Agents and advisers are overlooking an opportunity for new life insurance sales: the middle market and minorities, said Catherine H .Smith, chief executive officer of U.S. insurance at ING North America Insurance Corp., in Atlanta.
“Ultimately, the consumer ought to benefit from greater regulation, provided that we heed the lesson of the current crisis,” said Christopher “Kip” Condron, president and chief executive of AXA Financial Inc. in New York.
Several prominent hedge fund managers hinted that better regulation of the hedge fund industry is a good idea, but stopped short of endorsing stricter oversight.
Egregious risk taking in the name of impressive earnings has led to massive losses in the insurance industry, and now carriers need to think realistically about their pricing models and investments, executives said at a conference today.
Legislation requiring hedge funds to register with the Securities and Exchange Commission will be reintroduced by the ranking minority member of the Senate Finance Committee.
The controversial proposal would move most EIAs from the status of insurance products, which are regulated only by states, to that of securities, which are federally regulated.
Despite vehement objections from state regulators, Conseco Inc. yesterday completed its transfer of a group of long term care policies to an independent trust.
Rydex Investments of Rockville, Md., today announced that shares of its exchange traded trust, CurrencyShares Russian Ruble Trust (XRU), will begin trading today. An exchange traded trust is similar to an exchange traded fund.
Foreclosure activity rose 25% in October from the same period a year ago, according to the latest data from RealtyTrac Inc. of Irvine, Calif.
Virtually all senior hedge fund managers expect increased regulation for the alternative-asset-management industry under President-elect Barack Obama’s future administration, according to a study released today.
The price-to-sales ratio for the 30 companies that comprise the Dow is at its lowest point since 1996, making this a great time to get nto the market, said Neil Hennessy, CIO and portfolio manager for Hennessy Mutual Funds.
The seized-up credit markets and economic uncertainty will take a toll on commercial real estate for the next few years, with rents and occupancy falling until at least the first half of 2010, said Bob Bach, chief economist with Grubb & Ellis.
The New York Federal Reserve Bank on Nov. 24 will begin funding five special-purpose vehicles to finance the purchase of certain assets from money market mutual funds through its Money Market Investor Funding Facility program.
October was another tough month for hedge funds, as the ripple effects of the global credit crunch continued to force managers to unwind portfolio positions.
Under orders from a federal judge, Bear Stearns has paid $27.3 million to the now-defunct National Heritage Life Insurance Co., which lost money invested with Bear on collateralized mortgage-backed obligations and collateralized debt obligations.
Van Kampen Funds Inc. today announced the launch of the Van Kampen Retirement Strategy Funds, a new series of target date funds.
The Fed and the Treasury announced a new restructuring plan to help bolster AIG, including a $40 billion purchase of new preferred shares from the ailing insurer.
Analysts applauded the newly restructured bailout plan for American International Group Inc., citing benefits for the insurer.
That, of course, is cold comfort to investors in those funds.
