The Financial Stability Oversight Council is voting this week on Prudential Financial Inc.’s challenge to a risk designation from federal regulators that would impose increased oversight on the insurer, according to two people with knowledge of the matter.
Senator Orrin Hatch is pushing an overhaul of public pensions that would let life insurers grab a bigger share of the $3 trillion in state and local funds, a potential windfall for companies such as MetLife Inc. and Prudential Financial Inc.
The package arrived at Cindy Lohman’s home in Great Mills, Maryland, just two weeks after she learned that her son, Ryan, a 24-year-old Army sergeant, had been killed by a bomb in Afghanistan. It was a thick, 9-inch-by- 12-inch envelope from Prudential Financial Inc ., which handles life insurance for the Department of Veterans Affairs.
The U.S. Department of Veterans Affairs failed to inform 6 million soldiers and their families of an agreement enabling Prudential Financial Inc. to withhold lump-sum payments of life insurance benefits for survivors of fallen service members, according to records made public through a Freedom of Information request.
American International Group Inc. and Allianz SE are among insurers deemed systemically important by global financial rule makers, meaning they may face tougher capital standards and tighter regulation.
Prudential Financial Inc., the insurer contesting a decision deeming it systemically important, won the support of the Federal Housing Finance Agency during a vote of U.S. regulators last month, two people familiar with the matter said.