National Western Life Group, Inc. Announces 2018 Full Year and Fourth Quarter Earnings
{March 5th, 2019} by National Western Life Group, Inc.
AUSTIN, Texas, Feb. 28, 2019 /PRNewswire/ — Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today 2018 consolidated net earnings of $116.8 million, or $33.02 per diluted Class A common share, compared with consolidated net earnings of $110.4 million, or $31.23 per diluted Class A common share, for 2017. The Company’s book […]
AXA Equitable Holdings Reports Full Year and Fourth Quarter 2018 Results
{March 5th, 2019} by AXA Equitable Holdings, Inc.
NEW YORK–(BUSINESS WIRE)–AXA Equitable Holdings, Inc. (“AXA Equitable Holdings”, or the “Company”) (NYSE: EQH) today announced financial results for the full year and fourth quarter ended December 31, 2018. “AXA Equitable Holdings’ solid 2018 financial results reflect a strong debut year, in which we completed our initial public offering, effectively executed against our long-term strategic priorities, […]
A Textbook Way to Sell Annuities
{March 5th, 2019} by Kerry Pechter
If David Macchia didn’t have a native talent for selling insurance, and for selling ways to sell annuities, he might have been a professor or minister. The owner of Boston-based Wealth2k likes to teach. He believes in what he teaches, so he can be very persuasive. Click HERE to read the full story via RIJ; subscription required.
Brighthouse Posts Variable Annuity Strength Analysis
{March 5th, 2019} by Allison Bell
Brighthouse Financial Inc. has developed a new presentation, to support the argument that its variable annuity business will be a powerful source of cash from now through 2021. The Charlotte, North Carolina-based company is making that case to show investors, and securities analysts, that the company really can return $1.5 billion in capital to shareholders over the […]
Kansas City Life Insurance Company Announces Passing of Director
{March 5th, 2019} by Kansas City Life
KANSAS CITY, Mo., Feb. 27, 2019 /PRNewswire/ — Kansas City Life Insurance Company is deeply saddened to announce the death of Richard L. Finn on February 23, 2019. Mr. Finn was a member of the Board of Directors; he was also a member of both the Audit and Executive Committees. In addition to his Board service, Mr. Finn was a long-time […]
Put Variable Product Illustrations On IPads: Ben Baldwin to SEC
{March 5th, 2019} by Allison Bell
A longtime life insurance agent says the current U.S. Securities and Exchange Commission effort to create a summary prospectus for variable life insurance and variable annuity contracts is on the wrong track. Benjamin Baldwin Jr. — an Illinois financial services veteran who holds the Chartered Financial Consultant and Certified Financial Planner designations as well as the Chartered […]
Cogent Reports: Jackson National and Lincoln Financial Top Advisors’ Annuity Consideration Set
{March 5th, 2019} by Market Strategies International. Cogent Reports™. Annuity Brandscape™.
CAMBRIDGE, Mass.–(BUSINESS WIRE)–Financial advisors looking to invest client assets in annuities rank Jackson National, Lincoln Financial Group and Pacific Life in their top five across three types of annuities: variable, fixed and indexed. However, the leader and subsequent rankings vary by product category, as advisors are influenced by different factors when considering each product type. […]
Pan-American Life reports lower net income; notes pre-tax operating earnings set a record in 2018
{March 5th, 2019} by Advocate staff report
Pan-American Life Insurance Group on Tuesday reported net income for 2018 decreased 5 percent to $73 million, due to lower realized gains versus 2017. The New Orleans-based life, accident and health insurer said its pre-tax operating earnings increased 6 percent in 2018 to a record $93 million, with both its business divisions posting strong results. Sales […]
Why the Life-Insurance Industry Wants to Creep on Your Instagram
{March 5th, 2019} by Nathan Heller
Recent news that life insurers are now subject to a mild setback in the process for determining premiums might have been cheering if it didn’t come with a revelation that the actuaries of the world might be studying your Instagram feed. Last month, in a circular letter, the New York State Department of Financial Services, a major […]
What Makes a Hero?
{March 5th, 2019} by Lloyd Lofton
We all have an inner hero. The dictionary defines “hero” as “a person of distinguished courage or ability, admired for his or her brave deeds and noble qualities. Heroes come in many forms in life, ranging from one’s family and friends to athletes to movie stars. The reality hit me I was not one. Click […]
National Association for Advancement of Women in Insurance Celebrates Kickoff of Atlanta Community
{March 5th, 2019} by NAAWI
Conyers, GA, February 27, 2019 –(PR.com)– The National Association for Advancement of Women in Insurance, (NAAWI) a network for professional, multicultural women in the insurance industry, officially hosted the group’s debut on Tuesday, February 12, 2019 with a coalition of enterprising women at the Doubletree Hotel in Tucker, GA. NAAWI is an online professional membership […]
Do Fixed Indexed Annuities Cost More Than Other Fixed Income Annuities?
