As life and annuity insurers emerge battered from 2008 and the first quarter this year, there appear to be some hints of recovery amid the wreckage, according to a report from A.M. Best Co.
The Hartford (Conn.) Financial Services Group Inc. yesterday said that it has closed its deal to purchase Federal Trust Corp. for $10 million.
President Obama’s proposed financial regulations could tighten restrictions on insurance companies and pressure the companies’ ratings, according to a new report from Moody’s Investors Service.
The Texas Department of Insurance yesterday said that it will try to implement provisions of legislation vetoed last week by Gov. Rick Perry that was designed to protect annuity customers.
Life insurance companies are struggling to emerge from the shadows of 2008’s losses, but in the long run they will prosper, according to a study from Conning.
The Life Insurance Settlement Association today applauded new legislation in Maine which requires that insurance customers be apprised of their rights to sell their policies on the secondary market.
Bank-owned life insurance assets ballooned to $126.1 billion last year, up 5% from $120.1 billion in 2007, according to recent research from Michael White Associates.
Drug companies have pledged to spend $80 billion over the next decade to help reduce the cost of drugs for seniors and pay for a portion of Obama's health care legislation.
Aviva PLC yesterday sold its Australian life insurance and wealth management businesses to National Australia Bank of Melbourne.
Some financial advisers are rethinking the idea of: Buy term insurance and invest the difference.
“I don't give a damn 'bout my bad reputation!” rock 'n' roll icon Joan Jett sang in 1981.
Lincoln National, which markets itself as Lincoln Financial Group, will raise about $600 million from the stock offer.
Standard and Poor’s Ratings Services today hit Massachusetts Mutual Life Insurance Co., New York Life Insurance Co. and TIAA-CREF with negative ratings actions.
Aquiline Capital Partners LLC has purchased Conning & Co., the research, consulting and asset management firm, from Swiss Reinsurance Co. Ltd.
The Financial Industry Regulatory Authority Inc. yesterday adjusted its variable annuity suitability rule, releasing the final version of the much-debated Rule 2821. Originally, the rule had four major components.
Because the insurance industry has grown to $6.3 trillion in assets under management and $1.2 trillion in annual premiums, the regulations that govern the industry need to be modernized, according to House Capital Markets Subcommittee Chairman Paul Kanjorski, D-Pa.
The company, which markets itself under the name Lincoln Financial Group, said it will accept as much as $950 million in capital as part of the government's $700 billion TARP program.
