A Federal Reserve bank president says the economy is on its way back up. In the meantime, an economists’ report showed that the bounce has not yet begun.
Brighthouse Financial executives celebrated a successful first quarter Tuesday driven by a 15% increase in annuity sales year over year, and a 33% increase in life insurance sales.
The COVID-19 pandemic has resulted in social-distancing practices and volatile market conditions that has many insurers concerned, according to a new survey. About 90% of the companies rated distribution/social distancing and pricing/new business profitability (89%) as a concern and 77% listed in-force profitability.
The Iowa Insurance Division adopted a best interest rule applying a new standard to the sale of annuities and other insurance products. The new rule is based on a best-interest model rule adopted by the National Association of Insurance Commissioners.
MetLife is offering paid voluntary leave to its licensed healthcare workers who join the fight against COVID-19, the company announced today.
The US Bureau of Labor Statistics released its monthly employment report this morning, revealing that the domestic economy lost 20.5 million jobs in April. This is by far the largest contraction in the history of the data series, which goes back to 1939.
Annuity sales fell to $705 million, down 43% from the total for the year-earlier quarter, American Equity reported. A leading provider of fixed indexed annuities, the company will be making changes to its product portfolio and approach, CEO Anant Bhalla said today.
PARK RIDGE, Ill. (May 06, 2020) — The COVID-19 pandemic, its associated market volatility and new regulations to combat the fallout…
The newly unemployed will be looking for health insurance — and not finding it in some states.
Prudential Financial reported adjusted operating income of $373 million from its individual annuities segment, a 21% decline from the first quarter 2019. The insurer is adjusting quickly to products that are less reliant on interest rates and the equity markets.
Genworth reported a first-quarter loss of $66 million, after reporting a profit in the same period a year earlier. The quarterly report comes two days after Fitch Ratings downgraded Genworth’s financial strength ratings from CCC+ to CCC.
All around the country, firms and employees are taking things to the next level to provide value that doesn’t have anything to do with financial recommendations. Here is a list of the top five activities that firms are participating in to support their clients and their communities.
American International Group is budging for COVID-19 catastrophe losses that exceed Hurricane Katrina, an executive said Tuesday morning. The insurer set aside $419 million for catastrophe losses in the quarter with $272 million of that estimated to be for losses related to COVID-19. And the worst is yet to come.
Plenty of companies have discovered how challenging the switch from in-house to remote operations can be. However, there are simple shifts your company can make to ensure success.
There’s a tax freight train coming your clients’ way – and their individual retirement accounts and 401(k) accounts are on the tracks, an advisor and author said.
A comment period closed Thursday on draft changes to Actuarial Guideline 49 proposed by the American Council for Life Insurers. The Life Actuarial Task Force is scheduled to discuss the draft and comments during a May 14 conference call.
The property & casualty insurance industry is facing numerous class-action lawsuits related to denials of coverage for business interruption. Insurers are treating the pandemic as an exclusion, while businesses claim they should be covered.
Insurance Agency Marketing Services, Inc., a leading national independent marketing organization, announces Christopher Conroy has joined the firm as executive vice president of national accounts and principal.
The New York Department of Financial Services is requiring state-regulated health insurers to waive out-of-pocket costs, including cost-sharing, deductibles, copayments and coinsurance, for in-network mental health services for New York’s frontline essential workers during COVID-19.
