The Editor's Inbox: Power grab was averted
{September 30th, 2010} by State Senator Merlin Bartz Grafton
The Editor’s Inbox: Power grab was averted By State Sen. Merlin Bartz Grafton North Iowa Media Group | Posted: Thursday, September 30, 2010 12:46 am | The general public might not know what fixed indexed annuities are, but they understand what local jobs are. Had the U.S. Securities and Exchange Commission been allowed to regulate […]
The Editor’s Inbox: Power grab was averted
{September 30th, 2010} by State Senator Merlin Bartz Grafton
The Editor’s Inbox: Power grab was averted By State Sen. Merlin Bartz Grafton North Iowa Media Group | Posted: Thursday, September 30, 2010 12:46 am | The general public might not know what fixed indexed annuities are, but they understand what local jobs are. Had the U.S. Securities and Exchange Commission been allowed to regulate […]
H.R. 5297: Partial Annuitization Provision to Take Effect Jan. 1, 2011
{September 28th, 2010} by Allison Bell
By ALLISON BELL Published 9/27/2010 President Obama today signed H.R. 5297, the Small Business Jobs Act of 2010 bill, into law. The bill has been a vehicle for getting many loan programs and tax break extension provisions through Congress. One provision, for example, will ease the rules small businesses follow when deducting cell phone costs from […]
Grassley, Harkin retained Iowa control
{September 27th, 2010} by Mike Weston
We are bombarded with stories of politicians who would rather argue and fight than get anything accomplished. Here is one where the cooperation of Sens. Chuck Grassley and Tom Harkin created a win for Iowa. Iowa employs thousands in the financial services industry. Recently, the Securities and Exchange Commission proposed regulations that would have greatly […]
The A, B, Cs and 1, 2, 3s of Annuities
{September 27th, 2010} by Casey Dowd
By Casey Dowd “The Boomer” is a column written for adults nearing retirement age and those already in their “golden years.” It will also promote reader interaction by posting e-mail responses and answering reader questions. E-mail your questions or topic ideas to thefoxboomer@gmail.com. We’ve discussed the pros and cons of opting for annuities in your retirement planning. […]
H.R. 5297: Partial Annuitization Measure to Go to Obama
{September 24th, 2010} by Allison Bell
By ALLISON BELL Published 9/23/2010 Members of the House today voted 237-187 to approve H.R. 5297, a bill that includes a provision that could make it easier for annuity holders to annuitize a portion of the assets held in a contract. The Senate already has passed H.R. 5297, the Small Business Lending Fund Act bill, and President […]
Allianz Life Promotes Andy Mattson to Director of Program Management
{September 23rd, 2010} by N/A
September 23, 2010 | Business Wire MINNEAPOLIS–(BUSINESS WIRE)– Allianz Life Insurance Company of North America (Allianz) today named Andy Mattson as the new director of Program Management. In this role, Mattson will be responsible for overall delivery and management of the Allianz Policy Administration Program and associated projects. He will also be responsible for providing […]
IMSA Board Calls for Transformation
{September 21st, 2010} by Allison Bell
By ALLISON BELL Published 9/20/2010 The Insurance Marketplace Standards Association (IMSA) board wants to replace IMSA with the Life Insurers’ Forum for Ethics and Compliance (LIFEC), a group that would focus on helping life compliance professionals do their jobs. The board of IMSA, Bethesda, Md., is having the group’s 61 member companies vote on a proposal […]
NAFA video on fixed and indexed annuities
{September 21st, 2010} by National Association of Fixed Annuities
NAFA video on fixed and indexed annuities
AXA Equitable Names Two New Executive Vice Presidents
{September 20th, 2010} by N/A
