Advisers across American International Group Inc.'s three broker-dealers were stunned to learn that — contrary to all prior indications — the sale of the insurer's broker-dealer network would be scrapped.
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.
Index annuity sales rose during the second quarter, hitting $8.3 billion, according to data from Advantage Group Associates Inc.
Values on fixed-income securities will fall, hindering life insurers' financial performance over the next two years.
Health insurer Aetna Inc. will need two years to bring its profit margins back to their former levels, an Oppenheimer analyst said today in a note to client.
Catastrophe bonds climbed Friday to their highest level of the year amid reports of calmer hurricane outlooks ahead, Bloomberg reported.
Three college students whose parents died are vying for a $5,000 scholarship from the Life and Health Insurance Foundation for Education.
Although many big variable annuity writers are fading from the market, New York Life Insurance Co. has decided to jump in with a new product as a strategy to gain favor with independent broker-dealers and registered investment advisers.
New York Gov. David A. Paterson has named James J. Wrynn the state's superintendent of insurance.
The Hartford (Conn.) Financial Services Group Inc. has named Dan Guilbert chief actuary of Hartford Life Insurance Co.
Massachusetts Mutual Life Insurance Co. made another round of job cuts this week in its Connecticut and Massachusetts offices, a spokesman said.
The Securities and Exchange Commission on Tuesday filed an administrative proceeding against Axa Advisors LLC for failing to supervise a former registered representative who pleaded guilty to securities fraud in January 2008.
Moody's Investors Service today said it would keep its A3 long-term issuer rating on American International Group Inc. after the insurance company reported its first quarterly profit in nearly two years.
Although first-half revenue may be down at National Planning Holdings Inc., the independent broker-dealer network has been actively adding to its ranks of registered representatives.
Jackson National Life Insurance Co., buoyed by robust sales of annuities, saw its first-half sales and deposits reach $6.1 billion, up from $5.94 billion in the first six months of 2008.
Balances in health savings accounts increased slightly in the first quarter from fourth-quarter-2008 levels, according to data from Canopy Financial Inc.
Mutual life insurance companies fared better than their stockholder-owned counterparts in the recent economic tumult, according to a report from Moody's Investors Service.
Although improving financial markets have helped lift some life insurance carriers, the firms still have a ways to go before they recover fully, according to a report from Moody's Investors Service.
Attorneys and executives at broker-dealer firms are questioning the extent of National Financial Partners Corp.'s potential liability in a civil suit involving a failed life settlement transaction at an NFP affiliate.
New, higher assessments by the Securities Investor Protection Corp. are causing ”sticker shock” at several broker-dealers, particularly independent-contractor firms.
