Nationwide Financial Network, the sales and marketing arm of Nationwide Mutual Insurance Co., has informed the 200 independent financial advisers that clear through its brokerage to find a new broker-dealer by April 30.
Major life carriers' earnings will take just a minor hit from President Obama's proposed Financial Crisis Responsibility Fee, according to a report from securities firm Keefe Bruyette and Woods.
The office of New York insurance superintendent James Wrynn has ordered embattled bond insurer Financial Guaranty Insurance Co. to halt claims payments.
ING Groep NV, one of Europe's largest banking and insurance groups, reduced its losses to €712 million ($980 million) for the fourth quarter on Wednesday, reflecting a mixed operating performance and a big charge related to an earlier bailout.
The Labor and Treasury department have put out a request for information on the use of annuities in defined-contribution plans.
A recent lawsuit concerning a failed investment in a life settlement has exposed a new area of regulatory uncertainty and potential liability for registered representatives and their firms.
Amid growing scrutiny of life settlements securitization, the Securities and Exchange Commission has created a task force to examine financial products, according to The Wall Street Journal.
Buzz is building among financial firms about arranging life settlement securitizations, but experts question the structured products' viability as an investment amid a lengthy list of risks and a limited track record of successful transactions.
MetLife Inc. on Monday projected fourth-quarter and 2010 operating earnings mostly above analyst estimates.
The life settlements and life insurance industries are criticizing President Barack Obama's 2011 budget proposal, which includes provisions that would require additional reporting to the IRS for life settlements and would impose taxes on corporate-owned life insurance.
A Wells Fargo Securities analyst has speculated that Prudential Financial Inc. may target ING's U.S. retirement business as an acquisition.
Sources claim Northwestern Mutual -- 'the quiet company' -- is quietly discussing selling the asset manager. The insurer, however, says Russell is not for sale.
Insurance brokerage fee income at banks hit $3.05 billion for the third quarter of 2009, up 11.7% from the year-ago period, according to the Michael White-Prudential Bank Insurance Fee Income Report.
With the Senate set to reconvene this week, the insurance industry is stepping up its efforts to encourage members of the Banking Committee to support a comprehensive study into whether brokers should be forced to adhere to a fiduciary standard.
A California couple has filed suit against The Variable Annuity Life Insurance Co., an American International Group Inc. subsidiary, claiming that the company's sales agents misled investors about the tax advantages of using variable annuities in qualified retirement plans.
American International Group says it has slashed the amount of money it owes the government by $25 billion after moving two subsidiaries into special holding units ahead of their planned spinoffs or sale.
SunAmerica Retirement Markets Inc., the AIG subsidiary, has released two new variable annuity riders — and the company vows to compete with rival carriers to grab advisers' attention.
Two major life insurers are providing disaster relief to Haiti by making donations to the earthquake-ravaged republic.
