What you may have missed last week
{November 29th, 2022} by Wink's Intel Pros
Did you miss last week’s newsletter? Click HERE to check it out! Top headlines: Wink, Inc. Releases 3rd Quarter, 2022 Deferred Annuity Sales Results THIRD QUARTER 2022 ANNUITY SALES Time for the structured annuity? and more!
Indexed, Multiyear Guaranteed Annuity Sales Rise In Q3
{November 29th, 2022} by Karen Demasters
Sales for annuities were a mixed bag for the third quarter of 2022, but multiyear guaranteed annuities and indexed annuities saw remarkable gains, according to a report by Wink, Inc., an insurance industry data reporting organization based in Des Moines, Iowa. Total third quarter sales for all deferred annuities were $72.4 billion, a decrease of […]
Wink’s Demo on AnnuitySpecs’ First-of-Its-Kind Documents Library Resource
{November 29th, 2022} by Wink's Intel Pros
Introducing Wink’s demo on Product Information, our library with the documents resource available in the AnnuitySpecs analysis tool, and how it can be useful to you. In addition to the product and rider specifications and the strategies/subaccounts, our documents resource includes the regulatory materials (policy filings, prospectus), marketing materials (client brochures), and the companies’ rates/states […]
Wolters Kluwer identifies top compliance challenges for U.S. insurers
{November 29th, 2022} by Wolters Kluwer GRC
BOSTON–(BUSINESS WIRE)–The U.S. insurance industry’s top market conduct compliance challenges continue to relate to various claims handling requirements, including timeliness, required disclosures, along with payments and grievance and appeal processes—as well as underwriting, rating, marketing and producer requirements. This annual, comprehensive review by Wolters Kluwer Compliance Solutions of U.S. insurers’ market conduct enforcement actions is based on […]
Indexed products headline strong 3Q annuity sales, Wink reports
{November 28th, 2022} by Staff Reports
Third-quarter sales of deferred annuities soared nearly 21% over the year-ago quarter, according to Wink’s Sales & Market Report. All deferred annuities include the variable annuity, structured annuity, indexed annuity, traditional fixed annuity, and MYGA product lines. Indexed products led the way, said Sheryl Moore, CEO of both Wink, Inc. and Moore Market Intelligence. Click […]
Athene, NY Life, MassMutual Sales Leaders in Fixed-Rate Segment in 3Q
{November 28th, 2022} by Cyril Tuohy
“Multi-year guaranteed annuity sales killed it this quarter,” said Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report, in a news release. With three-year, fixed-rate annuities paying out nearly three times what they were in the first quarter, the stellar sales results should come as no surprise, she added. Click HERE to read the full […]
Recent State Fiduciary and Best Interest Developments
{November 28th, 2022} by Faegre Drinker Biddle & Reath LLP
To date, 27 states have adopted rules that follow the Suitability in Annuity Transactions Model Regulation issued by the National Association of Insurance Commissioners (NAIC). Recent additions reflected in the following State Fiduciary and Best Interest Development chart include: Hawaii, Maryland, Minnesota, North Carolina, South Carolina, South Dakota and Wisconsin. Also, the chart reflects the […]
What’s fueling the Great Annuity Boom?
{November 28th, 2022} by Nathan Place
Amid the bear market and persistent inflation, it’s been a tough year for 401(k)s and other defined-contribution retirement plans. For annuities, on the other hand, business is booming. In the summer of 2022, annuities — insurance products that provide a pension-like income in retirement — continued a historic winning streak Click HERE to read the […]
FAs Weigh In: How Can Advisors Refresh Retirement Seminars?
{November 28th, 2022} by Emily Dattilo
FA-IQ reached out to advisors to ask: How can advisors think about retirement seminars differently, in an actionable way? Jerry Davidse is the chief executive officer of Presilium Private Wealth, based in Radnor, Pennsylvania. He has been in the financial services industry 21 years, and manages $300 million in client assets. We are creating a variety of short, […]
Withdrawals Surge at MassMutual as Policyholders Contend with Inflation
{November 28th, 2022} by Aaron Smith
“That information would seem to suggest that consumers are not cashing out their policies, in order to take advantage of improved interest rates on new policies,” said Sheryl Moore, chief executive officer of Moore Market Intelligence and the publisher of Wink’s Sales & Market Report. She said this activity could apply to cash value life insurance policies like universal […]
Consumers initiating life insurance purchases at record rate, study finds
{November 28th, 2022} by Doug Bailey
The old aphorism that life insurance is sold and not bought has been turned on its head partly as a result of pandemic-influenced buying habits and partly because of the technological ease with which policies can now be purchased. This is according to a new J.D.Power study of the life insurance business that found customers […]
Best’s Market Segment Report: AM Best Maintains Stable Outlook on U.S. Life/Annuity Industry
{November 28th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best is maintaining a stable market segment outlook on the U.S. life/annuity insurance industry for 2023, citing factors that include favorable earnings, strong liquidity profiles and strong levels of risk-adjusted capitalization among carriers. In its new Best’s Market Segment Report, “Market Segment Outlook: U.S. Life/Annuity,” AM Best states that macroeconomic challenges such as inflation […]
Should the DOL Limit Annuity Sales Commissions?
{November 28th, 2022} by Robert Bloink and William H. Byrnes
The Department of Labor (DOL) fiduciary standard that applies to financial advisors who offer investment advice and sell financial products to their clients has been changed multiple times in recent years under various administrations. Under the Biden administration, recent proposals would focus on commissions that are received by financial advisors who sell annuities to their clients. Some of those […]
Some Clients Said ‘No Thanks’ to Traditional Variable Annuities in Q3
{November 28th, 2022} by Allison Bell
Stock market volatility hurt sales of traditional variable annuities in the third quarter but helped sales of non-variable annuities, according to new annuity issuer sales survey data from Wink. Sheryl Moore, the CEO of Wink, said rising interest rates made multi-year guaranteed annuities, or MYGA contracts, especially popular. Click HERE to read the full story […]
Life-Insurance Payouts Hit Record $100 Billion in 2021
{November 28th, 2022} by Leslie Scism
U.S. life insurers paid a record $100 billion in 2021 in death benefits, fueled by another year of Covid-19 deaths, an industry trade group said. Payouts rose 11% in 2021 to $100.19 billion, most likely due to the pandemic, according to the American Council of Life Insurers. The increase was on the heels of a 15% […]
What to Know About RMDs and Retirement Planning
{November 28th, 2022} by Glenn Ruffenach
They are, as a rule, among the more unexciting words in the English language: required minimum distributions. Today, though, RMDs—the annual withdrawals that many people, starting in their early 70s, must take from their nest eggs—are generating a surprising amount of noise and anxiety among retirees and financial advisers. Click HERE to read the full […]
Short-Term Investments to Protect Against Inflation and Market Volatility
{November 28th, 2022} by Bradley Rosen
Concerns about rising inflation, interest rates and global geopolitical uncertainty might have you feeling uneasy about your money. Are your retirement savings protected in the event of a stock market crash or prolonged economic downturn? Believe it or not, there are some lesser-known short-term investments that can increase reward and decrease risk to safely grow […]
Lawsuit Reveals the Big Money, Competitive World of Life Insurance Agents
