Jackson National Life reported today a 14% earnings increase and $4.1 billion in revenue for 2007.
Estimated sales of book value annuities totaled $6.9 billion, while sales of indexed annuities totaled $6.3 billion.
The move is intended to simplify the mutual company's ownership structure, according to the firm.
The New York attorney general Andrew Cuomo is broadening his investigation into health insurers’ practices related to payments for out-of-network services.
Ambac will seek to raise capital through a $1 billion common stock offering, plus a $500 million public offering of equity units.
Pay tax on such financial products, even though no payoff from such investments is assured, would unfairly limit trade of the financial products, according to the group.
The American Bankers Insurance Association has elected three financial services industry leaders to serve as new board of directors.
The bond insurer has decided against splitting into two entities, as it prepares to receive up to $3 billion in cash.
Changes to defined benefit plans will slow considerably this year, with 72% of plans surveyed by Hewitt Associates saying they would not likely make any changes to their plans this year, compared to 41% in last year’s survey.
The firm's life settlements units have received provider licenses in 22 states and have filed applications with five others.
Registered investment advisers just might be the next big ticket for the insurance industry.
Although 2008 probably won't be a year for any significant tax changes, the insurance industry is preparing for 2009 and 2010, when tax increases appear likely.
Robert R. Carter is stepping down as president of NFP Insurance Services Inc., according the SEC filings.
The Labor Department will soon release guidelines detailing how advisers may give direct counsel to clients about IRAs.
The Dow Jones lost more than 300 points after the insurer reported dismal quarterly results.
West Virginia today passed legislation to prevent the settlement of stranger-oriented life insurance policies.
MBIA is bracing for more write-downs and Ambac has been given more time to justify its triple-A rating from Moody’s.
A record 516 new plans were funded in 2007, with total plans serviced growing to 2,825, a 15% increase from 2006.
