A Florida Senate bill that would levy heavy penalties on agents and financial advisers who make fraudulent annuity sales has moved closer to becoming law — though not without a few insurance industry-friendly changes.
MetLife Inc. Chairman and Chief Executive C. Robert Henrikson received compensation of $12.4 million in 2008, down 13 percent from the previous year, according to an Associated Press calculation of figures disclosed in a regulatory filing Tuesday.
Advisers are being pelted with a dizzying array of new insurance products. But as quickly as products develop, so, too, do the challenges, which include evaluating carriers’ financial health and deciding which product might be favorable in a given economic environment.
A marketing technique called framing is being looked at with suspicion even thought it often produces a positive result — getting people to save for retirement.
The cost of health care in retirement has risen 50% since 2002, according to research released today by Fidelity Investments.
Health care costs of Alzheimer's disease are at least $33,007 annually per patient, compared with $10,603 for an older person without Alzheimer's, according to a report issued Tuesday by the Alzheimer's Association.
As Florida weighs proposed legislation that could make it easier to toss annuity salespeople into prison, agents and the insurance industry are rallying to fight the bill.
Although older baby boomers account for the majority of individual long term care insurance sales, it is largely younger boomers and those under 45 who buy group LTC insurance.
Sales of variable annuities fell in the fourth quarter as premium flows hit $33.3 billion, according to data from NAVA Inc.
Most Americans and Europeans would rather see the construction companies bailed out than the banks or car manufacturers, according to a recent survey conducted by the Financial Times of London and Harris Poll.
Insurer Conseco Inc. said Tuesday it will miss its planned filing date for 2008 financial results with the Securities and Exchange Commission.
Iowa Sen. Charles Grassley suggested that AIG executives should accept responsibility for the collapse of the insurance giant by resigning or killing themselves.
An investor has filed a class action against Prudential Financial Inc. and a slate of its executives, alleging that the insurer violated federal securities laws in a June 2008 public offering of junior subordinated notes.
A fourth-quarter tumble in long term care insurance sales brought down full- year 2008 results for the product, according to data from LIMRA International Inc.
The National Association of Insurance Commissioners has released a list of carriers that have applied for a special accounting treatment aimed at helping them raise capital and surplus.
Insurers’ delay in paying out claims was the most common complaint from consumers last year, according to the National Association of Insurance Commissioners.
Sales of fixed annuities climbed to $107 billion last year, up 60% from 2007, according to the Beacon Research Fixed Annuity Premium Study.
The Phoenix Cos. Inc. said that it overstated its 2008 losses by $46 million as a result of an error in accounting for income taxes.
House Financial Services Committee Chairman Barney Frank called yesterday for creating an optional federal charter for life insurance companies.
Aviva PLC, Europe’s biggest provider of life insurance products, posted a loss of $995 million for 2008, down from a profit of $2.98 billion in 2007.
