More than just an insurance company
{April 29th, 2012} by Jennifer Bjorhus
Article by: JENNIFER BJORHUS Star Tribune April 28, 2012 – 9:12 PM Northwestern Mutual still sells a lot of life insurance — it’s one of the largest life insurers in the country. But it sees demand for broader financial planning growing, and so it is busy marketing a menu of other services such as asset […]
Genworth's Joelson Steps Down From Running $75 Billion Portfolio
{April 29th, 2012} by Andrew Frye
Andrew Frye, ©2012 Bloomberg News Saturday, April 28, 2012 April 28 (Bloomberg) — Genworth Financial Inc., the mortgage guarantor and life insurer, said Chief Investment Officer Ronald Joelson is leaving the company to join Northwestern Mutual Life Insurance Co. in the same role. Daniel Sheehan was promoted to oversee the $75 billion portfolio at Genworth, […]
Hartford selling facilities for new annuity sales
{April 29th, 2012} by N/A
The Associated Press April 26, 2012, 8:32PM ET HARTFORD, Conn. The Hartford is getting out of the annuities business and says Forethought Financial Group Inc. will buy its units that market and manage annuities sales. Hartford Financial Services Group Inc. announced the deal with privately-owned Forethought on Thursday. Hartford announced last month that it would […]
2 women sentenced in annuities scheme
{April 29th, 2012} by Janice L. Habuda
By Janice L. Habuda News Staff Reporter Published:April 27, 2012, 12:00 AM Two women will spend time behind bars for a scheme in which one sold annuities to elderly clients and the other was named the beneficiary. The scheme netted the two $393,440 before they were caught. Cynthia Bulinski, also known as Cynthia Gibbons, 48, of […]
Hartford to Sell Annuity Distribution as Paulson Presses CEO
{April 29th, 2012} by Andrew Frye
By Andrew Frye – Apr 26, 2012 Hartford Financial Services Group Inc. (HIG), the insurer scaling back under pressure from investor John Paulson, agreed to sell its individual annuities-distribution business to Forethought Financial Group Inc. The deal excludes assets and liabilities tied to annuities previously sold by the insurer, according to a statement today from […]
Hartford Sells Individual Annuity Unit
{April 29th, 2012} by N/A
April 27, 2012 Hartford Financial Services Group Inc said on Thursday it will sell its individual annuity operations to Forethought, a Houston-based financial services company. Terms were not disclosed, though Hartford said the deal was not material to its results. The majority of the employees in the annuity business will be offered jobs with Forethought, […]
Forethought at forefront as RJ pulls plug on Hartford annuities
{April 27th, 2012} by Darla Mercado
Company not prepared to put VA manufacturer on its platform By Darla Mercado April 27, 2012 Now that The Hartford Financial Services Group Inc. has decided to sell its annuity operations to Forethought Financial Group, Raymond James is dropping Hartford annuities as one of its sales options Scott Stolz, president of Raymond James Insurance Group, […]
The Revolution hires Sam Kavitsky as president
{April 27th, 2012} by Debbie Fiori
Press Release added by Debbie Fiori on April 27, 2012 Canoga Park, CA April 24, 2012 – The Revolution would like to announce the hiring of Sam Kavitsky as the President of Sales, Marketing & Recruiting. Sam has formerly been the President of Life Sales, an Allianz owned Marketing organization for the previous 4 […]
A Cure for Inflation? Fixed Indexed Annuities.
{April 27th, 2012} by Dave Vogel
By Dave Vogel April 24, 2012 • Remember when a can of soda cost a nickel? And candy bars were just a dime? Those days are long gone, as inflation over time has raised the price of just about everything. In the past, what your clients earned through wage gains or from their investments generally […]
Client’s Boyfriend Denies He Knew of Dementia in Neasham Case
{April 27th, 2012} by Steven A. Morelli
For more on the case, visit the Glenn Neasham page. By Steven A. Morelli InsuranceNewsNet The boyfriend of a client at the center of annuity agent Glenn Neasham’s case claimed he did not know the client had dementia even though an investigator’s report showed he admitted knowing — just months after an annuity sale that […]
Hartford sells individual annuity capabilities
{April 27th, 2012} by Mia Lamar
April 26, 2012, 12:48 p.m. EDT By Mia Lamar Hartford Financial Services Group Inc. /quotes/zigman/180454/quotes/nls/hig HIG -0.77% struck a deal to sell new business capabilities in its individual annuity operations, part of its plans to radically overhaul its business. Those plans were first revealed last month when the 200-year-old insurer said it would stop selling […]
Zurich Insurance to Cut 342 UK Jobs by 2015
{April 27th, 2012} by Robert O'Connor
Best’s News Service – April 26, 2012 02:52 PM LONDON – Zurich Insurance Group Ltd., which provides a range a life and nonlife insurance products in the United Kingdom, has announced the elimination of 342 U.K. jobs by the end of 2014. The job cuts, which will affect customer services and claims, will take place […]
A.M. Best Revises Outlook to Positive for the Oxford Life Insurance Company and Its Subsidiaries
{April 27th, 2012} by N/A
Best’s News Service – April 26, 2012 03:30 PM OLDWICK, N.J. – A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating of B++ (Good) and issuer credit ratings of “bbb+” of Oxford Life Insurance Company (Oxford Life) (Phoenix, AZ) and its subsidiaries, North American Insurance Company (North […]
Older population projected to double by 2050
{April 26th, 2012} by Paula Aven Gladych
By Paula Aven Gladych Older Americans accounted for 13 percent of the total population in 2010, or 40.3 million people, according to the U.S. Census Bureau. In honor of Older Americans Month, which is in May, the Census Bureau released some facts about those who are 65 and older. It showed that in 1990, there […]
Life insurance agent arrested for elder abuse
{April 26th, 2012} by N/A
The Associated Press Posted: 04/25/2012 10:41:50 AM PDT April 25, 2012 5:43 PM GMTUpdated: 04/25/2012 10:41:50 AM PDT LOS ANGELES—A Los Angeles life insurance agent has been charged with embezzling more than $1 million in premiums from elderly people who gave him money for life insurance policies and annuities. Insurance Commission Dave Jones says […]
Did Glenn Neasham Get What He Deserved?
{April 26th, 2012} by Bill Coffin
SPECIAL COVERAGE: The Prosecution of Glenn Neasham By Bill Coffin April 25, 2012 • National Underwriter is a watchdog publication – our mission, among other things, is to be a hard, but fair critic of the life and health industry, pointing out its shortcomings so it might do better, but also pointing out where the […]
Bill Introduced to Make FINRA Self-Regulating
{April 26th, 2012} by Arthur D. Postal
From the Washington Bureau By Arthur D. Postal April 25, 2012 • Legislation has been introduced that will lay the groundwork for the Financial Industry Regulator Authority to become a self-regulatory organization for investment advisers. The bipartisan bill was introduced by Rep. Spencer Bachus, R-Ala., chairman of the House Financial Services Committee, and Rep. Carolyn […]
The Right Fit
{April 26th, 2012} by Michael K. Stanley
SPECIAL COVERAGE: The Prosecution of Glenn Neasham By Michael K. Stanley April 25, 2012 • The saga of Glenn Neasham has elicited passionate responses on both sides of the aisle. A word that gets thrown around when discussing his sale of the MasterDex 10 Annuity from Allianz (MasterDex) to a then 83-year-old, dementia-stricken Fran Schuber […]
Why Annuities Are Now Cool
{April 26th, 2012} by Linda Koco
By Linda Koco InsuranceNewsNet ORLANDO – Large broker-dealers and wirehouses are tuning into income annuities, to the point that they are asking for support and information about the products, according to Gary Baker, president of CANNEX USA. In an interview before his talk here on the opening day of the Retirement Industry Conference, Baker said […]
Cost Perception May Deter Life Insurance Sales
{April 26th, 2012} by N/A
New LIFE Foundation and LIMRA Study Finds Misconceptions Over Cost May be Preventing Many from Getting Coverage They Need Windsor, Conn., and Arlington, Va. – April 25, 2011 – Consumers believe life insurance costs nearly three times the actual price, which may be deterring them from getting the coverage they say they need, according to […]
Playing It Safe – and Losing?
