Keeping track of rogue brokers is a tricky business, particularly when they leave or are booted from the confines of the securities industry, but keep peddling financial products.
Rep. Paul E. Kanjorski, D-Pa., today reintroduced the Insurance Information Act of 2009, which would establish a federal Office of Insurance Information.
A state senator wants Florida's insurance commissioner to resign, calling him "duplicitous and untrustworty" in a letter to Gov. Charlie Crist.
Legislation that would allow insurance agents to be registered by a single national licensing organization was introduced today in the House of Representatives.
John Grady has joined New York Life Insurance Co. as a senior vice president in charge of mergers and acquisitions in the company’s corporate finance department.
Merrill Lynch Life Agency Inc. will pay the Illinois Division of Insurance $18 million to settle a state investigation into the firm’s role in an imploded trust that was supposed to cover consumers’ funeral expenses.
The Allstate Corp. of Northbrook, Ill., today declined the Department of the Treasury’s approval to participate in TARP.
The Nebraska Supreme Court Friday ruled against a group of investors that tried to muscle a state guaranty association into paying about $1 million for the group’s failed viatical investments.
Chief executive Ramani Ayer today told employees in an internal memorandum that the insurance juggernaut, which has limped its way through dismal financial results and devastating investment losses, has decided to hold on to both units.
National Planning Holdings Inc., the Santa Monica, Calif. independent broker-dealer network, saw its revenue slip 15% during the first quarter, to $136 million from $159.9 million a year earlier.
First-quarter sales of index annuities hit $7 billion — down 2.1% from the fourth quarter but up 22.8% from a year earlier, according to research from AnnuitySpecs.com.
Following the departure of a major annuities expert and the elimination of some variable annuity riders, Massachusetts Mutual Life Insurance Co. is mulling the future of its role in the VA marketplace.
The lack of a uniform fingerprinting requirement for insurance agents and brokers may serve as new ammunition in the battle over federal regulation of the insurance industry.
Six major insurance companies yesterday received preliminary approval from the Department of the Treasury to participate in the Troubled Asset Relief Program, according to published reports.
First-quarter overall annuity sales rose 8% to $2.6 billion at Jackson National Life Insurance Co. year over year, propelled by large gains in traditional fixed-annuity sales.
Members of Congress today weighed the implications of the federal government’s regulating the insurance industry.
The insurance giant has reduced but not eliminated the risk that its failure could pose to the global economy despite getting more than $180 billion in federal bailout aid, Edward Liddy is expected to tell Congress today.
The Munich, Germany-based insurer said net profit in the January-March period was €29 million ($40 million) compared with a profit of €1.15 billion in the first quarter of 2008.
The Dutch bank and insurer blamed loss on falling asset prices, the weak performance of insurance contracts and restructuring charges.
