A California insurance agent was sentenced to 90 days in jail Feb. 29 after being convicted of selling an annuity to an elderly woman with dementia.

An insurance broker won $3.25 million from its former employer, Questar Capital Corp., after a financial arbitration panel found the firm guilty of defamation and breach of contract.

A Shoreview, Minn, woman pleaded guilty to embezzling about $400,000 while working as a client services specialist for Allianz Life Insurance Co

A West Trenton, N.J., insurance agent was fined $5,000 in Pennsylvania after he signed applications for annuities for his business partner, who was unlicensed.

Allianz Life Insurance Company of North America launched Simple Income III Rider on the MasterDex X Fixed Index Annuity (FIA), the first FIA to offer a lifetime income withdrawal rider with an option for inflation-protected income payments.

Pacific Life Insurance Co. awarded PIMCO a contract to manage a portion of its general account assets, a move it says puts the company on the “cutting edge” of insurer investing.

Great American Life Insurance Co. and its affiliate, Annuity Investor’s Life Insurance Co., have agreed to a settlement with Minnesota’s attorney general over the sale of deferred annuities to Minnesota residents.

With the announced exit of Allianz and Great American from the long-term care marketplace, which follows the exit of UNUM from the ILTC marketplace last year, consolidation in the long-term care insurance marketplace continues to occur. This consolidation, coupled with the economic downturn over the last year, creates an environment where advisors can (and should) re-evaluate their carrier/partner selection process.

A new survey about New Years resolutions indicates that Americans want more help with their finances than their fitness.

Allianz Life Insurance Co. of North America has introduced new living benefit riders to address growing concerns about personal retirement savings loss in the difficult economy.