September 20, 2010 | PR Newswire NEW YORK, Sept. 20 /PRNewswire-FirstCall/ — AXA Equitable Life Insurance Company announced that David O’Leary has been elected to the position of executive vice president, Financial Protection, and Robert “Bucky” Wright has been elected to the position of executive vice president, Wealth Management. The appointments were confirmed during a Board […]
Missouri, Kansas Vie to Be Home to NAIC Headquarters
{September 20th, 2010} by Sean P. Carr
September 20, 2010 | BestWire Services The National Association of Insurance Commissioners is entertaining offers with incentives of up to $5 million to relocate within the Kansas City region it has called home for the past 26 years. State and local officials in both Missouri and Kansas want to lure the NAIC’s central office and […]
Senate Bill Passes With Provision Streamlining Annuity Process
{September 20th, 2010} by Jesse A. Hamilton
September 17, 2010 | BestWire Services In the small-business lending bill that has now passed the U.S. Senate was a provision that eases an individual’s ability to receive annuity payments from a portion of his or her non-qualified annuity contract. It streamlines the process that insurers saw as difficult, making it an easier single step. […]
Allianz Life Names Wellmann as Senior VP of Life Insurance Sales
{September 18th, 2010} by N/A
Copyright 2010 Close-Up Media, Inc.All Rights Reserved Professional Services Close-Up September 17, 2010 Friday 269 words Allianz Life Names Jason Wellmann as Senior VP of Life Insurance Sales Allianz Life Insurance Company of North America (Allianz) named Jason Wellmann as the new senior VP of Life Insurance Sales. According to a release, in this role, […]
American Equity Announces Note Offering
{September 17th, 2010} by NU ONLINE NEWS SERVICE
By NU ONLINE NEWS SERVICE Published 9/16/2010 An indexed annuity player will be offering $150 million in debt securities. American Equity Investment Life Holding Company, West Des Moines, Iowa (NYSE:AEL), says the securities will be convertible senior notes due 2015. The initial purchasers will get an option to buy $50 million in additional notes, the company […]
Second-Quarter U.S. Sales of Variable Annuities Rise 8.3% as Investors Return to Market
{September 17th, 2010} by Fran Matso Lysiak
WASHINGTON, Sep 16, 2010 (A. M. Best via COMTEX) — Total U.S. sales of variable annuities rose to $33.9 billion in the second quarter, an 8.3% increase from the same period in 2009, according to Morningstar Inc. and the Insured Retirement Institute. Year-over- year sales of these stock market-linked retirement-savings and income products advanced at […]
Aviva begins search for new chairman: Report
{September 17th, 2010} by N/A
LONDON: British insurer Aviva has begun the search for a new chairman to replace Colin Sharman, the Times reported on Thursday. Potential candidates for the top job include John Varley, who will step down from his role as Barclays chief executive next year, and Paul Myners, the former financial services minister, the Times said. Aviva […]
Bradley Smith to Lead SOA
{September 16th, 2010} by NU ONLINE NEWS SERVICE
By NU ONLINE NEWS SERVICE Published 9/14/2010 Members of the Society of Actuaries (SOA) have voted to make Bradley Smith, chairman of Milliman Inc., president for the 2011-2012 term. Smith will be the 2010-2011 president-elect, according to the SOA, Schaumburg, Ill. Smith, who received about 50% of the votes cast, is involved in all aspects of […]
D.M. shelter gets $750,000 donation from Nationwide foundation
{September 16th, 2010} by Jason Pulliam
Organizers behind the new Central Iowa Shelter and Services location in Des Moines got a $750,000 boost from the Nationwide Insurance Foundation, officials announced today. The money will be used to help build a new facility just south of the Central Iowa Shelter and Services location at 205 15th Street. The new shelter is vital […]
Treasury to Sell Lincoln Warrants
{September 16th, 2010} by NU ONLINE NEWS SERVICE
