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Fitch hikes outlook on Prudential after Wachovia Securities sale
Fitch Ratings on Monday raised its outlook on Prudential Financial Inc., citing improvements to the insurance and investment company's capital position.
Insurance commissioners put ‘suitability in annuity’ rule on hold
A new regulation that would have placed more responsibility on life insurers for producers' bad annuity sales has been delayed.
FundQuest adds Fidelity VA to platform
FundQuest has added Fidelity Investments Life Insurance Co.'s Personal Retirement Annuity to its platform, marking the first time that the Fidelity variable annuity will be available to fee-based advisers through a managed-account provider.
Sun Life adding VA wholesalers, cutting back on VA products
The broker-dealer channel is in the cross hairs of Sun Life Financial Inc. as the company aims to bolster its ranks of variable-annuity wholesalers and reach out to broker-dealers as a new channel for life insurance sales.
Third quarter indexed annuity sales jump 11%
Third quarter indexed annuity sales were up 11.3% from a year ago, but down from record sales levels in the second quarter of 2009.
Aviva eyes guarantee wrapper with managed account or 401(k)
Although Aviva USA Corp. already has an established strength in its lineup of indexed products, the insurer has its eye on the next innovation: a guarantee wrapper with a managed account or 401(k), according to chief executive Christopher J. Littlefield.
Aviva grabs new CFO, Patrick Regan, from WIllis Group
Insurance broker Willis Group Holdings said Friday Chief Financial Officer and Group Chief Operating Officer Patrick Regan will leave the company early next year to become CFO of insurer Aviva PLC.
Aviva to hit Wall Street, list on NYSE
Officials for Aviva PLC, the London-based insurer, today said it will become a listed company on the New York Stock Exchange on Oct. 20.
Aviva appoints Christopher J. Littlefield CEO
Christopher J. Littlefield has been named the chief executive of the insurance company Aviva USA.
As rules change, a watchdog growls
New accounting rules and underpriced universal life insurance are just a couple of the issues keeping Joseph M. Belth up at night.
Singapore sling: Prudential to shell out $307M for bank’s insurance unit
Prudential Plc, Britain's second-largest insurer, agreed to buy Singapore-based United Overseas Bank's life insurance unit to help expand in Southeast Asia.
Healy resigns post as NAIFA chief
John Healy has resigned his position as chief executive of the National Association of Insurance and Financial Advisors, the organization announced today.
Federal pay limits create storm at AIG
American International Group Inc. chief executive Robert H. Benmosche's reported threat to quit two weeks ago — and subsequent pledge to continue his work at AIG — sets the stage for a battle over pay curbs while underscoring the enormous challenges AIG still faces, observers say.
AIG CEO Robert Benmosche tells employees he plans to remain CEO
American International Group Inc. has released a letter Benmosche sent to employees Wednesday following a Wall Street Journal report that said he was threatening to quit. The Journal said Benmosche has been frustrated by heavy government oversight and cumbersome restrictions on executive pay.
MassMutual cuts additional 160 workers
Massachusetts Mutual Life Insurance Co. announced another series of terminations this week, cutting back 160 posts in its Enfield, Conn., and Springfield, Mass., offices.
Life settlement firms that hit skids could hurt policy sellers
A recent bankruptcy protection filing by a provider of life settlements raises concerns that consumers in the midst of selling a policy, as well as investors, may get a raw deal in this and similar situations.
Feds want to get their hands on life settlements, observers say
As states propose and pass rules for oversight of life settlement transactions, industry participants wonder just how far the Securities and Exchange Commission will reach into the market to provide uniform guidance on disclosure and broker registration.
Insurance industry players, regulators meet to discuss life settlement
State insurance and securities regulators yesterday appealed to members of the Senate for tougher oversight of life settlement transactions in order to curb abuse of senior citizens.
MetLife survey of consumers shows confusion over paying for long-term care
Although Americans are aware of the debilitating costs of long-term care, few seem to understand how to pay for those services, according to a study by MetLife Mature Market Institute.
John Hancock eyes launching actively managed ETFs
John Hancock Funds LLC will file with the Securities and Exchange Commission in the next few weeks plans to launch actively managed exchange-traded funds, according to an official at the firm.
