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In Advisor Group lawsuit, the right hand is suing the left


In Advisor Group lawsuit, the right hand is suing the left
The independent broker-dealer, backed by Reverence Capital Partners, is suing an annuity company owned, in part, by the same private equity firm.
April 21, 2021
2
MINS
It’s a tale perhaps only possible in an era when the financial services industry is awash in private equity money: A large network of broker-dealers, Advisor Group Inc., is claiming in a lawsuit that an annuity manufacturer, the former Voya Insurance and Annuity Co., is in breach of contract and has turned its back on a marketing agreement that paid Advisor Group $300,000 per year. ....

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AM Best Affirms Credit Ratings of Equitable Holdings, Inc. and Its Life Subsidiaries


Press release content from Business Wire. The AP news staff was not involved in its creation.
AM Best Affirms Credit Ratings of Equitable Holdings, Inc. and Its Life Subsidiaries
January 13, 2021 GMT
OLDWICK, N.J. (BUSINESS WIRE) Jan 13, 2021
AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of Equitable Financial Life Insurance Company of America (EFLICOA) (Phoenix, AZ) and Equitable Financial Life Insurance Company (EFLIC) (New York, NY). EFLICOA and EFLIC collectively are referred to as Equitable Life Group. The outlook of these Credit Ratings (ratings) is stable. ....

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