The Minnesota Commerce Department claims that the insurer sold 541 contracts worth $28 million that weren't OK'd by state
Steep rate hikes are coming for long-term-care policies written a decade ago.
Even as long-term care costs skyrocket, many Americans have unrealistic plans for how they expect to pay for those services, according to a new survey from the Life Foundation.
New data finds that more than 2 million individual life insurance policies were sold via the Internet, direct mail and telephone.
The nascent secondary market for annuities and their guaranteed benefits could be stunted as the result of a vote last week by state insurance regulators to allow carriers to terminate the annuity benefits if a client sells the contract.
Fee income from annuity sales climbed at bank holding companies during the first three quarters of 2009, but sales of fixed annuities in the bank channel slipped, according to two separate studies released last week.
After two successive profitable quarters, the besieged insurer reports a loss of nearly $9B in the fourth quarter.
The Certified Financial Planner Board of Standards Inc on Friday placed Oren Eugene Sullivan Jr. under interim suspension, keeping the ex-broker from using its credentials.
American International Group Inc. is launching a plan to revamp how it arrives at incentive pay for its workers, according to the NY Times.
MetLife Inc. is in the final stages of talks with American International Group Inc. about a deal to buy AIG subsidiary American Life Insurance Co. for about $8 billion in stock and access a bridge loan, according to published reports.
Shares of MetLife slid Wednesday, a day after the insurer confirmed that it's in talks with American International Group Inc. about buying the American Life Insurance Company.
American International Group Inc. is set to pay out about $100 million in a fresh round of bonuses to employees of its financial products division, the unit whose risky bets helped sink the company leading to a $180 billion government bailout, according to reports published Tuesday.
And there's a 5% chance the tab could top $570K, according to a sobering study published this week by Boston College.
Trade associations representing the life insurance industry and agents last week applauded New York's passage of life settlement legislation.
President Barack Obama's health plan proposal would extend Medicare taxes to the investment income of higher-earning households.
With the sale of Dresdner Bank now well behind it, Allianz appears to be back on track. Proof? The Pimco and Oppenheimer parent recorded close to a $6B profit in 2009.
Shares in insurer Swiss Life Holding jumped Monday on reports that German rival Allianz SE is planning to make a takeover bid.
In an attempt to pull further away from the transactional nature of annuity sales, brokerage executives are using tools to help their financial advisers fit product sales into a planning context.
Last week, AIG announced it was unloading its Asia-based operations. On Monday, the embattled insurer agreed to sell its Alico unit to MetLife for $15.5B. Is Nan Shan next?
