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Archive for March 2014

N.Y. regulators say MetLife to pay $60 million for violations

{March 31st, 2014} by Karen Freifeld

  NEW YORK (Reuters) – Insurer MetLife will pay $60 million because two subsidiaries solicited insurance business in New York without a license, New York authorities said on Monday. Investigations by the state’s Department of Financial Services and the Manhattan District Attorney’s Office found that MetLife subsidiaries ALICO and DelAm, bought from AIG in 2010, […]

MetLife to Pay NY Authorities $60 Million for Insurance Law Violations

{March 31st, 2014} by Michael Buck

EW YORK – MetLife Inc. will pay a $60 million fine after New York authorities found that two of its subsidiaries solicited insurance business in the state without a license and that those companies allegedly “made intentional misrepresentations” to insurance regulators, according to a statement from the New York Department of Financial Services. The MetLife […]

Commissioners Mixed on NAIC Panel Draft Accreditation Plan to Treat Captives as Multistate Insurers

{March 31st, 2014} by Thomas Harman, associate editor, BestWeek: Tom.Harman@ambest.com

ORLANDO, Fla. – A draft proposal offered by the National Association of Insurance Commissioners that would treat captive insurance in the same manner as a multistate insurer has been greeted with mixed feelings by some commissioners, some of whom said it would send captives offshore. The NAIC’s financial regulation standards and accreditation committee moved to […]

Wall Street watchdog alleges annuity scheme by two ex-MetLife brokers

{March 31st, 2014} by Suzanne Barlyn

Richard Ketchum, chairman and CEO of FINRA, speaks during the Investment Company Institute’s (ICI) Capital Markets Conference in New York, October 10, 2013.Credit: Reuters/Carlo Allegri     (Reuters) – Two former brokers for MetLife Securities Inc, a unit of MetLife Inc, allegedly engaged in a seven-year scheme to inflate commissions by having customers switch $21 […]

Customer Satisfaction Study Ranks Top Insurance Companies

{March 31st, 2014} by PR Web

Foster City, Calif. (PRWEB) March 31, 2014 Insure.com has released results of its annual insurance customer satisfaction study, which includes scores and rankings across four categories: auto, home, health and life insurance. USAA, State Farm and Farmers earned the highest scores from both auto and home insurance customers. It is USAA’s third year as the […]

Advisors Beware: Single Data Breach ‘Can Bring Down’ A Practice

{March 31st, 2014} by Kenneth Corbin

WASHINGTON — In the face of a range of cyber threats that are increasing both in volume and sophistication, investment advisors need to shore up their digital defenses, taking steps to elevate security as a business priority and share more information about attacks with relevant authorities. That was the message of industry leaders, compliance experts […]

Allstate to Discuss First Quarter 2014 Earnings With Investors

{March 31st, 2014} by PR Newswire Association LLC

NORTHBROOK, Ill., March 31, 2014 /PRNewswire/ — The Allstate Corporation (NYSE: ALL) will conduct a conference call and webcast at 9 a.m. Eastern Time (ET) on Wednesday, May 7 to discuss first quarter 2014 earnings. The company will issue a news release announcing quarterly results at or after 4:05 p.m. ET on Tuesday, May 6. […]

Five common mistakes advisers make with female clients

{March 29th, 2014} by Kathleen Burns Kingsbury

Well-meaning advisers can make mistakes when it comes to working with female investors. Women represent 51% of the population and individuals that make up this group vary in terms of personal interests, professional pursuits, preferred lifestyle and sexual orientation. The list of “do’s” and “don’ts” to be a female-friendly adviser can be very long and […]

State Roundup

{March 29th, 2014} by Pam Heinrich

State Legislative Trends Related to Elder Financial Abuse/Exploitation Laws Most everyone in our industry is aware of the trials—both literally and figuratively—of California insurance agent Glenn Neasham, who was convicted in October 2011 of theft with respect to the property of an elder. In 2008, he sold a fixed indexed annuity policy to a senior […]

$201 Million Policy Could Be Good Omen

{March 28th, 2014} by Linda Koco

The eye-popping $201 million life insurance policy — now dubbed the “most valuable life insurance policy” by the Guinness Book of World Records — may be a sign that the big case market is reviving. Reinsurers are seeing an increase in jumbo cases as the economy improves. That’s significant, because reinsurers are the companies to […]

