An Ohio man has sued life settlements and insurance guru Barry Kaye's firm, alleging that the firm encouraged him to buy a $5 million life policy and left him hanging when it couldn't find a buyer on the secondary market.
Investors bought more exchange traded funds in the first half of this year than in the comparable time period in 2008, according to Strategic Insight Mutual Fund Research and Consulting LLC.
The Commodity Futures Trading Commission is mulling setting position limits on physical commodities and is questioning whether swaps dealers should remain exempt from position limits.
Investors poured $11.05 billion into mutual funds for the one-week period ended July 22, according to the ICI.
The Hartford (Conn.) Financial Services Group Inc. booked a $15 million loss, or 6 cents per share, for the second quarter.
Commercial and personal property insurer Travelers Cos. said today that lower investment income and underwriting profit drove its second-quarter earnings down 21 percent.
Health insurer Cigna Corp. said today its second-quarter profit jumped 60 percent on a more favorable interest rate and other items, but enrollment fell 7 percent.
There is a disconnect between how some of the largest mutual fund firms' brands are perceived by many advisers and the actual performance of the funds, according to a recent survey conducted by Cogent Research LLC of Cambridge, Mass.
Two private-equity firms with strong ties to retail broker-dealers are the final bidders for the AIG Advisor Group — the network of broker-dealers that houses about 6,000 independent registered reps and investment advisers — and a winner could be determined in the next several days, according to sources.
Hedge funds' recent poor performance, along with a sluggish economy, has finally given investors the upper hand in negotiating fees on these historically high-priced alternative investments.
Craig Raymond has joined John Hancock Financial Services Inc. as its new chief risk officer and chief actuary, effective immediately.
Insurer Conseco said expects to post a profit in the second quarter because of a much smaller investment loss.
Insurer American International Group Inc. said on today that it closed the sale of its life insurance premium finance business for $679.5 million in cash.
Jitters about the U.S. economy are putting the stock market rally on hold again.
Members of Congress are being urged to create — at a minimum — a new regulatory body within the federal government to focus on the insurance industry.
The current pace of growth in the defined contribution arena could tilt the majority of mutual fund ownership to institutional investors by 2012, according to a report released late yesterday by Cerulli Associates Inc.
Adults 55 to 64 were most likely to have health care coverage in 2007, according to a study from the Employee Benefits Research Institute.
Kermitt J. Brooks, acting insurance superintendent for New York, today was named the chairman of the National Association of Insurance Commissioners' life and annuities committee.
Prices of government bonds fell today ahead of another round of Treasury auctions as traders worried that the latest issues might be met with weak demand.
Though fewer catastrophe bonds were issued during the first half of 2009, investors may see more of these issuances in the second half of the year as the financial markets stabilize, according to a report from Guy Carpenter & Co. LLC and GC Securities, both of New York.