{April 25th, 2012} by Raymond J. Ohlson
April 24, 2012 By Raymond J. Ohlson AnnuityNews “Playing it safe … and losing?” How can that be? In the financial arena, if we only use “Safe Money Products,” then how can we lose? Okay, unless you break the rules, you won’t lose your principal. You will, however, lose to inflation and taxes. Let’s take […]
Miscarriage of Justice?
{April 24th, 2012} by Warren S. Hersch
SPECIAL COVERAGE: The Prosecution of Glenn Neasham By Warren S. Hersch April 23, 2012 • Four years ago, Glenn Neasham met with Fran Schuber and her long-time companion to close the sale of a fixed indexed annuity that would assure the 83-year-old senior of a guaranteed income for the remainder of her retirement years. […]
EIA Market Likely to Survive Aviva Exit
{April 24th, 2012} by Arthur D. Postal
From the Washington Bureau By Arthur D. Postal April 23, 2012 • The equity-index annuities market is likely to easily find capacity to replace Aviva if the second largest factor in the equity-index annuity market decides to shrink or change its role in the U.S. insurance marketplace. Benefitting from the tail winds generated by low […]
Analysts say it's unlikely Aviva can sell its U.S. division
{April 24th, 2012} by Adam Belz
11:44 PM, Apr. 23, 2012 | Written by ADAM BELZ Aviva may want to sell its U.S. business, but the real question may be whether anyone wants to buy it. Analysts say it’s unlikely the British insurer Aviva PLC can sell its U.S. division — headquartered at a $140 million campus in West Des Moines where […]
1,300 workers wait for company sale news
{April 24th, 2012} by N/A
UPDATED 9:39 AM CDT Apr 24, 2012 DES MOINES, Iowa – A British newspaper reported that Aviva USA, which has its headquarters in West Des Moines, could announce the sale of the U.S. division in May. Aviva USA employs 1,300 people at its headquarters near Jordan Creek Town Center in West Des Moines. The $43 billion […]
SNL: Aviva U.S.A. Ranks among Top 10 U.S. Life Operations Owned by Euro Carriers
{April 24th, 2012} by Warren S. Hersch
By Warren S. Hersch April 23, 2012 • Amid rumors that U.K.-based Aviva Plc is looking to offload its U.S. unit, new statutory data reveals that the collection of companies known as Aviva USA Corp. ranks among the top 10 U.S. life operations owned by European Companies. SNL Financial, Charlottesville, V.A., published this finding in a report showing that […]
CNO Financial to Record $20 Million Charge for Class-Action Settlement by Conseco Life
{April 24th, 2012} by Fran Matso Lysiak
Best’s News Service – April 23, 2012 02:13 PM CARMEL, Ind. – CNO Financial Group Inc. expects to record a roughly $20 million pretax charge in the first quarter on a tentative settlement of a class-action lawsuit by its Conseco Life Insurance Co. subsidiary. The litigation involves cost increases late last year on some universal […]
Aviva To Lose GBP1 Billion In US Exit – Report
{April 23rd, 2012} by N/A
Published April 22, 2012 | Dow Jones Newswires advertisement LONDON – Aviva PLC (AV.LN) is set to pull out of the U.S. in a move that could lose the U.K. insurer GBP1 billion, the Sunday Times reported, without citing sources. The sale of Aviva USA will be announced later this month and is unlikely to […]
Aviva sacks more than 1,300 workers by mistake
{April 23rd, 2012} by Anna White
The latest board shake-up at Aviva is radical, but not as radical as sacking its entire workforce by email. By Anna White 6:11PM BST 20 Apr 2012 More than 1,300 workers at Aviva Investors, the insurer’s asset management arm, were shocked on Friday to receive an exit email from the HR department. There was a […]
Response from NAFA: Indexed Annuities May Be Risky Investments
{April 23rd, 2012} by Pamela M. Heinrich, Esq.
Click here to read NAFA’s response to Meiselman, Denlea, Packman, Carton, & Eberz P.C.: http://nafa.com/2012/04/18/nafa-responds-to-indexed-annuities-may-be-risky-investments%E2%80%9D/ Dear Mr. Denlea, At the National Association for Fixed Annuities (NAFA), we recognize that the California indexed annuity case referenced in your blog article may signal an opportunity for your firm. However, if a client contacts you as a […]
Four Ways to Work Twitter
{April 23rd, 2012} by Amy McIlwain
By Amy McIlwain April 23, 2012 • A lot of advisors remain skeptical that Twitter can attract new prospects, but Twitter can generate new leads for advisors who position themselves as experts in their financial niche and can give them another place to showcase their knowledge and expertise. Here are some ways you can incorporate […]
Threats to the Independent Distribution Channel
{April 23rd, 2012} by Brian Anderson
By Brian Anderson April 23, 2012 • How would you rate the overall health of the independent distribution channel? Is that health improving or declining? The editors at Life Insurance Selling are beginning work on a series of articles that will explore the key challenges facing the future of the independent distribution model, including what […]
Insurance Agent: Almost the Best Job Ever
{April 23rd, 2012} by Noah Guillaume
10 jobs that ranked higher than yours based on five environmental factors By Noah Guillaume April 20, 2012 • CareerCast.com recently came out with its 2012 Jobs Rated report. It details 200 jobs ranked from best to worst based on physical demands, work environment, income, stress and hiring outlook. Use the report to get an […]
Joe Jordan: The Emotivator
{April 23rd, 2012} by Corey Dahl
By Corey Dahl April 23, 2012 • On the surface, the backstory of insurance legend Joe Jordan sounds typical, even fairly bland: college graduate who’s not sure what to do, career-wise, starts selling insurance. Works his way up the ladder on Wall Street. Eventually becomes a successful executive at a major insurance company. The end. […]
Marketing to Boomers: ‘Where Did My Retirement Go?’
