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States take shots at STOLI
Oklahoma and Connecticut have passed bills to discourage stranger-originated life insurance practices.
American International Group, Allianz
AIG reported a net loss of $7.81 billion, or $3.09 per diluted share, for the first quarter of the year.
Conseco to pay $2.3M for bad practices
Regulators discovered lapses in the company’s long-term-care insurance claims and complaints processing.
Conseco to pay $2.3M for bad practices
Regulators discovered lapses in the company’s long-term-care insurance claims and complaints processing.
Study: Banks boom when they sell insurance
Banks that sold insurance were more profitable than those that didn’t in 2007, according to Bank Insurance Market Research.
Advisers remain guarded on catastrophe bonds
As hurricane season approaches, financial advisers continue to look warily upon catastrophe bonds
Sun Life unveils retirement offering
Sun Life Financial Inc. of Toronto today released a new rider, the Retirement Income Escalator.
$800M fund established for AIG victims
The Fair Fund distribution concludes the saga that began when the insurer was accused of falsifying financial statements.
The Hartford revamps variable annuity
The Hartford Financial Services Group announced changes to its flagship variable annuity and its sales force.
New products challenge insurance biz
“We’re going to see new products for [income] guarantees that aren’t insurance,” said Laura Varas of FRC.
Allianz 1Q profit down 66%
Allianz's first-quarter net income slid to $1.7 billion, down 66%, from $4.9 billion in the same period last year.
AXA Equitable jumps into retirement annuities market
Retirees are increasingly worried that they will live too long and their savings will run out, and financial services companies are noticing.
MBIA, Ambac Financial: Back to the trough?
One Goldman analyst says the bond insurers will need $3.4 billion each in added capital thanks to more quarterly losses.
NAIC slams NAIFA on charter support
“We are certainly ... disappointed that NAIFA’s board would suddenly change course on this important consumer protection issue"
FINRA seeks to delay some of VA sales rule
The regulator wants to delay a rule that governs the review of deferred variable annuity sales.
Federal insurance adviser floated
A bill would create a federal office inside the Treasury to provide expertise on regulating the insurance industry.
Gen Re CEO steps down
Joseph P. Brandon, chairman and chief executive of General Re Corp., left his post following a rocky court case.
Iowa moves to ban STOLI products
The Iowa Legislature has approved a bill to ban stranger-originated life insurance practices.
Zurich Financial cuts 400 jobs
Zurich Financial Services announced that it is cutting 400 jobs at its North American business insurance unit.
Retirement angst reaches 18-year high
Less than 20% of American workers feel confident that they will be able to afford a comfortable retirement .
