Fee income from annuity sales climbed at bank holding companies during the first three quarters of 2009, but sales of fixed annuities in the bank channel slipped, according to two separate studies released last week.
The trial over a 401(k) fee lawsuit against ABB Inc. is continuing on despite a workplace shooting at one of the company's factories on Thursday, in which the shooter was a plaintiff in the suit.
After two successive profitable quarters, the besieged insurer reports a loss of nearly $9B in the fourth quarter.
The Certified Financial Planner Board of Standards Inc on Friday placed Oren Eugene Sullivan Jr. under interim suspension, keeping the ex-broker from using its credentials.
American International Group Inc. is launching a plan to revamp how it arrives at incentive pay for its workers, according to the NY Times.
MetLife Inc. is in the final stages of talks with American International Group Inc. about a deal to buy AIG subsidiary American Life Insurance Co. for about $8 billion in stock and access a bridge loan, according to published reports.
Shares of MetLife slid Wednesday, a day after the insurer confirmed that it's in talks with American International Group Inc. about buying the American Life Insurance Company.
American International Group Inc. is set to pay out about $100 million in a fresh round of bonuses to employees of its financial products division, the unit whose risky bets helped sink the company leading to a $180 billion government bailout, according to reports published Tuesday.
Bowing to the political clout of the insurance and securities industries, the Financial Planning Coalition has given up its effort to get Congress to establish a definition of financial planning that would have brought thousands of insurance and securities brokers and money managers under the sway of an oversight board that the FPC seeks to create.
In the face of opposition from influential insurance and securities industry groups, the Financial Planning Coalition has moderated its ambition to get Congress to establish a broad regulatory scheme for financial planners.
And there's a 5% chance the tab could top $570K, according to a sobering study published this week by Boston College.
The Jones family is in need of financial advice in a major way.
Trade associations representing the life insurance industry and agents last week applauded New York's passage of life settlement legislation.
Over the past year, at least six young couples have come to investment adviser Susan Spraker in desperate need of financial help.
The Jones family is in need of financial advice in a major way. InvestmentNews wants to know how you would advise this made-up 30-somethings couple, the first case study of a four-part series on lifestage investing.
President Barack Obama's health plan proposal would extend Medicare taxes to the investment income of higher-earning households.
Warren Buffett earns millions of dollars of dividend income every quarter even though Berkshire Hathaway Inc., his insurance and investment company, has never made a payout.
With the sale of Dresdner Bank now well behind it, Allianz appears to be back on track. Proof? The Pimco and Oppenheimer parent recorded close to a $6B profit in 2009.
Shares in insurer Swiss Life Holding jumped Monday on reports that German rival Allianz SE is planning to make a takeover bid.