{April 22nd, 2012} by Maria Wood
By Maria Wood April 16, 2012 • When the stock market turned their 401(k)s into 201(k)s and with private pensions going the way of Oldsmobiles, baby boomers now wonder if they will ever be able to retire at all. And that is where the aid of an advisor comes in. And more and more advisors […]
Protecting Boomers from Themselves
{April 22nd, 2012} by Daniel Williams
By Daniel Williams April 18, 2012 • Over the next couple of pages, you’re going to learn a lot about John Zidan’s views on boomers and how to connect with that influential demographic. But before we go there, let me tell you my John Zidan story. I went to visit Zidan in his hometown of […]
5 Steps for Boomers, Gen X and Gen Y to Prepare for Retirement
{April 22nd, 2012} by Bill Coffin
Analysis outlines the estimated impact of five actionable steps to help avoid a potential income drop in retirement By Bill Coffin April 18, 2012 • Fidelity Investmentstoday unveiled research that helps Boomers (born between 1946-1964), Gen X (1965-1978) and Gen Y (1979-1991) to close their estimated retirement income gaps. The research finds working American households […]
LIMRA: Longevity Risk Threatens Retirement Dreams
{April 22nd, 2012} by Robert A. Kerzner
By Robert A. Kerzner April 12, 2012 • There is good news and bad news about the way Americans are planning for their retirement years. The good news is they are aware of the importance of creating a lifetime stream of income. The bad news is their awareness falls short when it comes to accurately […]
Aviva Europe, North America and Investment CEOs to Step Down
{April 22nd, 2012} by Kevin Crowley
By Kevin Crowley – Apr 19, 2012 10:53 AM CT Aviva Plc (AV/), the U.K.’s second- biggest insurer by market value, said its heads of Europe, North America and investment management will step down as it creates two divisions for developed and higher-growth markets. Igal Mayer, chief executive officer of Europe, Richard Hoskins, CEO of […]
What Has Seniors Worried?
{April 22nd, 2012} by Daniel Williams
By Daniel Williams April 18, 2012 • Top of mind among senior concerns? The federal deficit and economic climate. As you continue to connect with your senior clients, it’s good to know what they’re worrying about, what they look for in an advisor and how to best reach their needs. Each year, we produce a […]
Alzheimer's Panel Speeds Past Planning Discussion
{April 22nd, 2012} by Allison Bell
By Allison Bell April 17, 2012 • Members of an Alzheimer’s disease advisory panel today spent little time talking about the recommendations they will make regarding the planning issues associated with the condition. The Advisory Council on Alzheimer’s Research, Care and Services – an arm of the U.S. Department of Health and Human Services (HHS) — met […]
Allianz Life Promotes Adam Brown to Assistant Vice President, Actuarial Product Development
{April 22nd, 2012} by Sara Thurin Rollin
press release April 19, 2012, 10:40 a.m. EDT MINNEAPOLIS, Apr 19, 2012 (BUSINESS WIRE) — Allianz Life Insurance Company of North America (Allianz Life) named Adam Brown as the new assistant vice president, Actuarial Product Development. In this role, Brown heads Allianz Life’s product development area in actuarial for Allianz Life Financial Services, LLC Distribution, […]
Insurance B/D to Shutter, Transfers Reps to Transamerica
{April 22nd, 2012} by Diana Britton
By Diana Britton Penton Business Media Insurance broker/dealer World Securities Group (WSG) has merged its operations with Transamerica Financial Advisors, both of which are subsidiaries of Netherlands-based AEGON. According to FINRA filings, John Creek, Ga.-based World Securities Group filed a request to terminate its FINRA registration in mid-February. The merger was approved Jan. 6. According […]
The Producers Group Hires Vice President Of Asian Development
{April 22nd, 2012} by Sarah Ventura
Peter Chang will Help The Producers Group Expand their Multicultural Platform. San Diego, CA – The Producers Group (TPG) announced today they have hired Peter Chang as the Vice President of Asian Development. Based out of the Company’s San Diego office, Chang will help to expand TPG’s Multicultural Platform. “We could not be more honored […]
Genworth Shares Tumble On IPO Delay
{April 22nd, 2012} by N/A
Associated Press NEW YORK — Shares of Genworth Financial Inc. tumbled Wednesday, a day after the insurance company said it would delay the initial public offering for its Australian mortgage insurance business until early next year. THE SPARK: The Richmond, Va.-based company said the IPO had previously been targeted for the second quarter of this […]
Annuity Fee Income at Banks Rose to $2.84 Billion in 2011
{April 22nd, 2012} by Maria Wood
An increase of 10.4%, according to Michael White Associates and the American Bankers Insurance Association By Maria Wood April 19, 2012 • A recently released report from Michael White Associates and the American Bankers Insurance Association (ABIA) found that income earned from the sale of annuities at bank holding companies (BHCs) jumped 10.4% in 2011, […]
Hartford Life Must Reduce Premiums, Issue Credits Totaling $24 Million
{April 22nd, 2012} by Elizabeth Festa
By Elizabeth Festa April 19, 2012 • Hartford Life Insurance Co. agreed to issue credits totaling $24 million to about 30,000 customers of accidental death and dismemberment services, Benjamin Lawsky, superintendent of the New York Department of Financial Services announced today. The company will provide premium credits to currently insured individuals in the form of […]
Nationwide Financial Introduces INCOME Promise Select
{April 22nd, 2012} by Noah Guillaume
ALSO: Industry news from BPV Wealth Management, Oak Street Funding, LIMRA, Work at Home Vintage Employees, & Penn Mutual By Noah Guillaume April 18, 2012 • Nationwide Financial, Columbus, Ohio, introduced INCOME Promise Select to help advisors with clients who want an income guarantee with the flexibility to adjust for unexpected financial needs that may […]
SEC Names New Investment Adviser Czar
{April 22nd, 2012} by Bill Coffin
Diane C. Blizzard to be Associate Director for Regulatory Policy and Investment Adviser Regulation By Bill Coffin April 19, 2012 • The Securities and Exchange Commission today announced that Diane C. Blizzard has been named Associate Director for Regulatory Policy and Investment Adviser Regulation in the Division of Investment Management. As Associate Director, Ms. Blizzard […]
Stop Promising to Split Commissions
{April 22nd, 2012} by Brandon Stuerke
The Strategic Alliance Advisor By Brandon Stuerke April 17, 2012 • As promised in last week’s blog, we’re spending the month of April looking at the top four mistakes advisors make in their efforts to work with CPAs and other professionals. Last week, we looked in detail at the mistake that most advisors make when […]
Prudential Names New Heads of Insurance, Annuities Businesses
{April 22nd, 2012} by Bill Coffin
Stephen Pelletier to lead Group Insurance; Robert O’Donnell to lead Annuities By Bill Coffin April 18, 2012 • Prudential Financial, Inc. (NYSE: PRU) today announced it has named two long-time executives to lead the company’s Group Insurance and Annuities businesses. Stephen Pelletier, who is currently President of Prudential Annuities, will become President of the […]
Who Will Be the Next Glenn Neasham?
{April 22nd, 2012} by Elizabeth D. Festa
SPECIAL COVERAGE: The Prosecution of Glenn Neasham By Elizabeth D. Festa April 20, 2012 • Lake County, California, is said to be known for a few things besides having the state’s largest freshwater contained lake—pear production, bird watching, wineries, recent meth lab busts and Glenn Neasham, the convicted insurance agent who thought, he claims, he […]
Cool, Free Stuff for a Moment of Your Time
{April 18th, 2012} by Sheryl J. Moore
Hey there! I really need your help. I need to know all of the things that prospects look for in a financial services professional. I’ve never had to look for one (simply because I came out of the womb asking for blood, urine, and an MVR). For that reason, I could really use your perspective […]
LPL makes major executive moves
{April 18th, 2012} by Bruce Kelly
Will promote recently hired Robert Moore as replacement By Bruce Kelly April 18, 2012 In a significant move, LPL Financial LLC is moving its president and one of its old guards, Esther Stearns, out to head a new subsidiary and promoting a more recent executive hire, current chief financial officer Robert Moore, to replace her. […]
Interest Rate Risk of Annuities
{April 18th, 2012} by Mark R. Triplett
April 18, 2012 By Mark R. Triplett AnnuityNews What is the one risk that CDs, fixed annuities and fixed indexed annuities share? Interest rate risk! You could, for example, miss out on having a higher interest rate credited to your savings if the current interest rates increase during the penalty period of the fixed interest-bearing […]
To Use Exclusive Annuity Distribution or Not?