The Best Times To Post on Facebook, LinkedIn & Twitter for Financial Advisors

{March 28th, 2014} by Amy McIlwain

Now that you’ve optimized your LinkedIn, Twitter and Facebook pages, it’s time to look at how we can get the most “bang” for our social buck by identifying the best times to post and engage online. While experimenting with your posting times can’t hurt, it is always good to have some basic knowledge to start […]

Annuity sales continued upward momentum in 2013

{March 28th, 2014} by Noah Guillaume

The U.S. annuity industry ended 2013 on an upward trend, according to data reported by Morningstar Inc. and Beacon Research.  Increased fixed and variable annuity total sales during the fourth quarter pushed industry-wide sales to $59.3 billion, up 3.1 percent from the previous quarter sales of $57.5 billion and up 17.2 percent from 2012 fourth-quarter […]

Many RIAs Merely ‘Accommodating’ Retirement Plans Business

{March 28th, 2014} by Cyril Tuohy

It may be an overstatement to call the retirement business an afterthought, but for some registered investment advisors (RIAs), the 401(k) and 403(b) business appears to be exactly that, according to a new survey by Fidelity Institutional Wealth Services. The survey of 1,700 Fidelity Institutional Wealth Services clients found that 91 percent of advisors offering […]

NAFA Plugs into National Retirement Planning Week® Events

{March 28th, 2014} by NAFA

FOR IMMEDIATE RELEASE NAFA Plugs into National Retirement Planning Week® Events Milwaukee, WI (March 26, 2014) The National Association for Fixed Annuities (NAFA) announced today that the association will be participating in several National Retirement Planning Week® events during April 7-11. The week is coordinated by the National Retirement Planning Coalition (NRPC) to help consumers […]

Evans sees Fed raising interest rates in second half of 2015

{March 28th, 2014} by Rachel Evans and Aki Ito

Bloomberg) — Federal Reserve Bank of Chicago President Charles Evans said the central bank will probably raise interest rates in the second half of next year and the timing will depend on the pace of inflation. “I do tend to think inflation’s going to pick up and that will be the reason why we ultimately […]

Insurers face tougher EU scrutiny on pay

{March 28th, 2014} by Jim Brunsden

Bloomberg) — Insurers from Prudential Plc to Axa SA face tougher European Union oversight of compensation as the bloc seeks to crackdown on awards that could spur irresponsible risk taking. Draft European Commission plans would require insurers to defer handing over a “substantial portion” of bonuses for at least three years in a bid to […]

Factoring Social Security Into Your Client’s Retirement Strategy

{March 28th, 2014} by Deb Repya

Social Security is a key source of retirement income. Almost 58 million Americans received benefits from Social Security in 2013 with 70 percent of those benefits going to retired workers and their dependents. Eighty-six percent of seniors (age 65 and older) depend on Social Security as one of their most important retirement income sources. Considering […]

U.S. Ranks 19th On Retirement System

{March 27th, 2014} by Cyril Tuohy

Nations best equipped to meet the needs of future retirees emphasize simplicity of retirement plan design, according to a global retirement index issued by Natixis Global Asset Management. The Global Retirement Index survey provides some idea of where the United States ranks relative to other nations with regard to meeting retirement needs through its retirement […]

Standard Life’s shares advance on Ignis purchase

{March 27th, 2014} by Sarah Jones

(Bloomberg) — Standard Life Plc climbed the most in 11 months after its investment arm agreed to buy Ignis Asset Management for 390 million pounds ($645 million), gaining 59 billion pounds of funds. The acquisition from Phoenix Group Holdings will increase third-party assets under management by 64 percent, and add to earnings per share in […]

Retirement Wave Could Mean Golden Years For Workers

{March 27th, 2014} by Erik Hare

Baby boomers are hitting their so-called “golden years,” starting a retirement wave across the U.S. workforce that neither individuals nor the government are prepared for. Janice Durflinger, 76, poses for a photo at her workplace in Lincoln, Neb., Wednesday, Aug. 1, 2012. (AP/Nati Harnik)   While the idea of retirement may be appealing, especially with […]

New York Life Extends Benefits Of Universal Life Product

{March 27th, 2014} by Cyril Tuohy

Asset Preserver, a single-premium universal life insurance product and a mainstay of New York Life’s insurance portfolio, has been broadened to help pay for expenses associated with long-term care, the company has announced. The policy, sold through agents and advisors, also boosts the value of the benefits available to pay for long-term care, the company […]

Reaching the middle market on their (digital) terms

{March 26th, 2014} by Stephen M. Gallagher and Eric E. Olson

Middle income Americans know they need life insurance. And they’d probably prefer to buy it online. Exhaustive research of the middle market and its insurance buying habits identify clear trends. Click here to read…