{November 28th, 2022} by Arthur D. Postal
A fired New York Life agent who lost an arbitration case says he shouldn’t have to pay the insurer’s legal fees and expenses. Dustin Aiguier, a former agent of the year at New York Life, wants the September 6 award by the American Arbitration Association to be thrown out, according to a lawsuit filed last […]
Societal Headwinds Are Undermining Women’s Retirement Security
{November 28th, 2022} by Transamerica Center for Retirement Studies
LOS ANGELES, Nov. 17, 2022 /PRNewswire/ — More than four in 10 working women (41 percent) expect to retire at age 70 or older or do not plan to retire, according to Emerging from the COVID-19 Pandemic: Women’s Health, Money, and Retirement Preparations, a study released today by nonprofit Transamerica Center for Retirement Studies® (TCRS) in collaboration with Transamerica […]
Our best wishes for a Happy Thanksgiving
{November 23rd, 2022} by Sheryl J. Moore and Wink's Intel Pros
Our thoughts turn to you with warm appreciation at this time of Thanksgiving. The Wink offices will be closed on Thursday and Friday for an extended holiday celebration with our family and friends. Our best wishes for a Happy Thanksgiving! -The Wink, Inc family
THIRD QUARTER 2022 ANNUITY SALES
{November 22nd, 2022} by Sheryl J. Moore
Deferred Annuity Sales Total 3Q2022 deferred annuity sales were $72,438 million, compared with sales of $59,889 million for the third quarter of 2021. Third quarter deferred annuity sales were down less than 1% when compared to the previous quarter and up nearly 21% when compared to the same period last year. Deferred annuities include sales […]
Wink, Inc. Releases 3rd Quarter, 2022 Deferred Annuity Sales Results
{November 22nd, 2022} by Wink's Press Release
–– FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE MULTI-YEAR GUARANTEED AND INDEXED ANNUITY SALES SOAR TO SET RECORDS Wink, Inc. Releases 3rd Quarter, 2022 Deferred Annuity Sales Results Des Moines, Iowa. November 22, 2022– Wink’s Sales & Market Report, the insurance industry’s #1 resource for annuity sales data since 1997 released its 101st […]
AM Best Places Credit Ratings of Delaware Life Insurance Company of New York Under Review With Negative Implications
{November 22nd, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Delaware Life Insurance Company of New York (DLNY) (New York, NY). DLNY is being placed under review with negative implications following its announced sale to Nassau Financial Group, […]
AM Best Comments on Credit Ratings of Nassau Financial Group, L.P.’s Insurance Subsidiaries Following Announcement of Delaware Life Insurance Company of New York Acquisition
{November 22nd, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has commented that the Credit Ratings (ratings) of The Nassau Companies of New York, Inc. and its insurance subsidiaries, Nassau Life Insurance Company (New York, NY), Nassau Life and Annuity Company (Hartford, CT) and Nassau Life Insurance Company of Kansas (Overland Park, KS) (collectively referred to as the Nassau Insurance Group [Nassau]), […]
Fidelity National Financial Announces “When-Issued” Trading Of Subsidiary F&G Annuities & Life, Inc. In Connection With Planned Partial Spin-Off
{November 22nd, 2022} by Fidelity National Financial, Inc.; F&G Annuities & Life, Inc.
JACKSONVILLE, Fla., Nov. 21, 2022 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF) (“FNF” or the “Company”), a leading provider of title insurance and transaction services to the real estate and mortgage industries and a leading provider of insurance solutions serving retail annuity and life customers and institutional clients through FNF’s wholly-owned subsidiary, F&G Annuities & Life, Inc. […]
Nassau Financial Group to Acquire Delaware Life Insurance Company of New York
{November 22nd, 2022} by Nassau
Transaction adds scale as Nassau expands its New York insurance business Nassau Financial Group, L.P. (“Nassau”) today announced that it has entered into a definitive agreement for its subsidiary, Nassau Life Insurance Company (“NNY”), to acquire Delaware Life Insurance Company of New York (“DLNY”) from Delaware Life Insurance Company (“Delaware Life”). NNY and DLNY are […]
NC judge puts Greg Lindberg insurance companies into liquidation
{November 22nd, 2022} by John Hilton
A North Carolina Superior Court judge placed two financially impaired insurance companies once led by disgraced billionaire Greg Lindberg into liquidation Monday. The Wake County Superior Court order places Colorado Bankers Life Insurance Co. and Bankers Life Insurance Co. into liquidation. In issuing the order, Judge Graham Shirley granted a Nov. 1 request made […]
Assured Allies Launches NeverStop, Creating a New Era of Successful Aging for the Growing, Wellness-Motivated 55+ Market
{November 22nd, 2022} by Assured Allies
BOSTON and TEL AVIV, November 15, 2022 – Assured Allies, creators of the first successful aging platform through evidence-based interventions, today announced the launch of NeverStop, a science-backed wellness program designed to create the next generation of long-term care (LTC) insurance that delivers benefits to individuals, their families and insurance carriers. The innovative wellness program uses data and […]
12 Best & Worst Broker-Dealers: Q3 Earnings, 2022
{November 22nd, 2022} by Janet Levaux
This quarter, only three of the 12 broker-dealers tracked each quarter by ThinkAdvisor reported positive year-over year growth in their profits and earnings per share — down from four BDs in the second quarter of 2022. In the third quarter, the S&P 500 declined 5.3 versus a drop of 16.1% in the second quarter of 2022. […]
S&P Expects More Big Life Insurer ‘Assumption Unlocking’ Charges
{November 22nd, 2022} by Allison Bell
More life insurers could soon announce the kinds of big, “non-cash” charges that Lincoln Financial and Prudential Financial put in their earnings for the third quarter, an S&P Global Ratings analyst said today. Carmi Margalit, the life insurance sector lead at S&P Global, predicted that the charges will make earnings reports based on publicly traded […]
Time for the structured annuity?
{November 22nd, 2022} by Sheryl J. Moore
Variable Annuity sales are down nearly 16% from last quarter and down nearly 38% from this time last year. I wonder how many of the carriers that have yet to develop structured annuities are thinking about it now? -sjm
Sales Percentage Change Over: Last Quarter / This Quarter, Last Year
{November 22nd, 2022} by Sheryl J. Moore
THIRD QUARTER ANNUITY SALES Sales Percentage Change Over: Last Quarter / This Quarter, Last Year >All Deferred Annuities: $72.43 B -0.41% / 20.95% >>Non-Variable Deferred Annuities: $48.84 B 5.57% / 67.18% >>>Indexed Annuities: $20.97 B 6.98% / 20.97% >>>Fixed Annuities: $451.60 M -6.82% / 25.18% >>>Multi-Year Guaranteed Annuities: $27.41 B […]
Life Insurnace with living benefits and extended care protection
{November 22nd, 2022} by Kelly Augspurger
Sheryl J. Moore and Kelly Augspurger in this episode of Steadfast Care Planning podcast
I, along with the NCF, appreciate your help!
{November 22nd, 2022} by Sheryl J. Moore
This year, the NAILBA CHARITABLE FOUNDATION (NCF) was able to provide grants to a record 51 children’s charities, resulting in contributions that totaled $180,000 this year! If you need a tax break, there has never been a better time to make a contribution to NCF! I need to find at least three organizations that are willing to […]
5 Top Life and Annuity Q3 Strength Indicators
{November 22nd, 2022} by ThinkAdvisor
Sometimes, helpful economic conditions make most big, publicly traded life and annuity issuers move in sync. After those quarters, most or all issuers report higher net income on higher revenue. In the third quarter of this year, which ended Sept. 30, different strategies produced noticeably different results. Click HERE to read the full story and view […]
Prudential launches ‘Now What?’ campaign, defying industry norms using moments of hope instead of fear
{November 22nd, 2022} by Prudential Financial, Inc.
NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) is launching Now What? — a new advertising campaign with a unique twist that distinguishes the brand from competitors by encouraging consumers to use uplifting moments to secure their financial future. Now What? advances Prudential’s purpose to make lives better, particularly as pandemic recovery continues and economic uncertainty remains. Now […]
DPL partners with Corebridge Financial to bring advisory annuity solutions to the RIA community
{November 22nd, 2022} by DPL Financial Partners
LOUISVILLE, Ky.–(BUSINESS WIRE)–DPL Financial Partners, the leading insurance platform for registered investment advisors (RIAs), today announced the addition of Corebridge Financial to its carrier lineup with two commission-free Corebridge annuity products geared to fee-only advisors. Corebridge, formerly AIG Life & Retirement, is one of the largest providers of retirement solutions and insurance products in the […]
New York Life Declares Largest Dividend in Company History With $2.0 Billion Total Payout Expected In 2023
{November 22nd, 2022} by New York Life
NEW YORK–(BUSINESS WIRE)–New York Life, America’s largest1 mutual life insurer, today announced that the company has declared a record dividend payout of $2.0 billion expected to be paid to eligible participating policy owners in 2023. Declaring a dividend for the 169th consecutive year underscores the company’s commitment to financial strength, mutuality, and delivering ongoing value to policy owners. […]
Corebridge Financial Introduces Dimensional Index Designed Exclusively for The Power Series of Index Annuities
{November 22nd, 2022} by Corebridge Financial, Inc
HOUSTON–(BUSINESS WIRE)–Corebridge Financial today announced the introduction of the Dimensional US Foundations Index, an index created by Dimensional Fund Advisors for use exclusively in The Power Series of Index Annuities®, Corebridge’s family of fixed index annuities. Dimensional Fund Advisors, a leading global asset management firm, applies a scientific rigor to investment solutions by drawing upon […]
AM Best Affirms Credit Ratings of Securian Financial Group and Its Subsidiaries
{November 22nd, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” (Superior) of Minnesota Life Insurance Company and its subsidiary, Securian Life Insurance Company, together referred to as Securian Financial Insurance Group (Securian). AM Best also has affirmed the FSR of A (Excellent) […]
Life insurance sales continue to backslide from pandemic highs, study finds
{November 22nd, 2022} by John Hilton
DALLAS – Life insurance sales trends are cooling off from the COVID-19 pandemic sales bump. The question for the industry is how to stop the slide. “When you start looking at ’22 results, all have that gain that we saw in ’21 has been given back,” said David Levenson, president and CEO, LIMRA, LOMA and […]
The Case for Annuities in Today’s Market
{November 22nd, 2022} by Robert Heubscher
Financial Professionals and their clients need to manage pressures they have not seen for 20 years: market volatility, inflation, rising interest rates and potentially higher taxes. With fixed income potentially not holding up as a low-risk part of the portfolio, it may be time to look at other strategies to help clients protect their portfolios. […]
Introducing Protected Lifetime Income Benefits (PLIBs): Part 1
{November 22nd, 2022} by David Blanchett
Despite more than a half century of research detailing the potential value of guaranteed lifetime income products for retirees, sales of annuities, especially traditional products such as single premium immediate annuities (SPIAs), remain low. There are theories to explain why this “annuity puzzle” persists, but one notable barrier to annuitization is the irrevocable transfer of […]
With New Hire, Pacific Life Sends ‘Strong Signal’ About Tech Strategy
{November 22nd, 2022} by Aaron Smith
Sheryl Moore, CEO of Moore Market Intelligence and publisher of Wink’s Sales & Market Report, said Pacific Life offers multi-year guaranteed fixed-rate annuities with rates that she described as “pretty competitive, relative to their peers.” She said she expects Pacific Life will eventually sell structured annuities, and it remains one of the top three sellers for indexed universal […]
Athene Just Rocketed Into the Top Three for U.S. Annuity Sales
{November 22nd, 2022} by Cyril Tuohy
“Athene has been aggressive in their pursuit of competitive multiyear guaranteed annuity rates during the quarter,” Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report, said in an email. Click HERE to read the full story via Life Annuity Specialist
Symetra Debuts Indexed Life Insurance That Adjusts to Volatility
{November 22nd, 2022} by Warren S. Hersch
Symetra Life Insurance, an arm of Symetra Financial, has unveiled new indexed universal life insurance. Click HERE to read the full story via Life Annuity Specialist ………………………………………………………….. National Life was the top seller during the April-June period, garnering a 13.9% market share, according to market research firm Wink. Transamerica, Pacific Life, Nationwide and Sammons Financial rounded out the top five carriers.
DOL needs to get moving on its fiduciary rule, analyst says
{November 22nd, 2022} by John Hilton
The Department of Labor better not wait too long to publish its redefinition of “fiduciary,” a leading expert on retirement plan rulemaking said today. The DOL’s spring 2021 Regulatory Agenda confirmed that it will rewrite the definition of fiduciary. Ever since, the Employee Benefits Security Administration has likely been working on the rule update. Click […]
Magic Johnson’s Firm Powers New Long-Term Care Effort
{November 22nd, 2022} by Allison Bell
Earvin “Magic” Johnson — an NBA Hall of Fame basketball legend — is helping an aging tech firm enter the long-term care benefits market. EquiTrust Life Insurance Company, a life insurer controlled by Johnson’s Magic Johnson Enterprises, teamed up with Assured Allies this week to introduce the Bridge annuity contract. Click HERE to read the […]
Life Insurers Should Get Used to an Inflationary World: Fitch Economist
{November 22nd, 2022} by Allison Bell
Brian Coulton has looked at the economic weather for Fitch Ratings insurance analysts, and he sees interest rates staying high throughout 2023. The Chicago-based firm’s chief economist gave his forecast today, at a Fitch insurance conference in New York. Click HERE to read the full story via ThinkAdvisor
Commonwealth Now Aiming for $1T in Assets
{November 22nd, 2022} by Jeff Berman
Commonwealth Financial Network has set a strategic goal of reaching $1 trillion in assets under management, the firm announced Thursday, noting that was one of three new major business growth initiatives disclosed to advisors at its annual National Conference earlier this month. The target is an aggressive one given that the RIA/broker-dealer said its more […]
Fidelity National Financial to Acquire TitlePoint from Black Knight
{November 22nd, 2022} by Fidelity National Financial, Inc.
JACKSONVILLE, Fla., Nov. 18, 2022 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF) (“FNF”), a leading provider of title insurance and transaction services to the real estate and mortgage industries and a leading provider of insurance solutions serving retail annuity and life customers and institutional clients through FNF’s wholly-owned subsidiary, F&G Annuities & Life, Inc. (“F&G”), today announced […]
Fidelity National Financial Announces F&G Annuities & Life, Inc. Form 10 Registration Statement Declared Effective
{November 22nd, 2022} by Fidelity National Financial, Inc.; F&G Annuities & Life, Inc.
