The judge determined that state insurable interest laws do not apply to annuities – at least, in this case.
Meanwhile, the National Association of Insurance Commissioners has scheduled a hearing in Washington this month to discuss the transactions
You have to feel sorry about The Hartford's latest problems.
Berkshire Hathaway Inc. had sold insurance requiring the Omaha-based company to pay $30 million to a client if France won the tournament.
Broker-dealers and financial advisers are taking action against The Hartford Financial Services Group Inc. in response to a letter the firm sent to their clients that entices them to swap their variable annuities for a replacement — one that advisers say actually strips away generous guarantees.
Billionaire Warren Buffett, chairman of Berkshire Hathaway Inc., said the company's management is “well-equipped” for when he and Vice Chairman Charlie Munger step down.
BrightScope Inc. today launched a new tool that allows investment-only 401(k) asset managers to pinpoint which retirement plans are using their funds — as well as those of their competitors.
In their attempts to defuse the recent controversy surrounding retained-death-benefit payouts to survivors, insurance industry executives have played up the protection that the accounts provide grieving beneficiaries.
President Barack Obama said it would be “irresponsible” for Congress to extend tax cuts for the wealthiest Americans and voiced support for Treasury Secretary Tim Geithner and National Economic Council Chairman Lawrence Summers.
Reports began circulating on Aug. 27 that Manulife — John Hancock Financial Services Inc.'s parent company — was gearing up to buy Lincoln National Corp.
Acquisition of U.S. company — and its variable annuity business — would hike Manulife's exposure to volatile equity markets
Fidelity Investments' insurance unit has dropped the cost of its variable annuity by 10 basis points and has created a new fee level for larger accounts.
The agency says some beneficiaries may mistakenly believe the accounts are insured by the U.S. government
U.S. life insurers, a group led by MetLife Inc. and Prudential Financial Inc., would be prohibited from retaining death benefits without specific consent of clients, under a proposal today by state legislators.
The furor over retained-asset accounts doesn't appear to be letting up. The VA is investigating. The Secretary of Defense wants money returned to beneficiaries. And now, a source says NY AG Andrew Cuomo is widening his probe of the industry practice.
If you have clients with sizable pension plans who are getting married for the first, second or third time — or more — the question of who gets the pension plan after death must be agreed upon now, and the agreement must hold up when the time comes to pay beneficiaries.
