Life Insurance

Life Settlement Sales May Be Taxed as Capital Gains, IRS Rules
Bloomberg

By Rick Levinson June 4 (Bloomberg) — Seniors who sell their life insurance policies in the life settlement market may be able to treat a portion of the proceeds as capital gains rather than ordinary income, according to an Internal Revenue Service …
Life Partners Predicts Strong First Quarter Business Wire (press release)
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Northwestern Mutual Makes First Gold Buy in 152 Years
Bloomberg

By Andrew Frye June 1 (Bloomberg) — Northwestern Mutual Life Insurance Co., the third-largest US life insurer by 2008 sales, has bought gold for the first time in 152 years to hedge against further asset declines. “Gold just seems to make sense; …

ING Said to Plan 300 Job Cuts at Japan Insurance Unit
Bloomberg

By Takahiko Hyuga June 1 (Bloomberg) — ING Groep NV, the biggest Dutch financial-services company, plans to cut about 300 jobs at its Japan life insurance unit as it stops selling variable annuities in the nation, said two people with knowledge of the …

ING Said to Plan 300 Job Cuts at Japan Life Insurance Unit
Bloomberg

By Takahiko Hyuga June 1 (Bloomberg) — ING Groep NV, the biggest Dutch financial-services company, plans to cut about 300 jobs at its Japan life insurance unit as it stops selling variable annuities in the nation, said two people with knowledge of the …