The nation's retirement assets shrank by nearly 25% last year and lost more than $2.4 trillion in market value, according to a new report from Chicago-based Spectrem Group.
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.
Three of five DC plans have not changed in regard to employee participation and corporate matching contributions despite the recent financial crisis.
The Internal Revenue Service is allowing tax relief and refunds for some investors who paid taxes on earnings from their investments with Bernard Madoff.
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.
On the surface, the Obama administration's movement to require every employer to offer workers some form of automatic retirement account is a well-intended attempt to shore up the financial futures of millions — and underneath, it's one that could also pump billions of dollars into the capital markets at a crucial time.
The Swiss government says it will cooperate on cases of international tax evasion, breaking with a long-standing tradition.
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.
A recent court ruling has paved the way for the bulk of the Leona M. and Harry B. Helmsley Charitable Trust to be spent on charitable efforts, not on dogs.
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.
Advisers need to bolster their sales efforts to snag new clients since most advisory firms’ sales are down 10% to 40%, one industry expert told advisers at the Financial Planning Association’s Business Solutions conference at the Chicago Westin.
Your wealthy client, age 72, has a sizable individual retirement account and is wondering whether to make charitable contributions from the IRA in 2009.
Investors continued to put money into their 401(k) plans last year despite the market turmoil, according to a study released today.
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.
Insurer Old Mutual PLC reported Wednesday a 30 percent drop in 2008 profits as its U.S. Life unit made a large loss, hurt by the collapse of financial institutions such as Lehman Brothers and Freddie Mac and Fannie Mae.
