| American Equity Announces First Quarter 2007 Sales and Schedules ...
WEST DES MOINES, Iowa--(BUSINESS WIRE)--April 10, 2007--American Equity Investment Life Holding Company ("AEL") today announced that its annuity sales in the first quarter of 2007 totaled $444.4 million, an increase of 5% over fourth quarter 2006 sales of $421.7 million. Monthly sales during the quarter were: January -- $133.0 million; February -- $132.6 million and March -- $178.8 million. "We are pleased that sales trends are moving the right direction, and that March sales show significant momentum", commented David J. Noble, Chairman, CEO and President of American Equity. "Building the productivity of our agency force will be our primary focus in our efforts to continue to build sales throughout 2007." AEL will announce its first quarter 2007 earnings after the close of market on Wednesday, May 2, 2007.
Splitting Tax Refund Could Help You Save Money
(CBS) CHICAGO Instead of going on vacation or buying a flat screen television, Uncle Sam wants you to save your refund money.So, as CBS 2 Consumer Reporter Dorothy Tucker reports, this year the IRS is offering a new plan that allows you to split your tax refund. Nobody really likes paying taxes, but a nice refund can make up for the pain. For Jim Wang, refunds got him started on a savings plan."That was a great way for me to start the whole Roth contribution process with a nice chunk of change that I've already pre-saved, said Wang, who is splitting his tax refund.The split refund direct deposit allows tax payers to have their refunds put into as many as three different accounts. You might put some into your regular savings account, some into an IRA and some into checking. "You simply need to file a Form 8888 with your return, and indicate the amounts, the bank routing information and your account number on that form, said Commissioner Rich Morgante of the IRS Wage and Investment Division.With the money split up, experts say you are less likely to spend it all at once.
Desjardins: Sun Life's New Retirement Income Product To Have ...
FP Trading Desk submits: Sun Life Financial Inc.'s (SLF) move to launch a guaranteed minimum withdrawal benefit [GMWB] product in Canada – a retirement income product that is similar to Manulife Financial Corp.'s IncomePlus product launched last fall, is a positive development for Sun Life, according to Michael Goldberg. Manulife had $1-billion in sales for its product in the first 19 weeks, the Desjardins Securities analyst said in a note to clients, adding that both companies are using their experience in the U.S. “in pricing and hedging a GMWB product as a foundation in Canada." “While there are some differences between the Sun and Manulife products, we believe that they expand the market for this product overall, much more than competing with one another," Mr.
McDermott Announces Retirement of $250 Million of Debt
HOUSTON -- McDermott International, Inc. (NYSE:MDR) (McDermott or the Company) announced it has accelerated the repayment of the $250 million term loan portion of The Babcock & Wilcox Companys (B&W) credit facility. This loan carried interest expense at LIBOR plus 3.0%, and the Company does not incur any penalty for the early retirement of this debt. Following this retirement, McDermott does not have any significant debt outstanding. Additionally, the Companys subsidiary, McDermott Incorporated, received this week $272 million from the United States Internal Revenue Service. This federal tax refund resulted from carrying back to prior tax years the tax loss generated in 2006, primarily as a result of $955 million of asbestos-related expenses paid last year associated with the settlement of B&Ws reorganization.
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