Former AIG chairman and chief executive Maurice Greenberg and other former executives at the insurer will have to cough up $115 million as part of a settlement in a derivatives lawsuit with the Teachers’ Retirement System of Louisiana.
The Financial Planning Association and the National Association for Fixed Annuities have leapt into the fray, submitting comments on the SEC’s proposed index annuity rule.
Another independent-contractor broker-dealer is being sold — and this time an insurance company is pulling the trigger on the deal.
Manulife Financial Corp. of Toronto has named Donald A. Guloien to succeed Dominic D’Alessandro as president and chief executive officer.
The Phoenix Cos. Inc. of Hartford, Conn., today launched its suite of living-benefit riders, with two new additions.
Declining variable annuity sales will likely lead to enhancements to and new uses for VAs as carriers look for additional ways to appeal to high-net-worth investors.
Advisers are selling more insurance, particularly long term care insurance, according to the InvestmentNews 2008 Insurance Product Survey, which polled 445 financial advisers.
As the comment period ends this Wednesday on an SEC proposed rule that would regulate certain index annuities as securities, independent distributors are gearing up in anticipation of the rule's enactment.
Sun Life Financial Inc.’s U.S. division has launched its charitable estate planning campaign to teach advisers and clients about using life insurance for charitable purposes.
American International Group Inc. is reportedly in talks with JPMorgan Chase & Co. to spin off some its subprime assets into a new company, according to The New York Post.
Overall individual-annuity sales grew 4% during the second quarter, buoyed by a spike in fixed-annuity sales, according to Limra International Inc.
Insured losses from Hurricane Gustav were not large enough to affect the creditworthiness of the insurance and reinsurance industries, S&P said.
The office of New York insurance superintendent James Wrynn has ordered embattled bond insurer Financial Guaranty Insurance Co. to halt claims payments.
The National Association of Independent Life Brokerage Agencies has announced its opposition to the SEC's regulation of fixed indexed annuities as securities.
A $241 million award given to the state regarding its takeover of the now-defunct Executive Life Insurance has been overturned.
Sales hit an estimated $24.6 billion during the second quarter, up 54.1% from the second quarter of 2007.
The group will oppose the SEC's proposal to regulate certain indexed annuities as securities.
Sun Life Financial has introduced a 6% bonus credit for customers of its Masters Extra variable annuity.
Catherine J. Weatherford replaces Mark Mackey, who in January announced that he would step down from the post.
