Insurance regulators in New York are joining Connecticut's insurance commissioner in examining whether The Hartford made improper disclosures or engaged in misleading practices in its marketing of a new variable annuity.
Bill marks first attempt to update law since 1986; would likely lead to fewer amended returns
Employers expect compliance with the health care reform law to account for nearly one-third of the projected 10% average increase next year in health benefit costs, but most are taking steps to keep that increase at or below 6% — a move that will cause many to lose grandfathered status, according to a survey by Mercer LLC.
Although it is common, and perfectly legal, for insurers to prune funds from their VA menus periodically, financial advisers say the practice is increasingly thwarting their ability to put clients in the best possible funds.
Prudential Plc, the U.K.'s biggest insurer, promoted Mike Wells to chief executive officer of its U.S. division and appointed two new non-executive directors as it reorganizes the board after a failed takeover bid in Asia.
Attorneys also predict insurer's marketing of new VA will trigger lawsuits; 'half-baked solicitation'
Study reveals which locales will end up with highest total marginal tax rates; Hawaiian punch
The Tax Foundation, a Washington research group that advocates for lower taxes, said state, local and federal levies would result in a tax rates of nearly 50% in some states' top earners.
In two cases involving the hedging of appreciated stock positions, the U.S. Tax Court recently ruled that the investors who took the cases to court should be taxed as if they had sold their stock at the time that they entered into the hedging transactions.
Citigroup Inc.'s private bank will triple the number of hedge funds such as Paulson & Co. that its wealthy clients can invest in, under a push to increase money-management revenue.
While life insurers continue to cling to their cash, a boom in mergers and acquisitions may be just around the corner, according to an analyst with Moody's Investors Service Inc.
Move frees company to focus on asset management; insurance less profitable
The Hartford Financial Services Group Inc. is disbanding its distribution arm, Hartford Life Distributors, and decentralizing its wholesalers among four recently established business units.
Long-term care insurance is considered a valuable benefit by employees, but advisers seldom share their enthusiasm.
For Tori Fontenot, the clarion call to consider long-term-care insurance for herself and her husband came as she tried to coordinate care for her elderly mother.
Florida measure empowers state to revoke licenses of brokers who have run afoul of various agencies
Investment advisers' confidence in the financial health of the insurance industry — though still underwhelming — is on the rebound, according to the <i>InvestmentNews </i>2010 Insurance Product Survey.
UBS AG, Switzerland's largest bank, is putting more focus on its richest clients in Asia and bringing its investment bankers closer to asset managers to meet their demands.
The Buckingham Family of Financial Services today announced a merger with Wealth Management Consultants LLC.
Officials who are seeking to revive the New York Insurance Exchange may be moving away from earlier discussions of favorable tax treatment for participants, according to preliminary recommendations that indicate what shape the facility may take.
