N.Y. Issues More Subpoenas in RAA Probe
By Joyce HansonThe New York Attorney General's office has widened its investigation of retained asset accounts (RAAs) to include several more insurers, according to our sister publications from National Underwriter.
August 19, 2010
LIMRA: Q2 Annuity Sales UpTotal annuity sales increased 11% from the first quarter of 2010, the first quarterly increase since the fourth quarter of 2008, LIMRA reports. Year-to-date sales...
August 16, 2010
Retained Asset Accounts Is Focus of Senator Shelby's September HearingNAIC working group releases consumer alert on the accounts.
August 09, 2010
NAIC to Investigate Insurers Over Deceased Veterans' BenefitsThe National Association of Insurance Commissioners will establish a working group "to examine a life insurance claims settlement practice involving the use of retained asset accounts." Of particular concern to the group is consumer disclosure.
August 06, 2010
Allianz SE Loses Profits as PIMCO Helps Unit Double EarningsAllianz SE (AZSEY), Europe's largest insurer, said its second-quarter profits fell nearly 50%, largely due to the sale of shares in Industrial & Commercial Bank of China and a write-down in its investment in Hartford Financial Services Group Inc.
August 06, 2010
AIG Posts $2.7 Billion Loss on Restructuring ChargesAmerican International Group reported a net loss of $2.7 billion for the second quarter of 2010, or $-3.96 per share, compared to net income of $1.8 billion, or $2.30 per share in the second quarter of 2009.
August 05, 2010
CIGNA Reports 32% Q2 Loss on Variable Annuity Business; Stock Rises Despite LossCIGNA Corp.'s second-quarter 2010 earnings fell 32% to $294 million, or $1.06 per share, compared to $435 million, or $1.58 per share, a year ago, the insurer reported Thursday, August 5.
August 05, 2010
Sun Life Tops Estimates on Lower Net Income, Better MFS EarningsSun Life Financial (SLF) on Wednesday, August 5, reported net income of $213 million for the second quarter of 2010, compared with net income of $591 million in the same period last year.