A New Jersey Superior Court has approved a $5.15 million distribution plan to investors defrauded by Newark, N.J., native Robert Brennan and his firm in a case dating back nearly 15 years.

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.

On the heels of the New York Federal Reserve obtaining shares of two American International Group subsidiaries, one U.S. senator wants a clearer picture of how the troubled insurer plan to repay taxpayers.

The Pennsylvania Insurance Department and Kingsway Financial Services have both filed complaints in Commonwealth Court regarding the distribution of shares of troubled insurer Lincoln General.

Claiming an offer by a fellow Florida property-casualty insurer “substantially undervalues” its assets and earnings potential, 21st Century Holding Co. has rejected a proposal for a merger that could have netted a reported $42.5 million.

A former New York securities broker accepted a ban from the securities industry after allegations he defrauded a 90-year old Minnesota man of $511,000.

In what Prudential Financial is calling a “mutually beneficial partnership,” the Newark, N.J.-based firm has announced that a Japanese company is investing $500 million in its operations.

Univest Corp. of Pennsylvania announced the completion of its public offering of 3.4 million shares of common stock, a sale it expects to generate $55.5 million.

The Souderton, Pa.-based company, whose …  Read →

A shareholder suit against UnitedHealth Group over its apparent manipulation of stock options in 2006 has been settled.

U.S. District Court Judge James Rosenbaum granted the shareholders, who filed the suit …  Read →

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 insurer …  Read →