Three life and health insurers have become financially “impaired” so far this year and more carriers are expected to follow, according to a report by A.M. Best.
The Nebraska Supreme Court has ruled against a group of investors who tried to muscle a state guaranty association into paying about $1 million for the group's failed viatical investments.
Although carriers' acceptance into the TARP program has led to share price gains and cautious approval from ratings agencies, some financial advisers are still keeping the insurers' products and securities at arm's length.
Rep. Paul E. Kanjorski, D-Pa., today reintroduced the Insurance Information Act of 2009, which would establish a federal Office of Insurance Information.
Merrill Lynch Life Agency Inc. will pay the Illinois Division of Insurance $18 million to settle a state investigation into the firm’s role in an imploded trust that was supposed to cover consumers’ funeral expenses.
John Grady has joined New York Life Insurance Co. as a senior vice president in charge of mergers and acquisitions in the company’s corporate finance department.
The Allstate Corp. of Northbrook, Ill., today declined the Department of the Treasury’s approval to participate in TARP.
The Nebraska Supreme Court Friday ruled against a group of investors that tried to muscle a state guaranty association into paying about $1 million for the group’s failed viatical investments.
Chief executive Ramani Ayer today told employees in an internal memorandum that the insurance juggernaut, which has limped its way through dismal financial results and devastating investment losses, has decided to hold on to both units.
First-quarter sales of index annuities hit $7 billion — down 2.1% from the fourth quarter but up 22.8% from a year earlier, according to research from AnnuitySpecs.com.
