Banc One Securities Corporation of Chicago was fined $225,000 by FINRA for making the unsuitable sales.
By recruiting Perella Weinberg, the state regulator would focus on protecting the policyholders of “monoline” insurers.
Inspired by market volatility, insurance carriers are making over their equity-index annuities in an attempt to beat a bad reputation and target baby boomer investors.
Gender is a strong factor in determining the likelihood of whether a worker 50 or older receives an annuity or a company-sponsored pension payment, according to a recently released study.
Robert B. Pollock's return follows a six-month hiatus when Mr. Pollock went on administrative leave by order of the board of directors.
Insurance agents and advisers are hawking annuities without grasping the adverse impact on clients' estate plans, industry observers said.
The new benefit will go with UBS’s target retirement funds and other investment options.
John Koehler will lead a group of nine specialists, each one focusing on advanced planning techniques.
Willis Group Holdings, the London-based insurance broker, is talking takeover with Marsh & McLennan, CNBC reported.
Haier New York Life, a joint venture between the New York-based insurer and China’s Haier Group, today opened a branch in Wuhan.
Ex-AIG chief Maurice R. Greenberg and his investment firm have retained an adviser to review their stake in the insurer.
David M. Johnson, executive vice president and finance chief of The Hartford, will resign in mid-2008.
“The NAIC investigated itself with an attorney who used to work for the insurers,” said the Life Insurance Settlement Assoc. chief.
Doug Townsend has been the vice president and controller of both entities since January 2004.
The Interstate Insurance Product Regulation Commission today added two new regulators.
As managing director and head of fixed income trading, Bill Parry will oversee all fixed income traders.
The model act covers the secondary market for life insurance, including disclosures for viatical settlements brokers.
MBIA Inc. said that the SEC and the New York Insurance Department have started informal inquiries into a deal that the company made with private-equity firm Warburg Pincus LLC.
She will replace Fred Castellani, who will retire at the end of February, ending a 12-year career with the firm.
That’s a 15% decrease from the estimated $4.0 trillion issued last year, according to a SIFMA forecast.
