American International Group Inc. has released a letter Benmosche sent to employees Wednesday following a Wall Street Journal report that said he was threatening to quit. The Journal said Benmosche has been frustrated by heavy government oversight and cumbersome restrictions on executive pay.
Massachusetts Mutual Life Insurance Co. announced another series of terminations this week, cutting back 160 posts in its Enfield, Conn., and Springfield, Mass., offices.
A recent bankruptcy protection filing by a provider of life settlements raises concerns that consumers in the midst of selling a policy, as well as investors, may get a raw deal in this and similar situations.
As states propose and pass rules for oversight of life settlement transactions, industry participants wonder just how far the Securities and Exchange Commission will reach into the market to provide uniform guidance on disclosure and broker registration.
State insurance and securities regulators yesterday appealed to members of the Senate for tougher oversight of life settlement transactions in order to curb abuse of senior citizens.
Although Americans are aware of the debilitating costs of long-term care, few seem to understand how to pay for those services, according to a study by MetLife Mature Market Institute.
John Hancock Funds LLC will file with the Securities and Exchange Commission in the next few weeks plans to launch actively managed exchange-traded funds, according to an official at the firm.
Advisers who grapple with the complexities of retirement income will be getting more help next year from Moshe Milevsky, an associate professor of finance at York University in Toronto and executive director of the Individual Finance and Insurance Decisions Centre.
The mutual fund industry's Holy Grail is a fund that can provide investors with a guaranteed stream of income without tying up the client's money in an annuity.
Insurers claimed a small victory in the indexed-annuities war, as the SEC said it will delay by two years the effective date of a proposed rule that would make the products securities.
Life insurers will be back in the black at the end of the year, reaping an estimated $16 billion in profits, according to new research from Conning Research and Consulting.
The National Association of Insurance Commissioners named its 2010 leaders today, with Jane Cline, West Virginia's insurance commissioner, assuming the presidency.
With Congress advancing its controversial 1,900-page health care reform legislation, Wall Street has pushed health care sector stocks into value territory, according to Tyler Dann, co-manager of the $4.8 billion Aim Charter Fund <a href=http://www.investmentnews.com/apps/pbcs.dll/section?q=chtrx&INDA=1&crit=&SearchCategory=CHART%3BREG%3BFREE%3BSUB&SearchProfile=1119&x=47&y=9&symbol=&targetURL=http%3A%2F%2Fwww.investmentnews.com%2Fapps%2Fpbcs.dll%2Fsection%3Fcategory%3Dstocklookup&category=ETFLOOKUP&searchType=etf>CHTRX</a>.
The House Financial Services Committee last Wednesday unanimously approved a bill that would create a federal insurance office within the Treasury Department.
The American Council of Life Insurers has elected C. Robert Henrikson, chairman and chief executive of MetLife Inc., as its 2010 chairman.
In the long battle to position themselves as wealth managers, life insurance companies still have to prove to financial advisers that they can do more than sell annuities.
You wouldn't know it from the way most mutual fund companies and insurers are marketing their products today, but retirement income in all its dimensions is going to be the key driver of the financial and investment business for the next two decades at least.
