Two senators from Pennsylvania are raising concerns about the federal tax treatment for life insurance policy sales and purchases.

Michael McRaith, insurance director at the Illinois Department of Insurance, was named the first leader of the Federal Insurance Office (FIO).

U.S. Treasury Secretary Timothy Geithner told a congressional oversight group June 22 that the federal bailout of American International Group in 2008 could cost the U.S. taxpayers money.

Another lawsuit challenging the constitutionality of the mandate that individuals buy health insurance has been filed, this time arguing the law violates people’s religious rights.

American International Group’s plan to sell its Asian life insurance division to the British firm, Prudential PLC, has fallen apart, according to the U.S.-based insurer.

A life insurance trade group is expressing its concern over an Obama Administration proposal to tax annuity income to fund Medicare.

A House committee has scheduled a hearing to examine the Federal Reserve Bank of New York’s possible role in prohibiting public disclosure of some of the details of the taxpayer bailout of American International Group.

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.

Thirteen insurance trade groups are urging Congress to exclude all lines of insurance from the Consumer Financial Protection Agency recently proposed by President Barack Obama and the U.S. Treasury Department.

Advocates …  Read →

As the Obama Administration gets closer to a plan for financial services regulatory reform, the American Council of Life Insurers is reiterating its stance that those efforts should include an …  Read →