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Jackson National extends variable annuity lead

August 19, 2014

Jackson National Life, owned by UK-based Prudential Plc, extended its lead in U.S. variable annuity sales at its unit as rivals scaled back. Jackson sold $12.7 billion of the retirement contracts in the first six months of 2014, an increase...

Impact investing gets a boost from Obama administration

June 25, 2014

The White House said Wednesday it wants to spur more impact investing by encouraging collaboration between government and private investors and by improving regulations. The Obama administration's steps include some of the suggestions from a...

Will tumult in Iraq unnerve clients?

June 16, 2014

Even though Sunni extremist fighters advanced deeper into Iraq over the weekend and President Barack Obama demonstrated reluctance to offer support to the Iraqi military, financial markets are treating the latest episode of global unrest as...

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...

Bill Gross bulls butt heads with bears in great bond debate

June 9, 2014

The gulf between bulls and bears has never widened so quickly in the $12 trillion market for U.S. government bonds. The proportion of investors betting on gains or losses in Treasuries, rather than holding a neutral view, almost doubled this...

Outlook for life insurance positive, depending on rates

June 5, 2014

The longer-term outlook for life insurance companies is a positive one — provided the companies can navigate low interest rates successfully. A poll of attendees at the Standard and Poor's annual insurance conference in New York on Thursday...

Japan's Dai-ichi Life to buy Protective Life for $5.7 billion

June 4, 2014

Dai-ichi Life Insurance Co. will buy Protective Life Corp. (PL) for about 582.2 billion yen ($5.7 billion) to expand into the faster-growing U.S. market, marking the biggest foreign acquisition by a Japanese life insurer. Dai-ichi, Japan's second-largest...

Former Fidelity COO Reynolds aims to oust former employer from top

May 27, 2014

Robert Reynolds, who built the industry's biggest 401(k) business while at Fidelity Investments, is seeking a reprise. The 62-year-old chief executive officer of Great-West Lifeco U.S. Inc. catapulted his firm to the No. 2 spot among 401(k)...

Genworth eyes new approach to long-term-care insurance rate hikes

May 22, 2014

Plenty of industry observers have questioned the staying power of the long-term-care insurance industry, but one insurance company executive believes that his firm may have cracked the code to get carriers selling again. Tom McInerney, chief...

Fund industry fights systemic-risk regulation

May 21, 2014

A trade group for fund companies launched a broadside against regulators who are considering designating some large fund managers as potential sources of disruption in financial markets. Mutual fund companies and Paul Schott Stevens, who leads...

Life insurers show their hands with new VA filings

May 20, 2014

You know spring has sprung when life insurers post new variable annuity filings with the Securities and Exchange Commission. This year, some life insurers are again offering generous living benefits plus new investment-focused annuities. Meanwhile,...

Can mutual funds be too big to fail?

May 15, 2014

If securities regulators designate asset management companies as potential sources of widespread disruption in the financial markets, it would reduce returns for investors by up to 25%, according to a report released Thursday. The study, conducted...

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...

Pimco loses another bond fund mandate

April 4, 2014

Pacific Investment Management Co. and Western Asset Management Co. were replaced as advisers on a bond fund they managed for consultant Mercer. The fund, formerly known as the Mercer Core Opportunistic Fixed Income Fund, had about $1.1 billion...

Investors scramble out of ETFs focused on U.S. Treasuries

March 30, 2014

Investors of exchange-traded funds that buy U.S. government debt are signaling their conviction the Federal Reserve is intent on raising interest rates sooner rather than later. After pouring into the ETFs to start the year, investors pulled...

Envestnet gets a lot of love from advisers and the Street

March 16, 2014

Investment advisers are flocking to Envestnet Inc. and have turned the asset management and technology company into a market darling. The company's stock price has soared in the past year. Shares of Envestnet traded at $15.55 on March 13, 2013....

Investors not buying gold bounce despite Ukraine tension

March 3, 2014

Gold's big jump and rising market volatility have put the metal back in the spotlight, but advisers and strategists are skeptical of a major comeback this year. “I get questions all the time from advisers and clients about what they should...

Republican tax plan would hit Wall Street hard

February 26, 2014

Dave Camp, the Republican House Ways and Means Committee chairman, is filling in the blanks in his plan to revamp the U.S. tax code and leaning on the financial industry to help pay for lower tax rates. Proposals that became public before the...

Gross, Gundlach: Contrarians expecting yields to fall

February 18, 2014

The world's biggest bond dealers are showing almost no confidence in the best annual start for Treasuries since 2008. While Treasuries have climbed 1.4% this year, Goldman Sachs Group Inc., JPMorgan Chase & Co. and the other 20 primary dealers...

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