vary widely, and New York Life offers both large and small payouts. Some policies have significant penalties for early withdrawal, but taking a loan offers more options. Whatever your questions, New York Life agents are trained to offer comprehensive support giving you accurate information about its policies every time. The company comes in at position eight in J.D. Power's latest life insurance customer satisfaction study.

Read our New York Life Insurance review here.

Best Life Insurance for Term Life: North American Life Insurance

Offers term policies alongside accelerated death benefits for critical, chronic, and terminal illnesses and more.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers accelerated death benefits for critical, chronic, and terminal illnesses
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers conversion for life policies up to 70 years old
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Term policies can be renewed up to age 95 for qualifying applicants
• con icon Two crossed lines that form an 'X'. Not all term policies qualify for renewal or conversion

Best Term Policy.

North American Company offers term policies alongside accelerated death benefits for critical, chronic, and terminal illnesses and more. The company allows one conversion on a 20-year policy at 15 years or 70 years old (whichever is earlier). The conversion cannot happen later than the five-year marker regardless of which policy you choose or the length. North American Company also offers a term policy with a lower premium renewable up to the age of 95 for qualifying insureds.

Types of Life Insurance

While there's many different types of life insurance policies , broadly speaking, there are two types of life insurance: temporary and permanent. Let's go over each in detail.

Temporary life insurance

Temporary life insurance is often called term life insurance. This type of policy covers you for a set amount of time before expiring, usually between 10-30 years. If you pass away after your policy expires, your family won't receive any benefits. Additionally, your policy won't accrue cash value like a permanent policy. That said, some term life insurance policies offer a conversion from term to whole life insurance, so you can extend your coverage. 

Because its benefits aren't guaranteed, term life policies are generally cheaper than permanent life insurance. That said, the vast majority of term life insurance policies never pay out. on

Permanent life insurance

Permanent life insurance is an umbrella term for a variety of life insurance policies that will insure you indefinitely and guarantee a payout as long as you maintain your policy. Policy types that fall under permanent life insurance includes:

• Whole life insurance
• Universal life insurance
• Variable life insurance
• Variable universal life insurance
• Simplified life insurance
• Guaranteed issue life insurance

These policies vary widely in purpose and intended buyers, but all guarantee death benefits to your loved ones. Some permanent life insurance policies, like whole, universal, and variable have a cash value component , which you can use as a savings tool or to leave your heirs a larger death benefit.

How to Pick the Best Life Insurance Policy for You

Finding the right fit in life insurance starts with finding a trusted insurance agent. Because there are so many state regulations, shopping for homeowners or auto insurance can be easily done online. Life insurance is not required. So it's a voluntary purchase. Many buyers don't know what they need or when they need it. Before making your selection, consider a few things:

Some companies will sell you a policy for your child as soon as they're born. While this may seem morbid, early sign-up means lower rates for a policy your child could enjoy in the future. Regardless, early sign-up equates to more policy for lower premiums and a higher likelihood of acceptance. At 20, you may be healthier and be able to pay into the policy for a longer period compared to when you're 50 with more age-related conditions.

As a general rule, never agree to more than you can afford. For the average life insurance agent, their job is to sell you a large policy with a large commission. Consider not only how much you make now, but how likely your current income is to continue. If you work on a project basis and your project is scheduled to end in 12 months, you may want to reconsider a policy premium outside your monthly savings.

How much are you prepared to buy? Some people only want a small policy to cover funerals and other end-of-life expenses. Others build a life policy into their retirement plan. Whatever direction you're going, involving a financial planner could help you make the right decisions. Depending on the carrier, customers can also compare set limits with index universal life policies, which set no limit. These policies never expire, and the value builds over the entirety of your life.

Living Benefits

Life happens unexpectedly. You could be healthy one day and in the hospital the next. Many life policies offer living benefits. These allow you to draw a limited amount out of your policy to cover medical and other bills you cannot pay while sick.

Much like a 401(k), many life insurance policies have penalties for early withdrawal. No matter what policy you want, this question is critical to an informed decision. It's a question of how early you can withdraw and how much you'll lose from the total to have the money in 10 years instead of 30 or after death.

