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Aon to buy reinsurance broker for $1.75B
Aon Corp., the world’s largest insurance broker, will acquire Benfield Group for $1.75 billion.
Penn Treaty backs off LTC policies
Penn Treaty American’s reinsurer has withdrawn its agreement to back long term care policies written by two subsidiaries.
Marsh & McLennan appoints new CFO
The New York-based firm has chosen Vanessa A. Wittman as its new finance chief and executive vice president.
LIMRA adds member to compliance team
Limra International Inc. today added Lawrence J. Niland to its compliance and regulatory services division.
Hybrids will drive retirement income
Products that combine equity exposure, income generation and volatility protection may grow more popular among advisers, according to a retirement product executive.
Conseco to turn LTC unit into indie trust
Conseco said that it plans to transfer Conseco Senior Health Insurance, its long-term care unit, to an independent trust.
Alabama insurance commish to step down
Walter A. Bell, Alabama’s insurance commissioner, announced that he will step down at the end of the month.
Strapped Americans scrimping on insurance
Many are cutting back on medical care to cope with rising costs and a worsening economy, according to NAIC.
Lieberman named CEO of Hartford Life Ltd.
The Hartford Financial Services Inc. today appointed Marc Lieberman president and chief executive of Hartford Life.
Berkshire slumps, MBIA back in black
Berkshire Hathaway reported net earnings declined to $2.88 billion from $3.12 billion a year ago.
Variable’s loss is fixed’s gain
Because of slumping second-quarter sales of variable annuities, industry observers believe fixed annuities could benefit.
Principal report focuses on retirement income
The Principal Financial Group has released a white paper that examines the four methods of providing retirees with income.
Marsh & McLennan profits plunge 63%
Marsh & McLennan Cos. of New York reported that its second quarter profit fell 63%to $65 million, or 13 cents per share.
Gabelli to raise $200M for buyouts
Mario Gabelli plans to raise $200 million to buy a financial services, media or telecommunications company.
Finra floats VA marketing reform
Clients would be urged to obtain a personalized hypothetical illustration, revealing all applicable charges and fees.
The Hartford’s VA assets fall in 2Q
The Hartford Financial Services Group's second-quarter profits fell to $543 million or $1.73 per diluted share.
Insurance groups clash over regulation
Insurance industry representatives and regulators could not agree on moving ahead with comprehensive reform legislation.
Allianz taps new CFO
Allianz Life Insurance Company of North America of Minneapolis today named Giulio Terzariol chief financial officer.
United Healthcare hit with hefty fine
The insurance company will pay $786,655.87 as part of a settlement with the North Carolina insurance department.
Long term care issues addressed at hearing
Consumer protections and state partnership arrangements with insurance companies were among the topics.
