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Bank channel sales plump Pru’s VA sales
Annuity sales skyrocketed during the second quarter at Prudential Financial Inc., thanks to a push to expand distribution relationships in the bank and wirehouse channels.
MetLife top seller of annuities in 2009
MetLife stays at the top, with Prudential and TIAA-CREF right behind
Buffett’s annual letter no longer special delivery
The oracle's yearly note to Berkshire-Hathaway shareholders was once a big event in investor circles. Now, it's lost its luster. Blame familiarity.
Market conduct exam lands Axa $1.9M fine
Axa also failed to use product comparisons that lower the surrender and death benefit value by the investment fund charges when considering hypothetical rates of return.
Treasury and Labor departments angling for ‘automatic annuities’ in 401(k) plans
The Department of the Treasury and the Department of Labor will soon be taking steps to make it easier for companies to offer “automatic annuities” in 401(k) plans, Treasury senior adviser Mark Iwry said today.
Radical retirement initiative from Brookings in the works
Some top retirement gurus are in the process of developing proposals that could make annuity products a crucial part of millions of Americans' retirement plans.
NY Life taps new CIO
New York Life Insurance Co. said today that John Kim, president and chief executive of the company's investment management arm, will become chief investment officer at the end of the year.
Barclays’ notes target retirement income market
In a move into the retirement income market, Barclays Bank PLC on Sept. 1 will launch two structured-note products designed to provide income over 15- to 30-year time spans.
AIG unit re-enters indexed-annuity market
Western National Life Insurance Co., jumped back into the indexed-annuity market last week after more than 18 months on the sidelines.
It’s the ‘Benmosche Show’ now: Golub out at AIG
The resignation of AIG chairman Harvey Golub may have come abruptly on Wednesday evening -- but it came as no big surprise.
Rocky start, but AIG boss Benmosche outlasts predecessors
The controversial CEO is set to become the insurer's longest-serving chief executive officer since the company's near-collapse in 2008
Banks’ Q1 income from annuities dropped
Bank holding companies' income from annuity sales plummeted in the first quarter, as the annuities lost their appeal during the stock market recovery.
Organization forms group to examine new annuity rules
Worried that new suitability rules for annuities will lead to conflicts between insurers and broker-dealers, an annuity advocacy organization has formed a working group of both parties to work out a solution.
Goldman exit leaves NFP in control of Institutional Life Services
The pullout of Goldman Sach leaves NFP in control of Institutional Life Services. So what will they do with it?
Will SEC’s life settlement proposal kill industry?
Critics say plan to treat all life settlements as securities will shrink the industry – or worse; others say that's hooey
SEC task force: Life settlements should be defined as ‘securities’
An SEC task force on Thursday recommended that life settlements be defined as 'securities,' thus making such transactions subject to federal securities laws.
AllianceBernstein looking to add financial advisers this year
AllianceBernstein Holding LP demonstrated enough progress in some businesses last year that the company plans to add advisers in 2010 and may buy smaller complementary firms, executives said late Thursday during an earnings conference call.
An easier pill to swallow
In his early 60s and at the doorstep of retirement, Robert Neiswanger was considering long-term-care insurance. He acknowledged that the coverage made sense, but he couldn't come to terms with paying for something he might never need.
States pitted against federal regulators over life settlements
A recommendation by an SEC task force that life settlements be treated and regulated as securities has raised concerns that another turf battle may be brewing between state insurance regulators and federal securities cops.
AIG-free branding helps push Western National past FA rivals
Western National Life, an AIG Inc. subsidiary, emerged as the top fixed-annuity seller in the bank channel during the third quarter of 2009, displacing rival New York Life Insurance Co., according to data from Beacon Research Publications Inc.
