Bank holding companies raked in $3.03 billion in insurance brokerage fee income during the first quarter, down from $3.21 billion a year earlier, according to a report.
Annuities will continue to take a back seat to other insurance and wealth management products at Genworth Financial, according to the insurer's finance chief.
MetLife Inc. ended the second quarter in the red, reporting a net loss of $1.4 billion, or $1.74 per share.
The Hartford (Conn.) Financial Services Group Inc. booked a $15 million loss, or 6 cents per share, for the second quarter.
An Ohio man has sued life settlements and insurance guru Barry Kaye's firm, alleging that the firm encouraged him to buy a $5 million life policy and left him hanging when it couldn't find a buyer on the secondary market.
Craig Raymond has joined John Hancock Financial Services Inc. as its new chief risk officer and chief actuary, effective immediately.
Though fewer catastrophe bonds were issued during the first half of 2009, investors may see more of these issuances in the second half of the year as the financial markets stabilize, according to a report from Guy Carpenter & Co. LLC and GC Securities, both of New York.
The Financial Industry Regulatory Authority Inc. has slapped Wells Fargo Investments LLC and four other investment firms with $1.65 million in fines for supervisory failures in mutual fund and variable annuity transactions.
The Life and Health Insurance Foundation for Education has chosen prime-time dreamboat Chris Noth as its national spokesman for Life Insurance Awareness Month in September.
In a dramatic re-branding, NAVA Inc., the trade group of variable annuity providers, last week changed its name to the Insured Retirement Institute and its focus to serving “the insured-retirement-strategies industry and consumers who rely on those guarantees.”
