AIG is in need of a federal government guaranty to meet counterparty collateral requirements, its former CEO Maurice Greenberg, said today.
Genstar Capital LLC, a San Francisco-based private-equity firm, yesterday agreed to buy Long Term Care Group Inc., an outsourced services administrator.
While variable annuity performance has plunged this fall, the hedging programs designed to protect the products have helped carriers save $40 billion during September and October, according to a study from Milliman Inc.
Fixed annuity sales in the United States hit $27.1 billion in the third quarter, up by 54% from the third quarter of 2007, according to data from Beacon Research of Evanston, Ill.
Many plan sponsors aren't focused on the investment strategies behind target date funds, creating an opportunity for financial advisers to play a greater role in the retirement-planning process, according to a survey by JPMorgan Asset Management Inc. of New York.
Advisers find themselves in unusual situations in this roller coaster financial market, and some are offering advice — which might contradict conventional wisdom.
When a client recently told her adviser that she would be losing her public relations job in six months, Morris Armstrong gave her advice that he never thought he would dispense: He told the single mother, who had been contributing significantly to her 401(k) plan, to stop.
President-elect Barack Obama’s campaign promises, selection of economic advisers and recent statements provide insight into the likely tax changes to come and the timing of any such changes.
The New York-based accounting firm yesterday paid the settlement in connection with its auditing service for Philadelphia-based Reliance Insurance Co., a carrier that’s now in liquidation.
Ameritas Life Insurance Co. of Lincoln, Neb., will offer a new version of its new variable universal life policy Jan. 1 as the company tries to conform to new mortality tables.
Despite the fact that employees are losing a lot of money in their 401(k)s, most are staying the course with their retirement plans, according to an analysis by Hewitt Associates LLC.
As representatives from the American auto industry plead for a multibillion-dollar federal bailout, some financial advisers are already bracing for worst-case scenarios that could leave thousands of autoworkers, retirees and those working in related industries scrambling to fill retirement and health care funding gaps.
Roger W. Crandall, co-COO, executive vice president and chief investment officer, will take on the role of president, presently held by chairman and chief executive Stuart H. Reese.
MetLife Inc. of New York said that State Street Global Advisors in Boston will subadvise a pair of exchange-traded-fund-focused asset allocation portfolios for the carrier’s variable annuities.
The exposure was in four transactions: two collateralized-debt-obligation squared transactions and two high-grade CDOs of asset backed securities.
This week, three more insurers announced their intentions to apply for to the Department of the Treasury’s Capital Purchase Program.
Index annuity sales crept up during the third quarter, hitting $6.7 billion, according to data from AnnuitySpecs.com of Pleasant Hill, Iowa.
There are more enrollees in consumer-directed health plans this year than last, and those individuals are more likely to have higher income and enjoy better health than their traditional plan counterparts, according to a study.
Encourage your clients to go over their itemized deductions. If they are not as high as the allowable standard deduction, they may want to consider delaying some until next year.
Four more insurers have lined up to become banks in the hopes of qualifying for some money from the Treasury’s Troubled Asset Relief Program.