{April 18th, 2012} by Linda Koco
April 18, 2012 By Linda Koco Contributing Editor, AnnuityNews Many insurance agents are curious about exclusive distribution arrangements for indexed annuities but they also find the arrangements to be a bit of a puzzle. That is even though exclusive arrangements have existed in the variable life and annuity market for many years, and in the […]
DTCC Releases Report on March and First Quarter Annuity Product Activity
{April 18th, 2012} by N/A
press release April 17, 2012, 2:48 p.m. EDT NEW YORK, Apr 17, 2012 (BUSINESS WIRE) — The Depository Trust & Clearing Corporation (DTCC) Insurance & Retirement Services (I&RS) released today March and first quarter information on activity in the market for annuity products from its award-winning Analytic Reporting for Annuities online information service, which leverages […]
Forbes Launches “Lifetime Financial Planning” Application
{April 18th, 2012} by Alexandra Talty
NEW YORK–(BUSINESS WIRE)– Forbes Media announces the launch of its Lifetime Financial Planning iPad application, available now at the iTunes App Store: http://itunes.apple.com/us/app/forbes-lifetime-financial/id491483343?mt=8. The application features a calculator that suggests how much a user should spend, save and insure each year to achieve a stable living standard, now and through retirement. The calculator, powered by […]
DTCC: Annuity Inflows Hit $7.7B in March, Up 10%
{April 18th, 2012} by Crystal Bueno
NEW YORK–(BUSINESS WIRE)– The Depository Trust & Clearing Corporation (DTCC) Insurance& Retirement Services (I&RS) released today March and first quarter information on activity in the market for annuity products from its award-winning Analytic Reporting for Annuities online information service, which leverages data from the transactions that DTCC processes for the industry. Analytic Reporting for Annuities […]
Newest Baby Boom Good for Life Insurance
{April 18th, 2012} by Alan Lavine
By Alan Lavine Penton Business Media More babies means greater demand for good old-fashioned cash-value life insurance. Young couples tend to buy life insurance to protect their families and babies are making a comeback. In fact, what has been called a “baby bust” in the United States is now over, according to a […]
The Hartford Closes Allianz Repurchase Transaction
{April 18th, 2012} by Shannon Lapierre
Company completes repurchase of debentures and common stock warrants for $2.425 billion HARTFORD, Conn.–(BUSINESS WIRE)– The Hartford announced today the closing of the repurchase from Allianz SE (together with certain of its affiliates, “Allianz”), for aggregate consideration of approximately $2.425 billion, all outstanding 10% fixed-to-floating rate junior subordinated debentures due 2068, with an aggregate principal […]
The Future of Aviva USA
{April 17th, 2012} by Tom Nawrocki
By Tom Nawrocki April 17, 2012 • After Aviva CEO Andrew Moss told an investors conference last week that the British insurance giant would investigate the possibility of selling off its North American operations, most of the speculation turned to how this would affect Aviva’s profitability and positioning in the marketplace. But just as critical […]
Zenith Marketing Group hires John J. Dugan, Jr. as Vice President of Business Development
{April 17th, 2012} by Paul Seidel
Press Release Added: April 16, 2012 Zenith Marketing Group, with offices in Freehold, NJ; Charlotte, NC; York, PA; and Wayne, PA announces the addition of John J. Dugan, Jr. as Vice President of Business Development. In this new role, Mr. Dugan will utilize his broad sales and training experience to develop new venues of […]
The Return of Cash Value: A Tipping Point for the Life Industry
{April 17th, 2012} by Mike Tinsley
By Mike Tinsley April 13, 2012 • In “The Tipping Point,” author Malcolm Gladwell defines the subject of his book as “the moment of critical mass, the threshold, the boiling point” where anything can change. The theory applies to trends of all types, from fashion to crime to health care. In the life insurance industry, […]
Athene Annuity Wins Technology Leadership Award
{April 17th, 2012} by N/A
GREENVILLE, S.C. — Fixed annuity carrier Athene Annuity & Life Assurance Company has received the 2012 Carrier Visionary Award from iPipeline, a leading provider of sales distribution software to the insurance industry. The award was presented to Athene at iPipeline’s Connections 2012 User Meeting & Conference held at the ARIA Resort & Casino in Las […]
S.O.S: Simplified Online Strategy
{April 17th, 2012} by Todd Greider
By Todd Greider April 13, 2012 • Time is of the essence. In today’s fast-paced world, information is shared at an astounding rate. New apps and blogs pop up across the Internet so fast that we can’t possibly keep up. Everyone needs a little help and I’d like to share my tools for […]
Ameriprise Didnt Charge Excessive Advisor Fees: 8th Circuit
{April 17th, 2012} by N/A
After a long, winding legal road, involving no fewer than six federal court decisions, Ameriprise Financial finally won a suit alleging that it had charged excessively high advisor fees. The suit, Gallus v. Ameriprise Financial, Inc., was originally filed in 2004 by shareholders in nine mutual funds managed by Ameriprise affiliates and made three major […]
Genworth Launches Lending Program for Advisors
{April 17th, 2012} by Ann Marsh
Ann Marsh Like their clients, financial advisors sometimes need access to capital to expand their businesses, acquire other companies and retire. To address this need, Genworth Financial Wealth Management of Pleasant Hill, Calif., launched a lending service to give its advisors access to cash when they need it through its new Business Transition Services Program. “An […]
Genworth launches advisory firm matchmaking service
{April 16th, 2012} by Jason Kephart
Seeks to link growing firms to sellers, arrange financing By Jason Kephart April 16, 2012 Genworth Financial Wealth Management Inc. today launched a business transition service geared toward helping advisers who are looking to grow through acquisitions, or set up succession plans and ease into retirement. Genworth is teaming up with The Bancorp Bank to […]
Life Insurance Activity Up 4.2 Percent Q1 2012
{April 16th, 2012} by David Aronson
PR Newswire Association LLC BRAINTREE, Mass., April 9, 2012/PRNewswire/ — U.S. application activity for individually underwritten life insurance leveled off in March at -0.3% year-over-year, all ages combined according to the MIB Life Index. Despite this month’s waning application activity, first quarter results were strong, up +4.2% year-over-year, the U.S. industry’s best start since […]
One-In-Five U.S. Adults Ages 26-64 Uninsured
{April 16th, 2012} by N/A
About 1-in-5 U.S. adults ages 26-64 report not having health insurance for the past year, a survey indicates. The Gallup-Healthways Well-Being Index, conducted from Jan. 2 to March 30, 2012, among 88,908 adults, found the percentage of all adults who get their health insurance through an employer trended down from 49.8 percent in 2008 to […]
Lincoln Financial Launches UL for Employer Benefit Packages
{April 16th, 2012} by N/A
PR Newswire Association LLC RADNOR, Pa., April 9, 2012 /PRNewswire/ — Lincoln Financial Group (NYSE:LNC) today introduced Lincoln Employee Value(SM) Universal Life (UL), issued by The Lincoln National Life Insurance Company, Fort Wayne, IN.Lincoln Employee Value(SM) UL enables employers to enrich their benefit packages with an employee-paid life insurance option offering the protection of […]
LIMRA: Nearly 20% of Life Insurance Shoppers Went Through Place of Work
{April 16th, 2012} by N/A
WINDSOR, Conn., Apr. 10, 2012 — A recent LIMRA study of Americans’ buying habits found that nearly 20 percent who shopped for life insurance went through their place of work, and 75 percent of workplace shoppers actually bought life insurance. “More and more people are turning to their place of work to get the financial […]
The Opportunity Within Annuities
