Results for "hartford financial services group"

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Ameriprise offloads $1.7 billion in fixed annuities

March 20, 2019

Ameriprise Financial Inc. has offloaded $1.7 billion in fixed-annuity liabilities to Global Atlantic Financial Group, representing roughly 20% of the company's fixed-annuity account balances, the firm announced Tuesday. Commonwealth Annuity...

Great-West sells life insurance and annuity business for $1.2 billion

January 24, 2019

Great-West Life & Annuity Insurance Co. has agreed to sell the bulk of its individual life insurance and annuity business to Protective Life Insurance Co. for an estimated $1.2 billion, via a reinsurance transaction, according to a company announcement...

Annuity group says Ohio National poses risk to industry

December 18, 2018

The Insured Retirement Institute, an annuity industry trade group, said recent business decisions Ohio National Financial Services Inc. has made around its variable annuities poses a risk to the broader annuity industry. Ohio National stunned...

Private equity eyes long-term care insurance

November 16, 2018

Private-equity investors are eyeing insurers' long-term-care business with increasing fervor, according to insurance executives and analysts, which could present problems for financial advisers whose clients hold affected policies. "A lot of...

Ohio National offers new round of variable annuity buyouts

October 29, 2018

Ohio National Financial Services Inc. is offering buyouts to some variable-annuity customers, a move that some industy experts believe is related to a recent announcement that it would be cutting advisers' trail commissions by the end of the...

Ohio National stokes adviser fears over annuity trail compensation

October 23, 2018

It's been a few weeks since Ohio National Financial Services Inc.'s bombshell announcement around annuity trail compensation, and financial advisers are still trying to make sense of its implications for them and the broader industry. One question...

Insurers are selling off old annuity business — what advisers need to know

May 23, 2018

Insurance companies have been selling old blocks of annuity business at a rapid clip, and it's likely the quick pace of transactions will continue at least through this year and possibly beyond. This could ultimately be bad news for policyholders...

Insurers still grappling with costly variable-annuity promises

April 13, 2018

Insurance companies are still trying to wriggle out of promises made years ago to consumers of their variable-annuity products, as certain contract features have proven too generous in light of market conditions such as persistently low interest...

Advisers fear private equity's reach into VAs

December 20, 2017

Editor's note: This story has been updated with information about the sale of Voya Financial's annuity business. Financial advisers have expressed alarm over recent reports of insurers looking to offload large blocks of variable annuities to...

The Hartford wins excessive-fee lawsuit

March 1, 2017

The Hartford Financial Services Group Inc. has prevailed in a lawsuit alleging the firm charged excessive fees in its investment funds, in one of many similar lawsuits filed against insurance companies within the past several years. Judge Renée...

Many acquisitions of DC record-keeping businesses lose luster over time

February 22, 2017

Companies that once swallowed up DC record keepers and other benefits businesses to diversify, expand and increase shareholder value are now regurgitating them to consolidate — again to increase shareholder value. The latest example is Aon...

Four life insurers will pay $3.4M to settle probe over death benefits

August 5, 2016

State insurance regulators have reached settlements with four life insurance companies regarding payment of unclaimed death benefits, terms of which include paying an aggregate $3.4 million. The Hartford Financial Services Group, Securian Financial...

Carl Icahn calls for AIG to split itself up into three companies

October 28, 2015

Carl Icahn, the billionaire investor known for picking fights with corporate boards, disclosed an investment in American International Group Inc. and said it should split into three companies, one offering property-casualty coverage, another...

MassMutual beefs up DCIO effort, extending reach into retirement plans

April 14, 2015

MassMutual Retirement Services is sprinting into the world of defined contribution investment-only services, pushing for greater recognition of its investment capabilities. The DCIO effort, announced Wednesday, was officially launched during...

Hartford Financial Services offers to pay employees to give up their pensions

October 28, 2014

Hartford Financial Services Group Inc. (HIG) is working to reduce its retirement obligations by paying former employees to give up their pensions. Last month, the insurer offered voluntary lump-sum payments to about 13,500 workers who had left...

What IBD consolidation means for advisers

September 9, 2014

Consolidation in the independent broker-dealer universe has continued at an all-time high over the past few years, but the trigger points are not what they used to be. Going back to 2008 to 2012, many broker-dealers were faced with simply trying...

Hartford Financial Services Group names a new CEO

June 9, 2014

Hartford Financial Services Group Inc. promoted Christopher Swift to chief executive officer to replace Liam McGee, who is stepping down after a medical procedure related to a brain tumor. Mr. Swift, the 53-year-old chief financial officer who...

Variable annuity sales drop in 1Q and new leaders emerge

May 8, 2014

A new hierarchy is emerging on the variable annuities scene, as some of the largest sellers announce that their first quarter sales are down or flat. Prudential Financial Inc., which had once spent a few years as the number one seller of VAs,...

Hartford could expand buybacks after $895 million deal for Japan unit

April 28, 2014

Hartford Financial Services Group Inc. will probably expand share repurchases after agreeing to sell its Japanese operations to Orix Corp. for about $895 million. The U.S. insurer could repurchase $1.05 billion of stock, while paying down $350...

Strong signs e-signatures set for takeoff

March 6, 2014

The use of electronic signatures in the advisory industry will pick up speed in 2014, as providers improve their products, advisers and their clients get more comfortable with digital transactions and more financial services firms adopt the...

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