Standard and Poor’s Ratings Services today hit Massachusetts Mutual Life Insurance Co., New York Life Insurance Co. and TIAA-CREF with negative ratings actions.
The Financial Industry Regulatory Authority Inc. yesterday adjusted its variable annuity suitability rule, releasing the final version of the much-debated Rule 2821. Originally, the rule had four major components.
Aquiline Capital Partners LLC has purchased Conning & Co., the research, consulting and asset management firm, from Swiss Reinsurance Co. Ltd.
Gross domestic production declined nearly 10 percent in the first quarter and the government predict it will decline by 6 to 8 percent this year.
Because the insurance industry has grown to $6.3 trillion in assets under management and $1.2 trillion in annual premiums, the regulations that govern the industry need to be modernized, according to House Capital Markets Subcommittee Chairman Paul Kanjorski, D-Pa.
Goldman Sachs Asset Management, a unit of The Goldman Sachs Group Inc., has launched a fund designed to help investors take advantage of the fast-changing credit markets.
Hedge funds gained 5.77% in May and 10.75% for the year through May 31, according to research from BarclayHedge.
The Commerce Department said Tuesday that construction of new homes and apartments jumped 17.2% to a seasonally adjusted annual rate of 532,000 units.
American International Group Inc. and its former chairman and chief executive, Maurice “Hank” Greenberg, have a court date today related to a fight over a block of AIG shares that was sold for $4.3 billion.
Mutual fund and ETF investors invested more than $55 billion in stock and bond funds last month, marking the second straight month of $50 billion plus in net inflows to long-term funds,
Sun Life Financial Inc. today said that it will buy Lincoln National Corp.’s business in the United Kingdom for about $318.6 million.
The British Bankers' Association said the rate on three-month loans in dollars — known as the London Interbank Offered Rate, or Libor — was down 0.01 of a percentage point to 0.61 percent.
Standard and Poor’s Ratings Services has raised its outlook on TARP recipients The Hartford (Conn.) Financial Services Group and Lincoln National Corp.
More than two dozen industry and association representatives will weigh in on whether target date funds need to be redesigned at a June 18 hearing with the Securities and Exchange Commission and the Department of Labor.
The company, which markets itself under the name Lincoln Financial Group, said it will accept as much as $950 million in capital as part of the government's $700 billion TARP program.
The Reserve Primary Fund, which had $4.5 million in assets as of June 10, had total expenses of $16.6 million from Sept. 15 through June 10, which included $15 million in management fees, according to a statement issued by The Reserve Management Co. Inc. last week.
The “liquor indicator” is showing that consumers are still worried about losing their jobs.
Wary investors have been steadily moving assets out of safe — but incredibly low-yielding — money market mutual funds in significant numbers since the U.S. markets bounced off of their lows in early March.
As new annuity rules continue to develop, chief compliance officers at broker-dealers say that they still face some challenges in implementing compliance procedures with their financial advisers.
As Congress takes up health care reform, too little attention is being paid to long term care.
