Martin J. Sullivan, CEO of American International Group, has been ousted from the New York-based insurer.
Two of the brokerage industry's most prominent wealth managers have dumped their wirehouse broker-dealers, instead opting to become independent registered investment advisers, with more well-known advisers perhaps soon to take the same path.
Investors, bankers and real estate investment trust executives expressed cautious optimism as they gathered in New York recently to discuss commercial real estate prospects at this year's NAREIT Investor Forum.
The FPA says the rule would add confusion and conflict regarding standards of accountability to the investor.
Despite continued efforts to curtail litigation when brokers change firms, departing reps are still being sued, and some say that recent developments suggest the harassment won't stop anytime soon.
Supporters of simplified disclosures for variable annuities may get a boost from a proposal that state insurance regulators will soon consider.
Net assets in variable annuities have also risen, reaching $1.39 trillion, compared to $1.38 trillion in the first quarter of 2007.
First-quarter earnings hit $1.07 billion, the second highest level ever, a gain of $993.3 million from a year ago.
American International Group could hold an emergency meeting this weekend to discuss the future of chief executive Martin J. Sullivan, CNBC reported Friday.
Inflation rose 0.6% in May as skyrocketing food and energy prices boosted inflation by the largest amount since November.
Sky-high gas prices goosed retail sales in May, the Commerce Department reported.
Massachusetts Mutual Life Insurance has picked Bradley J. Lucido as its chief compliance officer.
A proposed Office of Insurance Information would just be the first step toward creating a federal insurance regulator.
Some 25 million U.S. adults with health insurance in 2007 faced financial stress due to insufficient coverage.
Both brokers and insurers bear responsibility for the suitability of variable annuity sales, but at different points in the sales process, industry officials said at a conference last week.
In a sign that the housing market may be set for a rebound, the pending home sales index increased 6.3% in April.
Three shareholders cited a “staggering breakdown of risk controls” and “an unequivocal loss of investor confidence.”
Industry leaders are divided on whether income options in 401(k) plans will succeed and become a popular product in the next decade.
Wirehouse brokers have had to respond to many changes in the industry in the past decade.
