The National Association of Securities Dealers and state regulators in North Dakota, Iowa and Minnesota signed a joint statement supporting a new rule to require that insurance companies and agencies recommend only suitable annuity products to their customers.
Liberty Mutual Group in Boston today announced that it will acquire all outstanding shares of common stock of Ohio Casualty Corp. of Fairfield, Ohio for $2.7 billion in cash, or $44 per share.
MetLife Inc., the largest U.S. life insurer by assets, is reaping the benefits from its growing international business.
New accusations against equity index annuity sellers may lead to regulatory grief comparable to what property-casualty firms suffered during the contingent- commission scandal a couple of years ago, industry observers say.
NEW YORK — Insurers are launching marketing blitzes to win the investible assets of the wealthy, but many will fail because they don’t understand how rich people think, some consultants say.
For the second time in as many months, a Mideastern investor has acquired what it called a “substantial” stake in British bank HSBC Holdings PLC, according to published reports.
JPMorgan Chase & Co is reviewing security protocols after a video posted online showed someone displaying documents found in trash cans containing customers' personal information, according to CNN.Money.com.
Allianz SE noted that first quarter profits grew a hefty 80%, but results were enhanced from the sale of shareholdings in Germany. Net income crested at 3.2 billion euros ($4.35 billion) from 1.78 billion euros in the same period a year ago, reported Bloomberg.
Citigroup Inc. is looking to connect with its clients in a new ad campaign.
RBC Capital Markets has announced that it agreed to acquire Seasongood & Mayer LLC, a Cincinnati-based public finance firm and underwriter of municipal debt.
Bank of America Corp. has threatened to take legal action against ABN Amro Holding NV should it make any attempt to block its plans to buy LaSalle Bank Corp., ABN's Chicago-based subsidiary, according to the Financial Times.
Universal life insurance captured a 40% share of the overall life insurance market for the first time last year and is expected to continue its strong showing, industry experts say.
The Hartford Financial Services Group Inc. announced today that earnings rose 20% in the first quarter to $876 million, from $728 million for the same period a year earlier.
A group of banks led by the Royal Bank of Scotland today offered over $98 billion for ABN Amro, trumping the $90 billion offer by London-based Barclays PLC announced earlier in the week, according to published reports.
Merrill Lynch & Co. Inc. today announced that it will buy a nearly $3 billion stake in Resona Holdings Inc., Japan's fourth-largest bank, according to published reports.
Aflac Inc.’s net income increased 10.9% in the first quarter, despite lagging sales in Japan, the Columbus, Ga.-based insurance company reported.
UBS AG today launched a global warming index based on weather futures for 15 U.S. cities that is being traded on the Chicago Mercantile Exchange.
NEW YORK — North Dakota last week became the first state to adopt a more stringent statute regulating life settlements, with special emphasis on stranger-originated life insurance.
WisdomTree Investments Inc. of New York announced today that Independence Blue Cross of Philadelphia, through its subsidiary QCC Insurance Co., has allocated $25 million to WisdomTree’s High Yielding Equity Index.
Barclays PLC today announced it would sell Chicago-based LaSalle Bank Corp., a unit of ABN Amro Holding NV, to Bank of America Corp. for more than $21 billion.
