Companies that sell equity index annuities are preparing to take the Securities and Exchange Commission to court if the agency finalizes its proposal to regulate the products as securities.
Thirteen banking and insurance executives have been selected to join the Washington-based trade association’s board.
Second-quarter variable annuity sales fell to $41.9 billion, down 11.2% from the comparable period last year, according to NAVA Inc.
The bond ratings agency said it has “sufficient” cash and government securities to fund potential termination payments related to guaranteed insurance contracts even if the notes issued by its MBIA Insurance Corp. unit are downgraded.
Financial advisers could soon find themselves paying more for AIG's variable annuities.
Legislation that would set up the Office of Insurance Information within the Department of the Treasury has stalled in the House.
MetLife Inc. has some $800 million in exposure to the now-collapsed Lehman Brothers Holdings Inc. and the just-rescued American International Group Inc. and is assessing the recoverability of those investments.
After a weekend of turmoil, shares of American International Group Inc. lost more than half their value in the first hour of trading.
Wayne Christian figured the registered representatives of Center, a small town in eastern Texas, could use a business boost. He also thought its pension funds and endowments, which fund scholarships, needed some new investment options.
Lehman Brothers is verging on collapse, even as Bank of America is reportedly in talks to purchase Merrill Lynch and AIG hammers out its own rescue strategy.
Former AIG chairman and chief executive Maurice Greenberg and other former executives at the insurer will have to cough up $115 million as part of a settlement in a derivatives lawsuit with the Teachers’ Retirement System of Louisiana.
The Financial Planning Association and the National Association for Fixed Annuities have leapt into the fray, submitting comments on the SEC’s proposed index annuity rule.
Another independent-contractor broker-dealer is being sold — and this time an insurance company is pulling the trigger on the deal.
Manulife Financial Corp. of Toronto has named Donald A. Guloien to succeed Dominic D’Alessandro as president and chief executive officer.
The Phoenix Cos. Inc. of Hartford, Conn., today launched its suite of living-benefit riders, with two new additions.
Declining variable annuity sales will likely lead to enhancements to and new uses for VAs as carriers look for additional ways to appeal to high-net-worth investors.
Advisers are selling more insurance, particularly long term care insurance, according to the InvestmentNews 2008 Insurance Product Survey, which polled 445 financial advisers.
As the comment period ends this Wednesday on an SEC proposed rule that would regulate certain index annuities as securities, independent distributors are gearing up in anticipation of the rule's enactment.
Sun Life Financial Inc.’s U.S. division has launched its charitable estate planning campaign to teach advisers and clients about using life insurance for charitable purposes.