JACKSONVILLE, Fla., Nov. 18, 2022 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF) (“FNF” or the “Company”), a leading provider of title insurance and transaction services to the real estate and mortgage industries and a leading provider of insurance solutions serving retail annuity and life customers and institutional clients through FNF’s wholly-owned subsidiary, F&G Annuities & Life, Inc. […]
The Penn Mutual Life Insurance Company Announces Record Dividend Payout
{November 22nd, 2022} by The Penn Mutual Life Insurance Company
HORSHAM, Pa., Nov. 21, 2022 /PRNewswire/ — The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, is pleased to announce that the company has maintained its dividend scale for 2023 and the Board of Trustees has approved a record $163 million payout to eligible policyholders in 2023. Dividends are a key measure of a mutual company’s […]
Annuity sales stay torrid in Q3 with help from banks
{November 22nd, 2022} by Gregg Greenberg
The scorching hot demand for annuities didn’t cool off during the third quarter, and banks played a key role. Click HERE to read the full story via InvestmentNews
8 New Stats on How Retirement Savers Have Fared in Rocky Markets
{November 21st, 2022} by John Manganaro
New data published Thursday by Fidelity Investments shows ongoing market swings and concerns about inflation continue to cause financial stress among retirement savers. According to Fidelity, the percentage of individuals with negative feelings about their finances (32%) is now greater than those who have positive feelings (30%). This is a stark contrast to just a year ago, when the […]
U.S. Annuity Sales Could Reach All-Time High: Cerulli
{November 21st, 2022} by Michael S. Fischer
Annuity sales have been on a tear this year, largely because of the Federal Reserve interest rate hikes, which have allowed insurers to raise crediting rates on their fixed and indexed annuities, according to a new report from Cerulli Associates. The rate environment, coupled with difficult market and economic conditions, has led many advisors and […]
Indexed Universal Life Insurance (IUL) Adapts to Inflation and High Interest Rates
{November 21st, 2022} by Shoreview LLC
Wink’s Note: I get annoyed when salespeople take out press releases on indexed annuities and indexed life, promoting them in this manner. It leads one to believe that these products are investments; which they are not. They are insurance products. Plus something else about this rubs me the wrong way…I just can’t put my finger […]
TAMPs and fee-based annuities headline first day of RIA Summit 2022
{November 21st, 2022} by Ryan W. Neal
Outsourced investment management and fee-based annuities were the topics dominating the first day of InvestmentNews’ RIA Summit 2022, which kicked off Monday in Boston. Click HERE to read the full story via InvestmentNews
Can ‘pure-play’ wealth manager Avantax compete with the giants?
{November 21st, 2022} by Tobias Salinger
Blucora’s move to spin off its online tax software arm in order to become a “pure-play” wealth management firm sets it on a collision course with the giants dominating the industry. The Dallas-based company will adopt the name of its wealth management arm, Avantax, after the close of its deal to sell TaxAct to a […]
NAIFA’S O’GARA TELLS THE SBA IT’S IMPORTANT FOR ADVISORS TO REMAIN INDEPENDENT CONTRACTORS
{November 21st, 2022} by NAIFA
Josh O’Gara, CLU, ChFC, CFP, loyal member since 2011, spoke on behalf of NAIFA during a virtual roundtable discussion on Department of Labor’s proposed rule on Independent Contractor Classification Under the Fair Labor Standards Act. The event was held by the U.S. Small Business Administration’s Office of Advocacy to gather input from people and businesses […]
Life Insurance Purchased on Perceived Value, Not Cost, J.D. Power Finds
{November 20th, 2022} by J. D. Power
TROY, Mich.–(BUSINESS WIRE)–That adage about a life insurance policy being sold and not bought needs to be updated for the post-pandemic era. In fact, customers are initiating the purchase of life insurance, but the key criteria for choosing which one to buy often involves much more than cost. According to the J.D. Power 2022 U.S. […]
This WILL come back upon us.
{November 15th, 2022} by Sheryl J. Moore
I’m just going to throw this out there. Indexed annuity illustrated rates are out of control. These products are intended to “beat the bank,” not consistently return upward of 17%. Mark my words- this WILL come back upon us. Join in the lively conversation over on LinkedIn, click HERE.
McQueen Kalligan Insurance Services Joins AmeriLife & AIMCOR Group As First Affiliate Under New Joint Venture
{November 15th, 2022} by AIMCOR Consolidated LLC (“ICON”)
PAOLI, Penn. and CLEARWATER, Fla. | November 10, 2022 09:00 AM Eastern Standard Time AIMCOR Consolidated LLC (“ICON”), a joint venture between AIMCOR Group, LLC (“AIMCOR”) and AmeriLife Group, LLC (“AmeriLife”), announced today that it has acquired brokerage general agency McQueen Kalligan Insurance Services, Inc. Per the agreement, terms of the deal were not disclosed. “We’re very excited to officially join ICON […]
Here’s why annuity sales are on the rise
{November 15th, 2022} by Sheryl J. Moore
AVERAGE FIXED ANNUITY RATES 2011: 2.77% 2012: 1.98% 2013: 2.49% 2014: 2.71% 2015: 2.68% 2016: 2.01% 2017: 2.06% 2018: 2.95% 2019: 2.72% 2020: 1.81% 2021: 1.71% Today: 4.25%
They could create their own “Defined Benefit plan.”
{November 15th, 2022} by Sheryl J. Moore
Five reasons Americans are retiring later in life- When I was reading the 401(k) section, I just kept thinking to myself, “We need to establish some distribution, where when a worker separates from service at retirement, an advisor comes in to speak with them about annuities.” That way, they could create their own “Defined Benefit […]
Fixed Annuities on a Tear in 2022
{November 15th, 2022} by Brian Anderson
Fixed annuities are having a moment, and they can thank rising interest rates for it. In a LinkedIn post today, Sheryl Moore, founder, creator and CEO of Wink, Inc., and Moore Market Intelligence, had a compelling chart culled from her WinkIntel’s AnnuitySpecs tool that offered a simple explanation. From her post: Here’s why annuity sales are on the […]
‘Quick fix’ concept for IUL illustrations advanced, with some dissent
{November 15th, 2022} by John Hilton
A state insurance regulator subgroup came up with a “quick fix” Wednesday to address faulty illustration problems within the Actuarial Guideline 49-A. Sort of. Members of the Indexed Universal Life Illustration subgroup ended a conference call with a nonbinding “straw poll” vote that favored a fix put forth by Securian Financial and Penn Mutual Life […]
Annuity Issuer F&G Set to Go Public Dec. 1
{November 15th, 2022} by Allison Bell
A midsize annuity issuer — F&G Annuities & Life — could get its own listing on the New York Stock exchange Dec. 1. Fidelity National Financial, the publicly traded, Jacksonville, Florida-based title insurer that now owns F&G, announced Thursday that it will give F&G a separate identity by distributing 15% of F&G’s stock to investors […]
Watch me jump out of my seat when Ramsey suggests that there is NEVER ANY reason to purchase a fixed annuity.
