Massachusetts Mutual Life Insurance Co. made another round of job cuts this week in its Connecticut and Massachusetts offices, a spokesman said.
The Securities and Exchange Commission on Tuesday filed an administrative proceeding against Axa Advisors LLC for failing to supervise a former registered representative who pleaded guilty to securities fraud in January 2008.
Moody's Investors Service today said it would keep its A3 long-term issuer rating on American International Group Inc. after the insurance company reported its first quarterly profit in nearly two years.
Although first-half revenue may be down at National Planning Holdings Inc., the independent broker-dealer network has been actively adding to its ranks of registered representatives.
Jackson National Life Insurance Co., buoyed by robust sales of annuities, saw its first-half sales and deposits reach $6.1 billion, up from $5.94 billion in the first six months of 2008.
Balances in health savings accounts increased slightly in the first quarter from fourth-quarter-2008 levels, according to data from Canopy Financial Inc.
Mutual life insurance companies fared better than their stockholder-owned counterparts in the recent economic tumult, according to a report from Moody's Investors Service.
Although improving financial markets have helped lift some life insurance carriers, the firms still have a ways to go before they recover fully, according to a report from Moody's Investors Service.
Attorneys and executives at broker-dealer firms are questioning the extent of National Financial Partners Corp.'s potential liability in a civil suit involving a failed life settlement transaction at an NFP affiliate.
New, higher assessments by the Securities Investor Protection Corp. are causing ”sticker shock” at several broker-dealers, particularly independent-contractor firms.
American International Group Inc. said today director Harvey Golub will become Monday its non-executive chairman, replacing retiring Chairman Edward M. Liddy. Golub, 70, was elected to the AIG board in May 2009.
Standard & Poor's Rating Services today downgraded The Phoenix Cos. Inc., a day after the insurer reported a huge second-quarter loss.
The Financial Industry Regulatory Authority Inc. has slapped Ameritas Investment Corp. with a fine after one of its brokers encouraged clients to buy unsuitable variable universal life insurance policies to help pay for college costs and retirement.
The Ohio Department of Insurance is examining storied insurance firm Barry Kaye Associates Inc. after a civil suit on a failed life settlements transaction accused the firm of fraud and negligence.
Conseco Inc. reaped a second-quarter profit of $27.6 million, or 15 cents a share, marking its second consecutive quarter in the black.
The New York-based insurance broker and consulting firm said it lost $193 million, or 37 cents per share. It earned $65 million, or 12 cents per share, during the same quarter last year.
Although improving financial markets have helped lift some life insurance carriers, the firms still have a ways to go before they recover fully, according to a report from Moody's Investors Service.
Bank holding companies raked in $3.03 billion in insurance brokerage fee income during the first quarter, down from $3.21 billion a year earlier, according to a report.
MetLife Inc. ended the second quarter in the red, reporting a net loss of $1.4 billion, or $1.74 per share.
Annuities will continue to take a back seat to other insurance and wealth management products at Genworth Financial, according to the insurer's finance chief.