{April 16th, 2012} by Juliette Fairley
Juliette Fairley Confidence in retirement security is shaky with only 36 percent of baby boomers saying they have enough assets to live comfortably in retirement, according to a new study. The Insured Retirement Institute’s second annual survey found that lack of confidence was even higher among the single and middle-income with three out of four […]
Wells Fargo Upgrades AIG on Likely Bailout Exit
{April 16th, 2012} by Sharanya Hrishikesh
Sharanya Hrishikesh (Reuters) – American International Group Inc. will likely become independent from the U.S. government over the next year, Wells Fargo Securities said, upgrading the shares of the bailed-out insurer to “outperform.” Since AIG restructured its relationship with the U.S. government over a year ago, the company has made “tremendous progress” in reducing its […]
Saying 'There Is a Lot of Work to Be Done,' Wash. Commissioner Kreidler Seeks Fourth Term
{April 16th, 2012} by David Hodes
Best’s News Service – April 13, 2012 03:18 PM OLYMPIA, Wash. – In the midst of such regulatory challenges as the Patient Protection and Affordable Care Act, Washington Insurance Commissioner Mike Kreidler said he has decided to seek a fourth term in office. “There is a lot of work yet to be done, but the […]
Three Must-Have Conversations with People You Know
{April 16th, 2012} by Bryce Sanders
By Bryce Sanders InsuranceNewsNet Magazine, April 2012 After four difficult years in the stock market, most people working with a financial advisor have a pretty good idea if their advisors are any good. Lots aren’t making the grade. There’s opportunity there. Wait a second! I’m insurance, not stocks. That’s someone else’s problem. Maybe, but it’s […]
Most Effective Social Media Practices Among Financial Services Firms
{April 16th, 2012} by Eileen Leonardo
Corporate Insight tracked over 90 financial services firms to provide a comprehensive analysis of the top offerings and key trends NEW YORK–(BUSINESS WIRE)– Corporate Insight, a leading provider of competitive intelligence and user experience research to financial institutions, today released a comprehensive report evaluating the most effective social media efforts currently offered by leading financial […]
Los Angeles Life Agent Sentenced for Grand Theft
{April 16th, 2012} by N/A
April 12, 2012 Targeted News Service SACRAMENTO, Calif., April 11 — The California Department of Insurance issued the following news release: Insurance Commissioner Dave Jones today announced that Lori M. Charles, 41, of Culver City, has been sentenced on one felony count for violating Penal Code Section 487 (a), Grand Theft. Charles entered a plea […]
Genworth Portfolio Solutions Pass $1B Mark
{April 16th, 2012} by N/A
PLEASANT HILL, Calif., April 11, 2012/PRNewswire/ — Genworth Financial Wealth Management(GFWM), a subsidiary of Genworth Financial, Inc.(NYSE: GNW), today announced that its Genworth Portfolio Solutions (GPS) strategies have crossed the $1 billionmark less than a year after the May 2011launch. GPS reflects GFWM’s philosophy of diversifying client assets across various investment approaches — some designed […]
Glenn Neasham to LifeHealthPro: ‘At No Time Did Fran Appear To Be Confused.’
{April 16th, 2012} by Maria Wood
The California insurance agent at the center of a case that has rocked the industry tells his side of the story By Maria Wood April 4, 2012 • No other story has captured the attention of the insurance and annuity industry in recent months like the case of Glenn Neasham. The California-based insurance agent was […]
Zurich’s Name Change to Zurich Insurance Group Now Official
{April 16th, 2012} by N/A
Zurich Financial Services Group has announced that the name change from Zurich Financial Services Ltd to Zurich Insurance Group Ltd “has become effective upon entry in the commercial register of the canton of Zurich.” Shareholders had previously approved the name change at the Annual General Meeting, held on March 29, 2012. The bulletin noted that “over […]
Great American Insurance names COO of annuity, supplemental businesses
{April 15th, 2012} by IBR Staff Writer
IBR Staff Writer Published 12 April 2012 Great American Insurance Group has named Mark Muething as COO of its Annuity and Supplemental businesses. Muething, continue in his role as general counsel and executive vice president of company’s subsidiary Great American Financial Resources (GAFRI), will also serve as COO of GAFRI. In 1993, Muething joined American […]
Symetra, Crump Life team up on life insurance, annuity sales
{April 15th, 2012} by IFA web news staff
By IFAwebnews Staff Posted: April 12, 2012 Symetra Investment Services has formed a strategic partnership with Crump Life Insurance for the sale of life insurance and annuities. “Our new partnership with Crump supports SIS’s strategy of aligning with leading firms to deliver a robust platform of insurance, investment and advisory services to help our advisors grow and […]
Who Should Buy Annuities?
{April 15th, 2012} by Lloyd Lofton
By Lloyd Lofton April 10, 2012 • Annuities are unique in that they offer a wide range of benefits for those thinking about how to fund their retirement as well as protect their assets while leaving a legacy for their loved ones. However, annuities are not an investment; they may not be suitable for everyone. […]
Boomers Could Inherit Trillions
{April 15th, 2012} by Daniel Williams
By Daniel Williams April 11, 2012 • According to a recent Cornell University study, baby boomers are in line to inherit $10 trillion over the next few years. And, women will be receiving the lion’s share of that money. “Women already control 60 percent of the nation’s personal wealth – they outnumber men and they […]
SunAmerica Reorganizes
{April 15th, 2012} by Arthur D. Postal
By Arthur D. Postal April 12, 2012 • American International Group’s SunAmerica Financial Group unit is reorganizing to consolidate and expand its distribution channels. It has named Stephen A. Maginn to head the unit that oversees retail distribution and a former Goldman Sachs executive, Jonathan Novak to head a new unit that will seek growth […]
Aviva would consider sale of U.S. unit; 1,300 employed in West Des Moines
{April 15th, 2012} by Adam Belz
5:19 AM, Apr. 13, 2012 Written by ADAM BELZ Aviva, the British insurance and financial services company with its North American headquarters in West Des Moines, would consider selling its U.S. business, analysts and news reports said Thursday. The Financial Times reported late Wednesday that CEO Andrew Moss told investors the company would consider offers […]
Broker Fined And Suspended For Equity Indexed Annuities and Whole Life Outside Business Activities
{April 15th, 2012} by Bill Singer
Bill Singer, Contributor Investing 4/13/2012 @ 9:27AM |1,176 views For the purpose of proposing a settlement of rule violations alleged by the Financial Industry Regulatory Authority (“FINRA”), without admitting or denying the findings, prior to a regulatory hearing and without an adjudication of any issue, Thomas R. Fortino submitted a Letter of Acceptance, Waiver and […]
Is Aviva USA for Sale?
{April 15th, 2012} by Michael K. Stanley and Maria Wood
By Michael K. Stanley and Maria Wood April 13, 2012 • A report in the Financial Times says that Aviva is considering the sale of its U.S. unit, a major player in the indexed annuity business. The FT article was based on comments from investment managers at a meeting with Aviva chief executive Andrew Moss […]
Aviva would consider sale of U.S. unit; 1,300 employed in West Des Moines
{April 13th, 2012} by Adam Belz
5:18 AM, Apr. 13, 2012 | Written by ADAM BELZ Aviva, the British insurance and financial services company with its North American headquarters in West Des Moines, would consider selling its U.S. business, analysts and news reports said Thursday. The Financial Times reported late Wednesday that CEO Andrew Moss told investors the company would consider offers […]
A Sale of Aviva USA in the Near Future?
