Insurance industry
New York Attorney General Eliot Spitzer has unleashed a devastating probe into the nation's largest insurance companies, alleging a broad scheme of collusion and price-fixing within the $1.1 trillion industry. Leading insurance broker Marsh & McLennan Cos. has been charged with cheating corporate clients by rigging bids
Insurance industry
New York State Attorney General Eliot Spitzer has filed a lawsuit against Marsh Inc., the world's largest insurance broker, for allegedly rigging insurance prices and steering business to favored insurers in exchange for millions of dollars in kickbacks. The lawsuit, which also names American International Group (AIG) and
Insurance industry
The property and casualty insurance industry is facing a broad and deep corruption case, according to New York State Attorney General Eliot Spitzer, who has sued the nation's largest insurance brokerage, Marsh and McLennan, for allegedly rigging bids and steering clients to certain insurance carriers. The investigation, which
Insurance industry
As of September 30, 2004, portfolio information for John Hancock's closed-end funds, including performance, top-ten holdings, and sector weightings, is now available on the company's website. This information can also be obtained by calling (800) 225-6020 to order literature or by dialing the automated closed-end funds
Insurance industry
John Hancock Financial Services has introduced a new credit card payment option for its long-term care insurance customers, making it the first top-five carrier to offer this convenience. The payment option allows customers to charge their monthly or quarterly premiums to a MasterCard or Visa credit card, providing an alternative
Insurance industry
The John Hancock Patriot Global Dividend Fund has declared its monthly dividend, which represents an annualized yield of 7.11 percent, based on the fund's closing market price as of September 27, 2004. The fund's investment objective is to provide a high level of current income
Insurance industry
Protection UL with the newly introduced LifeCare Benefit Max (LMAX) rider has become a comprehensive solution for long-term care expenses by doubling the pool of money available for such expenses. This innovation allows for a guaranteed death benefit, and total benefit pool for long-term care assistance in a single product.
Insurance industry
Aviva, the parent company of Norwich Union, has revealed plans to move hundreds of jobs to India and Sri Lanka, while axing a "modest" number of jobs at its York head office. The restructuring comes as the company aims to reduce costs in tough market conditions. Norwich Union
Insurance industry
A shocking case of financial mis-selling has come to light, with Norwich Union agreeing to pay compensation to an elderly couple after one of its salesmen duped them into investing their life savings in a stock market fund. Roger and Elizabeth Corbett, from Dorset, had entrusted UKpound 30,000 to
Insurance industry
A.M. Best Co., a leading credit rating agency, has assigned a debt rating of A+ to Manulife's proposed issuance of CAD 100 million 6.10% perpetual, non-cumulative preferred shares. The proposed shares are being issued in conjunction with the merger of Manulife Financial Corp.'s operations
Insurance industry
John Hancock Tax-Advantaged Dividend Income Fund announced its monthly dividend, which translates to an annualized yield of 6.50 percent, based on the fund's closing market price as of September 10, 2004. This declaration aligns with the fund's objective to provide a high level of after-tax
Insurance industry
The Prudential Spirit of Community Awards, honoring outstanding community service by young people in grades 5-12, has been recognizing students for nine years and has drawn over 20,000 applications in the past four years alone. The program, sponsored by Prudential Financial, Inc. and the National Association of Secondary School
