Prudential Financial Completes $615 Million Acquisition of Hartford Financial's Individual Life Business
{January 4th, 2013} by Fran Matso Lysiak
Best’s News Service – January 03, 2013 03:30 PM NEWARK, N.J. – Prudential Insurance Company of America has completed its $615 million acquisition of the individual life insurance business of Hartford Financial Services Inc. Under the agreement, first announced in September, Prudential Financial Inc. (NYSE: PRU) paid $615 million in cash to acquire this business, […]
Athene Closes Presidential Life Acquisition for $414M
{January 4th, 2013} by Fran Matso Lysiak
Fran Lysiak A unit of the Bermuda-based Athene Holding Ltd. has closed on its acquisition of Presidential Life Corp. in a transaction valued at about $414 million. Last summer, Athene Annuity & Life Assurance Co., a Delaware-domiciled insurer, said it would acquire the Nyack, N.Y.-based Presidential Life (NASDAQ: PLFE) for $14 a share cash, […]
Estate Tax Surprise: The Law is Permanent
{January 4th, 2013} by Linda Koco
By Linda Koco InsuranceNewsNet One of the big surprises from the last-moment deal that pulled the nation back from the fiscal cliff was the permanent estate tax law, which should make estate-planning go much more smoothly for advisors and their wealthy customers. The American Taxpayer Relief Act of 2012 sets the top estate tax rate […]
The variable annuity buyout binge, part 2
{January 4th, 2013} by Sheryl J. Moore
Last month, we explored the recent trend of variable annuity (VA) insurers deciding that they no longer want to be obligated to the “shadow” value guarantees that are offered through their products’ guaranteed living benefit (GLB) and/or guaranteed death benefit (GDB) riders. While these riders were initially developed to equalize the sales of VAs (particularly […]