Managed Volatility Is Key Focus For SEC
{December 2nd, 2014} by Arthur D. Postal
WASHINGTON— Adding managed volatility overlays to funds that underlie variable annuities “may raise important disclosure, suitability and other concerns,” according to Norm Champ, director of the Security and Exchange Commission (SEC) Division of Investment Management. Champ made his remarks at the 32nd annual ALI CLE 2014 Conference on Life Insurance Company Products in Washington. He […]
The top 10 annuity writers for Q3 2014
{December 1st, 2014} by Daniel Williams
Last week, we reported that total U.S. annuity sales reached $58.2 billion in the third quarter, falling two percent from the prior year. However, in the first nine months of 2014, total U.S. annuity sales increased 6 percent, compared with 2013, to reach $ $177.7 billion. Now, LIMRA has released another report that explains which […]
Genworth Introduces New Fixed Index Annuity With Lifetime Income Rider
{December 1st, 2014} by PR Newswire
RICHMOND, Va., Dec. 1, 2014 /PRNewswire/ — Genworth has introduced a new fixed index annuity with a lifetime income rider for consumers as young as 45 who want to start building retirement income that is protected from market losses and has the potential to grow before and after withdrawals begin. “With defined pension plans becoming […]
Storytelling Leads To Greater Selling
{December 1st, 2014} by Cyril Tuohy
With the holiday season upon us, there’s no better time to celebrate the power of storytelling and narrative. For financial and insurance advisors, stories provide one of the most effective means of selling the value of life insurance protection, with the power of narrative to reach an audience on simple and effective terms. Storytelling is […]
Hall of fails: National Underwriter’s 2014 Rogue’s Gallery
{December 1st, 2014} by National Underwriter Edit Staff
Who or what are those forces doing harm — either intentionally or unintentionally — to the life and health insurance industry? This year, we polled our readers and reviewed our own coverage to determine the top 10 culprits, which now make up the 2014 Rogue’s Gallery. From fraudsters to political pundits to government organizations, the […]
Improving economy to fuel gains for life insurers
{December 1st, 2014} by Warren S. Hersch
Strong asset valuations, an expected gradual rise in interest rates and continuing economic gains will underpin a stable outlook for U.S. life insurers in 2015, according to new report from Moody’s Investors Service. A November brief from the credit rating agency forecasts that an improving macroeconomic environment will help fuel increases in the insurers’ revenues […]
Millennials Are Overwhelmed By Retirement Saving
{December 1st, 2014} by Cyril Tuohy
For millennials, financial planning is easier in theory than it is in practice. That news may be hard to swallow for many young investors. But it’s also a signal that there’s a ready market for the financial advisors who can help them. In a new survey, 64 percent of millennials ages 18 to 35 said […]
Is Anyone Up For ‘Continuous’ Underwriting? BLOG
{December 1st, 2014} by Linda Koco
Here’s something you don’t hear about every day. It has to do with post-issue underwriting, and technology. Post-issue? That’s right. Celent surveyed insurers on whether they are interested in the concept of doing “continuous underwriting.” That would be underwriting after policy issue, in response to changes in a person’s condition or health or other underwriting […]
Falcone’s Surprise Split From Harbinger
{December 1st, 2014} by Linda Koco
In what some observers are describing as an abrupt departure, Philip Falcone will resign as chairman and CEO of Harbinger Group Inc. (HGI), effective Dec. 1. The news is of interest to insurance professionals because HGI is owner of annuity carrier Fidelity & Guaranty Life (FGL), among other holdings. The carrier has some relatively recent […]
Life Insurers Invest In Big Data Analytics
{December 1st, 2014} by N/A
WINDSOR, Conn., Dec. 2, 2014 — Nine in ten life insurance companies report using big data analytics to better compete in today’s market, according to a new LIMRA report. “While most companies are exploring big data analytics programs, less than a third feel they are ahead of their competition in this field,” said Norah Denley, […]
