AIG Drops Lawsuit Against New York Fed Over Financial Bailout
{June 3rd, 2013} by Best's News Service
NEW YORK – American International Group Inc. has agreed to dismiss its lawsuit against the Federal Reserve Bank of New York related to the financial bailout the company received during the 2008 financial crisis. AIG agreed to dismiss its lawsuit without prejudice in a May 28 filing with the U.S. District Court for the Southern […]
Nationwide Eyes Product ‘Crossovers’
{June 3rd, 2013} by Linda Koco
Is the day coming when insurance agents will be selling crossover life insurance and annuity products? That is the direction Nationwide Financial is heading. By 2015, the carrier hopes to have its first such product on the market. That’s significant not only from a product design perspective but also from an industry status perspective. Take […]
Chile’s Annuity Puzzle
{June 3rd, 2013} by Moshe A. Milevsky
To an academic economist—which is something I occasionally fancy myself to be—exquisite Chile is somewhat of a utopia. I’m not referring to the Andes Mountains or Atacama Desert, although they are remarkable. Rather, I’m referring to its government’s approach to economic policy. As in a number of other South American countries, many of Chile’s cabinet […]
New York's worst estate planning failure, ever.
{June 3rd, 2013} by Bill Coffin
A recent story in the New York Times tells of Roman Blum, a Holocaust survivor who died in 2012 at the age of 97, leaving behind no heirs and most importantly, no will. This is worth noting because Blum was also a very successful land developer on Staten Island, and had an estate of some $40 […]
MetLife Exiting Universal Life With Secondary Guarantees
{June 3rd, 2013} by Fran Lysiak
Having already cut its sales force sharply, MetLife Inc. continues to revamp U.S. retail distribution, along with managing a new risk profile that includes an exit from universal life insurance with secondary guarantees. “Adviser count is down,” Eric Steigerwalt, executive vice president and head of MetLife’s U.S. retail business, said in a transcript from a […]
Ash Brokerage Issues Clarification To FBI News Release
{June 3rd, 2013} by Norma Endersby
NEWS RELEASE: ASH BROKERAGE For immediate release: May 31, 2013 Fort Wayne, IN – It was recently reported that independent insurance agent William Edward Lowder, of Williamsburg, Mich., was sentenced to 60 months in prison for defrauding clients of more than $1 million of their savings as part of a wire fraud scheme. News outlets […]
Changes To Florida's Annuity-Sales Law Draw Flak
{June 3rd, 2013} by Richard Burnett
June 03–A new state law pushed by the life-insurance industry and easily passed by Florida lawmakers promises to “safeguard” all investors — not just elderly ones — from becoming victims of sketchy sales or marketing practices in the annuity business. But the new legislation, not yet signed by Gov. Rick Scott, is drawing fire from […]
Mining The Annuity Distribution Opportunity
{June 3rd, 2013} by Cyril Tuohy
For Lincoln Financial Group, growth in 2013 will come from strengthening its relationship with distributors who sell the company’s life and annuities products, according to the company’s chief executive. As one of the nation’s top sellers of life and annuities, deepening the reach into the distribution channel is to be expected, but the nuances matter. […]
