Insurer Old Mutual PLC reported Wednesday a 30 percent drop in 2008 profits as its U.S. Life unit made a large loss, hurt by the collapse of financial institutions such as Lehman Brothers and Freddie Mac and Fannie Mae.
The Obama administration is kicking off a new program designed to help up to 9 million borrowers stay in their homes through refinanced mortgages or loans that are modified to lower monthly payments.
Smith Barney's exclusive deal with Legg Mason to distribute funds run by Bill Miller has come to an end.
Citigroup Inc. said Tuesday that it will lower mortgage payments for some homeowners for three months as part of a new program to help the unemployed.
T. Rowe Price Group Inc. has restructured its equity leadership, elevating two top portfolio managers into new posts overseeing domestic and international equities.
Fitch Ratings is putting off a review of its municipal ratings program because of the economic downturn.
A consortium of RIAs is “actively looking elsewhere” for custodial partners after Charles Schwab said it would stop accepting custody of alternative investments.
The number of people signing contracts to buy homes tumbled to a new low in January.
Investors yanked about $147 billion from hedge funds worldwide in the fourth quarter of 2008, a 689% decline from the third quarter.
The Ohio Department of Insurance today released the names of the 20 companies that have raised their surplus levels through approved accounting breaks.
Investors worldwide pulled money out of stock funds last week at levels last seen in mid-October.
Conseco Inc. today announced a whopping $406.8 million loss, or $2.20 a share, for the fourth quarter of 2008, and warned it will be late in filing its annual report late.
Ratings agencies today painted a bleak outlook for AIG, following news of the insurer’s massive fourth-quarter loss and an additional $30 billion lifeline from the U.S. government.
Harbor Funds of Chicago launched a new global fund to its lineup today.
Publicly traded asset management companies tend to lead market recoveries, but the fast and brutal decline in mutual fund assets makes the firms' ability to front a recovery doubtful.
Panelists addressed myriad issues at the annual marketing conference held in New York by NAVA Inc., the Reston, Va.-based variable annuity trade association.
Neither investors nor their advisers are feeling particularly positive these days, according to research conducted by OppenheimerFunds.
Fears of increased paperwork and disclosures related to Finra's variable annuity suitability rule have been realized, with many firms reporting that they are still overburdened by hair-splitting requirements.
Standard and Poor’s yesterday announced ratings downgrades for 10 major life insurers, including Genworth Financial Inc., Lincoln National Corp. and MetLife Inc.