Fed bank fearful of insurance risks

{March 26th, 2014} by Arthur D. Postal

The growing use of captives is among “the rising and poorly-understood risks to the financial system” posed by the U.S. life industry, according to a new study commissioned by the Federal Reserve Bank of Minneapolis. The report also singled out deep concern for the trend toward guaranty riders in variable annuities because of the shift […]

18 Astonishing Social Media Stats for Financial Advisors

{March 26th, 2014} by Amy McIlwain

Have you been wondering if your target demographic is using social media? Can you reach them? Do they want to interact with a financial professional on social sites? The answer is YES! Not only are more boomers, seniors, and affluent consumers using social media, they’re engaged and sharing information. If you’re not on the social […]

Schafer: Two similar firms differ wildly on CEO pay

{March 26th, 2014} by LEE SCHAFER , Star Tribune

Outside Ameriprise Financial headquarters in Minneapolis. Ameriprise markets itself as the fifth-largest branded broker-dealer. Photo: David Denney, Star Tribune Thrivent Financial and Ameriprise Financial are far more alike than they are different, both big financial services firms with headquarters just a block from each other in downtown Minneapolis. Both manage money and sell financial products […]

Iowa Court: Breastfeeding Employee Can’t Sue Nationwide Mutual Insurance

{March 26th, 2014} by Ryan J. Foley

Nationwide Mutual Insurance Co. did not discriminate against an employee who claims she was denied a room to pump breast milk and pressured to resign on her first day back from maternity leave, a federal appeals court in Iowa has ruled. Angela Ames, a former loss-mitigation specialist in Nationwide’s Des Moines office, did not meet […]

Principal faces lawsuit over retirement service fees

{March 26th, 2014} by IFAwebnews Staff

Principal Life Insurance Co., a division of Des Moines, Iowa-based Principal Financial Group, was recently hit with a lawsuit claiming it is overcharging for its retirement services. McCaffree Financial Corp., based in Overland Park, Kan., alleges in the suit that Principal is charging “grossly excessive” fees on a retirement plan Principal operates for McCaffre. McCaffree […]

Gender gaps exist in concern for retirement, immediate financial needs

{March 26th, 2014} by IFAwebnews Staff

Women around the world today are more concerned than men are about immediate financial needs and concerns — and are more likely than men to overlook longer-term financial priorities such as planning effectively for their retirement, according to the first-ever Global Investor Pulse Survey recently conducted by BlackRock. The survey, which polled more than 17,500 […]

M&A activity light in 2013, Conning says

{March 26th, 2014} by IFAwebnews Staff

Last year proved to be a weak one for deal flow in the insurance industry—particularly in risk-bearing sectors, according to a new study by Conning. “Mergers and acquisitions activity lagged in 2013 in all insurance sectors except distribution,” said Jerry Theodorou, analyst at Conning. “Property-casualty transactions—driven by the mildly improving economy—still declined to the lowest […]

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Springtime is a special time for Sheryl J. Moore and family!

{March 25th, 2014} by Jamie Johnson

We are very excited to welcome the newest member of our extended Wink family: Jackson Alexander Moore! Jackson is the son of Sheryl J. Moore (CEO of Wink and Moore Market Intelligence) and her husband Jeremiah. He is baby brother to sisters: Lexi and Aaliyah Betts. Jackson was born on the night of March 23rd […]

Wink CEO: Indexed Annuities Made Up Nearly 46% of All US Fixed Annuity Sales in 2013

{March 25th, 2014} by Fran Matso Lysiak

PLEASANT HILL, Iowa – As sales rose for the fifth consecutive year in 2013, indexed annuities also made up nearly 46% of all fixed annuity sales, while two of the top five companies are now owned by private-equity firms, according to the chief executive officer of Wink Inc. Total sales of indexed annuities in the […]

Experts Square Off On Capital Standards For Insurers

{March 25th, 2014} by Cyril Tuohy

Bank-centric capital standards would be unsuitable for the nation’s insurers and create an unnecessary regulatory universe for insurers that operate on a very different business model than banks, experts told Congress last week. At issue is whether Section 171 of the Dodd-Frank Wall Street Reform and Consumer Protection Act gives federal regulators enough latitude to […]

US companies rate highly against international peers in the competitive Asia region, new Telstra Global survey finds

