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Heads of two major carriers look optimistically toward future
In two separate articles appearing on IFAwebnews.com, the heads of two major insurers see a bright future. Despite a disappointing 2008 and amid rumors that his firm could sell its property-casualty...
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Prudential passes on government bailout funds
Prudential Financial announced it will not accept federal funds to help rebound financially, but instead, intends to try to raise $1.25 billion through a common stock offering. The Newark, N.J.-based...
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Hartford CEO Ayer to retire by end of the year
Indicating that the insurer has made “a series of important decisions” about its future, The Hartford Financial Services Group’s chairman and CEO, Ramani Ayer, has announced his plans to retire from...
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Five charged with insider trading ahead of Liberty Mutual’s deal to buy Safeco
Five people, including a former investment banker at Goldman Sachs & Co., were charged with tipping or trading on confidential information with respect to the sale last year of Safeco Corp to...
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The Hartford returns $48 million in workers’ comp. profits to Florida
Hartford Financial Services Group will return $48.2 million in excess profits it earned on its workers’ compensation policies over a three-year period in a deal with Florida regulators. Kevin McCarty...
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The Hartford to celebrate 200 years with new media launch
The Hartford Financial Services Group has decided to mark its 200-year milestone by giving its public image a new twist. The Hartford, Conn.-based company recently launched a new advertising campaign...
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Disability insurance claims filings fall in December, rise in January
The number of group disability insurance claims filed are at their lowest in November and December, ahead of a New Year’s wave of new claims, according to an analysis by a U.S. seller of group...
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Forecast: Life insurer’s stocks show new promise
Life insurers could be poised for a rebound this year, leading a key financial services investment bank to suggest a model financial portfolio should be “over weight” with life insurance stocks....
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Insurers that don’t need bailout funds will still pay through the nose
Just when you thought that federal bailout funds meant that only those firms that accepted TARP funds would be subject to fiscal confiscation, think again. Large insurers that own banks and that also...
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Federal court approves 401(k) settlement involving Hartford Life
A federal court in Connecticut has approved a partial settlement in a class-action civil suit involving the handling of 401(k) plans by Hartford Life Insurance Co. The settlement, whose financial terms...
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The Hartford names former AIG life executive to CFO post
The Hartford Financial Services Group has tapped a former executive with American Life Insurance Co. as its new chief financial officer. Christopher J. Swift The Hartford, Conn.-based company announced...
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AIG to pay $9 million to settle antitrust allegations in Ohio
Twenty-six public entities in Ohio, including several public schools and colleges, will benefit from $9 million American International Group plans to pay to settle a lawsuit claiming violations of the...
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Va. insurer’s new approach lowers clinical trial coverage rates
A Chantilly, Va.-based insurance company has developed a new approach to clinical trial and products liability protection that has led to up to a 30% reduction in some premiums. Medmarc said the new...
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Lincoln National Corp. to give U.S. back $950 million from stock offering
Philadelphia-based Lincoln National Corp. plans to buy back $950 million worth of preferred stock to pay back the U.S. Treasury for money it received from the government last year. Dennis R. Glass The...
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Hartford seeking buyouts to some annuity holders
Connecticut-based Hartford Financial Services Group is seeking annuity buyouts to reduce risk and boost capital. Hartford is seeking regulatory approval to offer some variable annuity owners cash in...
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