Industry News

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NEWS OPINION MAY 15, 2008
Health care is part of wealth care

What would be the financial consequence if one of your clients lost his or her physical and/or mental independence?

NEWS LIFE INSURANCE AND ANNUITIES MAY 15, 2008
Mutual of Omaha to pay $1.5M in kickback case

The insurer settled with the Connecticut Attorney General’s Office following an investigation into its practices.

NEWS INDUSTRY NEWS MAY 15, 2008
Industrial production sharply down in April

U.S. industrial production fell 0.7% in April as the manufacturing sector recorded its worst drop in nearly three years.

NEWS INDUSTRY NEWS MAY 14, 2008
ING takes first-quarter hit

The firm posted a 19% drop year over year in first-quarter profit due to weaker returns in its real estate and private-equity businesses

NEWS INDUSTRY NEWS MAY 14, 2008
Prices rose slightly in April

The U.S. consumer price index inched up 0.2% last month, due largely to rising gasoline costs.

NEWS LIFE INSURANCE AND ANNUITIES MAY 14, 2008
Iowa cracks down on Stoli policies

Chet Culver, Iowa’s governor, has signed a law to discourage stranger-originated-life-insurance practices.

NEWS LIFE INSURANCE AND ANNUITIES MAY 13, 2008
AIG invests in Brazilian agriculture

AIG Investments has announced an $65 million investment in Calyx Agro Ltd., making its foray into Brazilian agriculture.

NEWS LIFE INSURANCE AND ANNUITIES MAY 13, 2008
AIG should delay meeting, ex-CEO says

"The shareholders need to absorb the significance of the company’s first-quarter losses,” said ex-chief Hank Greenberg.

NEWS INDUSTRY NEWS MAY 13, 2008
Société Générale, Fortis

French banking giant Société Générale earned $1.69 billion, down from $2.2 billion a year ago, but beating analyst estimates.

NEWS INDUSTRY NEWS MAY 13, 2008
Some retail sales up in April

Despite sky-high gas prices and a weakening job market, some retail spending rose last month.

NEWS INDUSTRY NEWS MAY 12, 2008
Bill to alleviate student loan crisis awaits Bush's signature

The College Savings Foundation's summit meeting of experts on college savings, loans and financial aid in Washington next week could not have been better-timed.

NEWS LIFE INSURANCE AND ANNUITIES MAY 12, 2008
Bank-owned life insurance at record levels

Bank-owned life insurance hit $120.4 billion in assets in 2007, up 15.9% from the previous year, according to Michael White Associates LLC.

NEWS INDUSTRY NEWS MAY 12, 2008
MBIA, Evercore and Stifel

Leading bond insurer MBIA Inc. lost $2.4 billion, or $13.03 per share, in the first quarter.

NEWS BROKER DEALERS MAY 12, 2008
Berthel Fisher's president, Jeff Auld, exits the firm

Jeff Auld, the president of Berthel Fisher and Company Financial Services Inc., has left the company for personal reasons.

NEWS LIFE INSURANCE AND ANNUITIES MAY 12, 2008
Insurance carriers gear up for VA product season

As the weather heats up in May, so does the competition among insurance carriers that are releasing new features for their variable annuities.

NEWS LIFE INSURANCE AND ANNUITIES MAY 12, 2008
Report: AIG unit mulls split

One of American International Group Inc.’s units is considering splitting from the insurer, The Wall Street Journal reported.

NEWS INDUSTRY NEWS MAY 12, 2008
SMAs continue to win over advisers despite drop in growth

In the midst of a pause in a decade-long growth spurt, the separately managed accounts industry continues to win over independent financial advisers, many of whom are generally wary of the products' complexity.

NEWS INDUSTRY NEWS MAY 09, 2008
Americans warily optimistic about economy

More consumers had a positive outlook about the economy, even as concerns about job security grew.

NEWS INDUSTRY NEWS MAY 09, 2008
Stifel nabs three reps from Wachovia

Larry Herring, Joe Hagen and Kenn Hugos were all legacy A.G. Edwards & Sons representatives in Phoenix.

NEWS INDUSTRY NEWS MAY 09, 2008
Happy days are near again, says Dimon

The financial crisis is "75% to 85% done,” according to Jamie Dimon, chairman and chief executive of JPMorgan Chase & Co.