{November 15th, 2022} by Sheryl J. Moore
I’ve never really been a fan of Dave Ramsey. While I am not an avid listener of his show, the little experience that I have had with him is that he is in a position of power, and holding himself out to be an expert on things he is not. He also uses a lot […]
North American Launches Income Pay Pro Fixed Index Annuity
{November 15th, 2022} by North American Company for Life and Health Insurance
WEST DES MOINES, Iowa, Nov. 8, 2022 /PRNewswire/ — With many people concerned about planning for income in retirement, North American Company for Life and Health Insurance® has introduced a new fixed index annuity (FIA) designed to deliver a guaranteed lifetime income stream. The Income Pay ProSM is a modified single premium FIA with an embedded guaranteed lifetime withdrawal benefit […]
The Highest Rate is King
{November 15th, 2022} by Sheryl J. Moore
Over the past few years, the annuity industry has begun seeing a new trend that has seismically shifted the dynamic of annuity sales. Startups are getting into the indexed annuity market by first developing a multi-year guaranteed annuity (MYGA) with an aggressive credited rate, gaining distribution, and then transferring their focus over to indexed annuities. […]
Symetra Introduces Protector IUL
{November 15th, 2022} by Symetra
BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra Life Insurance Company today announced the introduction of a new version of its protection-focused indexed universal life insurance (IUL) product — Symetra Protector IUL. The flexible-premium adjustable life insurance policy with a lapse protection benefit and seven index-linked interest options provides guaranteed death benefit protection and the added potential for policy cash value […]
Prudential Financial Launches FlexGuard Life, a Next-Generation Life Insurance Product That Goes Beyond Death Benefits
{November 15th, 2022} by Prudential
NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc., has launched Prudential FlexGuard® Life, an innovative Indexed Variable Universal Life product that offers a flexible combination of protection, growth, and access to meet consumers’ changing life insurance needs. Inspired by the groundbreaking success of Prudential’s signature FlexGuard Indexed Variable Annuity products, which have reached over $10 billion in total sales, […]
AEL Board Approves Additional $400 Million Share Buyback Authorization With Continued Execution Of AEL 2.0 Strategy
{November 15th, 2022} by American Equity Investment Life Insurance Company
WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL) announced today that its Board of Directors has put in place an additional $400 million common stock buyback authorization consistent with the continued execution of AEL 2.0 strategy first outlined in October 2020. In addition to the remaining share repurchase authorization, this brings […]
Allianz Lifetime Income+ Annuity now available in plans nationwide
{November 15th, 2022} by Allianz Life
MINNEAPOLIS – Nov. 1, 2022 – Allianz Life Insurance Company of North America (Allianz Life) announced today that its latest guaranteed income product, Allianz Lifetime Income+ Annuity with the Lifetime Income Benefit, is now available in defined contribution plans nationwide. Lifetime Income+ puts Allianz Life’s depth of retirement income experience to work in a solution tailored […]
American Equity FIA sales drop; reinsurer investor drops out
{November 15th, 2022} by Steven A. Morelli
American Equity Investment’s CEO said the company chose “pricing discipline” rather than chase market share in explaining the carrier’s drop in fixed index annuity sales in what was a hot quarter for the products. “We chose pricing discipline over chasing the market as interest rates fluctuated,” said Anant Bhalla during the company’s third quarter earnings […]
Jackson National overcomes annuity sales decline in strong third quarter
{November 15th, 2022} by John Hilton
Jackson National overcame declining annuity sales to finish the third quarter with strong revenue growth that won over Wall Street. Jackson reported net income of $1.5 billion, compared to net income of $206 million for the third quarter 2021. The net income gains “primarily reflects improved net hedge results, mainly due to a benefit from […]
Now is a ‘perfect time’ for preretirees to consider FIAs, expert says
{November 15th, 2022} by Susan Rupe
The current market environment “could not be a more perfect time” for those who are in the “retirement red zone” to add a fixed indexed annuity to their portfolio. That was the word from Igor Zamkovsky, head of indexed annuities and insurance with Blackrock’s Retirement Insurance Group. Zamkovsky made the case for adding FIAs in […]
Advocates Take Aim at Advisor Annuity Skepticism
{November 15th, 2022} by John Manganaro
Back in June 2018, a group of more than two dozen financial services companies came together to form the Alliance for Lifetime Income, with the objective of educating Americans about the importance of protected lifetime income solutions. Since that time, the group has generated substantial online content, tools, thought leadership and even new terminology to […]
Brighthouse May Use More Capital to Fuel Annuity Sales Growth
{November 15th, 2022} by Allison Bell
Brighthouse Financial might focus more on using life insurance company cash to fuel annuity sales growth for the rest of the year and less on buying back shares of common stock from shareholders. Company executives talked about what they see as new opportunities to use cash during a conference call they held to go over […]
Beware of Backtested RILA Performance
{November 15th, 2022} by David Blanchett
Registered Index-Linked Annuities (RILAs) — also commonly referred to as index variable annuities, structured annuities, or buffered annuities — are an increasingly popular product. RILAs can be viewed as an evolution of fixed indexed annuities (FIAs), to some extent. FIAs tend to be relatively one-dimensional, where the annuitant can’t lose money (i.e., the initial premium) […]
The Top 15 RIA Firms in America: Forbes, 2022
{November 15th, 2022} by Michael S. Fischer
RIA firms are one of the fastest-growing segments in the wealth management industry because they are committed to working in their clients’ best interest. This is especially important in fraught periods like the current one when indexes are sagging, inflation stands at 8%, with few signs of receding, and a recession looms on the horizon. […]
Brighthouse ratchets up annuity sales amid tough economic quarter
{November 15th, 2022} by John Hilton
Brighthouse Financial enjoyed a very successful third quarter saleswise – a bright spot in an otherwise disappointing quarter – with annuity sales up 58% quarter-over-quarter and 50% sequentially, driven by fixed-deferred annuities. Those results were enough to prompt a skeptical Evercore analyst to question whether the insurer offered up “a blue-light special” to move product. […]
Corebridge to Wall Street: We’re Built for Volatility
{November 15th, 2022} by Allison Bell
Kevin Hogan, the CEO of Corebridge Financial — AIG’s newly separated life and annuity business — scoffed Wednesday that the kind of market volatility occurring so far this year would do much to Corebridge. The recent rapid increase in interest rates has hurt some kinds of investment holdings and other values and sales at Corebridge, […]
Variable Annuities: What’s In and What’s Out
{November 15th, 2022} by Jim Wagner
Variable annuity issuers are always pushing to find better ways to help more people achieve a sense of protection and security. Because there are many retirement solutions available, it’s important to be open, proactively learn, decipher trends and solve problems to meet customers’ specific needs when planning for their desired security and financial freedom. Click […]
SEC Fines S&P Global Ratings $2.5M Over Conflicts of Interest
{November 15th, 2022} by Melanie Waddell
The Securities and Exchange Commission late Monday charged S&P Global Ratings with violating conflict of interest rules designed to prevent sales and marketing considerations from influencing credit ratings. S&P agreed to pay a $2.5 million penalty to settle the charges. Click HERE to read the full story via ThinkAdvisor
Annuity Supply Is Holding Up Well: Eric Thomes
{November 15th, 2022} by Allison Bell
Eric Thomes is one of the people in charge of helping Americans prepare for the future. Thomes is the chief distribution officer at Allianz Life Insurance Company of North America and CEO of its Allianz Life Financial Services affiliate. He leads sales and distribution for all kinds of Allianz Life products, through all kinds of […]
3 guaranteed-income strategies for an uncertain economy
{November 15th, 2022} by Gregg Greenberg
All due respect to founding father Benjamin Franklin and his Almanack-writing alter ego “Poor Richard,” but there are some certainties in this world other than “death and taxes.” Click HERE to read the full story via InvestmentNews
Jamie Hopkins: Why Debt Is ‘Powerful,’ Annuities Are ‘Underutilized’ and the 4% Rule Is Just a ‘Finding’
{November 15th, 2022} by Jane Wollman Rusoff
Here’s a crisp and clear message to financial advisors from Jamie Hopkins, managing partner of wealth solutions at Carson Group: “If you don’t really care about what you’re doing, you’re in the wrong business,” he tells ThinkAdvisor in an interview. “Define your ‘Why.’ Your ‘Why’ should make you cry.” In his newest book, “Find Your […]
The Milner Agency Joins Integrity to Utilize End-to-End Insurtech Resources and Serve More Americans
{November 15th, 2022} by Integrity Marketing Group
DALLAS, Nov. 14, 2022 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has entered into an agreement to acquire The Milner Agency, a brokerage general agency (BGA) located in Athens, Georgia. As part of the acquisition, The Milner Agency’s Chairman […]
National Western Life Group, Inc. Announces 2022 Third Quarter Earnings
{November 15th, 2022} by National Western Life Group, Inc.
