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Prudential, MetLife & Willis
Prudential's fourth-quarter net income fell to $792 million, or $1.75 per share, from $893 million.
NAVA spearheads ‘plain English’ push
Iowa will be the first state to join an initiative to provide customers with plain-English disclosures on fixed and indexed annuities.
Shakeup for Sun Life’s execs, groups
Sun Life Financial's U.S. division announced the creation of a new group and a change in leadership.
VAs can boost retirement returns, study finds
Variable annuities with guaranteed-minimum-withdrawal benefits allow investors to reduce risk and increase retirement income, according to a recent study.
Gazing at the new-product horizon
The forces that drove the retirement marketplace in 2007 — the automatic enrollment and default option provisions of the Pension Protection Act of 2006, the aging baby boomers and a focus on the rollover market — will continue to shape product launches this year.
Moody’s sanguine about life insurance
Strong earnings and sound investment portfolios will keep the life insurance industry stable this year, according to Moody’s Investors Service.
ACLI names Szostek director
The American Council of Life Insurers has added James Szostek as the director of pensions in the taxes and retirement security department.
NAIC claims drop in customer complaints
A total of 222,184 consumer complaints were reported to the NAIC last year, a 3.6% fall from 2006.
Marsh names president and CEO
Brian Duperreault replaces Michael Cherkasky, who left the New York-based insurance broker in December.
Bond insurers could cost finance firms $75B
A possible collapse of teetering bond insurers could cost financial firms, including Merrill Lynch and Citigroup, up to $75 billion.
Dinallo races to bolster bond insurers
Efforts to bail out bond insurers may be too late to prevent a ratings downgrade, a research firm says.
Banc One fined for deferred VA sales
Banc One Securities Corporation of Chicago was fined $225,000 by FINRA for making the unsuitable sales.
Perella to advise NY on bond insurers
By recruiting Perella Weinberg, the state regulator would focus on protecting the policyholders of “monoline” insurers.
Insurers revamp equity index annuities for boomers
Inspired by market volatility, insurance carriers are making over their equity-index annuities in an attempt to beat a bad reputation and target baby boomer investors.
Gender is big factor in pension gap
Gender is a strong factor in determining the likelihood of whether a worker 50 or older receives an annuity or a company-sponsored pension payment, according to a recently released study.
Assurant CEO returns to duty
Robert B. Pollock's return follows a six-month hiatus when Mr. Pollock went on administrative leave by order of the board of directors.
Annuity sales can destroy estate planning strategies
Insurance agents and advisers are hawking annuities without grasping the adverse impact on clients' estate plans, industry observers said.
UBS and Genworth team up on life option
The new benefit will go with UBS’s target retirement funds and other investment options.
Jackson retirement and wealth exec named
John Koehler will lead a group of nine specialists, each one focusing on advanced planning techniques.
London insurer eyes Marsh & McLennan
Willis Group Holdings, the London-based insurance broker, is talking takeover with Marsh & McLennan, CNBC reported.
