Results for "life insurance"

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Something new to insure against: Longevity

October 7, 2012

Amid all the cooling in the annuity development industry, one area is picking up steam: deferred-income annuities, or longevity insurance. Last Monday, Northwestern Mutual Life Insurance Co. announced the release of its Select Portfolio Deferred...

Hartford deals individual-life unit to Prudential as sell-off continues

September 27, 2012

The Hartford Financial Services Group Inc. has whittled away yet another of its businesses, this time selling off its individual-life-insurance business to Prudential Financial Inc. In an announcement late Thursday, the insurers announced that...

Facing possible estate tax, investors stick to sidelines

September 25, 2012

About 15 million households soon could end up with estate tax liabilities, but many wealthy individuals in this scenario are not yet putting plans in place to minimize them. Today, individuals are allowed a $5.12 million federal estate tax exemption,...

Protection gap is widening

September 16, 2012

Just as the markets plummeted amid the recession, so did life insurance coverage among American families. In 2010, families whose primary breadwinner was under 55 had $32 in net assets and life insurance in place for every $100 of protection...

$400M sale to let Hartford retire from retirement biz

September 9, 2012

The Hartford Financial Services Group Inc. is selling its retirement plan business to Massachusetts Mutual Life Insurance Co. for $400 million as part of a restructuring it embarked on this year. “The agreement marks the second of three planned...

Life insurance agent accused of scamming Lincoln, N.Y. Life

July 26, 2012

The U.S. Attorney's Office in Baton Rouge, La., on Wednesday charged life insurance agent Timothy R. Schlatre with mail fraud, money laundering and asset forfeiture for his alleged role in a life insurance scam. The resident of Denham Springs,...

Life insurance guidelines could tie captive agents' hands

July 22, 2012

Life insurance agents who are limited to selling proprietary products may find it difficult to meet a fiduciary standard as it is being defined by a task force helmed by a fiduciary advocate. The first draft of the guidelines was developed in...

T. Boone Pickens, Okla. State strike out again

June 21, 2012

For a second time, Oklahoma State University and T. Boone Pickens find themselves on the losing end of a court battle to recoup $33 million in a failed fundraising plan that involved insurance policies covering the lives of donors. A decision...

Carriers bet on life insurance in place of annuities

June 17, 2012

With low interest rates and volatile equity markets slowing annuity sales, insurance companies think that life insurance will be their next hot revenue generator. And they expect financial advisers to help carry out their plans. “The huge...

Life insurance — not annuities — is the next area for growth: Insurance execs

June 6, 2012

The next frontier for sales growth isn't annuities but life insurance. That was the conclusion reached by life insurance chief executives on a panel at an insurance industry conference hosted by Standard and Poor's this morning in New York....

Jackson National to buy Swiss Re's U.S. life business

May 31, 2012

Jackson National Life Insurance Co. will pay $621 million in cash for the life insurance assets of Swiss Re Group's American division to boost its scale in that business and further diversify earnings from its primary annuity business. The deal...

MetLife trims VA offerings

May 27, 2012

MetLife Inc., following other major variable annuity providers, plans to trim its VA offerings in an effort to decrease its risk and increase profitability. The Hartford Financial Services Group Inc., ING Groep NV and Sun Life Financial Inc....

Choli rollers: Aviva to settle charges in alleged church insurance scam

May 25, 2012

Aviva Life & Annuity Co. is settling charges against a group of insurance agents who allegedly sold coverage to some 131 church members under false pretenses. The settlement notice, filed May 10 in the U.S. District Court for the Central District...

Genworth's Joelson steps down from running $75B portfolio

April 30, 2012

Genworth Financial Inc., the mortgage guarantor and life insurer, said Chief Investment Officer Ronald Joelson is leaving the company to join Northwestern Mutual Life Insurance Co. in the same role. Daniel Sheehan was promoted to oversee the...

MetLife to pay $500M to settle death benefit probe

April 23, 2012

MetLife Inc., the largest U.S. life insurer, will pay about $500 million in a multistate settlement after regulators reviewed whether companies were holding funds that should go to beneficiaries. MetLife said $188 million will be paid in 2012,...

After bailing on annuities, The Hartford looks to pump up its mutual funds

March 29, 2012

Despite throwing in the towel on several of its operations, executives at The Hartford Financial Services Group Inc. think the carrier can increase its mutual fund assets by double digits annually. And that's a big part of the reason why the...

Edward Jones pulls plug on Hartford life, annuity sales

March 26, 2012

The Hartford Financial Services Group Inc.'s announcement that it is restructuring its business is less than a week old. But one of the carrier's major distributors has already decided to hold off on selling the company's life and annuity products...

The Hartford's annuity exit a shocker for advisers

March 21, 2012

Advisers and annuity researchers alike were surprised by Hartford Financial Services Group Inc.'s announcement today that it was retreating from the annuity space. The exit was so quick, that as late as last week, Hartford's wholesalers were...

The Hartford does 'something drastic,' will exit annuity and life insurance businesses

March 21, 2012

Hartford Financial Services Group Inc. (HIG), the insurer being pressed by hedge-fund manager John Paulson to break up, will stop selling individual annuities and seek buyers for parts of the life-insurance unit. Hartford will focus on property...

Stillwater runs dry as OSU, Pickens come up empty in insurance battle

March 13, 2012

After a lengthy court battle, Lincoln National Life Insurance Co. will be permitted to keep $33 million in life insurance premiums it collected from an Oklahoma State University athletic fund program that eventually went bust. A March 9 decision...

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