By NU ONLINE NEWS SERVICE Published 9/15/2010 The U.S. Treasury Department could soon free Lincoln National Corp. from the smothering embrace of the Troubled Asset Relief Program (TARP). The department is moving ahead with previously announced plans to sell warrant positions in Lincoln, Radnor, Pa. (NYSE:LNC). The departant plans to make a secondary public offering of […]
2 Women Plead Guilty In Aviva Embezzlement
{September 16th, 2010} by N/A
DES MOINES, Iowa — An attorney said two women charged in the alleged embezzlement of nearly $6 million from West Des Moines insurer Aviva USA will plead guilty. William Kutmus, the attorney for Phyllis Stevens, confirmed that Stevens and her partner, Marla Stevens, will enter guilty pleas next Thursday in U.S. District Court in Des […]
Aviva USA executive testifies on annuities
{September 14th, 2010} by Lynn Hicks
Rhonda Elming, a senior vice president of product management at Aviva USA, will testify today before a joint hearing of the departments of Treasury and Labor on retirement security. The hearing will focus on lifetime income options, and include mutual fund companies, retirement experts, employee advocates and others. Elming is scheduled to testify at 2:45 […]
AltiSure Group, LLC Chooses Ohlson as New Member
{September 14th, 2010} by N/A
September 9, 2010 – Carmel, IN – Raymond J. Ohlson, CLU, Founder and CEO of The Ohlson Group, announced on Tuesday, September 7, 2010, that his company has been selected as a member of the prestigious The AltiSure Group, LLC, an exclusive, members-only annuity and life insurance product design and distribution company. “We are very […]
ACLI Names New CEO
{September 14th, 2010} by N/A
September 08, 2010 Copyright: unknown Source: PR Newswire Wordcount: unknown WASHINGTON, Sept. 8 /PRNewswire-USNewswire/ — C. Robert Henrikson, Chairman of the American Council of Life Insurers (ACLI) and Chairman, President and CEO of MetLife, Inc., announced today the appointment of the Honorable Dirk A. Kempthorne as President and CEO of ACLI, effective November 3, 2010. He […]
NAIFA to Raise Dues
{September 14th, 2010} by Warren S. Hersch
By WARREN S. HERSCH Published 9/13/2010 SEATTLE — The National Association of Insurance and Financial Advisors (NAIFA) will be increasing dues Jan. 1, 2011, and again Jan. 1, 2012. The national council at NAIFA, Falls Church, Va., started to implement a 3-stage dues increase a year ago, in response to the effects of the recession and […]
Indiana Commissioner Dies
{September 10th, 2010} by Allison Bell
By ALLISON BELL Published 9/9/2010 Indiana Insurance Commissioner Carol Cutter has died. Cutter died Sept. 6 in Indianapolis, according to a death notice posted by the National Association of Insurance Commissioners (NAIC), Kansas City, Mo. Gov. Mitchell Daniels Jr., R, appointed Cutter to the commissioner post in June 2009. She succeeded Jim Atterholt, who left to […]
Allianz Life Hires Julia Gutz Moller as Senior Director of US Marketing
{September 9th, 2010} by Sheryl J. Moore
September 08, 2010 | Insurance Business Weekly Allianz Life Insurance Company of North America (Allianz) today named Julia Gutz Moller as the new senior director of US Marketing. In this role, Gutz Moller will be responsible for the advertising and marketing plans across all Allianz operating entities in the US. “Gutz Moller’s wealth of experience […]
ACLI: Dirk Kempthorne to Succeed Keating
{September 9th, 2010} by Trevor Thomas
By TREVOR THOMAS Published 9/8/2010 The American Council of Life Insurers (ACLI) has named Dirk Kempthorne to take over as its top executive Nov. 3. Kempthorne will succeed Frank Keating as president and chief executive officer of the ACLI. Keating, a Republican, was governor of Oklahoma from 1995 to 2003. Kempthorne, also a Republican, was mayor […]
Despite Desire for Guarantees, Americans Keep Old Attitudes about Annuities
{September 8th, 2010} by N/A
