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McDonald's Claims Health Insurance Report Untrue

Fri 01 Oct 2010

Thursday, federal health officials and McDonald's both denied the truth of a story alleging the company planned to drop health insurance for nearly 30,000 hourly workers. The story, published in The Wall Street Journal, discovered a company memo that indicated the elimination of hourly-worker health benefits. Allegedly, the fast-food chain planned to cut the benefits unless legislators waived a requirement of the health care reform act.

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Profits at Prudential Soar in Spite of Scuttled AIA Deal

Thu 12 Aug 2010

Prudential reported today that its profits skyrocketed by 41 percent in the first half of the year. The unexpected growth comes in spite of Prudential's failed attempt to purchase AIA from AIG. Prudential's CEO believes Asia offers the largest growth potential in the insurance market, and the company will continue to establish a presence there.

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New Jersey Regulators OK Prudential's Life Insurance Payouts

Wed 11 Aug 2010

New Jersey regulators have found that Prudential Financial committed no wrongdoing in handling the benefits payout on the life insurance policy of a deceased solider killed in Afghanistan. Prudential's payout practices came under fire after a magazine reported the benefits were kept in money-market accounts instead of being distributed in a lump sum. Regulators found Prudential managed the retained-asset account in accordance with the law.

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Royal Bank Looking to Sell Liberty Life

Tue 10 Aug 2010

The floundering Royal Bank of Canada is looking to sell its American life insurance arm. Goldman Sachs has approached several buyers on behalf of the Royal Bank to try to sell Liberty Life Insurance. If the company sells, it would probably fetch no more than $1 billion.

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