Nationwide Life Insurance Co. has reached a $2.1 million settlement with five state insurance regulators over nine-year-old claims involving allegedly unsuitable variable annuity sales. The five states are California, Kansas, Minnesota, Missouri and Wisconsin.
Home and auto lender GMAC Financial Services said Thursday it lost $5 billion in the last three months of 2009, as losses from its mortgage operations kept the company in the red for another quarter.
The battle for brokers, which led scores of reps to hop from one wirehouse to another in early 2009, came to a grinding halt at end of the year — a development that could last for years, according to James Gorman, new chief executive at Morgan Stanley & Co.
As the rest of the investment world gravitates toward red-hot emerging markets, Abhay Deshpande, co-manager of First Eagle Global Fund, is asserting that Japan actually may be the place to invest.
InvestmentNews today announced the winners of its inaugural Adviser's Choice Awards, which honor financial advisers' top picks for the most outstanding companies and portfolio managers in the mutual fund industry.
You need to be prepared to reassure nervous clients with sound advice and analysis.
First-quarter fixed-annuity sales in the U.S. were down 52% from the year-ago period, falling to an estimated $16.7 billion.
Insurer's new boss said the Connecticut company will avoid focusing on any one product after VAs contributed mightily to two straight years of losses
Volume from life settlements transactions is expected to reach $13 billion in face amount annually over the next three years, according to research from Aite Group.
Goldman Sachs Group Inc. said Thursday it earned $4.79 billion in the fourth quarter as the bank's trading business again outdistanced the rest of the financial industry.