{March 25th, 2014} by PR Newswire Association LLC

NEW YORK,March 25, 2014 /PRNewswire/ — US companies operating in the high growth Asian region are boldly achieving success, according to a new Telstra Global survey released today. An impressive 68 percent of US-headquartered businesses in the region have met their financial and strategic objectives over the last three years. The report identified the top […]

Managing Gen Y: What Advisors Must Know

{March 25th, 2014} by Kenneth Corbin

For all the angst in the advisory industry about succession planning and how Generation Y will fit into the practice, advisor John Augenblick suggests that maybe younger workers aren’t so different after all… WASHINGTON — For all the angst in the advisory industry about succession planning and how Generation Y will fit into the practice, […]

Exclusive Index Allocation Now Offered on Allianz Life Pro+ Fixed Index Universal Life Insurance Policy

{March 25th, 2014} by N/A

Popular Barclays US Dynamic Balance Index now available on innovative FIUL product MINNEAPOLIS — Allianz Life Insurance Company of North America (Allianz Life) today announced the launch of a new index allocation on the Allianz Life Pro+® Fixed Index Universal Life (FIUL) Insurance Policy. Allianz Life Pro+ provides death benefit protection for beneficiaries, as well […]

ING U.S. Announces Completion of Sale of ING U.S. Common Stock by ING Group

{March 25th, 2014} by PRNewswire

NEW YORK, March 25, 2014 /PRNewswire/ — ING U.S., Inc. (NYSE: VOYA), which will rebrand as Voya Financial, Inc. in 2014, announced today that ING Groep N.V. (“ING Group”) has completed its sale of approximately 37.7 million shares of ING U.S. common stock, including 7,255,853 shares that were repurchased by ING U.S. As a result, […]

New IRI Research Provides Insight On Client-Advisor Discussions

{March 25th, 2014} by N/A

WASHINGTON, D.C. – The Insured Retirement Institute (IRI) today released new research findings that show investors are turning to financial advisors for retirement planning help. The survey provides a snapshot of these retirement planning conversations, with many discussions focusing on determining and meeting retirement savings goals. The survey also found that a majority of investors […]

More Women Than Men Outliving Their Resources, Surviving In Poverty

{March 25th, 2014} by Rachel Raskin-Zrihen, Times-Herald, Vallejo, Calif., McClatchy-Tribune Information Services

More women are living longer and this could be bad news for too many of them, experts say. “Women have a range of lifelong challenges that conspire against them remaining fiscally comfortable in their old age,” said Robert MacLaughlin of California’s Assembly Committee on Aging and Long-term Care. “They risk spending their last years in […]

Closing the female adviser gap

{March 25th, 2014} by Matt Sirinides

More women hold positions other than lead advisory roles, but that could change with time Source: Bureau of Labor Statistics, Labor Force Statistics from the Current Population Survey (2013 estimates) More than 324,000 individuals are identified in the U.S. Census as “personal financial advisers,” one of 536 occupations tracked in the census, according to the […]

A.M. Best Affirms Ratings of Securian Financial Group, Inc.’s Subsidiaries

{March 24th, 2014} by Best's News Service

Oldwick – A.M. Best has affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of “aa-” of Minnesota Life Insurance Company (Minnesota Life) and its subsidiary, Securian Life Insurance Company (Securian Life). In addition, A.M. Best has affirmed the FSR of A (Excellent) and ICR of “a” of Securian Casualty […]

SEC Promises To Speed Decision On Uniform Fiduciary Standards

{March 24th, 2014} by Cyril Tuohy

Rule-making options surrounding uniform fiduciary standards for broker-dealers and investment advisors are “an immediate and high priority,” Securities and Exchange Commission (SEC) Chairwoman Mary Jo White said. White, speaking at a meeting of the Consumer Federation of America (CFA), also said she had directed her staff to “evaluate all of the potential options available to […]

Canada Pension Plan to acquire Wilton Re for $1.8B

{March 24th, 2014} by Katia Dmitrieva and Zachary Tracer

Bloomberg) — Canada Pension Plan Investment Board, the nation’s largest pension fund manager, agreed to buy Wilton Re Holdings Ltd. for $1.8 billion to expand into the life insurance business. The reinsurer is being acquired from investors including Stone Point Capital, Kelso & Co. and Vestar Capital Partners Inc., the Toronto-based fund manager said today […]

