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Deconstructing AIG: Insurer to sell its Asian ops to Prudential PLC for $35.5B
The quest for cash continues, as the besieged company agrees to sell off its Asian unit to Prudential PLC for $35.5B. The next to go? Ask MetLife.
VA assets surged in 4Q – but sales dwindled
Variable annuity assets climbed to $1.35 trillion in the fourth quarter — thanks in large part to the recovery in the stock market.
Little life in individual-life-insurance sales in 2009
New annualized premiums for individual-life-insurance policies were down in the fourth quarter and for the full year of 2009, with the most dramatic declines hitting variable universal life, according to LIMRA.
Insurers dead set against life settlement securitization
Industry group worried that securitization would encourage promoters to entice seniors to sell their life insurance policies, even when it's not in their best interests to do so.
Brokers push to put annuities into planning framework
In an attempt to pull further away from the transactional nature of annuity sales, brokerage executives are using tools to help their advisers fit product sales into a planning context.
Allianz Life’s MasterDex X still top of the indexed-annuity heap
Sales of the popular indexed annuity helped Allianz maintain its place as the top seller of IAs.
Allianz puts kibosh on LTC product
Allianz Life Insurance Company of North America is pulling its stand-alone long-term-care insurance product off the shelves, effective Friday, according to an announcement the company made internally and to its distribution partners.
Allianz to delist from NYSE, other exchanges
German insurer Allianz SE said Tuesday it will abandon its listing on the New York Stock Exchange, and…
Banks get a boost from annuities, with Wells Fargo leading the way
Fee income from annuity sales climbed at bank holding companies during the first three quarters of 2009, according to data from Michael White Associates LLC.
In a first, influential legislator looks to preserve secondary market for death benefits
Kentucky state rep – and head of national group of legislators – introduces bill that would preserve right to resell benefits
Nationwide to pay $2.1M in variable annuity settlement
Nationwide Life Insurance Co. has reached a $2.1 million settlement with five state insurance regulators over nine-year-old claims involving allegedly unsuitable variable annuity sales. The five states are California, Kansas, Minnesota, Missouri and Wisconsin.
Crandall promoted to CEO at MassMutual
Roger W. Crandall was named CEO of Massachusetts Mutual Life Insurance, effective Jan. 1, confirmed MassMutual spokesman Mark Cybulski.
MassMutual shuts down its retirement income unit
Almost five years after Massachusetts Mutual Life Insurance Co. entered the retirement income market, the firm has shut…
MassMutual’s field force hits milestone
MassMutual on Wednesday announced that its field force has grown to more than 5,000 representatives, a record level for the 158-year-old insurer.
MassMutual sues alleged Ponzi schemer over life insurance
Massachusetts Mutual Life Insurance Co. has taken alleged Ponzi schemer Scott Rothstein to court in an attempt to rescind a $15 million life insurance policy.
Slimmer variable annuities attract thin following
Despite the market's lukewarm reception to John Hancock's slimmed-down variable annuity, other insurers continue to introduce competing products aimed at financial advisers who have usually sidestepped such VAs.
ING to sell stripped-down VA with stripped-down commission
ING plans to replace its traditional variable annuity offering with a simplified VA product that comes with a scaled-back commission.
Guggenheim adds to collection
Guggenheim Partners LLC, an investment firm founded by the famous family for which it is named, said last week that it is acquiring Security Benefit Corp. — and with it Rydex SGI.
Spotlight on VAs
The humble variable annuity is gaining in popularity
The last laugh
For most investors, not having access to their money is a drawback.
