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.
Your client filed her federal tax return by April 15 but did not include a check for the amount due, because she did not have funds available. She has come to you for advice as to how to proceed.
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.
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.
What’s the future of the estate tax after 2009? This is a question that your clients have probably been asking a lot lately because the estate tax is scheduled to sunset in 2010 and then rise again like a phoenix in 2011 at higher tax rates and with a substantially lower unified exemption credit equivalent, or estate tax exemption, of $1 million.
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.
There is a crisis in defined contribution retirement plans. In addition to devastating market losses, employers are ceasing their matches.
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.
With regulation of the financial planning industry all but a certainty, a coalition of industry groups is cobbling together a proposal to make the Certified Financial Planner Board of Standards Inc. the rule setter and enforcer for the nation's hundreds of thousands of unregulated planners.
The idea to offer free financial planning to unemployed professionals came to Robert Fragasso when he was counseling a man who was on the verge of losing his house.
Middle-class taxpayers likely will face a wide swath of tax increases in the years ahead, according to economists at The Brookings Institution.
Running a successful family financial advisory business is much tougher than the smiling portraits posted on many firm's websites would lead a client or prospect to believe.
Only a few months into fiscal year 2009, 44 states reported this month that they face a combined total of $62.4 billion in budget gaps, according to a report from the National Conference of State Legislatures.
American International Group Inc. of New York has appointed Matthew E. Winter vice chairman, transition planning and administration, replacing Richard H. Booth, who retired.
Advisers need to work harder to include their clients’ heirs in estate plans because 92% of heirs change advisers once they receive an inheritance, according to one industry leader.
The effort is an attempt by the financial planning industry both to legitimize itself as a regulated profession and reverse the growing impetus of the Financial Industry Regulatory Authority Inc., which oversees securities brokers, to expand its domain to planners and advisers.