Some policies require insured parties to pay premiums for at least one year before any significant payout would be available. Suicide exclusions are common. Even with no medical exam policies, the company may still do a check for known conditions. An insurance company has to mitigate its risk.

Flexibility

Once you've been denied a life insurance policy, a mark goes on your record. No matter the reasons, other insurance companies may deny you coverage based on the first denial. So consider your whole situation and choose your policy carefully before you submit any applications. Some policies have greater flexibility if you lose your job or otherwise can't make payments. Others will lapse if you miss even one payment.

Payment Type

Even within whole life or term life insurance policies, customers have the option to choose guaranteed fixed or variable rates. Some have guaranteed payouts, but you'll need to ask your agent for details.

What is your intended use? Why are you shopping for a life insurance policy in the first place, and what are your goals? Many successful financial planners also have a background in life insurance. So while they may not be able to find you a specific life insurance policy, financial planners can help you set out a blueprint for your purchase.

Why You Should Trust Us: How We Reviewed the Best Life Insurance Companies

In life insurance, it's easy to get "sold a bill of goods." Many life insurance agents pass a state test to be thrown into the deep end. Agents sell the company product, but not all know the products. In this vein, we look at the products each company offers. We also look at agent training.

A good life insurance agent may not volunteer all facts upfront. But a company's agents should answer questions about its products accurately and in a way the average consumer can digest. Agents should be able to inform you about the long-term benefits and limitations. This will help customers find the right policy for their long-term plan.

We consider affordability, policy sizes available, and performance for a comprehensive assessment in our insurance rating methodology . If you can, we recommend also working with a financial advisor to make a plan for your future with life insurance.

Our Expert Panel for The Best Life Insurance Companies

To inform our choices for the best life insurance companies, we spoke with the following experts:

• Paul LaPiana , head of product at MassMutual
• Barbara Pietrangelo , CFP, CLU, and chair of the nonprofit Life Happens
• Wykeeta Peel , Corporate Vice President and Market Manager, African American Market Unit at New York Life

The Experts' Advice on Choosing The Best Life Insurance for You

How much life insurance coverage do you believe the average buyer should have.

Paul LaPiana, Head of Product at MassMutual

"There are different approaches to determining how much life insurance you need. One is the 'human life' approach, which estimates the current value of your future earning potential. Another is securing specific coverage to pay off debts such as a mortgage or provide for the education of children. A comprehensive protection plan should provide the right amount of coverage over the course of your working life and into retirement."

Barbara A. Pietrangelo, Chair of Life Happens

"There is no one-size-fits-all life insurance policy because everyone is different. One way to get a rough estimate is to multiply your income by 10 to 15; another is adding $100,00 to that amount, should you have a child and anticipate college education expenses.

Your best bet is to talk to a financial professional or use the Life Insurance Needs Calculator on LifeHappens.org to analyze what's right for you."

Wykeeta Peel, Corporate Vice President & Market Manager African American Market Unit at New York Life

"As you consider what policy best meets your needs, it can help to answer four key questions: First, how much death benefit do you need? Second, how long will you need that coverage? Third, what is your budget (or how much monthly premium can you afford to pay?), and finally, what is your investment risk tolerance?

To determine how much death benefit makes sense, it's helpful to think beyond using life insurance to cover funeral expenses and consider whether anyone is relying on the policy owner's income to maintain a lifestyle, pay rent or a mortgage, or fund a child's education and for how long.

There are various rules of thumb regarding the right amount of Life insurance coverage. Some tips can be found online, but they only provide an estimate and don't necessarily factor in an individual's specific needs. In my opinion, human guidance, powered by technology, is required. Basically, it comes down to how much money your loved ones would need to remain on firm financial ground if your earnings were no longer in the picture and that is different for everyone."

What is the biggest opportunity you see for improvement in the life insurance industry?

"Increased accessibility through digital and other channels as well as through underwriting enhancements. Increased tailoring of products and features. And an increased emphasis on health and wellness programs."

"Having enough qualified insurance professionals to walk potential buyers through the multiple benefits of life insurance will be pivotal to the growth of the industry. Education is a key factor here, as professional agents also need to be able to explain life insurance and its benefits in an easy, digestible way, especially when there are so many misconceptions about life insurance."

