Insurance News

Breakfast Briefing International Edition: The Costs of China’s Currency Policy… Toyota’s Massive Recall… China’s Shadow of Inflation…

.subtle { color: #888888; } • Barbados Shores Up a Troubled Four Seasons - online.wsj
• U.S.-Rescued Haitian Victims Treated on Hospital Ship - bloomberg
• Kyle Bass Is So Bearish On Japan, He Financed His Home In Yen - businessinsider
• Gates: Taliban Part of Afghan Political Fabric - online.wsj
• Toyota Broadens Massive US Safety Recall; Shares Down - cnbc

• China delivers growth but with shadow of inflation - ritholtz
• Poland Goes Without Bailouts - online.wsj
• Roubini says China can’t bring recovery alone - marketwatch
• Sergey Brin Reports From His Trip To Haiti - businessinsider
• The Costs Of China’s Currency Policy - forbes

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Life Groups Ask Dodd to Ditch RIA Provision in Regulation Bill

Requiring insurance agents to register as advisors costly, counterproductive, groups say — Trade groups representing life insurance agents are asking Senator Christopher Dodd (D-Connecticut), chairman of the Senate Banking Committee, to reconsider Section 913 of his bill, Restoring American Financial Stability Act, which would force life insurance agents to register as investment advisors… Investment Advisor: Life Groups Ask Dodd to Ditch RIA Provision in Regulation Bill

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MassMutual Retirement Services Call Center Recognized Among ‘Top Performers’ in the Contract Center Industry

MassMutual’s Retirement Services Call Center recently earned Gold and Silver awards as well as being highly commended in the 2009 Top Performers in the Contact Center Industry competition sponsored by ContactCenterWorld.com, North America.

MassMutual Retirement Services Call Center Recognized Among ‘Top Performers’ in the Contract Center Industry
Source: PR Newswire

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Brunch Briefing: Remember How We Bailed Out The Banks So They Could Keep Lending?

.subtle { color: #888888; } • Treasury: Only about 4% getting long-term mortgage help - money.cnn
• Fed Q3 Flow of Funds Report - calculatedriskblog
• Everything The Decade Made Obsolete - businessinsider

• CME Group Thrives on Technology Innovation - wallstreetandtech
• Bank of America avoids Feiberg’s latest round of pay cuts - money.cnn
• Comparing Expectations: Big Business vs. Small Business - businessweek

• Why Bank of America’s TARP Payback Is Bad News - consumerist
• The China Bubble - forbes
• Retail Sales: “Looks like the middle of August out there” - calculatedriskblog

• Gallup: Spending Down Across Incomes; WSJ: Stores Face Discount Dilemma - globaleconomicanalysis
• WaPo: New TARP Rules to Aid Small Businesses? - calculatedriskblog
• How the Bazaar by Jose Andres Is Changing Restaurants - online.wsj

• $13 Billion 30 Year Auction Closes At 4.52%, Big Tail In Ugliest 30 Year Auction This Year - zerohedge
• U.S. household net worth grows $2.7 trillion - money.cnn
• Remember How We Bailed Out The Banks So They Could Keep Lending? - businessinsider

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What’s causing the slow motion commercial real estate crash?

As the economy tries to rebound from its horrific slump, commercial real estate has remained a potential source of trouble. Both Federal Reserve Chairman Ben Bernanke and Treasury Secretary Tim Geithner have highlighted the uncertainty that exists in the sector, which could lead to loan losses hitting an already-fragile banking system. Of particular concern are regional banks, whose portfolios tend to be more heavily concentrated in commercial assets. This became particularly evident after Colonial Bank, an Alabama-based lender with significant exposure to construction and commercial loans, became the largest bank failure of the year…

DailyFinance: What’s causing the slow motion commercial real estate crash?

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Putnam’s CEO to Propose Expansion of 401(k) Retirement Plans

Putnam Investments Chief Executive Officer Robert Reynolds plans to urge regulators and investment professionals today to expand workplace retirement plans and make them safer.

