The Phoenix Cos. Inc., following a series of ratings downgrades earlier this year that halted sales of its life insurance and annuity products by major outside distributors, today announced the creation of a distribution company, Saybrus Partners Inc., and a consulting agreement with Edward Jones & Co. LP.
A panel of life insurance company chief executives last week assessed how the industry has dealt with the financial crisis, debating the merits of mutual companies versus stock companies.
Economist, lawyer and deadpan comedian Ben Stein doesn't find much humor in the way the federal government is handling the economic crisis.
A California life insurance agent will face a preliminary hearing Friday as he contends with grand-theft and identity theft charges.
New opportunities for insurers and asset managers are on the horizon as they seek a way to put a guaranteed wrapper around target date funds, according to an insurance company executive.
Life insurer Hartford Financial Services Group Inc. said Monday that its chief financial officer, Lizabeth Zlatkus, will be named its chief risk officer and the company will begin looking externally for a new CFO.
New York Life Insurance Co. is preparing to launch a no-load version of its immediate annuity to target the fee-based-adviser market, according to Matthew Grove, its vice president.
After leading Chicago's unsuccessful effort to land the Olympics, Patrick Ryan is jumping into something he knows a lot better than the Byzantine politics of the International Olympics Committee — the insurance business.
The Hartford Financial Services Group Inc. has introduced a variable annuity that allows clients to allocate dollars into a built-in income component.
Members of the insurance industry are applauding an amendment to the Consumer Financial Protection Agency Act of 2009 that eliminates a section that would have given the agency oversight of some insurance products.
Members of Congress took to task John Hancock Life and Health Insurance Co. and the federal Office of Personnel Management in a hearing last week, blasting them for an unexpected rate hike in long-term-care insurance that would hit federal employees.
A federal jury in Minnesota ruled last week that Allianz Life Insurance Company of North America used deceptive materials to market its two-tiered equity-indexed annuities, but declined to assess damages against the company, saying that the plaintiffs suffered no harm.
Hollywood and the insurance industry continue to trade blows as celebrities attack companies' business practices.
When fee-only financial adviser Martha Schilling discovered that an elderly client needed to augment an old long-term-care insurance policy, she was shocked to find that the client's carrier is teetering on the brink of insolvency.
Many firms, including Pimco, Russell Investments and John Hancock, are planning or discussing the addition of guarantees to their mutual funds to provide scared investors with a floor on their investments, but advisers are skeptical about such promises.
Conseco Inc. said Friday that a subsidiary has reached a reinsurance agreement with Wilton Reassurance Co. covering about 237,000 life insurance policies.
A federal jury in Minnesota has ruled that Allianz Life Insurance Company of North America used deceptive materials to market its two-tiered equity-indexed annuities, but declined to assess damages against the company, saying the plaintiffs suffered no harm.
Insurer American International Group Inc. said late Monday it has agreed to sell its nearly 98 percent stake in Taiwan unit Nan Shan to an investor group led by Hong Kong's Primus Financial for about $2.15 billion.
Consumer advocates today railed against a proposal that would change the way insurance regulators assess the amount of capital carriers hold against residential-mortgage-backed securities.
Invest Financial Corp. said today that it has hired Steve H. Dowden as president and chief executive, succeeding Lynn Niedermeier.