Finance, insurance docs take top spots as most complex

{March 24th, 2014} by Warren S. Hersch

Lengthy policy application forms and underwriting times have long been complaints that consumers have leveled against life insurers. And the complaints don’t stop at the point of purchase. A new survey by Siegelvision indicates that insurance and annuity statements are among the top five most confusing vendor communications. More than half of consumers polled in […]

Texas Insurance Agent Gets 4 Years For Theft

{March 24th, 2014} by The Associated Press

GALVESTON, Texas (AP) — AHouston-area insurance agent whose company included the word “integrity” in its name has been sentenced to four years in prison for stealing from about 40 clients. A judge inGalveston on Monday sentencedChristopher Vernon Murphy in a plea agreement and ordered him to repay about$75,000. Investigators say Murphy pleaded guilty to theft […]

Social Media For Advisors: How To Get Started

{March 24th, 2014} by Kenneth Corbin

WASHINGTON — Advisors can cite any number of reasons to steer clear of social media in their practice, but firms that resist new online channels altogether do so at their own peril. That’s the message delivered byMarie Swift — president and CEO of a public relations and marketing firm catering to independent advisors — during […]

Prudential Financial’s Retirement Unit Names New Head of Investments for Full-Service Business

{March 21st, 2014} by Fran Matso Lysiak

NEWARK, N.J. – Prudential Financial Inc.’s retirement business named Srinivas Reddy to a newly created position overseeing investments for its full-service business. He will be responsible for all aspects of the investment and retirement-income businesses within Prudential Retirement. This business consists of $170 billion in assets under administration and relationships with more than 60 affiliate […]

NAILBA Switches E&O Carrier After 10 Years

{March 21st, 2014} by Cyril Tuohy

After a decade with American International Group (AIG), the National Association of Independent Life Brokerage Agencies (NAILBA) has switched professional liability carriers to Everest Indemnity Insurance, for errors and omissions (E&O) coverage. The move represents an adjustment to AIG’s business model, said Robert G. Erzen, area vice president with Arthur J. Gallagher & Co., NAILBA’s […]

Lifetime Income Estimates Helpful, But Not Habit-Changing

{March 21st, 2014} by Cyril Tuohy

An analysis of the 2014 Retirement Confidence Survey by the Employee Benefit Research Institute (EBRI) found that employees are unlikely to make big changes to their retirement savings habits even when they know how much retirement income they are likely to receive based on current account retirement balances. If the income projections aren’t likely to […]

Top 10 places your time goes

{March 21st, 2014} by Liz Skinner

Wonder where the work day goes?   Here’s how we’re wasting the day away, according to a survey of 1,300 people, most of whom are freelancers, small business owners and other professionals. The 2014 survey was sponsored by OfficeTime, an app that tracks how much time people devote to different activities. Next »  

8 tips for working with high-net-worth clients

{March 21st, 2014} by Paul Wilson

Andrea Blackwelder, CFP, ChFC, co-founder of Wisdom Wealth Strategies in Denver, Colo., has worked with all types of clients over the years. But at this point in her career, she says “working with affluent people and the complex situations they bring is where it gets really fun.” Here are seven tips she shared about working […]

Pacific Life Promotes Officers

{March 21st, 2014} by Jennifer Morrell

Pacific Life Insurance Co., a provider of life insurance products, annuities and mutual funds, announced eight officer promotions. Howard Hirakawa, CFA, has been promoted to senior VP, investment advisor operations, corporate division. Hirakawa joined Pacific Life in 1990 and will oversee portfolio management, product development, operations and compliance, fund board relationships, and reporting functions relating […]

Financial Firms, Optimize that Facebook Fan Page!

{March 21st, 2014} by Amy McIlwain

Because more and more people and businesses join social media networks everyday, it is increasingly important to optimize your social profiles. In the past you have heard us talking about how to optimize your LinkedIn profile and best practices for updating your Twitter profile, so now it is Facebook’s turn!  And what better time than […]

ING Group Raises Nearly $1.2 Billion With

{March 21st, 2014} by Fran Matso Lysiak

AMSTERDAM – ING Group raised nearly US$1.2 billion with the sale of shares of common stock in its ING U.S. Inc. unit. With the sale, the Netherlands-based parent company no longer has a majority stake in the U.S. subsidiary. Earlier this week, ING Group said it planned to sell about 33.5 million shares of common […]

Largest life insurance policy bought at $201M

{March 21st, 2014} by Emily Holbrook

Many tech executives in the Silicon Valley are worth millions and some have purchased life insurance policies to protect those millions once they are no longer there to do so. But one individual went above and beyond the normal scope of life insurance policies. An unnamed Silicon Valley billionaire recently took out the largest life […]

