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Ex-Marsh execs convicted for bid rigging
The two were among a group of ex-Marsh executives who were charged in a criminal indictment in September 2005.
MBIA breaks ties with trade association
MBIA has pulled away from the Association of Financial Guaranty Insurers, saying it no longer shared the trade association’s views.
Greenberg wins access to AIG docs
Ex -AIG CEO Maurice R. Greenberg will get court-ordered access to legal documents that could help him fight fraud charges, according to published reports.
MBIA blasts Ackerman’s bond insurer plan
The New York State Insurance Department also reproached the plan, arguing that it would be “bad for the banks.”
Lincoln launches variable annuity rider
The all-in-one rider provides an income step-up to 200% of the initial guaranteed amount 10 years into the policy.
Wachovia tops in annuity-sales commissions
The Charlotte, N.C.-based bank collected $483 million in annuity fees, or 0.06% of $782.8 billion in assets.
NAIC releases laws and practices report
The assessment details areas where reciprocity and uniformity initiatives must improve in U.S. states.
Report: Buffett slammed for bailout plans
Warren Buffett faced is facing criticism after Moody’s Investors Service — in which he is the largest stakeholder —told bond insurers to accept a bailout.
Plains state aims for plain English
Iowa will be the first state to join an initiative to provide customers with plain-English disclosure on fixed and indexed annuities.
Congress mulls insurance regulator
Officials have testified that the time is right for a federal insurance regulator.
DTCC slices mutual fund, insurance fees
DTCC has trimmed fees for mutual fund and insurance transactions.
Allianz Life arm agrees to pay $10 million fine
Insurer settles with California over allegedly inappropriate fixed annuity sales.
Goldman offers twist on life settlements
Goldman Sachs has created an index for investors seeking opportunity in longevity and mortality risk.
Annuities gain ground in retirement market
Despite initial concerns about portability, cost and complexity, annuities in defined contribution plans are slowly gaining momentum, according to a new report.
MMC to rise above scandals
Of all the firms targeted by Eliot Spitzer when he was cleaning up abuses on Wall Street, none suffered more than Marsh & McLennan Cos.
Clinton’s run for presidency may raise profile of stalled bill
Sen. Hillary Clinton's bid for the White House may rekindle momentum behind a bill she co-sponsored last year that would offer a tax break on some annuities, according to a retirement trade group.
AIG stock tumble as it re-evalutes debt
The value of its super-senior-credit-default swap portfolio declined $5.9 billion and not $1.6 billion, AIG reported to the SEC.
Phoenix to spinoff asset management
Company wants to be a high-net-worth 'pure-play', reports a 90% drop in fourth-quarter income.
Net lower at Nationwide, Protective Life
Fourth quarter profits down 50% at Nationwide, off 29% at Protective Life.
Hancock forms tax and estate-planning team
John Hancock Financial's team will act as a resource for financial planners and advisers on tax and estate planning issues.