{April 12th, 2012} by Sheryl J. Moore
I was absolutely shocked this morning to see the headlines regarding Aviva PLC welcoming offers on it’s U.S. life insurance subsidiaries. I’m interested to hear what all of you think about this? sjm
Aviva seen struggling to sell US operations
{April 12th, 2012} by Victoria Howley and Sudip Kar-Gupta
Reuters – 1 hour 31 minutes ago REUTERS/Cathal McNaughton LONDON (Reuters) – British insurer Aviva may struggle to sell its American operations, estimated to be worth some 1 billion pounds ($1.6 billion), due in part to a tough regulatory environment, investment bankers familiar with the industry said. Aviva Chief Executive Andrew Moss recently told an […]
The Guy in the Glass
{April 11th, 2012} by Dale Wimbrow
by Dale Wimbrow, (c) 1934 When you get what you want in your struggle for pelf, And the world makes you King for a day, Then go to the mirror and look at yourself, And see what that guy has to say. For it isn’t your Father, or Mother, or Wife, Who judgement upon you […]
MetLife Study Finds Contrary to Predictions, Boomers Are Retiring
{April 10th, 2012} by Deb Caruso
Business Wire, Inc. More Than 60% of 65-Year-Olds Already Collecting Social Security WESTPORT, Conn.–(BUSINESS WIRE)– Despite the popular belief that Baby Boomers will continue to work well past the traditional retirement age of 65, those born in 1946 are retiring in droves, according to Transitioning into Retirement: The MetLife Study of Baby Boomers at 65. […]
The Hartford: Small Business-Owner Women Feel More Successful Than Men
{April 10th, 2012} by Deborah Pont
Business Wire, Inc. Women small business owners cautious about nation’s economic recovery according to a survey conducted during Women’s History Month HARTFORD, Conn.–(BUSINESS WIRE)– Small Business Pulse, a survey conducted last month by The Hartford, reveals that female small business owners feel more confident in the success of their business than their male counterparts and […]
Vineland Life Insurance Salesman Still Going Strong At 100
{April 10th, 2012} by Kevin Post
Post, Kevin When Theodore Krause started working for what was then the Equitable Life Assurance Society of America, the application for a life insurance policy was three pages long. “They gave me one hour of training and wished me luck,” said Krause, of Vineland. That was so 65 years ago. Now the application and its […]
IRA Investors Hungry for Alternative Investments
{April 10th, 2012} by Margarida Correia
Margarida Correia Investors are interested in putting a portion of their IRAs toward alternative assets but lack the know-how — and often the advisors — to do so, according to a new study from PENSCO, an independent custodian for direct alternative investments in retirement accounts. The research found that more than three in four American […]
Many Investors, Especially Younger Earners, Neglect IRAs
{April 10th, 2012} by Mason Brawell
Mason Brawell A majority of Americans are not aware of the money that could be coming their way if they made an annual contribution to an Individual Retirement Account, says a recent survey by TIAA-CREF. Only 22% of Americans are putting some money into an IRA, and most who do save are not investing enough […]
The Hartford Announces Closing of Debt Offerings
{April 10th, 2012} by Bill Coffin
By Bill Coffin April 6, 2012 • The Hartford announced today the closing of an offering of $600 million of 7.875% fixed-to-floating rate junior subordinated debentures due in 2042 and an offering of $1.55 billion of senior notes. The senior note offering consists of $325 million of 4.000% notes due in 2017, $800 million […]
Will the Proposed Fiduciary Rule for Advisors Crush IRA Holders?
{April 10th, 2012} by Arthur D. Postal
By Arthur D. Postal April 6, 2012 • A new report by a consulting firm paints a dire picture of the potential impact of a proposed rule establishing a fiduciary standard for investment advisors selling products to IRA holders. The study by management consulting firm Oliver Wyman – “Assessment of the impact of the […]
Slideshow: 6 Famous Brands Started or Saved by Life Insurance
{April 10th, 2012} by Brian Anderson
Click here for a really cool piece on six famous brands that were perpetuated thanks to life insurance.
Looking for Long-Term Care Coverage? You Might Not Find It.
{April 10th, 2012} by William H. Byrnes, Esq., Robert Bloink, Esq., LL.M.
By William H. Byrnes, Esq., Robert Bloink, Esq., LL.M. April 9, 2012 • The cost of long-term care can be devastating to your clients if they are not prepared. Unfortunately, the long-term care insurance (LTCI) business has not been financially rewarding for major insurance carriers—they are abandoning the business in record numbers. As a […]
Limra CEO Says Market Downturn, Interest Rates Will Spur Companies to Sell Off Assets
{April 10th, 2012} by N/A
Best’s News Service – April 09, 2012 04:13 PM Limra CEO Says Market Downturn, Interest Rates Will Spur Companies to Sell Off Assets OLDWICK, N.J. – As companies re-examine where to put their capital, many will continue to sell off pieces that aren’t profitable, according to Robert Kerzner, president and chief executive officer of […]
Indexed UL Finds the Sweet Spot — and Stays There
{April 10th, 2012} by Brian Anderson
By Brian Anderson April 9, 2012 • Indexed universal life is hot — so hot, perhaps, that it is creating a drought for some other life insurance products. IUL continues to effectively exploit the sweet spot between safe, low-rate permanent life insurance and riskier variable life insurance. Clients just love the value proposition of a […]
A New Reality Requires an ‘Old’ Approach
{April 10th, 2012} by Laura Hahn
By Laura Hahn April 9, 2012 • Sure, we may all long for the fixed annuity rates of the past. But rates are relative, aren’t they? I bet real estate agents deal everyday with someone selling his home who wants more for it than the current market warrants. Banks have many clients who want […]
AIG Among 3 Still Under the Shade of the TARP
{April 10th, 2012} by Michael K. Stanley
Treasury: CEO Compensation Frozen at 2011 Levels for AIG, Ally and GM By Michael K. Stanley April 9, 2012 • The Treasury announced on April 6, 2012 that the chief executives of AIG, Ally Financial and General Motors would have their compensation packages frozen for a second year in a row, essentially keeping their […]
Fixed annuities and indexed annuities are looking up.
