MBIA Insurance Corp. will reinsure a $184 billion portfolio of bonds previously backed by the troubled Financial Guaranty Insurance Co.
John Brown told Bloomberg that the insurer would either divide its guarantee business into two entities or raise capital.
Financial Guaranty Insurance Co. wants to split itself into two companies.
Tensions at home were mounting after Jeremy Field lost a second construction job as the recession hit. He spent his days on the Internet and the phone looking for work. His wife, Kelly, who had been home caring for their toddler son, reluctantly returned to teaching preschool. But her part-time work meant a huge cut in wages and benefits, forcing them to sell a car and slash Christmas spending.
FundQuest has added Fidelity Investments Life Insurance Co.'s Personal Retirement Annuity to its platform, marking the first time that the Fidelity variable annuity will be available to fee-based advisers through a managed-account provider.
A Wells Fargo Securities analyst today speculated that Prudential Financial Inc. may target ING's U.S. retirement business as an acquisition.
A wealthy accountant who provided extensive help in the tax evasion probe of Swiss bank UBS AG was sentenced to a year of house arrest Wednesday after admitting he concealed about $6 million in assets from the IRS.
Many U.S. taxpayers with unreported income from hidden offshore accounts have decided to participate in the government's tax amnesty program, which ends tomorrow, according to tax attorneys.
Financial advisers beware: All Roth IRA conversion calculators are not created equal.
Chances are, you have clients in financial distress, with a need for ready cash.
Sales of fixed annuities fell during the third quarter to $21.9 billion, reflecting a decline of 21% from the year-ago period, according to data from Beacon Research.
Now that the Department of Labor is scrapping a rule proposal that would have allowed brokers affiliated with financial-services firms to provide advice to 401(k) participants, Congress will move forward with legislation that would require that such advice be given by independent advisers, according to a key congressman.
American International Group Inc. today said it would sell its Hong Kong consumer finance unit to the China Construction Bank Asia Corp. Ltd.
Life insurance agents' advocacy groups teamed up on Friday to ask Connecticut Senate Banking Committee Chairman Christopher Dodd, D-Conn., to reconsider a legislative provision that would require life agents to become registered investment advisers.
Lawmakers in Washington are discussing scrapping the conflicted-advice provision of the 401(k) Fair Disclosure and Pension Security Act of 2009 — a move that would be welcomed by many in the financial services industry.
New York Life Insurance Co. is looking to acquire one or more fund companies, according to one of its top executives.
Here are some key individual retirement account items to check on before the end of the year.
Milliman Inc. is in discussions with a number of mutual fund companies, insurers and 401(k) plan sponsors to launch a guaranteed-income product that would be backed by a pool of insurers.
Despite the growing trend of employers putting their 401(k) plans on autopilot, many more are making investment advice available to plan participants, according to a Hewitt Associates survey released last week.
