Insurers increasingly are using trail commissions for fixed annuities to give finan-cial advisers an additional incentive to cultivate long-term client relationships.
Borrowers are turning to other providers, but don’t expect banks to die out any time soon, the Fed chief said today.
AIG has sued former chairman Maurice R. Greenberg and ex-CFO Howard I. Smith for more than $1 billion in damages, published reports said.
The Hartford Financial Services Group Inc. has tapped Thomas M. Marra to take on the combined position of president and chief operating officer.
More insurers are offering riders that include long-term-care coverage in life insurance policies.
One of AIG's subprime units settled with the Office of Thrift Supervision over inappropriate loans to some borrowers and excessive fees.
Prudential Financial today announced that it would close its equity research and trading business, with a loss of some 420 jobs.
MetLife Inc.'s Investors Group has promoted Elizabeth M. Forget to senior vice president, the insurer said today.
Great-West Life bought Boston-based Putnam Investments to obtain "instant recognition" in the U.S. market.
The fear of mergers-and-acquisition agreements’ going sour increasingly is being eased by insurance, according to industry experts.
NEW YORK — Advisers hoping to convince clients that they need a long-term financial plan should do their best to appeal to the prefrontal cortex of their clients’ brains — and steer clear of the limbic system altogether.
CHICAGO — Life cycle fever seems to be spreading from 401(k) plans to variable annuities. At ING Variable Annuities, for instance, assets in LifeStyle portfolios — which were introduced as ING-managed subaccounts in mid-2004 — reached $8 billion at the end of April, up from more than $4 billion at the end of 2005.
NEW YORK — A key roadblock to health savings account acceptance is that many people know little or nothing about HSAs and their required high-deductible health insurance plans, according to industry experts.
London-based HSBC, Europe’s biggest bank, has created a $100 million partnership to study the impacts of climate change.
New York Life Retirement Plan Services is taking a page from retailers like Amazon.com Inc. in order to better understand and predict employee retirement planning behavior.
New York Life Insurance Co. has announced promotions in its general counsel department.
A group of banks led by the Royal Bank of Scotland Group has formally launched a $95.6 billion bid for ABN Amro Holding.
Many advisers do not want to be assigned clients or territories based on their race, national origin or other personal traits — but they are comfortable with relationships that evolve naturally from those factors.
Aon Corporation announced today that chief financial officer David P. Bolger will leave the Chicago-based insurance broker after the appointment of his successor.
Other banks may follow Bank of America Corp.’s decision this month to cut mortgage clients’ borrowing costs drastically, including waiving the requirement for private mortgage insurance, industry observers say.
