B-Ds, advisers let loose on the insurer about its attempt to entice clients to switch from one variable annuity to another. The chief complaints: the timing of the letter to clients and the features of the new VA.<br> <a href=http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20100901/FREE/100909996&plckFindCommentKey=CommentKey:f6e094fc-0f50-474b-aa13-8ce8ab8116d3#CommentKey:f6e094fc-0f50-474b-aa13-8ce8ab8116d3>Readers clash over the controversy</a>
Financial advisers are fuming over a letter The Hartford sent to clients which entices them to swap their variable annuities for a replacement. Why so angry? Advisers say the new VA actually strips away generous guarantees.
Connecticut insurance commissioner Thomas R. Sullivan will look into whether The Hartford participated in “misleading practices” in its marketing of a new variable annuity, the commissioner's office announced today.
New York Life Insurance Co. was the top seller of fixed annuities during the second quarter, with $1.74 billion in sales, according to Beacon Re-search Publications Inc.
Reports began circulating on Aug. 27 that Manulife — John Hancock Financial Services Inc.'s parent company — was gearing up to buy Lincoln National Corp.
The Hartford Financial Services Group Inc. is disbanding its distribution arm, Hartford Life Distributors, and decentralizing its wholesalers to four recently established business units.
After her mother died, Jasmine Williams was assured by MetLife Inc. that her $101,819 in life insurance benefits were safe and was sent what the company called a guaranteed money market “checkbook” in 2002.
The tax impact on carriers will encompass about 1% to 2% of their total earnings, assuming an annual tax of about 4 basis points.
Stock market volatility has caused some advisers to shy away from the sexiest life insurance policies — variable universal life and variable life — and to steer clients to a tamer cousin, universal life.
Management at Northwestern Mutual Life Insurance Co. has decided that Russell Investments is not a core asset and is seriously considering putting the $140 billion asset manager up for sale, according to a number of investment bankers and industry observers.
After seven years as editor of this publication, I have come to learn that our readers aren't shy. During that time, I have been on the receiving end of some strongly worded letters and e-mails from subscribers who didn't see eye to eye with me on one of my columns or with an <i>InvestmentNews </i>editorial.
The cost of liability insurance is expected to increase up to 20% at some broker-dealers in response to rising arbitration claims by investors after the market crash.
The Hartford Financial Services Group Inc. has named Sharon Ritchey head of retirement plans in its wealth management division, replacing Jamie Ohl.
John C. Walters is being replaced by David N. Levenson, an executive vice president leading The Hartford's in-force domestic variable annuity business.
You'd think $3M or so in investible assets would make a person feel rich. Not so, say the well-off.
Connecticut's insurance regulator yesterday shot back at critics of insurers' use of so-called retained asset accounts.
New York Life Insurance Co. was the top seller of fixed annuities during the second quarter, with $1.74 billion, according to Beacon Research Publication Inc.
Groups argue the Harkin amendment would undermine the goal of strengthening the standard of care for investors.
Annuity sales skyrocketed during the second quarter at Prudential Financial Inc., thanks to a push to expand distribution relationships in the bank and wirehouse channels.