AUSTIN, Texas, Nov. 9, 2022 /PRNewswire/ — Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today third quarter 2022 consolidated net earnings of $21.8 million, or $6.15 per diluted Class A common share, compared with consolidated net earnings of $39.8 million, or $11.27 per diluted Class A common share, for the third […]
Athene BCA 2.0 Honored for Best FIA at 2022 SRP Americas Conference
{November 15th, 2022} by Annexus
Industry-leading Indices in Athene® BCA® 2.0 Result in Best FIA Award SCOTTSDALE, Ariz., Nov. 14, 2022 /PRNewswire/ — Annexus, a leading retirement product design company, announced that Athene BCA 2.0, one of its flagship fixed indexed annuities, won the “FIA of the Year” award at the 2022 SRP Americas Conference in Chicago, September 15. The Athene BCA 2.0 fixed indexed annuity (FIA) […]
Midwest Holding Inc. Reports Third Quarter 2022 Results
{November 15th, 2022} by Midwest Holding Inc
LINCOLN, Neb., Nov.14, 2022 /PRNewswire/ — Midwest Holding Inc. (“Midwest”) (NASDAQ: MDWT), today announced financial results for the third quarter of 2022. Third Quarter 2022 Highlights: GAAP net income was $7.4 million compared to a $(3.1) million GAAP net loss incurred in the third quarter of 2021. GAAP earnings were $1.96 per share (diluted) versus the $(0.82) per-share loss in Q3 2021. GAAP total revenue was $19.0 […]
Simplicity Group Expands Proprietary IUL Sales Platform Offering in Partnership with Ensight™
{November 15th, 2022} by Simplicity Group
New Interactive Sales Capabilities Utilizing Tax-Free Retirement Concepts Shortens the Sales Cycle and Simplifies IUL Planning Discussions SUMMIT, N.J., Nov. 8, 2022 /PRNewswire/ — The Simplicity Group (“Simplicity”) today announced the launch of an expanded Indexed Universal Life (“IUL”) digital sales platform, developed in partnership with Ensight™. Simplicity’s enhanced planning platform represents a new standard for digital […]
Ameriprise Financial Introduces Certified Military Financial Advisor Certification™ to Help More Military Members and Their Families Reach Financial Goals
{November 15th, 2022} by Ameriprise Financial, Inc.
MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE:AMP) today announced that it has partnered with Dalton Education to create a first-to-market Certified Military Financial Advisor™(CMFA) certification. The certification is earned through an intensive mix of training and learning development modules typically completed over the course of 40-50 hours that provides a deep understanding of the unique life circumstances […]
Americans Adjust Debt Management and Investment Strategies as Inflation Continues to Pose Challenges
{November 15th, 2022} by New York Life
NEW YORK–(BUSINESS WIRE)–As inflation continues to pose challenges for American adults’ financial strategies, New York Life’s latest Wealth Watch survey has found that people are coping by adjusting debt management and investment strategies, although the financial guidance informing these strategy adjustments varies by generational cohort. The latest survey revealed that more than half of adults […]
Symetra and Nassau Re/Imagine Launch New ‘Working Forward’ Podcast Series
{November 15th, 2022} by Symetra, Nassau Re/Imagine
BELLEVUE, Wash., & HARTFORD, Conn.–(BUSINESS WIRE)–Symetra Life Insurance Company and insurtech incubator Nassau Re/Imagine are collaborating on a new podcast series that explores the leading trends and innovations happening in the workplace benefits space. Launching today, the “Working Forward” series examines the future of work, with topics ranging from the accelerating emergence of data and […]
AM Best Affirms Credit Ratings of Meiji Yasuda Life Insurance Company’s U.S. Subsidiaries: Standard Insurance Group and Pacific Guardian Life Insurance Company, Limited
{November 15th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Standard Insurance Company (Portland, OR) and its affiliate, The Standard Life Insurance Company of New York (White Plains, NY), together referred to as Standard Insurance Group (The Standard). Additionally, AM […]
AM Best Upgrades Credit Ratings of Standard Life and Casualty Insurance Company; Affirms Most Credit Ratings of Members of Manhattan Insurance Group
{November 15th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has upgraded the Financial Strength Rating (FSR) to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” (Good) from “bbb-” (Good) of Standard Life and Casualty Insurance Company (Standard Life and Casualty) (Salt Lake City, UT). In addition, AM Best has revised the outlook of these […]
Jackson Announces Third Quarter 2022 Results
{November 15th, 2022} by Jackson Financial Inc.
LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc. (NYSE: JXN) (Jackson®) today announced financial results for the three months ended September 30, 2022. Key Highlights Net income of $1,479 million, or $16.83 per diluted share, including the impact of non-economic hedging results under GAAP accounting Adjusted operating earnings1 of $373 million, or $4.24 per diluted share Total annuity account […]
AM Best Downgrades Credit Ratings of Lincoln National Corporation and its Subsidiaries
{November 15th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has downgraded the Financial Strength Rating (FSR) to A (Excellent) from A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a+” (Excellent) from “aa-” (Superior) of The Lincoln National Life Insurance Company and its wholly owned subsidiary, Lincoln Life & Annuity Company of New York (Syracuse, NY). These companies are […]
Corebridge Financial Announces Third Quarter 2022 Results
{November 14th, 2022} by Corebridge
HOUSTON–(BUSINESS WIRE)–Corebridge Financial, Inc. (NYSE: CRBG) today reported financial results for the third quarter ended September 30, 2022. The results are the first quarterly earnings reported by the Company following the completion of its initial public offering during the third quarter of 2022 in which American International Group, Inc. (“AIG”) sold approximately 12.4% of Corebridge’s […]
American Equity Announces Strategic Partnership With 26North
{November 14th, 2022} by American Equity
WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (American Equity) (NYSE: AEL), a leading issuer of fixed index annuities (FIAs), announced that it is entering into a long-term partnership with 26North Partners LP (26North), a multi-asset platform founded and led by Josh Harris, in which American Equity has made a strategic investment. Anant […]
Here Are the Finalists for Excell Women in Wealth Management Awards
{November 14th, 2022} by Jeff Berman
Carson Group, Fidelity Institutional, Mariner Wealth Advisors and Financial Independence Group have announced the finalists for the first Excell Represent Women in Wealth Management Awards. The awards celebrate the women (and men) who make a difference in financial advice, the representation of women in the field, and in their communities. Click HERE to read the full story via […]
Wink’s Demo on Comparing Products and Riders
{November 8th, 2022} by Wink's Intel Pros
You can compare products or riders, and put them in the order you want. #ControlFreaksLoveUs Have you used the Side-by-Side product comparisons menu on our analysis tools? Click HERE to view the AnnuitySpecs Side by Sides Demo Click HERE to view the LifeSpecs Side by Sides Demo Jamie Johnson, Manager of Awesomeness at Wink, […]
AmeriLife To Acquire TruChoice Financial Group from Allianz Life Insurance Company of North America
{November 8th, 2022} by AmeriLife
CLEARWATER, Fla. and MINNEAPOLIS | November 07, 2022 03:30 PM Eastern Standard Time AmeriLife Group, LLC (“AmeriLife”), a national leader in developing, marketing, and distributing life and health insurance, annuities and retirement planning solutions, anAdd Newnounced today that it has entered into an agreement to acquire TruChoice Financial Group (“TruChoice”) and its affiliate Inforce Solutions, LLC (“Inforce”), from Allianz Life Insurance […]
Penn Mutual introduces new Survivorship Indexed Universal Life
{November 8th, 2022} by The Penn Mutual LIfe Insurance Company
HORSHAM, Pa., Nov. 2, 2022 /PRNewswire/ — The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, announces the introduction of Survivorship Indexed Universal Life (SIUL), a permanent life insurance product for two people in one policy. The product provides protection and cash value accumulation potential backed by more than 175 years of financial strength. […]
Pacific Life’s Collaboration with Bank of America Introduces a New Lock‐In Feature
{November 8th, 2022} by Pacific Life