{April 6th, 2012} by Steve Thompson
By Steve Thompson on April 4, 2012 at 7:15 am Investors choosing to hold their expendable income in fixed annuities and indexed annuities have been on the rise over the past year. This corresponds with the historical nature of an annuity behavior in the wake of a recession. However, the interest in both fixed annuities […]
The Impact Partnership and Security Benefit Life Announce New Annuity Product With Upside Potential
{April 6th, 2012} by Ford Stokes
KENNESAW, GA – April 2nd, 2012 – The Impact Partnership and Security Benefit Life Insurance Company (Security Benefit), a Guggenheim Partners Company, announced today the launch of a new fixed index annuity product, the Total Value Annuity (TVA). With an initial limited release to 2,000 advisors on April 2nd, 2012, the TVA is a proprietary […]
US Sales of Fixed Annuities Drop 1.1% in 2011 Amid Historic Low Interest Rates
{April 6th, 2012} by Fran Matso Lysiak
Best’s News Service – April 04, 2012 03:30 PM EVANSTON, Ill. – Amid historically low interest rates, total 2011 sales of fixed annuities in the United States, including indexed, dropped 1.1% from 2010 to $75.6 billion, according to Beacon Research and the Insured Retirement Institute. The low interest rate environment has made it tough to […]
The Ohlson Group Launches Additional Consumer Financial Site
{April 6th, 2012} by Terri Gearlds
Carmel, IN – Raymond J. Ohlson CLU, CRC, President and CEO of The Ohlson Group, Inc. and Safe Money Places International LLC, announces the launch of an additional Safe Money consumer site: www.safemoneynews.com. “We are very excited about our new site,” Ohlson says. “Our first consumer site, www.safemoneyplaces.com will always remain the go-to site for […]
Creative Marketing Launches Geared – A Proprietary Business Consulting System
{April 6th, 2012} by Merrit Strunk
Geared Provides Producers Clarity, Action Steps and a Tangible Plan for Reaching Business Success LEAWOOD, KS – April 3, 2012 – Creative Marketing announces the launch of its exclusive Geared program, a comprehensive business consulting platform that assists individual producers with identifying their unique business challenges, clarifying their goals and objectives, and providing a plan […]
Boomers: What They Worry About
{April 6th, 2012} by Lloyd Lofton
By Lloyd Lofton April 3, 2012 • Today someone in America is retiring. In fact, starting back in January of 2011 some 10,000 individuals a day are retiring. The baby boomer generation, born between 1946 and 1964, are now making decisions that will have a lasting impact on this next phase of their lives. […]
Symetra Names Curt Olson VP, Head of Relationship Management for Registered Investments
{April 6th, 2012} by Diana McSweeney
press release April 5, 2012, 2:00 p.m. EDT BELLEVUE, Wash., Apr 05, 2012 (BUSINESS WIRE) — Symetra Life Insurance Company today announced the appointment of Curt Olson as vice president and head of Relationship Management for Registered Investments. In this new role, Olson will build and manage the distributor network for Symetra’s planned variable annuity […]
Let the Social Networking Games Begin
{April 4th, 2012} by Sheryl J. Moore
Good morning everyone! It is another one of those sleepless nights for me, here in the indexed annuity capital of the world. Before I get into my rant here, I just want to let it be known that I am just as competitive as the next gal/guy out there. Probably more so […]
Genworth cuts ‘humbled' CEO's bonus as insurer misses targets
{April 4th, 2012} by N/A
Michael Fraizer’s 2011 incentive shrunk to $750,000, down from $2.25M target April 4, 2012 Genworth Financial Inc. cut Chairman and Chief Executive Officer Michael Fraizer’s annual bonus to a third of his target as the life insurer and mortgage guarantor failed to meet its goals. Fraizer was awarded $750,000 in annual incentive compensation for 2011, […]
Sell Only Variable Annuities? Plans Change, and so Should You.
{April 4th, 2012} by Sheryl J. Moore
By Sheryl J. Moore March 29, 2012 • What are the possibilities that your clients will use their annuities for purposes other than what you discussed at point-of-sale? This question should be of particular interest to agents who sell their clients only variable annuities (VAs). If I had a dollar for every time a […]
Bull Market Mystery
{April 4th, 2012} by W. Andrew Unkefer
Posted By: Editor On 4/4/2012 11:52:00 AM By W. Andrew Unkefer AnnuityNews Today’s economic environment is an excellent example of the influence that market makers have on people’s decisions. Countless American’s are being lured by the potential of higher returns but not always being made fully aware of the risks associated with their decisions. It […]
United States of Annuities
{April 4th, 2012} by Linda Koco
Posted By: Editor On 4/4/2012 10:53:00 AM By Linda Koco InsuranceNewsNet Magazine, April 2012 Talk about strange bedfellows. The federal government, courtesy of proposed regulations and rulings from the Departments of the Treasury and Labor, has started encouraging Americans to consider using annuities to help create a lifetime retirement income. That sounds like the makings […]
Cetera closes deal for Genworth
{April 3rd, 2012} by Andrew Osterland
Name change is in the works for acquired B-D By Andrew Osterland April 3, 2012 Cetera Financial Group completed the acquisition of Genworth Financial Investment Services Inc. yesterday, bringing in about 1,800 financial advisers managing $13 billion in assets. Genworth, which focuses on tax and accounting professionals who provide financial advice, is Cetera’s fourth broker-dealer. […]
Women want financial peace of mind — not stack of cash: Research
{April 3rd, 2012} by Lavonne Kuykendall
Planning seen more as protection against the unexpected, rather than a wealth accumulator By Lavonne Kuykendall April 3, 2012 When it comes to women investors, the conventional wisdom is often wrong, according to research by LPL Financial LLC. “There is a sea of sameness when it comes to marketing materials and approach,” said Marissa Fox-Foley, […]
Financial planners, clients drawn to safety of variable annuities
{April 3rd, 2012} by Bob Graham
By Bob Graham Posted: April 2, 2012 Almost half of financial planning professionals say they bring up variable annuities in “every conversation” with their clients, according to a new survey. In the wake of the global financial crisis of 2008, increased attention is being paid to variable annuities because clients want “guaranteed investments,” according to […]
Advisor Recommendations of VAs Up Dramatically Since 2008
{April 3rd, 2012} by Warren S. Hersch
By Warren S. Hersch April 2, 2012 • Advisors have dramatically increased their recommendations of variable annuities since the 2008 credit crisis, mostly in response to greater client demand for guaranteed income, according to a new survey. The Insured Retirement Institute and Alliance Bernstein LP published this finding in a survey released today at IRI’s […]
Limra: US Sales of Variable Annuities Up 13% in 2011 as Writers Face Living Benefit Risks
{April 3rd, 2012} by Fran Matso Lysiak
Best’s News Service – April 02, 2012 04:56 PM OLDWICK, N.J. – Total 2011 sales of variable annuities in the United States grew to $159.3 billion, a 13% increase from 2010 as writers continue to manage the risks on the living benefit riders they offer on these stock-market-linked retirement savings and income products, according to […]
Hartford Financial to Pay Back $2.43 Billion to Allianz
{April 3rd, 2012} by Meg Green
Best’s News Service – April 02, 2012 03:13 PM HARTFORD, Conn. – Hartford Financial Services Group said it would buy back $2.43 billion in securities from Allianz SE, which ends the financial support the company received during the 2008 financial crisis. Hartford said it would repurchase all outstanding 10% fixed-to-floating rate junior subordinated debentures due […]
The Impact Partnership and Security Benefit Life Announce New Annuity Product With Upside Potential
{April 3rd, 2012} by N/A
press release April 2, 2012, 5:10 p.m. EDT KENNESAW, Ga., April 2, 2012 /PRNewswire via COMTEX/ — The Impact Partnership and Security Benefit Life Insurance Company (Security Benefit), a Guggenheim Partners Company, announced today the launch of a new fixed index annuity product, the Total Value Annuity (TVA). With an initial limited release to 2,000 […]
