Banks that sold insurance last year reaped higher profits than those that didn’t, according to a study from the Bank Insurance Market Research Group.
The slumping economy is causing even state and local government employees, who typically get traditional fully loaded pensions, to hold off on retirement, according to a survey released today.
The government's unprecedented "stress tests" of the 19 largest U.S. banks should bolster Americans' battered confidence in U.S. banking system, Federal Reserve Chairman Ben Bernanke said today as he defended the rigor of the exams.
Great-West Lifeco Inc., the Winnipeg, Manitoba-based parent company of Putnam Investments of Boston, is looking for acquisition opportunities among U.S. and British life insurance companies, president and chief executive Allen Loney told the Globe and Mail newspapers of Toronto.
More than $24 billion in additional estate taxes would have to be paid from fiscal 2010 to fiscal 2019 under a budget proposal for the next fiscal year released Monday by the Obama administration.
The Internal Revenue Service has delivered two revenue rulings to help determine the tax hit on life settlements.
Insurers are rolling out adjustments to their variable annuity products — this time with an air of caution.
The New York-based ratings agency cut the carrier’s grade following Phoenix’s announcement of a first-quarter operating loss of $117.8 million and a $143.9 million — or 17% decline — in statutory surplus and asset valuation reserves,
Longtime insurance and annuity expert Jerome “Jerry” S. Golden, president of the income management strategies division and a corporate vice president of MassMutual’s retirement income division, is retiring.
Investment losses and subprime mortgage impairments drove Genworth Financial Inc. to a first-quarter loss, and the insurer says it plans to sell up to 49 percent of its Canadian mortgage business to raise cash.
Lincoln National Corp. ended the first quarter in the red, citing a $600 million charge on the impairment of goodwill in its annuity business.
Marsh & McLennan Cos. said today it returned to profitability in the first quarter, bouncing back from a loss a year ago when it absorbed a big write-down. But the latest results fell short of Wall Street expectations.
As Congress starts to take up health care reform, a group representing health insurance agents is voicing its dissent over President Obama's call for universal health insurance.
The two largest organizations of financial planners are looking at ways to give members discounts on several kinds of insurance.
American International Group Inc. is considering closing down parts of its mortgage insurance unit following a failure to offload it, Bloomberg reported.
In order to keep the individual annuity market alive amid economic turmoil, insurance companies will need to readjust their product risk, distribution and cost structures for the product, according to a report from Conning Research & Consulting.
Impaired intangible assets will continue to pressure insurance companies as earnings continue to erode, according to a report from Moody’s Investors Service in New York.
Managed-care company Aetna Inc. said today its first-quarter profit rose slightly due to membership gains and premium increases, even though the company saw higher-than-expected medical costs.
