Results for "life insurance"

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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...

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...

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...

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...

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...

MassMutual sets 7% payout for '13, showing up fixed income

October 29, 2012

Dividend-paying whole-life insurance is starting to shine amid today's abysmal rates for fixed-income investments. Massachusetts Mutual Life Insurance Co. today announced that its board of directors approved a $1.39 billion dividend payout in...

Nationwide decides to sign, settles death benefits probe

October 12, 2012

Nationwide Financial Services Inc. has settled charges that it mishandled unclaimed life insurance death benefits. The settlement, which was led by the Florida Department of Financial Services and six other states, requires Nationwide to begin...

Seeking fee boost, MetLife to run money for big investors

October 9, 2012

MetLife Inc. (MET), the largest U.S. life insurer, said it will add asset management for institutional investors as part of Chief Executive Officer Steven Kandarian's push to expand fee income. The insurer, with more than $500 billion in its...

Advisers tread lightly when talking with clients about LTC

October 7, 2012

Financial pressures weighing down the long-term-care insurance industry are forcing advisers to broach the touchy subject of higher premiums and less comprehensive benefits with clients. Companies that sell LTCI coverage are feeling the stress...

The Hartford makes 180-degree turn with reorganization

October 7, 2012

The recession has forced a makeover of sorts at The Hartford Financial Services Group Inc., where financial advisers are contending with a significantly different insurer than they did five years ago. In its most recent move to divest assets,...

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