The Munich, Germany-based insurer said net profit in the January-March period was €29 million ($40 million) compared with a profit of €1.15 billion in the first quarter of 2008.
Banks that sold insurance last year reaped higher profits than those that didn’t, according to a study from the Bank Insurance Market Research Group.
Home prices fell in nearly nine out of every 10 U.S. cities in the first quarter of this year as first-time buyers looking for bargains dominated the market.
The government's unprecedented "stress tests" of the 19 largest U.S. banks should bolster Americans' battered confidence in U.S. banking system, Federal Reserve Chairman Ben Bernanke said today as he defended the rigor of the exams.
More than $24 billion in additional estate taxes would have to be paid from fiscal 2010 to fiscal 2019 under a budget proposal for the next fiscal year released Monday by the Obama administration.
Great-West Lifeco Inc., the Winnipeg, Manitoba-based parent company of Putnam Investments of Boston, is looking for acquisition opportunities among U.S. and British life insurance companies, president and chief executive Allen Loney told the Globe and Mail newspapers of Toronto.
Investors pulled $87.6 billion out of stock, bond, mixed-equity and money market mutual funds in March, the highest net redemption total since September 2008, according to a report released today by New York-based Lipper Inc.
The Internal Revenue Service has delivered two revenue rulings to help determine the tax hit on life settlements.
Hedge funds gained almost 4% in April, but failed to keep pace with the surging broad market indexes.
The average yield for money market mutual funds hit a record low in April, according to Crane Data LLC.
Turner Investment Partners Inc. today announced the launch of a mutual fund that will invest in six long-short equity strategies.
A prominent lawyer accused of defrauding hedge funds of at least $400 million is expected to plead guilty Monday to charges that carry a potential sentence of decades in prison.
Safety reigns supreme this year, with managers of long-duration and government bond strategies taking six of the top 10 spots in Morningstar Inc.'s database of separate accounts and collective investment trusts for the year ended March 31.
Equity managers overall got a boost at the end of the first quarter, thanks to the March rally, but the firms at the top of the performance charts for the 12-month period ended March 31 were those that followed non-traditional strategies, according to Morningstar Inc.'s database of separate accounts and collective investment trusts.
Sales of mutual funds through brokers and financial advisers continued to shift toward fee-based compensation last year, while the trend toward fee-for-advice distribution accelerated, according to a study released last week by Strategic Insight Mutual Fund Research and Consulting LLC.
Executives of Neuberger Berman Group LLC, now running the $155 billion money manager as an independent firm, plan to share some of their institutional-only investment strategies with investment advisers and individuals for the first time.
Led by the iShares exchange traded fund group, exchange traded funds are poised to break the stranglehold that mutual funds have on 401(k) retirement plans.
Some industry observers are questioning whether an endowment model of investing — as popularized by the Yale University endowment fund — should be used for individual investors.
Employees don't understand target date funds, and that could spell trouble for employers.
Insurers are rolling out adjustments to their variable annuity products — this time with an air of caution.