John Hancock Insurance Enhances Protection UL

{March 21st, 2014} by PR Newswire Association LLC

BOSTON,March 19, 2014 /PRNewswire/ —  John Hancock Insurance today announced enhancements to its flagship current assumption universal life product, Protection UL. The company said more competitive premiums are now available on all lump sum and single-pay scenarios, resulting in a more attractive product. These enhancements apply to all new business and inforce Protection UL ’13 […]

The new rules of Facebook marketing

{March 20th, 2014} by Kristen Luke

Marketing your business on Facebook used to be simple. All you had to do to promote your services was create a page, then find people to “like” your page. Upon doing so, they would begin seeing your company posts in their Facebook newsfeed. If your fans liked your content, they could like, comment or share […]

6 tragic celebrity estate plans

{March 20th, 2014} by Vanessa De La Rosa

Many celebrities accumulate large, diversified fortunes, have complicated family lives, and are greeted at every corner by family, friends and acquaintances looking for some extra dough. While less-than-perfect estate planning is certainly rampant among all socio-economic classes, an affluent celebrity’s failure to create a properly drafted will and an explicitly clear estate plan can result […]

Advisors Must Slow Down To Tell Consumers About IRA Importance

{March 20th, 2014} by Cyril Tuohy

Advisor Dan Keady’s favorite four-letter word is “slow,” as in “slow down.” Financial advisors, he said, need to downshift when talking about individual retirement accounts (IRAs), tax-advantaged accounts like Roth IRAs, and annuity investments for retirement. “We as advisors have been in the business for so many years,” he said. “We hear the word IRA […]

ING Group to Sell 33.5 Million Shares of ING US; First-Quarter Loss of About $2.8 Billion May Be Result

{March 20th, 2014} by Fran Matso Lysiak

AMSTERDAM – ING Group said it plans to sell about 33.5 million shares of common stock of ING U.S. Inc., representing about a 12% stake in its U.S.-based insurance, retirement and investment subsidiary. ING Group would use the money to reduce its core debt. Assuming deconsolidation of ING U.S., the sale of these shares would […]

Can an adviser thrive in a virtual office?

{March 20th, 2014} by Joyce Hanson

A young planner is shutting down his offices, saying his clients prefer working in a virtual world Alan Moore is a young adviser with an unusual plan for the future — it involves shutting down his year-old office in Bozeman, Mont., this week. Come May, a month after he turns 27, he will then take […]

ING Groep raises $1.18B selling US insurer stock

{March 20th, 2014} by Zachary Tracer

(Bloomberg) — ING Groep NV, the biggest Dutch financial-services company, raised $1.18 billion with a sale of shares in its U.S. insurance unit as the parent company ended its majority stake. The Dutch company sold 26.5 million shares in a public offering at $35.23 apiece, yesterday’s closing price in New York, ING U.S. said in […]

Federal Roundup

{March 19th, 2014} by Capcity Associates

Tax Reform As expected, Congress recently raised the debt ceiling with little contentious debate. This move comes after a bipartisan omnibus spending measure passed in January. With these policy debates being settled, Congress is now in a position to refocus attention on tax reform. However, the recent bipartisanship is expected to fade fast as strong […]

Apollo Insurer Boosts Capital-Raise Plan to $1 Billion

{March 19th, 2014} by Zachary Tracer

Athene Holding Ltd., the insurer controlled by Leon Black’s Apollo Global Management LLC (APO), doubled its capital-raising goal to $1 billion to add funds for acquisitions. The insurer plans to finalize an offering for the new target within 30 days, the Bermuda-based company said today in a slide presentation. The shares will be sold at […]

ING: Ignore erroneous filing on $1.2B US share sale

{March 19th, 2014} by Zachary Tracer

(Bloomberg) — ING Groep NV, the biggest Dutch financial-services company, told investors to disregard a regulatory filing that outlined plans to sell more shares in its U.S. life insurance unit. “It was an error,” Raymond Vermeulen, an ING spokesman, said by phone. “Anything in the filing which says something about what we might be doing […]

Donating Life Insurance Nets Your Client A Tax Deduction

{March 19th, 2014} by Alan Lavine

It’s possible for philanthropic-minded clients to donate their life insurance to charity and get an attractive tax deduction. And not just for high-net-worth clients. Say your client paid in$50,000 in premiums for a$300,000 death benefit over the years. When the client dies, the charity may get that death benefit or more, depending upon the nature […]