{March 5th, 2019} by Eva L. Levine
I. The Issue There is a common belief that fixed indexed annuities (FIA) cost more than other fixed income annuities such as the vanilla deferred income annuities (DIA) and the immediate annuities (SPIA). The basis for such belief is that FIAs are more complex in product design, which leads to higher fees such as surrender […]
Ohio National Faces Flood of Litigation After Axing Life Annuity Commissions
{March 5th, 2019} by Greg Land
Ohio National Life Insurance Co. is weathering a legal storm after announcing late last year that it will no longer pay ongoing “trail” commissions to brokers and advisers who sold and serviced its variable annuities from 2012 through 2018. At least 10 lawsuits have been filed in federal courthouses around the country since the insurer and […]
You Don’t Have to Be Wealthy to Work with an Insurance and Financial Advisor
{March 5th, 2019} by NAIFA
Events impacting Americans’ wallets in early 2019 – including the partial government shutdown and the lower-than-expected tax refunds – have put a spotlight on Americans’ financial lives, drawing attention to how common it is for Americans to live paycheck to paycheck and raising questions about their lack of preparedness to secure their financial futures. While […]
NAIFA Members Offering More Services, Staying Commission-Based
{March 5th, 2019} by Susan Rupe
You don’t have to be wealthy to have an advisor, the results of an industry association membership survey showed. The National Association of Insurance and Financial Advisors conducted its first comprehensive membership survey in nearly a decade. Among the findings are that members are offering more products and services than ever before, while still receiving […]
SEC Examines Guggenheim-Related Bond Trades
{March 5th, 2019} by Justin Baer
U.S. securities regulators are reviewing a series of bond trades by three insurance companies tied to Guggenheim Partners LLC, according to people familiar with the matter. The Securities and Exchange Commission has sought information on trades recommended by Strategy 11, a trading algorithm developed by Guggenheim to help the insurers select corporate bonds, the people […]
Regulators Consider Young Annuity Index Rules
{March 5th, 2019} by Allison Bell
State insurance regulators are moving ahead with a project that could affect the indexed annuity community: revising the rules for use of relatively new investment indexes. Members of the Annuity Disclosure Working Group plan to meet Thursday, through a conference call, to talk about the project. The working group is part of the National Association […]
The 15 Most Overpaid CEOs of Public Companies
{March 5th, 2019} by Bernice Napach
Even if you’re an advisor that doesn’t invest client funds in ESG, SRI or impact assets, you might want to consider these key findings from a new report, The 100 Most Overpaid CEOs 2019. The stock price of the companies with the top 10 overpaid CEOs underperformed the S&P 500 by 15.6 percentage points in 2018. Over […]
Growing Up Gen X: How Our Past Affects Our Planning
{March 5th, 2019} by Amy Jones
Amidst all the attention given to baby boomers and millennials, who vastly outnumber us, it is easy to forget about my generation, Gen X. This group is generally considered to be those of us born between 1965 and 1980: a time of uncertainty in everything from politics to economics; a time when there were only […]
The Math Of Being A Woman: How To Beat The Gender Retirement Gap
{March 5th, 2019} by Kristen Billows
March is National Women’s History Month, which honors the many significant contributions women have made to our country. These include impressive steps women have taken toward achieving full equality that began well before the passage of the 19th Amendment in 1920 and continues today. The financial services industry is uniquely positioned to support women in one […]
Insurance agent accused of scamming nearly $200K from three adults
{March 5th, 2019} by Alexis Stevens
In videos, the Henry County insurance agent says he can help those approaching retirement avoid unnecessary taxes and protect their assets. But instead of finding ways to make clients’ money last longer, Fereadoon “Frank” Kalantari conjured up ways to help pad his own bank account, investigators say. Friday, Kalantari was accused of scamming three adults […]
Nationwide announces powerful new guaranteed income rider
{March 5th, 2019} by Nationwide
COLUMBUS, Ohio, March 4, 2019 /PRNewswire/ — Nationwide, a leading insurance and financial services organization, and product development partner Annexus, the premier independent designer of fixed indexed annuities (FIAs), announced a new guaranteed lifetime withdrawal benefit feature available with the Nationwide New Heights® fixed indexed annuities, the top-selling accumulation FIA on the market.1 The Nationwide High Point 365® Lifetime Income Benefit […]
What millennials want from their advisors: Nationwide
