Results for "life insurance"

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House Republicans to SEC: Halt fiduciary duty rulemaking

March 17, 2011

Republicans on the House Financial Services Committee are urging the Securities and Exchange Commission not to promulgate a regulation that would impose a universal fiduciary duty of care for retail investment advice. “It is our view that...

Merger pace slow for U.S. life insurers in 2010

March 14, 2011

U.S. life carriers had a fairly small appetite for mergers and acquisitions in 2010, with much of the activity taking place in AIG’s shedding of its foreign life insurance subsidiaries. There were 20 announced deals last year, down from 22...

Court to insurer: You can't triple life insurance premiums

January 21, 2011

A federal court judge in California has ruled against Conseco Life Insurance Co. in a class action, barring it from hitting some 50,000 policyholders with sky-high rate increases on life insurance policies. The ruling, delivered Wednesday in...

Regulator seeks bigger backstop for retained-asset accounts

October 1, 2010

New Jersey Banking and Insurance Commissioner Thomas B. Considine yesterday called for an expansion of state guaranty fund protection on retained-asset accounts. The Garden State's insurance regulator is proposing a change to the National Association...

Fiduciary standard's biggest critic? Insurance agents

September 2, 2010

The staunchest opposition to a universal fiduciary standard that would put clients’ interests first isn’t from securities brokers. It’s from insurance agents, comments to the Securities and Exchange Commission show. The SEC is due to submit...

Forged MetLife ‘checks’ show retained-asset risks

August 24, 2010

After her mother died, Jasmine Williams was assured by MetLife Inc. that her $101,819 in life insurance benefits were safe and was sent what the company called a guaranteed money market “checkbook” in 2002. The next year, Williams, then...

Tax fears spell opportunity for insurance agents

August 22, 2010

With higher tax rates likely in the future, the insurance industry is seizing the moment to win business from wealth advisers. “The insurance guys are all over me; they're constantly talking about the tax avoidance and tax deferral benefits...

MetLife, Prudential now facing limits on retaining death benefits

August 12, 2010

U.S. life insurers, a group led by MetLife Inc. and Prudential Financial Inc., would be prohibited from retaining death benefits without specific consent of clients, under a proposal today by state legislators. The proposed legislation “guarantees...

Opinion online: Insurers' self-inflicted scandal

August 4, 2010

If there's one lesson we all can learn from the insurance industry's retained-asset-account mess, it's this: If you're thinking of doing something that won't pass the smell test, don't do it. The insurers' current problems stem from their reluctance...

Cuomo probing insurers ‘secret profits' from grieving families

July 29, 2010

New York Attorney General Andrew Cuomo began a fraud probe into the life insurance industry and subpoenaed MetLife Inc. and Prudential Financial Inc. for information about profits on death benefits retained from the families of deceased policyholders...

Insurers slammed for profiting off soldiers' death benefits

July 29, 2010

The U.S. Department of Veterans Affairs is investigating life insurance companies' practice of putting veterans' death benefits in corporate accounts and keeping most of the investment profits instead of paying the survivors. “The possibility...

Allianz chief wants bigger piece of indexed-life market

June 15, 2010

Allianz Life Insurance Company of North America, already a major player in the indexed-annuity arena, is looking to grab a bigger share of the indexed-life-insurance market. “We're currently looking specifically at indexed life,” president...

What to expect from revived life insurers: UBS analyst

June 11, 2010

Life carriers’ outlook appears to be taking a turn for the better, according to a prominent equities analyst. “The [insurance] industry did a sound job of strengthening its capital,” said UBS equities analyst Andrew Kligerman at Standard...

Life insurance sales boom in first quarter

April 25, 2010

Shaken by the recession and concerned about risk, brokerage firm clients are buying life insurance. First-quarter sales of life insurance policies at major independent broker-dealers were up by at least a third, compared with a year earlier,...

Sholam Weiss appeals 845-year sentence for life insurance plot

March 24, 2010

Bernie Madoff is serving 150 years in prison for a multibillion-dollar fraud. Norman Schmidt got 330 years for his role in a huge investment scam. And then there's white-collar criminal Sholam Weiss, who isn't due for release until November...

U.S. life insurers have plenty of liquidity

March 11, 2010

Though life insurance companies took a beating in 2008, resulting in lowered risk-based-capital ratios, Moody's Investors Service says most companies had enough liquidity following the crisis to withstand severe stress. The ratings agency performed...

Blood tests and Facebook: Life insurers reveal their to-do list for 2010

March 10, 2010

Emerging from the economic downturn, life insurance carriers look to step up their profitability by improving their underwriting processes and embedding social networking into their business models. Or at least, that’s the takeaway from a...

More than 20% of life policies sales in '08 were by direct marketing

March 8, 2010

More than a fifth of all individual life insurance policies sold in the United States in 2008 were sold via the Internet, direct mail and telephone, according to new data from LIMRA and the Life Insurance Direct Marketing Association. Researchers...

Little life in individual-life-insurance sales in 2009

February 26, 2010

New annualized premiums for individual-life-insurance policies were down in the fourth quarter and for the full year of 2009, with the most dramatic declines hitting variable universal life, according to LIMRA. Total new annualized premiums...

AIG throws in a clunker, reports surprise $8.8B loss in 4Q

February 26, 2010

AIG said Friday it lost $8.87 billion in the fourth quarter as its general insurance business remained weak and the company ran up expenses from paying back government loans. The troubled insurer also said in an annual regulatory filing that...

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