Business and Finance Worldwide

With the national economy going berserk for quite some time now, not to mention the global economy, this is the time where we realize the importance of the big players in the industry. Their invaluable contribution greatly helps to keep the economy afloat in these trying times. One notable industry would be the insurance industry as Sam Foti, very well knows.

Mr. Samuel Fonti is the President and Chief Operating Officer of the Mony Group Inc. since 1997. Under his leadership since February of 1994, the Mony Life Insurance Company (Mony Life) which is a subsidiary of the Mony Group Inc., has been one of the leading providers of insurance products and services for individuals, corporations and institutions moreover. Sam Fonti has become one of the leading authorities in the field. Mr. Fonti is founder of Hose Master Inc. as well in Cleveland and is a recipient of the Huebner Gold Medal, as award given to those with significant contributions to The American College.

Being part of the financial services industry, insurance companies invest the finances for providing insurance protection that they collect. Back in 2006, an amount of $1.483 trillion was computed as the assets of insurers. 83% of these assets which is $1.229 trillion were distributed in various investments. $250 billion of the country’s GDP comes from these insurers. They provide about 2.3 million jobs which is 2.1% of the employment in the U.S. These figures alone show how greatly the insurance industry contributes to the economy helping it cope up in this time of crisis.