The Hartford Buying Back Securities Sold to Allianz During Financial Crisis
{April 3rd, 2012} by Arthur D. Postal
By Arthur D. Postal April 2, 2012 • The Hartford Insurance Group says it is buying back, at a steep premium, securities it sold to Allianz during the height of the 2008-2009 financial crisis. Despite the high cost, Stern Agee analyst John Nadel calls the decision positive because it improves the Hartford’s financial flexibility. The […]
Hartford Paying Allianz $2.43B To Buy Securities
{April 3rd, 2012} by N/A
Associated Press HARTFORD, Conn. — The Hartford Financial Services Group Inc. said Monday that it will buy back debt and warrants from German insurance company Allianz SE for about $2.43 billion. The Hartford, Conn., company said in a filing with the Securities & Exchange Commission that it plans to repurchase $1.75 billion in junior subordinated […]
Market Uncertainty Has Increased Demand for VAs
{April 3rd, 2012} by N/A
NEW YORK, April 2, 2012/PRNewswire/ — Consumers and financial advisors, increasingly concerned about meeting retirement goals, are finding that variable annuities (VAs) effectively address financial security concerns, according to a new survey by AllianceBernstein L.P. (AllianceBernstein) and the Insured Retirement Institute (IRI). The study, unveiled today at the IRI Marketing Summit, offers insights into how […]
BB&T Completes Acquisition Of Crump
{April 3rd, 2012} by N/A
PR Newswire Association LLC WINSTON-SALEM, N.C., April 2, 2012 /PRNewswire/ — BB&T Corporation (NYSE: BBT) announced today that it has acquired the life and property and casualty insurance operating divisions of Roseland, N.J.- based Crump Group Inc. The acquisition creates the largest independent wholesale distributor of life insurance and one of the largest providers of wholesale […]
American General Life Launches 'AG Secure Survivor GUL'
{April 3rd, 2012} by N/A
Business Wire, Inc. HOUSTON–(BUSINESS WIRE)– American General Life Companies (American General) announces the availability of AG Secure Survivor GUL, last survivor guaranteed universal life insurance featuring guaranteed death benefits and “optionality” — the flexibility to adapt the policy to changing needs in the future. “At American General, we’re committed to helping our valued distribution partners […]
Minnesota Legislature Passes Insurance Licensing Legislation
{April 3rd, 2012} by N/A
Targeted News Service ALEXANDRIA, Va., April 2– The American Society of Travel Agentsissued the following news release: ASTA praised its Minnesota members for their grassroots efforts and also commended the Minnesota Legislature for its unanimous passage of a Travel Insurance Bill that will shift the licensing burden for the sale of travel insurance from travel […]
Advisors Excel Introduces a New Fixed Annuity Offering Gains Protection and Growth Opportunity During Bear Markets
{April 2nd, 2012} by Josh Jones
press release April 1, 2012, 8:00 a.m. EDT TOPEKA, KS, Apr 01, 2012 (MARKETWIRE via COMTEX) — Until now, fixed index annuities designed for retirement income have not been able to solve for substantial growth opportunity when markets decline. Today, Advisors Excel is one of a select group of distributors to offer the Total Value […]
OneAmerica introduces fixed indexed annuity
{April 2nd, 2012} by Jim Gavin
New product’s features and benefits considered solid option for choppy market environment Contact: Jim Gavin, Media Relations Manager 317-285-4168 or jim.gavin@oneamerica.com Indianapolis (April 2, 2012) – Consumers who are reluctant about returning to the equity markets can benefit from potential market gains without facing any potential for loss if the market dips with the newly […]
Pacific Life Announces Officer Promotions
{April 1st, 2012} by Tennyson Oyler
press release March 28, 2012, 12:13 p.m. EDT NEWPORT BEACH, Calif., Mar 28, 2012 (BUSINESS WIRE) — Pacific Life Insurance Company’s Chairman and Chief Executive Officer James T. Morris recently announced seventeen officer promotions. The following promotions will be effective April 1, 2012. T. Anthony “Tony” Premer to senior vice president, Real Estate Finance, Real […]
What’s Hot in Annuities? Guarantees.
{April 1st, 2012} by David Port
By David Port March 28, 2012 • Welcome to the post-meltdown insurance market, where guarantees are golden—and priced accordingly; where volatility is a four-letter word for investors and insurers alike; where de-risking has become an imperative for many insurance companies; where investors value downside risk protection as much or more than upside potential; where insurers […]
AnnuitySpecs.com: Indexed Annuities Grow to Represent 45% of US Fixed Annuity Sales in 2011
{April 1st, 2012} by Fran Matso Lysiak
Best’s News Service – March 28, 2012 12:19 PM PLEASANT HILL, Iowa – Total sales of indexed annuities in the United States stood at $32.3 billion in 2011, essentially unchanged from 2010 but the percentage of fixed annuities sold that are indexed grew to 45% last year, according to AnnuitySpecs.com, a firm that tracks the data. Sheryl […]
Hate The Hare Of Stocks, Trust The Tortoise Of Annuities
{April 1st, 2012} by Brian D. Mann
Posted By: Editor On 3/22/2012 12:18:00 PM By Brian D. Mann AnnuityNews This is the story of a client of mine and his quest to find a better way to manage his retirement money. As you will see, it took 25 years, but he finally lost his faith in the securities industry and saw the […]
Debunking Annuity Objections
{April 1st, 2012} by Sheryl J. Moore
March 29, 2012 By Sheryl Moore AnnuityNews When I started in the insurance business, I was an indexed life insurance expert. I worked in a home office for years before I even learned what an annuity was. Once I learned that an annuity was just a retirement savings vehicle that provides an income you can […]
DTCC Analysis Shows Fixed Annuity Activity Uptick
{April 1st, 2012} by Linda Koco
Posted By: Editor On 3/28/2012 10:38:00 AM By Linda Koco Contributing Editor, AnnuityNews Fixed annuities and indexed annuities are showing up on the radar of an annuity transaction processing service better known in insurance circles for its work with variable annuities. Called Analytic Reporting for Annuities, the service analyzes data on millions of annuity transactions […]
S&P Downgrades The Hartford's Life Subsidiaries
{April 1st, 2012} by Bill Coffin
Downgrade follows strategic announcement; other ratings affirmed By Bill Coffin March 21, 2012 • Standard & Poor’s Rating Services today lowered its counterparty credit and insurer financial strength ratings on most of the subsidiaries of Hartford Financial Services Group Inc. (NYSE: HIG) previously considered aggregated under Hartford Life–Hartford Life and Accident Insurance Co. (HLA), Hartford Life Insurance […]
Annuities Timeline
{April 1st, 2012} by Marvin Feldman
By Marvin Feldman, CLU, ChFC, RFC March 21, 2012 • Income annuities are an ancient idea having a major resurgence in our market. According to LIMRA, total annuity sales in 2011 reached $240 billion. In retirement planning, lifetime income annuities provide safety, security and a guarantee that annuitants will not outlive their income. But do […]
American General Names John Deremo Executive Vice President and Chief Distribution Officer
{April 1st, 2012} by Linda Malamut
press release March 27, 2012, 12:00 p.m. EDT HOUSTON, Mar 27, 2012 (BUSINESS WIRE) — American General Life Companies (American General) has named John Deremo Executive Vice President and Chief Distribution Officer. He joins American General from Protective Life Corporation, where he served as Senior Vice President and Chief Distribution Officer. “John is a highly […]
Annuities for 2012 could see even more interest
{April 1st, 2012} by Henry Steelman
By Henry Steelman on March 27, 2012 at 2:01 am Annuities are not something that were often talked about in the mainstream media just five years ago. At that point in time, most people were perfectly happy to continue to allow their stock market investments to continue to grow. All of the media was happily […]
Insurance Fees, Revealed
{April 1st, 2012} by Leslie Scism
By LESLIE SCISM It long has been one of the most tightly held secrets in the financial-services world: what your insurance agent is paid. That might be about to change, thanks to a new regulation in New York. Agents and brokers in the state now are required to alert clients, in writing, how they are […]