September 08, 2010 | Business Wire Copyright: Business Wire Source: Business Wire Wordcount: unknown Allianz Survey Demonstrates Need to Dispel Myths and Educate on Product Innovations MINNEAPOLIS–(BUSINESS WIRE)– Even after describing an annuity-like solution as their ideal financial vehicle, more than half (nearly 54 percent) of Americans aged 44-75 expressed distaste for the word “annuity”, […]
Keep feds out of fixed annuities
{September 8th, 2010} by Wendy Waugman & Esfand Dinshaw
By Wendy Waugman & Esfand Dinshaw Iowa’s insurance industry has helped build the state’s economy over the decades, constantly reinvesting in the communities it calls home. Tens of thousands of Iowans work at insurance companies, and hundreds of thousands from all over the nation turn to Iowa-based insurance firms to protect their long-term financial security. […]
Texas Commissioner: Budget Cuts in Department Could Hurt Insurance Regulation
{September 8th, 2010} by Jesse A. Hamilton
September 03, 2010 | BestWire Services The insurance regulator for Texas is predicting a need for a restructuring of the state’s oversight of insurers if his department is forced to make 10% budget cuts. If the legislature, which meets in January to begin work on the two-year state budget, decides its budget-balancing efforts will mean […]
The Hartford Enters Growing Market for Indexed UL Insurance With Simplified Policy Tied to the S&P 500(R)
{September 8th, 2010} by N/A
Consumers receive death benefit protection and upside account value accumulation potential linked to performance of the S&P 500(R) Equity Index, while enjoying downside protection against market-based losses. SIMSBURY, Conn., Sep 07, 2010 (BUSINESS WIRE) — The Hartford, which is well-known for its universal life and variable life insurance policies, is entering the $500 million market […]
The Hartford Enters Growing Market for Indexed UL Insurance With Simplified Policy Tied to the S&P 500(R)
{September 8th, 2010} by N/A
Consumers receive death benefit protection and upside account value accumulation potential linked to performance of the S&P 500(R) Equity Index, while enjoying downside protection against market-based losses. SIMSBURY, Conn., Sep 07, 2010 (BUSINESS WIRE) — The Hartford, which is well-known for its universal life and variable life insurance policies, is entering the $500 million market […]
Iowa responsible for regulation
{September 7th, 2010} by Jim Van Fossen
Iowa responsible for regulation Jim Van Fossen The Quad-City Times | Posted: Friday, September 3, 2010 2:00 am | Insurance firms all over Iowa breathed a sigh of relief when the federal financial reform bill ruled out regulation of fixed indexed annuities by the U.S. Securities and Exchange Commission. Regulation of these insurance products […]
Annuity update: If FIAs are not securities, what about FINRA 05-50?
{September 7th, 2010} by Jack Marrion
BY Jack Marrion Published 9/1/2010 On July 15, I sent a letter to FINRA CEO Richard Ketchum and asked, “Since 151A has been vacated and Congress says index annuities are exempt, when will FINRA be rescinding Notice to Members 05-50?” Ketchum hasn’t got back to me yet. Five years ago, “Notice to Members 05-50 Equity-Indexed Annuities: […]
Rebutting Senseless Views On Index Annuities
{September 7th, 2010} by Thomas K. Brueckner
By THOMAS K. BRUECKNER Published 11/16/2009 Index annuities, like all the tools in an advisor’s tool box, are neither good nor bad; they are merely one tool among many, which—when properly used—can solve a myriad of problems for older baby boomer clients. Example: On our recommendation, my client, a retired Army colonel, invested in several securities […]
Securian Announces 2 New Directors in Individual Life Manufacturing Unit
{September 3rd, 2010} by N/A
ST. PAUL, Minn.–(BUSINESS WIRE)–Chris Owens was named national sales director, Individual Life Insurance, for Minnesota Life Insurance Company, a subsidiary of Securian Financial Group, Inc. Owens joined Securian as a management services assistant analyst in 1999 and moved to the individual annuity unit in 2000. Most recently, he was manager of the individual annuity internal […]
