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Friday, November 20, 2009
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Insurance
Life insurers are concerned that legislation the House Financial Services Committee is likely to approve after Thanksgiving will increase costs substantially for the 28 carriers that have assets of more than $50 billion.
Conseco Inc. said Friday that a subsidiary has reached a reinsurance agreement with Wilton Reassurance Co. covering about 237,000 life insurance policies.
The broker-dealer channel is in the cross hairs of Sun Life Financial Inc. as the company aims to bolster its ranks of variable-annuity wholesalers and reach out to broker-dealers as a new channel for life insurance sales.
Acquiring a life insurance company in the United States is an option that Sun Life Financial Inc. is willing to entertain, Jon Boscia, president of the Canadian financial services firm, said today.
Trade associations representing the life insurance industry and agents today applauded New York's passage of life settlement legislation.
The Principal Financial Group Inc. said Tuesday its president of insurance and financial services will retire at the end of this year.
John Aschenbrenner, 60, has spent 37 years with the Des...
Third quarter indexed annuity sales were up 11.3% from a year ago, but down from record sales levels in the second quarter of 2009.
New York's state Legislature has passed a bill that would to regulate life settlements, requiring brokers and intermediaries to get their insurance licenses.
The bill, which passed the Assembly...
New York Life Insurance Co. is looking to acquire one or more fund companies, according to one of the company's top executives.
The Phoenix Cos. Inc. last week drafted a reinsurance agreement with a subsidiary of Swiss Re, improving the carrier's risk-based capital ratio.
New York Life Insurance Co. has revamped its sales team to make it easier for its wholesalers to sell an array of products to financial advisers — including annuities, mutual funds and guaranteed-income products.
A key state insurance official has called upon the life settlements industry to keep Main Street policyholders in mind — or else.
New York Life Insurance Co.'s life insurance sales broke records over the first nine months of 2009, the insurer reported today.
The John Hancock Financial Network has released a succession-planning platform for its financial representatives.
Earlier today, Robert Benmosche, CEO of AIG, sent a memo to employees at the insurance company addressing speculation about his potential departure. The text of his memo is below:
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