The Phoenix Cos. introduced a new series of indexed annuities it says brings flexibility and diversification to the marketplace.

Less than a week after paying $1 million in a settlement with the U.S. Securities and Exchange Commission over misleading proxy disclosures, an Iowa company now faces a $275,000 fine for allegedly selling unapproved annuity contracts in Minnesota.

Nationwide Life Insurance Co. and Nationwide Life and Annuity Insurance Co. have settled claims with five state insurance regulators regarding unsuitable variable annuity sales to clients of a Kansas-based financial advisory firm.