Reynolds, in the text of a speech set to be delivered in Washington, proposes mandatory 401(k) enrollment for workers whose employers offer the plan and bigger tax breaks for companies that match contributions. He will speak at an event organized by 401kWire.com, a retirement industry Web site.

The average retirement-account balance sank 30 percent to $58,000 in the two years ended Dec. 31, according to Hewitt Associates Inc., a Lincolnshire, Illinois-based benefits- consulting firm. Investors had $2.7 trillion in 401(k) accounts as of Sept. 30, according to the Washington-based Investment Company Institute, a trade group representing mutual funds…

Bloomberg: Putnam’s CEO to Propose Expansion of 401(k) Retirement Plans

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Genworth Financial Launches Single Contract Income Solution

Genworth Life and Annuity Insurance Company (Genworth), a subsidiary of Genworth Financial, Inc. (NYSE: GNW) today announced the launch of RetireReady(SM) One, their newest variable annuity… For individuals and families, RetireReady One offers a basic death benefit… guaranteed income rider options are available for an additional cost and are designed to provide income certainty and predictability - a way to structure a personal pension-like program that is understandable and easy to track…

PR Newswire: Genworth Financial Launches Single Contract Income Solution

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Deficit imperils United States’ top credit rating

The United States is drawing closer to the kind of debt crisis plaguing some European countries, where a financial emergency forces political leaders to make draconian spending cuts and tax increases to maintain the confidence of international investors.

Moody’s, a top Wall Street credit agency, brought the U.S. closer to such a point this week by, for the first time, warning that the U.S. could lose its gold-plated AAA credit rating in coming years unless it quickly puts into place plans to curb budget deficits of more than $1 trillion that have the potential to destabilize government finances and the financial markets…

WashTimes: Deficit imperils United States’ top credit rating

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Breakfast Briefing: GMAC, Tiger, Credit Chargeoffs, BofA, Appraisals

.subtle { color: #888888; } • GMAC Set for Another Cash Infusion - online.wsj
• Save Money Using A “Clean” Credit Card - consumerist
• To Recruit the Best, Admit Weaknesses - businessweek
• Tiger Leaves Shareholders in the Rough - minyanville
• Innovation Is a Better Way to Compete - businessweek

• Credit Card Delinquencies, Chargeoffs Rise Again; BofA Has Credit Card Headaches - globaleconomicanalysis
• Fund Chief Snared by Taps, Turncoats - online.wsj
• Are Homes now “Cheap”? - calculatedriskblog
• Rich Cling to Life to Beat Tax Man - online.wsj
• Glass-Steagall sequel would be a horror show for banking bigs - investmentnews

• US Slaps China with Another Trade Penalty: Steel Grating - cnbc
• Euro-zone money growth turns negative - marketwatch
• Fannie, Freddie, Heading to Zero - ritholtz
• 5 things to know about Medicare Advantage plans - Dec. 30, 2009 - money.cnn
• Hacker Pleads Guilty To Conspiracy In Credit-Card Data Theft - money.cnn

• FDIC Insurance: Changes to TAGP effective on Jan 1st - calculatedriskblog
• The Daily Walk of Shame: Fannie and Freddie (FNM, FRE) - fool
• Is it time to change home appraisal practices? Realty Q&A - marketwatch
• Twenty years later, China avoiding Japan’s misteps - marketwatch
• The bears have literally disappeared - ritholtz

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Majority of Insurers Plan to Expand Internationally in Next 12 Months, Accenture Survey Finds

Despite the turmoil in the global economy, nearly two-thirds (62 percent) of insurers plan to grow outside of their home market in the next 12 months, according to findings of a global survey released today by Accenture.

Majority of Insurers Plan to Expand Internationally in Next 12 Months, Accenture Survey Finds
Source: EarthTimes

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