Delivering a message that his audience probably didn’t want to hear, Paul Kanjorski, D-Penn, chairman of the House Capital Markets Subcommittee, said that federal insurance regulation is inevitable.
Worldwide sales for Aviva PLC rose to 10.3 billion British pounds ($15.1 billion) in the first quarter, up 5% from a year earlier, buoyed by sales of life insurance and pensions.
Only a buyout — preferably one by Allianz SE of Munich, Germany — will rescue The Hartford (Conn.) Financial Services Group Inc., wrote Bob MacDonald, former chief executive of Allianz Life of North America and Allianz Income Management Services, both in Minneapolis.
The term "bailout" has taken on new meaning for financial advisers as they devise ways to free clients from underperforming variable annuities, but the path to freedom is paved with possible tax complications and worries about account churning.
American International Group Inc. of New York has appointed Matthew E. Winter vice chairman, transition planning and administration, replacing Richard H. Booth, who retired.
The Hartford (Conn.) Financial Services Group Inc. has approached its rivals in recent weeks searching for a buyer for its property/casualty unit, Bloomberg reported.
A critique of state regulatory missteps from The Allstate Corp.’s Tom Wilson, did not sit well with Michael T. McRaith, director of the Illinois Division of Insurance.
The Phoenix Cos. walked away from TARP assistance after a bank it was hoping to acquire failed and was seized by the Federal Deposit Insurance Corp.
Mergers and acquisitions in the U.S. insurance industry lost value last year, while non-U.S. transactions plummeted, according to data from Conning Research and Consulting.
Insurance stocks have outperformed the overall market during the past four weeks, but financial advisers are reluctant to jump in.
Last week's layoffs and consolidation of key areas of operation at the three broker-dealers of the AIG Advisor Group only add to the confusion and uncertainty surrounding the network's future and the fate of its more than 6,000 representatives and financial advisers, sources said.
Insurance companies that have been eliminated from the TARP pool are running up against a new obstacle: financial advisers who are reconsidering whether they want to do business with them.
Requiring annuities or other fixed-income products be included as an option in 401(k) plans is being considered by the House Education and Labor Committee, said Rep. Robert Andrews, D-N.J., chairman of the committee’s Health, Employment Labor and Pensions Subcommittee.
MetLife Inc. has backed out of the Department of the Treasury’s Troubled Asset Relief Program, saying its strong balance sheet shows it doesn’t need federal aid.
The Richmond, Va.-based insurer’s shares fell as low as $1.92 in this morning’s trading, as the impact of Genworth’s ineligibility for help through the Department of the Treasury’s Troubled Asset Relief Program took hold.
Although life insurers may be able to get a federal lifeline through the Troubled Asset Relief Program, it remains to be seen whether the money would be enough to help carriers survive mounting losses and decreased financial flexibility.
Genworth Financial Inc. won’t be able to participate in the Department of the Treasury’s Troubled Asset Relief Program.
American International Group Inc. said Wednesday that it completed the sale of its retail bank and credit card operations in Thailand for about $45 million in proceeds.
For most of us, the best alternative to a prescription sleep inducer is a discussion about insurance.
Lincoln National Corp., which paid off a $500 million debt just yesterday, today said it is considering whether to sell assets in an effort to bolster its insurance businesses.
