The Hartford (Conn.) Financial Services Group Inc. yesterday said that it has closed its deal to purchase Federal Trust Corp. for $10 million.
President Obama’s proposed financial regulations could tighten restrictions on insurance companies and pressure the companies’ ratings, according to a new report from Moody’s Investors Service.
The Texas Department of Insurance yesterday said that it will try to implement provisions of legislation vetoed last week by Gov. Rick Perry that was designed to protect annuity customers.
Life insurance companies are struggling to emerge from the shadows of 2008’s losses, but in the long run they will prosper, according to a study from Conning.
Russell Investments today signed an agreement with Jadwa Investments of Riyadh, Saudi Arabia, to launch the Russell-Jadwa Indexes.
The Securities and Exchange Commission today voted unanimously to propose rule changes for the $3.8 trillion money market mutual fund industry — including new liquidity requirements to prevent runs on such funds.
Stock and bond mutual funds had net inflows of $55.5 billion in May, according to a report released today by Financial Research Corp. of Boston.
The Life Insurance Settlement Association today applauded new legislation in Maine which requires that insurance customers be apprised of their rights to sell their policies on the secondary market.
Barclays iShares yesterday launched the first ETF listed in the United States that is concentrated on markets in Peru.
Bank-owned life insurance assets ballooned to $126.1 billion last year, up 5% from $120.1 billion in 2007, according to recent research from Michael White Associates.
Drug companies have pledged to spend $80 billion over the next decade to help reduce the cost of drugs for seniors and pay for a portion of Obama's health care legislation.
The Washington, D.C. multilateral lender said the world economy will shrink 2.9% in 2009 — worse than its previous forecast for a 1.7% contraction.
Disclosure of specific environmental, social and corporate governance issues was seen as the major challenge facing socially conscious investors in emerging-market companies, according to a survey of institutional investors.
The Securities and Exchange Commission is considering whether trading in over the counter derivatives should be reported like other securities transactions, SEC Chairman Mary Schapiro told a congressional subcommittee today.
Aviva PLC yesterday sold its Australian life insurance and wealth management businesses to National Australia Bank of Melbourne.
The real and potential risks of federalizing municipal-bond insurance far outweigh any potential benefits.
The federal government is the only potential guarantor whose backing would significantly lower local borrowing costs.
Investors have responded enthusiastically in recent months to government stimulus plans and signs of renewed economic activity, triggering a resounding risk rally.
