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Insurance regulators to probe annuities sold to third parties
Insurance regulators state legislators plan to tackle the thorny issue of insurable interest with regard to annuity sales, preparing the groundwork for changes that could discourage stranger-originated-annuity transactions.
Will states crack down on stranger-originated annuities?
These investments — wherein a third party purchases an annuity with a death benefit and assigns a sickly person as the annuitant — came up at the group's 2010 Spring Meeting this week.
Goldman Sachs abandoning life settlements market
Goldman Sachs Group Inc. has retreated even further from the life settlements arena, shutting down Longmore Capital, its life settlements provider, according to reports.
Life insurance sales boom in first quarter
Shaken by the recession and concerned about risk, brokerage firm clients are buying life insurance.
Expanded wealth management platform in the works at The Hartford
Insurer looks to branch out with new products aimed at affluent customers, business owners
SEC inquiry sacks home health stocks
Shares of home health providers sank Wednesday as an investigation into the industry's Medicare reimbursement practices expanded.
Indexed-annuities amendment: Insurers yea, advisers nay
Congressional committee approval late last week of an amendment to the financial-reform bill maintaining state regulation of equity-indexed annuities drew mixed reaction, with insurers cheering the action and advisers largely opposing it.
Nationwide latest to sweeten its VA benefits
Nationwide Financial Services Inc. last week bumped up its variable annuity living benefits, signaling a return — for some carriers — to the generous benefits that backfired on insurers when the stock market imploded in 2008.
Committee votes to keep states in charge of indexed annuities
The proposal clarifies that the funds are insurance products that should be overseen by states rather than securities that should be regulated by the Securities and Exchange Commission.
Senate conferees approve Harkin amendment on equity-indexed annuities
Mr. Harkin's amendment would clarify that these funds are insurance products that should be overseen by states rather than the Securities and Exchange Commission.
Industry organization forms group to tackle new annuity rules
The group, comprising 60 to 70 representatives from broker-dealers and insurance companies, hopes to hash out a uniform solution to comply with the rules.
Insurers launch registered indexed annuities
Though it appears that regulatory oversight of equity-indexed annuities will remain with states — and not shift to the Securities and Exchange Commission — some insurers are nonetheless rolling out indexed-annuities that qualify as securities.
BP pressured to halt dividend payments; analysts label sell-off as ‘very irrational’
BP shares sunk Thursday in London as U.S. politicians pressed the British oil company to halt its dividend payments and fork out greater compensation for American workers and companies devastated by the massive Gulf of Mexico oil spill.
B-Ds may cut ties with insurers over annuity rules
As states prepare to roll out new annuity sales rules, broker-dealers are worried that insurers may dump additional…
Insurers cuffed by new annuity suitability rules
Many representatives and agents say the new requirements add to the already complex layers of review required by Finra.
No more regs needed for STATs: B-D exec
Stranger-originated annuity transactions have plenty of layers of oversight already, says ValMark Securities' Caleb Callahan
The middle years: Long-term care
There's no single solution for dealing with such a diverse age group. But in this clip from Digital Adviser2Adviser, we look at three key points to discuss with clients -- including long-term care.
Allianz CEO wants bigger piece of indexed-life market
Allianz Life Insurance Company of North America, already a major player in the indexed-annuity arena, is looking to…
Insurers press U.S. to allow annuities in pension plans
It should be easier for employers to include annuities in their retirement plans because Americans are at risk of outliving their savings, an insurer told Labor and Treasury department officials today