AIG crisis could be the tip of an insurance iceberg

The company's situation reflects problems throughout the life insurance industry as investments suffer. Further strain could bring about a second financial crisis. When insurance giant American International Group Inc. imploded last fall, the firm's problems were quickly blamed not on its core insurance business but on an obscure operation that traded exotic mortgage securities. But as the economic crisis deepens, it has become clear that AIG's problems extend across most of its business lines, including
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Forecast for Life Insurance Industry Challenging, LOMA Resource Survey Finds

With the economy in crisis, the 2009 forecast for the life insurance industry is challenging, according to executives surveyed by LOMA's Resource magazine... According to participants: In 2009, life insurance sales will hold steady, premium growth will be modest, but profits will decrease. Stock market volatility and the implosion of venerable financial institutions in 2008 have made consumers wary; consequently, variable products will be vulnerable as consumers move to more fixed products with guarantees. On
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Cigna will cut 1100 jobs and consolidate - Philadelphia Inquirer

Cigna will cut 1100 jobs and consolidate Philadelphia Inquirer, PA - 8 hours ago But what walloped Cigna were losses from two programs - its variable- annuity death-benefit program and its guaranteed-minimum death-benefit program. ...
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New York Life Insurance Company today announced that total sales of its income annuities have exceeded $1 billion for the first time, reaching more than $1.2 billion at year-end 2008. The
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Life Planning as Part of Retirement Planning

Helping employees build a nest egg is essential, but it's only part of the total retirement planning equation. Longer life spans mean that having a successful retirement takes not just financial planning, but "life planning." However, despite the fact that today's retirees have two or even three decades of active years ahead of them, few really think about how they're going to spend that time and what their retirement will mean for their family. Life
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U.S. Life Insurers Face Increasing Risk from Variable Annuities

Fitch Ratings sees equity market performance 2008 as having a dramatic impact on U.S. life insurers active in the variable annuity market. Persistent adverse market conditions will pressure life insurer's earnings and risk-based capital levels for the balance of 2008 and into 2009. The industry ability to manage this growing risk exposure represents one of the most significant risk management challenges confronting U.S. life insurers. U.S. Life Insurers Face Increasing Risk from Variable Annuities Source:
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Insurance Professionals See Investor Confidence of Retirement ... - MarketWatch

Insurance Professionals See Investor Confidence of Retirement ... MarketWatch - 13 minutes ago The NAVA member opinion survey was conducted via an electronic polling system on October 6, 2008, at the NAVA Annual Meeting in Philadelphia , Pa . ...
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Americans' retirement plans have lost as much as $2 trillion in the past 15 months, Congress' top budget analyst estimated Tuesday. Americans' Retirement Accounts Lost $2 Trillion
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Life Insurance & Estate Planning - What Wealthy Families Want to Know

An estimated $41 trillion in US assets will change hands by 2052.1 Families, especially wealthy families, have specialized estate planning needs but can be confused by complex estate planning strategies full of legalese so Pacific Life Insurance Company and Pacific Life & Annuity Company now offer a kit of “plain English” materials to show how life insurance can stabilize and strengthen estate planning techniques. Life Insurance & Estate Planning - What Wealthy Families Want to
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