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Merger pace slow for U.S. life insurers in 2010
U.S. life carriers had a fairly small appetite for mergers and acquisitions in 2010, with much of the activity taking place in AIG's shedding of its foreign life insurance subsidiaries.
Broker-dealers lack E&O savvy
At a time when litigation has threatened the financial viability of several securities firms, executives at independent broker-dealers, as well as the more than 110,000 or so independent-contractor registered reps, often are woefully underinformed about their errors-and-omissions insurance, according to industry observers
New insurance alliances spawn annuity innovations
Smaller life insurers — battered by the recession but ready to get back into the annuity business — have begun to outsource the manufacturing of fixed indexed annuities to marketing groups
Illinois’ top insurance cop to run Federal Insurance Office
The Treasury Department has chosen Michael T. McRaith, Illinois’ chief insurance regulator, as head of the new Federal…
‘Fire sale’ probably helped ignite surge in VA sales
Advisers notified clients about planned reduction in features, hike in fees
Can LPL crack the code? B-D launches expanded fee-based VA platform
The indie B-D is bucking the trend with the launch of its expanded fee-based VA platform. A single fiduciary standard will likely improve the odds of success
Axa Equitable, Wilshire Associates form fiduciary dynamic duo
Axa Equitable Life Insurance Co. has paired up with Wilshire Associates Inc. to give small and midsize retirement plans access to fiduciary services.
Advisers advising, but boomers not buying, survey finds
Sure, everybody complains about the weather, but nobody does anything about it. The same can be said…
Putnam goes up against Pimco with fund for VAs
Absolute Return 500 aims to tamp down volatility
N.Y. Life to release longevity annuity product
New York Life Insurance Co. expects to release its first longevity insurance product this July, according to Chris…
Insurer to tap athletes to fill its agent bench
Hoping to strengthen its agent force, The Northwestern Mutual Life Insurance Co. has paired with Career Athletes LLC to recruit students as interns and agents
The Hartford nabs VA product development pro
The Hartford has hired Jackson National Life Insurance Co.'s variably annuity product development chief Steve Kluever.
Ex-Allstate agent sues for $15M, alleges “hostile takeover” of his business
Veteran insurance agent Paul A. Mattus has filed suit against The Allstate Corp., claiming that the carrier had muscled him out of his book of business in order to pass it on to a newer, younger agent.
N.Y. Life to release longevity annuity product
Worried about outlasting your savings? Worry no more; N.Y. Life has you covered
Top tax rate would go sky-high under new proposal
Rep. Schakowsky want big increase in marginal rates for millionaires, billionaires
Top tax rate would go sky-high under new proposal
U.S. millionaires would face an annual income tax increase of at least 10% under a deficit reduction measure proposed by Rep. Jan Schakowsky, R-Ill
You having a laugh, mate? U.K. proposes $225 a week flat-rate state pension
The U.K. government proposed replacing its current means-tested state pension with a flat-rate payment of about 140 pounds ($225) a week, with the goal of increasing incentives for people to save for their old age.
No stalling on VA transfers, judge warns insurer
A recent court decision against Pacific Life Insurance Co. may give advisers and broker-dealers legal leverage against insurers that take too long to perform Section 1035 exchanges of variable life policies.
Workers making a hash of nest eggs
Retirement funds not even close to what employees say they'll likely need; confidence level lowest in 20 years
Alleged lack of records costs A.G. Edwards $755K in VA dispute
A.G Edwards, a unit of Wells Fargo, agrees to settle charges filed by Missouri regulators arising from the sales of variable annuities to seniors