"The need for life insurance is greater than ever. In fact, a recent New York Life Wealth Watch survey found that 37% of adults have been thinking about life insurance more often these days – and half of adults report that financial products that provide protection (50%) and reliability (50%) are more important now compared to last year. This may be especially true for middle-market and Cultural Market families.

Our organizational structure of having Cultural Market agents embedded in the communities where we live and work allows us to understand the needs of diverse communities and develop solutions that resonate with them."

What advice would you give to buyers who are debating whether or not to buy life insurance?

"It is difficult to say with any certainty how healthy you will be years from now. That's why securing life insurance, and insuring your insurability, today, when you are the youngest you'll ever be again, and perhaps your healthiest is a wise decision."

"Do you love someone? If the answer is yes, then life insurance is certainly something you should consider. Many buy gifts and experiences to express their love, but haven't considered that life insurance is just another way to say I love you. Nothing says support like ensuring your family's financial security and peace of mind."

"If you have someone depending on your income, you should consider purchasing life insurance. A death benefit from a life insurance policy can replace income from the loss of a breadwinner, ensure a family can stay in their home, fund educational or retirement expenses, address debt and so much more.

A life insurance policy can also help you grow your family's wealth over time. Once the risk of an unexpected loss has been managed, you can begin to think more broadly about your family's financial future. Life insurance can enable your mindset to shift from death to growth."

What's the most important thing buyers should look for when choosing a life insurance agent/company to buy from?

"With life insurance, you are securing a future commitment that may be decades away. Research the company behind the policy to ensure it has high financial strength ratings, longevity, and an excellent track record of paying claims."

"When looking for an insurance agent or company, be sure to do your research. When comparing companies, be sure to remember that the policy features that fit you and your loved ones best is the most important factor. Don't automatically assume you should buy from the higher-rated company.

If the policy from the other company has more of what you're looking for, it might be the better choice. If you're unsure where to start, try the Life Happens Agent Locator to find an insurance professional in your area."

• "The insurers' track record: At its core, life insurance is protection - a hedge against the unexpected - and you are paying premiums in exchange for the promise that the insurer will be there when you need them, so the financial strength and track record of the company backing your policy is critical.
• Customer service: Are service professionals available by phone and digital channels? Is there is an online dashboard where you can manage your policy? Beyond ensuring assistance is available after you purchase a policy, it's also critical to ensure you have access to trusted advice and guidance before you buy.
• Flexibility in conversion: How easy is it to change? Life can be unpredictable and while term insurance can cover your loved ones through a critical period of time, you may decide that access to cash value is an important piece of your strategy.
• Accelerated online applications : Online applications are convenient but don't replace human guidance. Keep in mind that accelerated online applications may have a maximum coverage amount, meaning that you may not be able to get all the coverage you may need exclusively through an online process.
• A range of payment options: It's important to understand how often you're required to make premium payments and whether and how often you can change the frequency of payments."

Best Life Insurance FAQs

According to JD Power's 2023 life insurance study, State Farm is the highest-rated life insurance company when it comes to overall customer satisfaction. However, you still may want to shop around for quotes from various insurers if you're looking to purchase a new policy.

There isn't one best life insurance company, because the best option for you will depend on the type of policy you're looking for. It's best to work with a qualified insurance agent to help you find the best coverage. If you're deciding between multiple similar options, it's also worth consulting J.D. Power's life insurance customer satisfaction study . The latest study ranks State Farm as the top pick for individual life insurance, outpacing Nationwide by three points.

The best type of life insurance policy for you will differ from someone else's, as your policy should be tailored to your needs. The best policy for you will be affordable and will offer the benefits best suited to your situation. For example, some policies are only meant to cover end-of-life expenses such as burial and funeral arrangements, whereas others include living benefits like a cash value insurance plan , which you can borrow against during your lifetime.

Some life insurance policies are advertised as "no medical exam." This doesn't mean the insurer won't ask you about known conditions or look at medical records. Policies with no medical exam also tend to offer lower benefits with higher premiums. Most companies have a network of medical examiners, some of whom can come to your home. You can find our guide on the best no exam life insurance here.

Each situation is different and requires a knowledgeable life insurance agent to assess your best options. Bring all your questions and the coverage you're looking for to an insurance agent near you to explore your options.

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards .

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

**Enrollment required.

• Main content

Citi completes sale of onshore Consumer Wealth portfolio in China to HSBC

• Sale advances previously announced China consumer banking wind-down
• Citi remains committed to serving institutional clients in China

SHANGHAI- Citi announced today it has successfully completed the sale and full migration of its onshore consumer wealth portfolio in China to HSBC Bank China (HSBC), including the transfer of more than 300 employees. Citi and HSBC first  announced the transaction in October 2023.

Citi’s institutional businesses in China are excluded from the sale. Citi remains focused on serving institutional clients in China locally, regionally and globally.

As part of a previously signed agreement, Citi will also transfer its remaining credit card portfolio in China to Fubon Bank China later this year.  

Since announcing its intention to exit consumer banking businesses across 14 markets in Asia, Europe, the Middle East and Mexico as part of its strategic refresh, Citi has now closed sales in nine of those markets including Australia, Bahrain, India, Indonesia, Malaysia, the Philippines, Taiwan, Thailand and Vietnam.

In addition to China, the previously announced wind-downs of Citi’s consumer banking businesses in Korea and overall presence in Russia are in progress. Citi is preparing for a planned IPO of its consumer, small business and middle market banking operations in Mexico and has restarted the sales process for the consumer banking business in Poland.

Titi Cole, Head of Legacy Franchises at Citi, said, “We are sincerely grateful to our former employees for their steadfast commitment to clients and wish them well. We have made significant progress in executing Citi’s strategy, and completing this transaction is another important step forward in simplifying the firm.”

Luke Lu, Citi Country Officer and Banking Head for China, said, “Citi is proud to have a long history in China, and we are intently focused on growing Citi’s institutional businesses in China, serving clients in the market through our network to support their cross-border needs.”

Citi first opened in China in 1902. Today, Citi serves 70% of Fortune 500 companies in the market, over 300 leading local enterprises and many more emerging new economy companies. Leveraging its global network, Citi China is committed to supporting the strategic needs and aspirations of Chinese corporates’ going global, as well as global multinationals’ expanding their footprint in China, and providing global banking capabilities and services to mid-sized companies through commercial banking. As these companies expand internationally, Citi helps enable their growth in other markets and facilitates access to capital through our unique global network and market-leading cross-border financing solutions. 

Citi is also pursuing the establishment of a wholly-owned securities and futures company in onshore China.

Citi China has recently been recognized by the 2024 Fortune China ESG Impact List for its achievements and best practices in the areas of advocating and driving diversity, as well as contributing to social and green finance in China, both for itself and its clients. Citi is the only foreign financial institution to be included on the List.

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Additional information may be found at  www.citigroup.com  | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube:  www.youtube.com/citi  | Facebook:  www.facebook.com/citi  

Media Contacts: Caren Lee, Hong Kong                           852 2962 3339                                         [email protected]                  

Danielle Romero Apsilos, New York 212 816 2264 [email protected]

Investor Contact:             Jennifer Landis 212 559 2718 [email protected]

Certain statements in this release are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. These statements are not guarantees of future results or occurrences. Actual results and capital and other financial conditions may differ materially from those included in these statements due to a variety of factors. These factors include, among others, macroeconomic and local market conditions; governmental or regulatory requirements and actions; geopolitical challenges and uncertainties; the imposition of additional sanctions and export controls; and the precautionary statements included in this release. These factors also consist of those contained in Citi’s filings with the U.S. Securities and Exchange Commission, including without limitation the “Risk Factors” section of Citi’s 2023 Form 10-K. Any forward-looking statements made by or on behalf of Citi speak only as to the date they are made, and Citi does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.

• Global Presence
• Banking and International
• U.S. Personal Banking
• Sustainability
• Strengthening Community
• Diversity, Equity and Inclusion
• Quarterly Earnings
• Events and Presentations
• Annual Reports and Proxy Statements
• SEC Filings
• Other Regulatory Filings
• Fixed Income Investor Relations
• Stockholder Services
• Corporate Governance
• ESG for Investors
• Investor Contacts
• Press Releases
• Perspectives
• Media Resources

Careers, Contact Us, and Regulatory Disclosures

• Regulatory Disclosures
• Notice at Collection
• CA Privacy Hub
• Accessibility
• Ethics Hotline