{March 5th, 2019} by Michael Fischer
Millennials with investable assets of $100,000 or more have needs that it behooves financial advisors to take note of if they want them as clients, according to a special report from the annual Advisor Authority Study commissioned by Nationwide Advisory Solutions, formerly Jefferson National. “Year over year, RIAs and fee-based advisors say that adding new clients is the number-one […]
The NAIC’s Top 7 U.S. Life Insurers of 2018
{March 5th, 2019} by Allison Bell
The seven biggest players in the U.S. life insurance market ended up with a slightly smaller share of direct life insurance premium revenue in 2018 than they captured in 2017. The insurers’ direct life insurance premium revenue fell to $60.6 billion, down 1.4% from the 2017 total. Their share of the U.S. life market fell to 36.3%, […]
Broker’s Lawyer Sizes Up the Ohio National Litigation
{March 5th, 2019} by Greg Land
A lawyer for one of the brokers involved in the litigation with Ohio National Life Insurance Co. over trail commissions says the lawyers involved in the cases have been in contact with one another. Dennis Concilla — a partner at Carlile Patchen & Murphy in Columbus, Ohio — is part of the team representing Lance Browning, […]
Life Insurance Company Owner Faces Wall Street Journal Scrutiny
{March 5th, 2019} by Allison Bell
The owner of a life insurance group that Colorado Bankers Life Insurance Co., Bankers Life Insurance Co. of Florida, and Southland National Insurance Corp. of Louisiana is squaring off with reporters at the Wall Street Journal. Two reporters at the Wall Street Journal have suggested in an article published last week that Eli Lindberg, the chairman and chief […]
National Life Launches New Flexible Whole Life Product
{March 5th, 2019} by National Life Group
Montpelier, VT (March 4, 2019) -National Life Group announced today the introduction of TotalSecure, a new, flexible whole life insurance product that offers more living benefit options than any other life insurer. TotalSecure is issued by National Life’s carriers, National Life Insurance Company and Life Insurance Company of the Southwest. “While whole life insurance has traditionally […]
Genworth Posts Capitalization Update
{March 5th, 2019} by Allison Bell
Genworth Financial Inc. says one key measure of its U.S. life insurance company capitalization levels improved in 2018, and that the risk-based capital (RBC) ratio for the U.S. life business fell. The Richmond, Virginia-based company says that the “positive margin,” or capital cushion, at its Genworth Life Insurance Company (GLIC) unit increased to $1.5 billion at […]
Nevada Oversteps Its Authority on Fiduciary Reg: Trade Groups
{March 5th, 2019} by Melanie Waddell
Industry trade groups told the Nevada Securities Division on Friday that it should not only hold off in moving forward with its draft fiduciary duty regulation until the Securities and Exchange Commission finalizes its Regulation Best Interest — which is likely to be published before the fourth quarter — but that the state is reaching […]
Envestnet Insurance Exchange Launches Platform With Six Carriers
{March 5th, 2019} by Envestnet
Envestnet Insurance Exchange, a new insurance network that integrates insurance solutions into the wealth management process on the Envestnet platform, now offers access to a robust line-up of six carriers. Envestnet Insurance Exchange will streamline and enhance advisors’ ability to deliver the full lifecycle of financial advice to their clients. The carriers, Allianz Life, Brighthouse […]
New Tool Takes Away the Pain of Finding Insurance Agents Locally
{March 5th, 2019} by Insurance Agent Near Me
HOUSTON (PRWEB) FEBRUARY 14, 2019 Frank Medina, a leading insurance broker in Houston today announced the launch of Insurance Agent Near Me, a free online tool that connects customers with reputable insurance agents in their vicinity. Recognizing a crucial gap in how people find and choose insurance agents, this tool provides an innovative solution to a […]
This investment seems too good to be true — is it?
{March 5th, 2019} by Mark Hulbert
Would you be interested in an investment that’s guaranteed not to lose money but which makes money when the stock market goes up? Of course you would. In fact, such an investment seems too good to be true: How can you earn equity-like returns without incurring equity-like risk? However unbelievable, however, such investments are available—at […]
F&G Shakes Up The Usually Staid Annuities And Insurance Biz With A Bold New Identity
{March 4th, 2019} by FGL Holdings
DES MOINES, Iowa, March 4, 2019 /PRNewswire/ — FGL Holdings (NYSE: FG), a leading provider of annuities and life insurance to over 700,000 Americans, today unveiled a distinctive and innovative corporate identity program highlighting the company’s commitment to raise its visibility in the financial marketplace and reinforce how it stands out from competitors. The cornerstones of this program include […]
