The world’s second-largest insurance broker, Aon Corp., saw its net income decrease 43% to $117 million, or $0.40 per share, in the third quarter, compared with $204 million, or $0.64 per share, in the year-earlier period.
The stock price of The Hartford (Conn.) Financial Services Group Inc. dipped by more than half yesterday, following the company’s release of dismal third-quarter results.
Consumer spending declined 0.3% in September in yet another sign that the economic slump is battering consumers, according to the Department of Commerce.
Japan has responded to the global credit crunch today by announcing a 26.8 trillion yen ($275 billion) stimulus package that is designed to assist homeowners and businesses, according to published reports.
The Hartford (Conn.) Financial Services Group Inc. today reported a third-quarter net loss of $2.6 billion, or $8.74 per diluted share.
Aetna Inc., the Hartford, Conn.-based health insurer, announced today that its third-quarter profit dropped to $277.3 million, or 58 cents per share.
Finra has fined independent broker-dealer J.P. Turner $250,000 for failing to employ an adequate supervisory system to ensure that its registered representatives charged customers "fair and reasonable" commissions on stock trades.
Not only are investors greatly confused about annuities, but they are also greatly biased against them, according to a new study from LIMRA International.
Legg Mason Inc. and Lazard Ltd. both posted third-quarter losses today, while ratings giant Moody’s Investors Service saw profits drop.
KLD Research & Analytics Inc. and FTSE Group today announced a strategic partnership designed to offer a comprehensive offering of environmental, social and governance research and indexes.
To survive the credit crunch and regain consumer confidence, insurers must strip away the fancy features from their products, said Quincy Krosby, chief investment strategist at The Hartford (Conn.) Financial Services Group Inc.
Consumer confidence hit a record low this month, as the credit crisis darkened Americans’ outlook on the economy and the job market.
MFS Investment Management of Boston announced today the formation of a business development office for the defined contribution investment only market.
The finance ministers from the Group of Seven industrialized nations today issued an emergency statement that warned against the surging value of the Japanese yen.
Insurance executives highlighted the income benefits behind some new annuity solutions and guarantee wrappers, but the costs behind these products may rise in light of a careening market.
Amid bad news in the financial sector, life insurance executives were urged to fight for clients’ trust in their industry and products at the research organization’s annual meeting in Hollywood, Fla.
With the economy in the throes of a financial crisis, financial advisers have found a silver lining in recent declines in crude-oil prices, but many are still skeptical about jumping into the energy market right away.
Some longtime bearish market gurus have turned bullish.
The financial markets' continuing woes are driving some financial advisers to rethink the notion of buying and holding for the long term, opting instead for strategies that look a lot like market timing.
Charles Schwab & Co. Inc., the pioneer of discount brokerage and the first broker to focus a business unit solely on independent investment advisers, appears to have proved once again that it pays to be first.
