Jackson National Life Insurance Co., buoyed by robust sales of annuities, saw its first-half sales and deposits reach $6.1 billion, up from $5.94 billion in the first six months of 2008.
For the first time in a year, more of Fidelity's 11.2 million plan participants have raised, rather than reduced, their contributions.
The U.S. and Swiss governments have reached an out-of-court settlement in the tax evasion case involving the Internal Revenue Service's request that UBS AG turn over the identities of 52,000 Americans who have accounts with the bank that may have been used to avoid paying U.S. taxes.
Balances in health savings accounts increased slightly in the first quarter from fourth-quarter-2008 levels, according to data from Canopy Financial Inc.
Mutual life insurance companies fared better than their stockholder-owned counterparts in the recent economic tumult, according to a report from Moody's Investors Service.
The recent SEC rule change allowing unexercised employee options to act as collateral for listed publicly traded options is good news for holders of employee options.
Although improving financial markets have helped lift some life insurance carriers, the firms still have a ways to go before they recover fully, according to a report from Moody's Investors Service.
Attorneys and executives at broker-dealer firms are questioning the extent of National Financial Partners Corp.'s potential liability in a civil suit involving a failed life settlement transaction at an NFP affiliate.
New, higher assessments by the Securities Investor Protection Corp. are causing ”sticker shock” at several broker-dealers, particularly independent-contractor firms.
Low-cost mutual funds make up most of the assets in 401(k) plans, according to a study released yesterday by the Investment Company Institute, a Washington-based industry trade group.
American International Group Inc. said today director Harvey Golub will become Monday its non-executive chairman, replacing retiring Chairman Edward M. Liddy. Golub, 70, was elected to the AIG board in May 2009.
A federal judge in Miami is due to learn if a settlement has been finalized in the high-stakes attempt by the U.S. government to obtain names of suspected tax evaders with secret accounts at Swiss bank UBS AG.
Standard & Poor's Rating Services today downgraded The Phoenix Cos. Inc., a day after the insurer reported a huge second-quarter loss.
The Financial Industry Regulatory Authority Inc. has slapped Ameritas Investment Corp. with a fine after one of its brokers encouraged clients to buy unsuitable variable universal life insurance policies to help pay for college costs and retirement.
The Ohio Department of Insurance is examining storied insurance firm Barry Kaye Associates Inc. after a civil suit on a failed life settlements transaction accused the firm of fraud and negligence.
Conseco Inc. reaped a second-quarter profit of $27.6 million, or 15 cents a share, marking its second consecutive quarter in the black.
The New York-based insurance broker and consulting firm said it lost $193 million, or 37 cents per share. It earned $65 million, or 12 cents per share, during the same quarter last year.
The median asset levels in 401(k) plans dropped at least 15% from yearend 2007 to mid-June 2009, but the affluent and wealthy saw much heftier losses, according to a report released yesterday.
Although improving financial markets have helped lift some life insurance carriers, the firms still have a ways to go before they recover fully, according to a report from Moody's Investors Service.
Bank holding companies raked in $3.03 billion in insurance brokerage fee income during the first quarter, down from $3.21 billion a year earlier, according to a report.
