Thirteen Life and Annuity Specialists Rated ‘Successful’ by Conning
“In our analysis we see a greater focus on annuities among the successful insurers than we had previously,” said Steve Webersen, director of research at Conning.
Company/Trade Group News
AIG to help officers accused of ‘fraud on the market’
The “fraud on the market” theory in class action litigation asserts that the price of shares traded in an “efficient market” reflects all available information, including alleged misrepresentations by...
Northwestern Mutual to sell Russell Investments
Russell oversees almost $260 billion in assets, primarily for large, institutional investors such as pension funds. The firm also maintains stock indices such as the Russell 2000. Russell mutual...
Merrill Lynch overcharged 41,000 small business retirement plans: FINRA
Merrill Lynch learned in 2006 that its small business retirement plan customers were overpaying, but continued to sell them more costly shares and failed to report the issue to...
Performance of life insurer stocks cools in 2014: A.M. Best
Repurchase activity doubled in the first quarter of 2014. Life/annuity companies spent $2 billion repurchasing their shares, with Aflac ($405 million), Prudential ($250 million) and Voya ($250 million) accounting...
Merrill Lynch’s Intentions are “Clear”
"I want to be careful not to call it a product or a service. It’s an approach,” said David Tyrie, head of Personal Wealth and Retirement at Merrill...
Symetra doubles its YOY sales of deferred and immediate annuities in 1Q2014
Higher interest rates and wider distribution of Symetra Financial's annuity products through banks and broker-dealers helped improve sales of fixed index and traditional fixed annuities, the company said in...
TIAA-CREF buys Nuveen Investments
Nuveen will operate as a separate subsidiary within TIAA-CREF’s Asset Management business. The transaction gives TIAA-CREF two mutual fund complexes with aggregate AUM of $181 billion.
Publicly traded life insurers repurchased $4.9 billion in shares in 2013: A.M. Best
Some of the repurchase activity in 2013 was driven by the 67% increase in life/annuity share prices and the desire to offset the dilutive effect of in-the-money stock options...
