Results for "insurance"

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Life insurers starting to focus sales on the middle market

September 25, 2006

NEW YORK - Most rich people have life insurance, and most poor people can't afford it, so policyholder-starved insurers are homing in on the middle market. Among the reasons that new policyholders are being sought is to make up for lost revenue...

Retirees may be untapped life insurance market

September 18, 2006

NEW YORK - Life isn't just for the young, and neither is life insurance. About 60% of 1,000 people close to retirement said they needed life insurance to provide for a dependent such as a child after their death, according to a survey released...

Term life and VAs top advisers' Rx list

September 11, 2006

NEW YORK - The vast majority of financial advisers recommend term life insurance instead of whole life to clients, and those who recommend annuities prefer variable over fixed. Those were among the findings of the second annual "Use of Insurance...

New way for individuals to invest in hurricane risk

September 5, 2006

NEW YORK - Weather-related investing, now dominated by hedge funds, has been made available to the masses. HedgeStreet Inc. of San Mateo, Calif., announced in August the opening of its online retail market for trading Atlantic Ocean hurricane...

Banks become hot target for insurers' annuity sales

September 5, 2006

NEW YORK - Life insurers are adopting a "no annuity gets left behind" strategy in selling through bank branches, according to industry marketing executives. Not only are insurers getting their foot in the door at additional banks, they are also...

War of words ensues over equity index annuity

August 28, 2006

NEW YORK - An annuity marketing group is demanding that a rating firm retract damaging statements about the group and its new equity index product. The Annexus Group in Scottsdale, Ariz., which comprises a dozen "independent marketing organizations,"...

Weather risk investors breathing sigh of relief

August 28, 2006

NEW YORK - As we mark the one-year anniversary of Hurricane Katrina this week, hedge funds and private-equity firms that invest in weather risk are giving thanks for the benign - at least so far - Atlantic hurricane season. But there is still...

Fear of family financial ruin is a potent LTC weapon

August 21, 2006

NEW YORK - Financial advisers trying to convince clients to purchase long-term-care insurance are learning what mothers have known all along: Guilt can be an effective form of persuasion. More than two-fifths of respondents to a survey by Mutual...

Equity index troubles spark Allianz layoffs

August 21, 2006

NEW YORK - Broker-dealer anxiety over complying with NASD regulation is causing once-highflying equity index annuities to lose some of their luster, prompting layoffs at the industry's largest EIA insurer. Minneapolis-based Allianz Life Insurance...

Equity index issuer pins slump on NASD

August 14, 2006

NEW YORK - The nation's third-largest seller of equity index annuities is pointing a finger at NASD for a 32% drop in annuity sales during the second quarter. Sales of annuities at American Equity Investment Life Holding Co. plummeted to $517.7...

Premium cuts stifled on HSA-linked plans

August 14, 2006

NEW YORK - Even with a high deductible, insurance plans sold in conjunction with health savings accounts often are too costly, industry observers say, as hoped-for premium cuts of 50% or more have failed to materialize. Premium cuts from switching...

Canadian insurer sues U.S. firms for $5 billion

August 14, 2006

OTTAWA - A Toronto-based insurance company is seeking $5 billion in damages from a number of U.S. hedge funds and investment bankers, alleging that they participated in a short-selling scheme that "severely harmed" the company. On July 14, the...

Life insurance biz spawns 'superadvisers'

August 14, 2006

NEW YORK - The life insurance discipline is spawning a new breed of "superadviser" for the rich, according to the head of an adviser consulting firm. "People look at me like I'm from Mars when I tell them that the best advisers are those with...

NASD amends controversial deferred VA rule

August 7, 2006

IRVINE, Calif. - Although NASD has amended a controversial proposal that would boost standards involving the sale of deferred variable annuities, some industry interests continue to put up a fight. In comment letters filed last month, more than...

Equity index risk may sour AmerUs deal

July 24, 2006

NEW YORK - The largest British insurer may acquire a king-size regulatory headache as a side effect of buying a major U.S. equity index annuity provider, according to several industry analysts. Aviva PLC, based in London, announced this month...

Insurers and banks become wary bedfellows

July 24, 2006

NEW YORK - With the financial-supermarket concept once championed by New York-based Citigroup Inc. now dead - or at least dormant - insurers and banks are looking for new ways to get into each other's businesses. That is the essence of "The...

Nearly 70% ill-prepared to meet LTC needs, survey shows

July 17, 2006

NEW YORK - Despite the recent publicity surrounding rising nursing-home and other long-term-care costs, nearly 70% of Americans refuse to buy LTC insurance or adequately plan for future care. That was a key finding of a survey of 1,000 U.S....

Insurers on prowl for deals

July 17, 2006

PHILADELPHIA - The race for baby boomers' retirement assets soon may ignite a pickup in deal making between insurance companies and asset managers. The Mutual of Omaha Cos. is on the prowl for an asset management company, possibly one that runs...

Senate holds powwow on insurance regulation

July 17, 2006

WASHINGTON - The Senate Banking Committee last week held the first of a series of hearings this year on modernizing insurance regulation, looking particularly at whether insurers should be given the option of being federally regulated. The committee...

Sideways-market study: EIAs top stock indexes

July 17, 2006

NEW YORK - Some equity index annuity advocates are attempting to bolster EIAs' shaky reputation among potential clients and regulators by back testing to show their allegedly superior investment performance in a sideways market. A consultant...

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