Seeking to wrest market share from the asset management industry, life insurance executives will embark on a campaign of simplified consumer communications and stress real-life contexts for the use of their products.
Client interest in establishing spendthrift trusts for beneficiaries is picking up steam, partly due to the fact that wealthy clients are becoming more risk-averse, according to financial advisers.
Mary Jo Hudson, director of the Ohio Department of Insurance, yesterday adopted three accounting rule changes that would grant insurers based there some reserve relief.
The Hartford (Conn.) Financial Services Group Inc. limped through the fourth quarter of 2008, racking up a net loss of $806 million.
After forecasting dismal 2008 results, Swiss Reinsurance Group has announced that it will receive a capital infusion from billionaire Warren E. Buffett.
Will Fuller has joined Lincoln Financial Distributors of Philadelphia as president and chief executive, effective Feb. 13.
The Department of Labor today delayed implementation of a rule that would have allowed most investment advisers to give specific advice to 401(k) participants.
Aviva announced that full-year 2008 life insurance and pension sales hit a company record of 11.9 billion pounds ($17.2 billion) in the United Kingdom.
ING Groep has sold off its 70% stake in its Canadian property/casualty unit, ING Canada Inc., in an attempt to bulk up its balance sheets.
Iowa’s insurance commissioner yesterday posted a bulletin that would allow life insurers in that state to apply deferred tax assets toward 15% of their statutory capital and surplus levels.
A National Association of Insurance Commissioners executive group last Thursday vetoed a proposal from the insurance industry to loosen required capital and surplus levels.
The troubles that hit variable annuity insurers last year will follow them into this year, further denting their financial strength, according to a report from Standard and Poor’s in New York.
Lincoln National Corp. has announced that it will lay off 5% of its employees, or approximately 540 positions, according to published reports.
Standard and Poor’s Ratings Services today cut its credit ratings on AFLAC Inc., placing the Columbus, Ga., health carrier on CreditWatch with negative implications.
A bipartisan group of seven House members today sent a letter to Treasury secretary-designate Timothy Geithner, asking him to set up an office of insurance information if he is confirmed.
Shares of AFLAC Inc., a Columbus, Ga.-based health insurer, plunged after a research note from Morgan Stanley aired concerns about the company’s capital levels.
GE Asset Management Inc. of Stamford, Conn., today agreed to add the GE Investments Total Return Fund to Pacific Life Insurance Co.’s variable annuity platform.
While a handful of carriers have received clearance to become banks or thrifts, Genworth Financial Inc. of Richmond, Va., continues to wait for the OK from regulators.
The suit was filed by American Equity Investment Life Insurance Co., a major provider of index annuities, and other companies that market the products, in the U.S. Court of Appeals for the District of Columbia Circuit after the SEC published its rule in the Federal Register today.
The Federal Reserve has cleared Protective Life Corp., the Birmingham, Ala., insurer, to become a bank holding company, making the carrier eligible to a slice of the $700 billion federal bailout.
