Not only are investors greatly confused about annuities, but they are also greatly biased against them, according to a new study from LIMRA International.
Aetna Inc., the Hartford, Conn.-based health insurer, announced today that its third-quarter profit dropped to $277.3 million, or 58 cents per share.
MFS Investment Management of Boston announced today the formation of a business development office for the defined contribution investment only market.
To survive the credit crunch and regain consumer confidence, insurers must strip away the fancy features from their products, said Quincy Krosby, chief investment strategist at The Hartford (Conn.) Financial Services Group Inc.
Insurance executives highlighted the income benefits behind some new annuity solutions and guarantee wrappers, but the costs behind these products may rise in light of a careening market.
Amid bad news in the financial sector, life insurance executives were urged to fight for clients’ trust in their industry and products at the research organization’s annual meeting in Hollywood, Fla.
Great Britain’s second largest life insurer, Prudential PLC, is considering buying some of American International Group Inc.’s business units.
The Treasury Department wants insurance companies to participate in its $700 billion bailout program —and it may take equity stakes in return.
AIG has borrowed $90.3 billion from the federal government, surpassing its original $85 billion rescue loan.
A Boston federal jury found that disability insurer Unum Group committed fraud against the United States in some of its disability cases.
Ambac Financial Group Inc. of New York has selected David W. Wallis as its new president and chief executive.
Jackson National Life Insurance Co. of Lansing, Mich., today announced that it generated $11.2 billion in total sales and deposits during the first nine months of the year.
Barclays Capital is combining its family of indexes with those of Lehman Brothers under the Barclays Capital Indexes name, said Waqas Samad, head of Barclays Capital’s index products group.
ING Groep N.V. said today that it would sell its Taiwanese life insurance business to Fubon Financial Holding Co., a Taipei-based financial services firm.
The bailout bill, known as the Emergency Economic Stabilization Act of 2008, contains many little-known provisions, including the retroactive extension of the IRA charitable rollover.
More than half of large companies are using automatic enrollment in their retirement plans, and overall, more employers have begun pulling the trigger on automatic enrollment, a new study shows.
The dramatic drop in stock holdings has advisers working closely to help investors determine whether to claim tax losses.
The Securities and Exchange Commission has chosen Nov. 17 as the new deadline for comments on its proposal to register indexed annuities.
New York Attorney General Andrew M. Cuomo has demanded that AIG recover the money it spent on lavish outings, bonuses and golden parachutes — and threatened sanctions if the insurer didn’t heed the order.
Major life insurance companies’ investments in non-prime mortgages are going to continue hurting their capital positions as the year rolls on, according to a study from Fitch Ratings Ltd.
