As wildfires blazed through Angeles National Forest last week, advisers who had weathered other such natural disasters kept their data safe and found ways to connect with their clients.
Central United Life Insurance Co. has come out swinging against a lawsuit filed by the Missouri Department of Insurance, which accused the carrier of improperly paying claims to cancer patients.
A South Shore, Ky.-based insurance agent this week was sentenced to five years in prison and ordered to pay almost $400,000 in fines for swindling clients in a Ponzi scheme that involved annuities.
Insurers Argus Group Holdings Ltd. and Tremont International Insurance Ltd. have reached a partial settlement in a lawsuit filed by variable-annuity and variable-universal-life customers who lost money in Bernard Madoff's $65 billion Ponzi scheme, according to court documents.
Two John Hancock Life Insurance affiliates have received regulatory approval in Massachusetts to merge into another company entity.
Total sales of life insurance plummeted during the second quarter, falling 20% from a year earlier, according to a report from LIMRA International.
Shares of MetLife Inc. slipped today after a Raymond James analyst downgraded the insurer, citing the company's overvalued stock price.
Insurance companies said yesterday it was too soon to determine how much they would have to pay for claims from wildfires that have already burned more than 80 homes in California and threatened thousands more.
Overall sales of fixed annuities hit $27.8 billion during the second quarter, up 10% from a year earlier but down 20% from the first quarter this year, according to data from Beacon Research Publications Inc.
The Missouri insurance department has sued Central United Life Insurance Co. for allegedly dodging claims from clients with cancer.
A widow yesterday filed an arbitration claim with the Financial Industry Regulatory Authority Inc. against Ameriprise Financial Services Inc., alleging that a broker there failed to properly advise her aged husband on a variable annuity purchase and botched a beneficiary designation.
Variable annuities, whose sales and asset levels slumped during the market downturn, showed signs of a comeback in the second quarter, according to data from the Insured Retirement Institute.
Though rep recruitment is up at the John Hancock Financial Network since the firm decided to embrace the independent adviser channel, recruiters remain skeptical as to whether independents will continue to flock to the company.
Total individual-annuity sales tumbled during the second quarter as carriers' new business slowed and fixed-annuity interest rates fell, although sales for all fixed annuities fared better, according to data from LIMRA.
A new life insurance product from The Phoenix Cos. Inc. covers two lives under one policy, providing a death benefit for a spouse or business partner.
Although members of the insurance industry and some broker-dealer executives are butting heads with state regulators on tougher annuity regulation, financial advisers cheered the proposed use of Finra-esque suitability layers for all annuity sales.
The declining value of fixed-income portfolios in a climate of rising interest rates will hinder life insurers' performance over the next two years.
Henry Waxman, chairman of the House Committee on Energy and Commerce, is asking executives at Genworth Financial Inc., The Guardian Life Insurance Company of America and MetLife Inc. to produce details on executives' pay.
American International Group Inc. has named Jay S. Wintrob president and chief executive of its Domestic Life and Retirement Services business.
Florida Atlantic University's College of Business yesterday stripped life insurance guru Barry Kaye's name from the school, according to published reports.