NEWPORT BEACH, Calif. — Nov. 1, 2022 — To help address market volatility, Pacific Life recently announced that it has enhanced its Pacific Index Dimensions® fixed indexed annuity. The product now includes five new crediting options linked to the BofA Iris U.S. Sectors Index, two of which can be used with the Index Lock‐In Feature that gives clients […]
Ohio National Announces Structure and Leadership Changes
{November 8th, 2022} by Ohio National Financial Services
Ohio National Financial Services, Inc. to be renamed Constellation Insurance, Inc. Anurag Chandra to be appointed as President and CEO, replacing Barbara Turner who is stepping down following the successful transaction and integration with Constellation Ohio National Financial Services, Inc. (“Ohio National” or “the Company”) today announced that the Company is implementing certain structural […]
AmeriLife acquiring TruChoice to create ‘a force to be reckoned with’
{November 8th, 2022} by John Hilton
Sheryl Moore is founder and CEO of Moore Market Intelligence. The TruChoice acquisition is a major boost for AmeriLife, she said this morning. “Two of the biggest marketing organizations in life insurance just formed a force to be reckoned with,” she said. “It will be interesting to see how many FMOs are left standing when […]
Talcott Financial Group Closes $7 Billion Block Reinsurance Transaction with Guardian
{November 8th, 2022} by Talcott Financial Group
HAMILTON, Bermuda, Nov. 2, 2022 /PRNewswire/ — Talcott Financial Group (“Talcott”), an international life insurance group and the insurance industry’s trusted partner for comprehensive risk solutions, has completed its previously announced reinsurance transaction between its subsidiary, Talcott Resolution Life Insurance Company (“Talcott Resolution”), and The Guardian Insurance & Annuity Company, Inc. (“GIAC”), a wholly owned subsidiary of The Guardian Life […]
Finseca continues collaboration with NAIC’s efforts to increase diversity in marketing, distribution, and access to life insurance products to better promote Financial Security for All
{November 8th, 2022} by Finseca
WASHINGTON, Nov. 2, 2022 /PRNewswire/ — Today, Finseca CEO, Marc Cadin and four members of the financial security profession led a panel discussion with the NAIC Special (EX) Committee about their efforts to increase diversity and address unnecessary burdens placed on the professionals dedicated to providing financial security for millions of Americans. The panel discussion added to the existing […]
Graying Brokerage Industry Prompts Need for Succession Plans: FINRA
{November 8th, 2022} by Melanie Waddell
The Financial Industry Regulatory Authority is encouraging registered representatives to have a succession plan in place to plan for unexpected life events and as more and more brokers are nearing retirement. Brokerage industry demographics indicate that an increasing number of reps are at or approaching traditional retirement age, FINRA states in a just-released Regulatory Notice. […]
Less than half of those surveyed have worked with a financial professional- WHAT AN OPPORTUNITY!
{November 8th, 2022} by Sheryl J. Moore
Holy buckets! Did you know that only 16% of Americans have an LTC plan in place? While “most consumers are unsure of their likelihood of ever needing LTC…it is estimated that almost 70% of individuals over the age of 65 will require a form of long-term care services at some point in their lives.” What a disconnect! […]
No one is fact-checking this stuff, and it comes off as being credible, simply because of the source.
{November 8th, 2022} by Sheryl J. Moore
This is the stuff that makes us look bad, folks. Seriously. If you are going to write like this, keep it to yourself. Click HERE to read Forbes: Why Indexed Universal Life Insurance Might Be New 401(k) It is ludicrous to suggest that an IUL can typically earn 7%, much less to suggest that there […]
Athene Helped Stabilize U.K. Government Bond Market: Apollo Executives
{November 8th, 2022} by Allison Bell
Capital from Athene Holding helped Apollo Global Management stabilize the United Kingdom’s government bond market in October, company executives told securities analysts Wednesday. Scott Kleinman, the New York-based investment company’s co-president, said Apollo spent $1.1 billion to buy about one-third of the assets pension funds and other institutional investors sold last month to come up […]
Global Atlantic Annuity Holders Are Keeping Their Contracts: KKR
{November 8th, 2022} by Allison Bell
A top KKR & Co. executive said the company is happy with the performance of its Global Atlantic life insurance and annuity unit. Robert Lewin, the New York-based private equity firm’s chief financial officer, told securities analysts Tuesday that he sees no signs of credit problems affecting the bonds in Global Atlantic’s investment portfolio, and […]
Older-Age Life Insurance Application Flow Rises
{November 8th, 2022} by Allison Bell
Overall U.S. individual life insurance activity fell in October, but the number of applications coming from people ages 61 and older increased, according to MIB Group. The Braintree, Massachusetts-based life insurance underwriting organization says overall application flow was 5.2% lower last month than in October 2021. Click HERE to read the full story via ThinkAdvisor
5 Cash-Flow Challenges That Might Catch Life Insurers Off Guard
{November 8th, 2022} by Allison Bell
Some life insurers may not understand what rising interest rates and increased market volatility will do to their investment cash flow, an insurance investment expert said last week. Edward Toy, an insurance company financial examiner, said those life insurers have focused mainly on long-term asset adequacy without thinking enough about how much money might be going into […]
Hot Annuities Face SEC Form Reviewers
{November 8th, 2022} by Allison Bell
A Securities and Exchange Commission form reviewer said Thursday that he wants to make sure life insurers give investors a clear picture of how their registered index-linked annuity contracts will work. Michael Kosoff, an attorney on the staff of the SEC’s Division of Investment Management, talked about how that goal affects RILA filing approvals at […]
Lincoln Financial Aims to Rebuild Capital by Changing Sales Mix
{November 8th, 2022} by Allison Bell
Lincoln Financial is counting on agents, advisors and other distributors to help it recover from a $2.6 billion third-quarter net loss, by increasing sales of products that can generate the most profits per dollar of capital. Ellen Cooper, the Radnor, Pennsylvania-based company’s CEO, told securities analysts Thursday that the company plans to increase capital levels by cutting costs […]
Simplicity Welcomes Daly Brokerage as Kelly Daly and Lori Caiaze Join as New Partners
{November 8th, 2022} by Simplicity Group
SUMMIT, N.J., Nov. 2, 2022 /PRNewswire/ — Simplicity Group (“Simplicity”) today announced the acquisition of Connecticut-based Daly Brokerage, which was founded in 1997 by Kelly Daly. Over the last 25 years, Daly Brokerage has established itself as a leading, full-service wholesaling firm dedicated to providing superior service and products in the areas of life, annuity, and long-term care. Together […]
Buckle Up! We Are Going To Create An Indexed Annuity!
{November 8th, 2022} by Charlie Gipple
Get out your financial calculators, spectacles, and your pocket protectors because we are going to have some fun with this column. We are going to create a product. Of course I am being somewhat facetious because there’s much more that goes into “creating a product” than just the numbers, such as: Non-forfeiture requirements, state filing, […]
Simplicity Welcomes Marketing Financial to the Group as Alan Lockhart Joins as Partner
{November 8th, 2022} by Simplicity Group
SUMMIT, N.J., Nov. 3, 2022 /PRNewswire/ — Simplicity Group (“Simplicity”) today announced its 46th acquisition: Springfield, Missouri-based, Marketing Financial. The company, led by Alan Lockhart who becomes a Simplicity Group partner following this transaction, is a full-service wholesaling firm focused on supporting advisors within banks, credit unions and broker-dealers with life insurance, annuities, executive benefits, disability, and long-term care insurance products. […]
Impaired Risk Life Underwriting: Evolving With The Process
{November 8th, 2022} by Robert Goldstone
When asked to write on advances in impaired risk underwriting, I began to question the term “advances.” There are no arguments that technologically we have moved far ahead of where we were 10, 20, and 30 years ago. Ease of application has become a true benefit for the potential insured. It is far easier to […]
Fidelity National Financial, Inc. Announces Increase in Quarterly Cash Dividend
{November 8th, 2022} by Fidelity National Financial, Inc.
