Results for "life insurance"

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Second time around, life insurers braced for downturn: UBS

August 12, 2011

The trauma that life insurers went through in 2008-09 may have been painful, but it seems the lessons learned during the financial meltdown may pay off during the current market turmoil. Indeed, Andrew S. Kligerman, a life insurance analyst...

MetLife says 30 jurisdictions are auditing unpaid benefits

August 5, 2011

MetLife Inc., the largest U.S. life insurer, said more than 30 U.S. jurisdictions are auditing its practices in a review of whether the industry is holding unclaimed funds owed to policyholders, beneficiaries or states. The audits may lead to...

Sun Life guns for market share in hybrid life/LTC space

July 8, 2011

Sun Life Financial Inc.'s hybrid whole-life and long-term-care product came out just last month, but the insurer is champing at the bit to build market share in a space currently dominated by just a select few. The burgeoning linked-benefits...

Life agents accuse Aviva of 'unclean hands' in unholy Stoli mess

June 17, 2011

Six life insurance agents claim that Aviva Life and Annuity Co. had consented to the offer of insurance coverage to some 119 churchgoers in Los Angeles. Agents Kazimir Patelski, Glenda Smith-Lee, Napoleon B. Kinney, Cheralynne Bridgewater, Candice...

Surprisingly sexy: This sector is being talked up by analysts

June 9, 2011

Wall Street analysts are upbeat on life insurance stocks, citing higher asset quality and better sales numbers. Life insurers, cash-rich and displaying improved fundamentals, have bounced back from the financial crisis, but their shares are...

John Hancock to pony up $1 million to Louisiana in death benefit flap

May 24, 2011

The state of Louisiana will collect about $1 million in a settlement with John Hancock Life Insurance Co. as part of a massive investigation into the insurer's payment of death benefits. The agreement will go into effect next month, according...

Probe widens, as California examines how 10 life insurers handle dormant policies

May 24, 2011

A slate of major life insurers — the ten largest doing business in California — are under investigation for the way they handle dormant life insurance policies. California insurance commissioner Dave Jones yesterday announced a market conduct...

Insurance cops grill MetLife, Nationwide on death benefits

May 19, 2011

Insurance regulators questioned MetLife Inc. executives today at a hearing in Florida as they sought to understand the insurer's death benefit settlement practices The hearing, hosted by Florida's insurance commissioner Kevin McCarty, is part...

MetLife names Goulart as new CIO

May 2, 2011

MetLife Inc., the largest U.S. life insurer, selected Steven J. Goulart as chief investment officer to oversee a portfolio valued at more than $450 billion. Goulart, 52, replaces Steven Kandarian, who became chief executive officer of the New...

Agents fleeced Aviva in church insurance scheme, suit claims

April 4, 2011

Aviva Life and Annuity Co. late last month filed suit in federal court against a handful of life insurance agents, claiming they fraudulently sold coverage to some 119 church members. The suit, filed in the U.S. District Court in the Central...

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...

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