Results for "life insurance"

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Madison Dearborn to buy NFP for $1.3 billion

April 15, 2013

Private-equity firm Madison Dearborn Partners LLC has agreed to buy National Financial Partners Corp. (NFP) for $1.3 billion, the companies said today. The deal, which includes debt that can be converted into stock, works out to $25.35 a share....

Protective Life spends $1 billion for MONY business

April 12, 2013

In a bid to enhance its earnings, Protective Life Corp. this week reached a deal with Axa Equitable Life Insurance Co. to purchase a closed block of life insurance business. On Wednesday, the carrier agreed to buy Axa's MONY Life Insurance Co....

ING on a voyage to change its name, not its color

April 12, 2013

ING U.S. is changing its name but keeping its signature bright orange hue. The firm's Dutch parent, ING Groep NV, will be spinning off the U.S. unit in an upcoming initial public offering, a move that was set last November. Under the new moniker,...

Cetera acquiring two B-Ds from MetLife

April 7, 2013

Cetera Financial Group is continuing its aggressive expansion, announcing last Friday that it had agreed to acquire two independent broker-dealers from MetLife Inc. for an undisclosed sum. The two MetLife broker-dealers, Tower Square Securities...

Genworth shrinks again, sells off wealth management unit

March 28, 2013

Executives at Genworth Financial Inc. have been busily reshaping the company's operations over the past few years, all in a bid to narrow the carrier's focus. Genworth took another step in that direction Thursday with the announcement of the...

Slim pickings as T. Boone strikes out once again in OSU lawsuit

March 22, 2013

Heated litigation between oil tycoon T. Boone Pickens, Oklahoma State University's athletic development arm, and Lincoln National Life Insurance Co. over a failed charitable insurance funding scheme seems to be nearing an end —finally. On...

Hello, I must be going: Revolving door spins quickly at Nationwide

March 8, 2013

Nationwide Financial Inc. veteran Larry Hilsheimer abruptly announced his departure today as head of the insurer's retirement plan business. John Carter, previously president of Nationwide's sales arm, NFS Distributors Inc., will be stepping...

Two MetLife B-Ds on Cetera's radar

March 3, 2013

Cetera Financial Group is pursuing an acquisition of one or more broker-dealers, and industry sources say that two firms owned by insurance giant MetLife Inc. are logical targets. MetLife owns four independent broker-dealers: MetLife Securities...

Life insurance a lifesaver for college?

February 14, 2013

Parents worried about how they'll afford the soaring cost of college for their children increasingly are being steered by financial advisers in a surprising direction — life insurance. Life insurance that carries a cash balance that can be...

Premiums contribute to insurance spending boost in 2012, survey says

January 14, 2013

More than a third of Americans spent more last year to insure everything from homes, cars and boats to their own life and health. About 37% of Americans spent more on insurance in 2012, while 52% paid the same amount as in 2011 and 7% saw insurance...

Post-cliff, life insurance a tougher sell

January 3, 2013

Agents and financial advisers may have a tougher time selling life insurance this year. The American Taxpayer Relief Act of 2012, which President Barack Obama signed into law yesterday, sets the individual exemption for estate taxes at $5 million...

Florida authorities convict seller of phony life insurance

December 6, 2012

Richard M. Incandela this week was convicted of pilfering close to $490,000 from two senior citizens in Florida who thought they were buying into stranger-originated life insurance. Florida's chief financial officer said Mr. Incandela was sentenced...

MetLife B-D chief leaves company

December 2, 2012

The head of the large but quiet network of independent broker-dealers at MetLife Inc., John Brett, has left the giant insurer and been replaced — for the time being, at least — with another executive of the company. MetLife spokeswoman Meghan...

'Death put' lawyer pleads guilty to fraud charge

November 25, 2012

A Rhode Island lawyer who used variable annuities to help investors profit from the deaths of gravely ill people pleaded guilty to federal fraud charges last Monday. Joseph Caramadre, an estate- planning lawyer based in Cranston, R.I., and his...

Low-cost LTC? It's a Southern thing

November 18, 2012

Those looking for lower-cost long-term-care services might want to consider heading south. Southern and Southwestern states feature the most affordable costs for a spectrum of LTC services, including nursing homes, assisted-living facilities...

No. 2 at EBSA moves to lead stable value at Prudential

November 18, 2012

Michael L. Davis, second-in-command at the Labor Department's Employee Benefits Security Administration, has become the head of Prudential Financial Inc.'s stable-value business — sparking chatter that the insurer is gearing up for potential...

MassMutual settles for $1.6M for insufficient VA disclosures

November 18, 2012

Massachusetts Mutual Life Insurance Co. last week reached a $1.63 million settlement with the Securities and Exchange Commission related to insufficient disclosures on one of its variable annuity riders. The SEC claimed that the insurer failed...

Confirmed: Aviva seeks buyer for U.S. annuity and life ops

November 9, 2012

Aviva PLC is shopping its U.S. life and annuities business and is in talks with external parties on a deal. In statement released Thursday confirming that the company is for sale, Aviva chairman-designate John McFarlane mentioned no potential...

ING U.S. files for initial public offering as part of bailout deal

November 9, 2012

ING U.S. Inc., an insurance unit of the largest Dutch financial-services company, filed for an initial public offering as the parent company narrows its focus. Morgan Stanley (MS) and Goldman Sachs Group Inc. (GS) will lead the ING U.S. share...

MassMutual keeps payout at 7% for '13

November 4, 2012

Dividend-paying whole-life insurance is starting to shine amid abysmal rates for fixed-income investments. Massachusetts Mutual Life Insurance Co. last week said that its board approved a $1.39 billion dividend payout for next year, up more...

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