Two John Hancock Life Insurance affiliates have received regulatory approval in Massachusetts to merge into another company entity.
Total sales of life insurance plummeted during the second quarter, falling 20% from a year earlier, according to a report from LIMRA International.
The Hartford Mutual Funds today reopened the $185.2 million Hartford MidCap Value Fund (HMVAX) to new investors in an effort to capitalize on new investment opportunities and offset outflows.
Shares of MetLife Inc. slipped today after a Raymond James analyst downgraded the insurer, citing the company's overvalued stock price.
Insurance companies said yesterday it was too soon to determine how much they would have to pay for claims from wildfires that have already burned more than 80 homes in California and threatened thousands more.
Overall sales of fixed annuities hit $27.8 billion during the second quarter, up 10% from a year earlier but down 20% from the first quarter this year, according to data from Beacon Research Publications Inc.
Another $30 billion in three-month bills were auctioned at a discount rate of 0.150 percent, down from 0.165 percent last week. That rate was the lowest since 0.135 percent on April 30.
Third Avenue Management LLC of New York today launched a mutual fund that is able to invest in a mix of credits, including bank loans, and high-yield and distressed debt.
The Missouri insurance department has sued Central United Life Insurance Co. for allegedly dodging claims from clients with cancer.
Shares of KKR Financial Holdings LLC rose today after Janney Montgomery Scott Securities analysts upgraded the real estate investment trust to "Market Outperform" from "Market Perform," saying the company's management has improved liquidity and it may restore its dividend soon.
Squeezed by rising bank failures and alarmed by its shrinking insurance fund, the Federal Deposit Insurance Corp. has made it easier for private-equity investors to buy failed institutions, but one prominent analyst believes that the move could lead to even more shuttered banks.
A widow yesterday filed an arbitration claim with the Financial Industry Regulatory Authority Inc. against Ameriprise Financial Services Inc., alleging that a broker there failed to properly advise her aged husband on a variable annuity purchase and botched a beneficiary designation.
New U.S. home sales surged 9.6 percent in July, rising for the fourth straight month and beating expectations as the housing market marches steadily back from its historic downturn.
About 20% of the defined contribution plans administered by The Vanguard Group Inc. had adopted automatic enrollment by the end of last year, up from just 5% three years earlier, according to a recent study by Vanguard.
The idea of regulating the money market mutual funds as if they were banks could be detrimental to the $3.6 trillion industry, observers said today after former Federal Reserve chairman Paul Volcker called for tighter reins on the funds.
Variable annuities, whose sales and asset levels slumped during the market downturn, showed signs of a comeback in the second quarter, according to data from the Insured Retirement Institute.
Home prices across most of the U.S. have started to rise from the depths of the housing slump, a pivotal trend that will help stabilize the broader economy, according to new figures released today.
Money market mutual funds would benefit from a federal program to guard against the risk of illiquidity in the markets, analysts yesterday at the first Money Fund Symposium in Providence, R.I.
Though rep recruitment is up at the John Hancock Financial Network since the firm decided to embrace the independent adviser channel, recruiters remain skeptical as to whether independents will continue to flock to the company.
It is not the first exchange traded fund to invest in Treasury Inflation-Protected Securities, but the TIPS ETF launched today by Pacific Investment Management Co. of Newport Beach, Calif., may quickly become the fan favorite, according to a Morningstar anaylst.
