Having taken over as chief executive of American International Group Inc.'s Domestic Life and Retirement Services, Jay S. Wintrob has assured employees in a letter that SunAmerica and VALIC products will be back on distributors' shelves.
Despite an improving economy, losses and investment risks continue to loom ahead for life insurers' investment portfolios, according to a report from ratings firm A.M. Best Co. Inc.
Even as they fight a rule that would treat indexed annuities as securities, many insurers are pre-paring their agents to become registered representatives, should the rule become law.
New arbitrations filed with Finra surged in 2009 to 7,137 cases, up from 4,982 cases in 2008, according to statistics recently released by Finra. That's a 43% gain.
Life insurance agents' advocacy groups teamed up this month to ask Senate Banking Committee Chairman Christopher Dodd, D-Conn., to reconsider a legislative provision that would require life agents to become registered investment advisers.
The broker-dealer channel is in the cross hairs of Sun Life Financial Inc. as the company aims to bolster its ranks of variable-annuity wholesalers and reach out to broker-dealers as a new channel for life insurance sales.
Although Aviva USA Corp. already has an established strength in its lineup of indexed products, the insurer has its eye on the next innovation: a guarantee wrapper with a managed account or 401(k), according to chief executive Christopher J. Littlefield.
Officials for Aviva PLC, the London-based insurer, today said it will become a listed company on the New York Stock Exchange on Oct. 20.
Christopher J. Littlefield has been named the chief executive of the insurance company Aviva USA.
