Charitable giving in the United States reached a record $306.4 billion in 2007, the Giving USA Foundation reported.
Ratings firm Moody's Investors Service has slashed the ratings of guarantors MBIA Inc. and Ambac Financial Group Inc., both of New York.
New York Life Insurance Co. has tapped Jon Stenberg to join the company as a senior vice president in the individual-life department.
Mark J. Schlafly will lead two broker-dealers, FSC Securities Corp. and Advantage Capital Corp., both of Atlanta.
Pyramis Global Advisors announced yesterday that Kevin C. Uebelein has been named president and chief executive.
Findings from The Conference Board Inc.'s index of leading indicators show that an economic rebound may be on the horizon.
The firm issued a statement at a shareholders’ meeting at which Investors Against Genocide had raised the issue through shareholder proxy voting.
The policy, the Lifetime FlexPlus II, features premiums that are 3% to 5% lower than those of the original version.
Pennsylvania Life Insurance has agreed to a $925,000 settlement following allegations of unsuitable annuity sales in Wisconsin.
Bellatore Financial of San Jose, Calif. will purchase $540 million in assets from Nationwide Investment Advisors
The New York-based firm suffered a 61% second-quarter drop in profit but still beat analysts' expectations.
The Lance Group specializes in school boards and municipalities and handles benefit plan analysis as well as design.
The producer price index, which tracks the inflation rate for wholesalers, increased 1.4% in May.
Investors, bankers and real estate investment trust executives expressed cautious optimism as they gathered in New York recently to discuss commercial real estate prospects at this year's NAREIT Investor Forum.
Martin J. Sullivan, CEO of American International Group, has been ousted from the New York-based insurer.
Two of the brokerage industry's most prominent wealth managers have dumped their wirehouse broker-dealers, instead opting to become independent registered investment advisers, with more well-known advisers perhaps soon to take the same path.
Despite continued efforts to curtail litigation when brokers change firms, departing reps are still being sued, and some say that recent developments suggest the harassment won't stop anytime soon.
The FPA says the rule would add confusion and conflict regarding standards of accountability to the investor.
Supporters of simplified disclosures for variable annuities may get a boost from a proposal that state insurance regulators will soon consider.
