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.
National Planning Holdings Inc., the Santa Monica, Calif. independent broker-dealer network, saw its revenue slip 15% during the first quarter, to $136 million from $159.9 million a year earlier.
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.
Following the departure of a major annuities expert and the elimination of some variable annuity riders, Massachusetts Mutual Life Insurance Co. is mulling the future of its role in the VA marketplace.
The lack of a uniform fingerprinting requirement for insurance agents and brokers may serve as new ammunition in the battle over federal regulation of the insurance industry.
Six major insurance companies yesterday received preliminary approval from the Department of the Treasury to participate in the Troubled Asset Relief Program, according to published reports.
First-quarter overall annuity sales rose 8% to $2.6 billion at Jackson National Life Insurance Co. year over year, propelled by large gains in traditional fixed-annuity sales.
Members of Congress today weighed the implications of the federal government’s regulating the insurance industry.
The insurance giant has reduced but not eliminated the risk that its failure could pose to the global economy despite getting more than $180 billion in federal bailout aid, Edward Liddy is expected to tell Congress today.
The Munich, Germany-based insurer said net profit in the January-March period was €29 million ($40 million) compared with a profit of €1.15 billion in the first quarter of 2008.
The Dutch bank and insurer blamed loss on falling asset prices, the weak performance of insurance contracts and restructuring charges.
Banks that sold insurance last year reaped higher profits than those that didn’t, according to a study from the Bank Insurance Market Research Group.
The slumping economy is causing even state and local government employees, who typically get traditional fully loaded pensions, to hold off on retirement, according to a survey released today.
The government's unprecedented "stress tests" of the 19 largest U.S. banks should bolster Americans' battered confidence in U.S. banking system, Federal Reserve Chairman Ben Bernanke said today as he defended the rigor of the exams.
Great-West Lifeco Inc., the Winnipeg, Manitoba-based parent company of Putnam Investments of Boston, is looking for acquisition opportunities among U.S. and British life insurance companies, president and chief executive Allen Loney told the Globe and Mail newspapers of Toronto.
More than $24 billion in additional estate taxes would have to be paid from fiscal 2010 to fiscal 2019 under a budget proposal for the next fiscal year released Monday by the Obama administration.
The Internal Revenue Service has delivered two revenue rulings to help determine the tax hit on life settlements.
