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SEC task force: Life settlements should be defined as ‘securities’
An SEC task force on Thursday recommended that life settlements be defined as 'securities,' thus making such transactions subject to federal securities laws.
AllianceBernstein looking to add financial advisers this year
AllianceBernstein Holding LP demonstrated enough progress in some businesses last year that the company plans to add advisers in 2010 and may buy smaller complementary firms, executives said late Thursday during an earnings conference call.
An easier pill to swallow
In his early 60s and at the doorstep of retirement, Robert Neiswanger was considering long-term-care insurance. He acknowledged that the coverage made sense, but he couldn't come to terms with paying for something he might never need.
States pitted against federal regulators over life settlements
A recommendation by an SEC task force that life settlements be treated and regulated as securities has raised concerns that another turf battle may be brewing between state insurance regulators and federal securities cops.
AIG-free branding helps push Western National past FA rivals
Western National Life, an AIG Inc. subsidiary, emerged as the top fixed-annuity seller in the bank channel during the third quarter of 2009, displacing rival New York Life Insurance Co., according to data from Beacon Research Publications Inc.
‘Mannywood’ out, John Hancock in at Dodger Stadium
Star slugger's sign in left field replaced by ad for insurer
AIG agrees to pay $725M to investors in settlement
American Insurance Group Inc. and some of its directors and officers have agreed to a $725 million settlement to resolve allegations of wide-ranging fraud laid out in a class action suit led by three Ohio pension funds.
AIG’s financial condition is stable, GAO report says
American International Group Inc.'s financial position remains relatively stable, according to a report released last week by the Government Accountability Office.
Firms still enhancing target date funds
Despite a tepid response from plan sponsors, asset management firms continue to develop and promote annuity-enhanced target date funds, insisting that demand for retirement income will spur interest.
MetLife will pay $13.5M to end probe of ‘improper’ broker payments
MetLife Inc., the biggest U.S. life insurer, agreed to pay the government $13.5 million to resolve an investigation into “improper” payments to a San Diego-based broker that sold the company's coverage.
Insurance regulators to probe annuities sold to third parties
Insurance regulators state legislators plan to tackle the thorny issue of insurable interest with regard to annuity sales, preparing the groundwork for changes that could discourage stranger-originated-annuity transactions.
Will states crack down on stranger-originated annuities?
These investments — wherein a third party purchases an annuity with a death benefit and assigns a sickly person as the annuitant — came up at the group's 2010 Spring Meeting this week.
Goldman Sachs abandoning life settlements market
Goldman Sachs Group Inc. has retreated even further from the life settlements arena, shutting down Longmore Capital, its life settlements provider, according to reports.
Life insurance sales boom in first quarter
Shaken by the recession and concerned about risk, brokerage firm clients are buying life insurance.
Expanded wealth management platform in the works at The Hartford
Insurer looks to branch out with new products aimed at affluent customers, business owners
SEC inquiry sacks home health stocks
Shares of home health providers sank Wednesday as an investigation into the industry's Medicare reimbursement practices expanded.
Indexed-annuities amendment: Insurers yea, advisers nay
Congressional committee approval late last week of an amendment to the financial-reform bill maintaining state regulation of equity-indexed annuities drew mixed reaction, with insurers cheering the action and advisers largely opposing it.
Nationwide latest to sweeten its VA benefits
Nationwide Financial Services Inc. last week bumped up its variable annuity living benefits, signaling a return — for some carriers — to the generous benefits that backfired on insurers when the stock market imploded in 2008.
Committee votes to keep states in charge of indexed annuities
The proposal clarifies that the funds are insurance products that should be overseen by states rather than securities that should be regulated by the Securities and Exchange Commission.
Senate conferees approve Harkin amendment on equity-indexed annuities
Mr. Harkin's amendment would clarify that these funds are insurance products that should be overseen by states rather than the Securities and Exchange Commission.
