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Gallagher buys consulting group
The Lance Group specializes in school boards and municipalities and handles benefit plan analysis as well as design.
AIG’s Sullivan shown the door after meeting
Martin J. Sullivan, CEO of American International Group, has been ousted from the New York-based insurer.
NAIC soon to consider working group on annuity disclosure
Supporters of simplified disclosures for variable annuities may get a boost from a proposal that state insurance regulators will soon consider.
VA sales hit $41.6 billion in first quarter
Net assets in variable annuities have also risen, reaching $1.39 trillion, compared to $1.38 trillion in the first quarter of 2007.
Big quarter for bank insurance brokerages
First-quarter earnings hit $1.07 billion, the second highest level ever, a gain of $993.3 million from a year ago.
AIG may hold emergency meeting on CEO
American International Group could hold an emergency meeting this weekend to discuss the future of chief executive Martin J. Sullivan, CNBC reported Friday.
Lucido chosen as Mass Mutual’s CCO
Massachusetts Mutual Life Insurance has picked Bradley J. Lucido as its chief compliance officer.
Legislators backs federal insurance regulator
A proposed Office of Insurance Information would just be the first step toward creating a federal insurance regulator.
Study: Ranks of underinsured have swelled
Some 25 million U.S. adults with health insurance in 2007 faced financial stress due to insufficient coverage.
Brokers, insurers juggle hot potato of VA suitability
Both brokers and insurers bear responsibility for the suitability of variable annuity sales, but at different points in the sales process, industry officials said at a conference last week.
Housing market revived in April
In a sign that the housing market may be set for a rebound, the pending home sales index increased 6.3% in April.
Shareholders demand accounting from AIG
Three shareholders cited a “staggering breakdown of risk controls” and “an unequivocal loss of investor confidence.”
Regulation, courts still transforming insurance products
A combination of regulatory developments and court cases since 1998 has molded annuities and insurance products into what they are today — and that development continues.
Life insurance seen moving toward federal charter
An optional federal charter and a tax environment that favors annuities are in the cards through the next 10 years for the life insurance industry.
Willis buys rival HRH for $2.1 billion
The insurance broker will acquire all of HRH’s outstanding shares of common stock for $46, 50% cash and 50% stock.
AIG probed on subprime-mortgage contracts
The insurer’s valuation of credit default swaps are in question, according to The Wall Street Journal.
New York Life promotes three in Asia
Michael Burson has been promoted to senior vice president for recruiting in Asia.
MBIA and Ambac downgraded by S&P
The bond insurers are also facing downgrades from Moody's Investors Service.
MBIA and Ambac downgraded by S&P
The bond insurers are also facing downgrades from Moody's Investors Service.
SEC weighs guaranteed securities
The SEC has not decided if synthetic guaranteed minimum withdrawal benefits should be be treated as securities.
