Variable annuities, whose sales and asset levels slumped during the market downturn, showed signs of a comeback in the second quarter, according to data from the Insured Retirement Institute.
Though rep recruitment is up at the John Hancock Financial Network since the firm decided to embrace the independent adviser channel, recruiters remain skeptical as to whether independents will continue to flock to the company.
Total individual-annuity sales tumbled during the second quarter as carriers' new business slowed and fixed-annuity interest rates fell, although sales for all fixed annuities fared better, according to data from LIMRA.
A new life insurance product from The Phoenix Cos. Inc. covers two lives under one policy, providing a death benefit for a spouse or business partner.
Although members of the insurance industry and some broker-dealer executives are butting heads with state regulators on tougher annuity regulation, financial advisers cheered the proposed use of Finra-esque suitability layers for all annuity sales.
The declining value of fixed-income portfolios in a climate of rising interest rates will hinder life insurers' performance over the next two years.
Henry Waxman, chairman of the House Committee on Energy and Commerce, is asking executives at Genworth Financial Inc., The Guardian Life Insurance Company of America and MetLife Inc. to produce details on executives' pay.
American International Group Inc. has named Jay S. Wintrob president and chief executive of its Domestic Life and Retirement Services business.
Florida Atlantic University's College of Business yesterday stripped life insurance guru Barry Kaye's name from the school, according to published reports.
Advisers across American International Group Inc.'s three broker-dealers were stunned to learn that — contrary to all prior indications — the sale of the insurer's broker-dealer network would be scrapped.
A new life insurance product from The Phoenix Cos. Inc. covers two lives under one policy, providing a death benefit for a spouse or business partner.
Index annuity sales rose during the second quarter, hitting $8.3 billion, according to data from Advantage Group Associates Inc.
Values on fixed-income securities will fall, hindering life insurers' financial performance over the next two years.
Health insurer Aetna Inc. will need two years to bring its profit margins back to their former levels, an Oppenheimer analyst said today in a note to client.
Catastrophe bonds climbed Friday to their highest level of the year amid reports of calmer hurricane outlooks ahead, Bloomberg reported.
Three college students whose parents died are vying for a $5,000 scholarship from the Life and Health Insurance Foundation for Education.
Although many big variable annuity writers are fading from the market, New York Life Insurance Co. has decided to jump in with a new product as a strategy to gain favor with independent broker-dealers and registered investment advisers.
New York Gov. David A. Paterson has named James J. Wrynn the state's superintendent of insurance.
The Hartford (Conn.) Financial Services Group Inc. has named Dan Guilbert chief actuary of Hartford Life Insurance Co.
Massachusetts Mutual Life Insurance Co. made another round of job cuts this week in its Connecticut and Massachusetts offices, a spokesman said.