JACKSONVILLE, Fla., Nov. 3, 2022 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF) today announced that its Board of Directors has declared an increase in the Company’s quarterly cash dividend, to $0.45 per share, from the previous quarterly cash dividend of $0.44 per share. The dividend will be payable December 30, 2022, to stockholders of record as of December 16, 2022. About Fidelity National Financial, Inc. […]
AM Best Affirms Credit Ratings of Aegon N.V.’s U.S. Subsidiaries
{November 8th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of the U.S. life/health (L/H) subsidiaries of Aegon N.V. (Netherlands) [NYSE: AEG]. Aegon’s U.S. L/H companies are Transamerica Life Insurance Company and Transamerica Financial Life Insurance Company and referred to collectively as Aegon USA […]
Horace Mann reports third-quarter 2022 net income of 33 cents per share and core earnings* of 57 cents
{November 8th, 2022} by Horace Mann
SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) today reported financial results for the three months ended September 30, 2022: ($ in millions, except per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 % Change 2022 2021 % Change Total revenues […]
AM Best Affirms Credit Ratings of Ameriprise Financial, Inc. and Its Subsidiaries
{November 8th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of RiverSource Life Insurance Company (Minneapolis, MN) and its wholly owned subsidiary, RiverSource Life Insurance Co. of New York (Albany, NY). These companies represent the key life/health (L/H) insurance subsidiaries of […]
MassMutual Consumer Spending & Saving Index: Inflation and Recession Fears Have Americans Looking for Change
{November 8th, 2022} by MassMutual
SPRINGFIELD, Mass.–(BUSINESS WIRE)–Americans are heading into this holiday season increasingly stressed and less optimistic about the economy, according to the latest Consumer Spending & Saving Index from Massachusetts Mutual Life Insurance Company (MassMutual). The financial impacts of inflation and the increasing concern about a recession are continuing to put pressure on Americans’ financing, impacting their optimism and […]
Equitable Holdings Reports Third Quarter 2022 Results
{November 8th, 2022} by Equitable Holdings, Inc
NEW YORK–(BUSINESS WIRE)–Equitable Holdings, Inc. (“Equitable Holdings”, “Holdings”, or the “Company”) (NYSE: EQH) today announced financial results for the third quarter ended September 30, 2022. “In the tough economic environment, we delivered solid results reporting third quarter Non-GAAP operating earnings of $1.28 per share which, after adjusting for a favorable assumption update in the quarter, […]
Lincoln Financial Group Reports Third Quarter 2022 Results and Declares Quarterly Cash Dividend
{November 8th, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported a net loss for the third quarter of 2022 of $(2.6) billion, or $(15.17) per diluted share available to common stockholders, compared to net income in the third quarter of 2021 of $318 million, or $1.68 per diluted share available to common stockholders. Third quarter adjusted […]
American Financial Group, Inc. Announces Third Quarter Results and Declares Special Dividend
{November 8th, 2022} by American Financial Group
CINCINNATI–(BUSINESS WIRE)–American Financial Group, Inc. (NYSE: AFG) today reported 2022 third quarter net earnings of $165 million ($1.93 per share) compared to $219 million ($2.56 per share) in the 2021 third quarter. Net earnings for the 2022 third quarter included after-tax non-core realized losses on securities of $28 million ($0.32 per share loss). By comparison, […]
Ignite by Jackson Helps Young Professionals Explore Careers in Financial Services
{November 8th, 2022} by Jackson National Life Insurance Company
LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company (Jackson®), the main operating subsidiary of Jackson Financial Inc. (NYSE: JXN), has developed a premier career exploration program — Ignite by Jackson — to help young professionals learn about opportunities within the financial services industry. Ignite offers hands-on experience across multiple financial disciplines, including banking, insurance and asset management, as well as information […]
Jackson Hosts Legal and Compliance Summit to Increase Access to Annuities
{November 8th, 2022} by Jackson National Life Insurance Company
LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®), the main operating subsidiary of Jackson Financial Inc. (NYSE: JXN), held its Legal and Compliance Executive Council on October 27-28, 2022 in Washington, D.C. The goal of the meeting was to promote partnership, collaboration and transparency between distribution, legal and compliance leaders at Jackson and counterparts at more than […]
American Equity Reports Strong Earnings Driven by Continued Execution of AEL 2.0 Strategy with Private Asset Allocation Growing to 18.4%
{November 8th, 2022} by American Equity Investment Life Holding Company
WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), a leading issuer of fixed index annuities (FIAs) today reported on its third quarter 2022 results. These results include improved yields in the investment portfolio through continued ramping of our investment portfolio toward target allocation to privately sourced assets, and continued share repurchase […]
Brighthouse Financial Announces Third Quarter 2022 Results
{November 8th, 2022} by Brighthouse Financial, Inc
CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today its financial results for the third quarter ended September 30, 2022. Third Quarter 2022 Results The company reported a net loss available to shareholders of $702 million in the third quarter of 2022, or $9.82 per diluted share, compared with net […]
Federal Reserve Hikes by 0.75 Point, Signals Slower Increases but Ultimately Higher Rates
{November 8th, 2022} by Nick Timiraos
WASHINGTON—The Federal Reserve lifted interest rates by another 0.75 percentage point to combat inflation and signaled plans to keep raising them, possibly in smaller increments but to higher levels than previously anticipated. The increase approved Wednesday, the Fed’s fourth consecutive 0.75-point rate rise, lifts the central bank’s benchmark federal-funds to a range between 3.75% and 4%. After […]
Despite slammed quarter, Prudential sees brighter future with annuities
{November 8th, 2022} by Steven A. Morelli
Prudential Financial was slammed by losses in the third quarter, but showed growth in fixed annuities and plans to add to its growing stable of indexed variable annuities. “Building upon FlexGuard’s tremendous success, we plan to introduce FlexGuard Life, an indexed variable universal life product, later this month,” said CEO Charles Lowrey in the company’s […]
One Product From Life Insurers That’s Selling Itself Right Now
{November 8th, 2022} by Cyril Tuohy
“Consumers are flocking to fixed and indexed annuities because the yields on certificates of deposit are still abysmal,” said Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report. “I have multi-year guaranteed annuities that are crediting 4.90% annually, for three years,” she added. “Why would anyone lock into a five-year CD at […]
Equitable rides index-linked annuity sales success to strong 3Q
{November 8th, 2022} by John Hilton
When Equitable came out with the first registered indexed-linked annuity in 2011, the industry gave it the skeptical side eye, an executive recalled. “Everyone looked at us like we had three eyes and two heads or something,” said Robin Raju, chief financial officer. “No one was interested in the product in 2011 and now everyone […]
Retirement planning: How to manage longevity risk and inflation in a volatile market
{November 8th, 2022} by InvestmentNews Create
Financial professionals and their clients have recently been reminded that planning for retirement income means preparing for potential surges in inflation and market downturns, not just the risk of living longer. Click HERE to read the full story via InvestmentNews’ sponsored content by Athene
OK to buy life insurance with intent to resell it, Georgia court rules
{November 7th, 2022} by Steven A. Morelli
It is OK to buy life insurance on yourself with the intent to sell to a third party, according to a Georgia Supreme Court ruling in a case emanating from the HIV viatical era. Even though the $500,000 term policy was purchased fraudulently in the 1990s by someone who did not disclose his HIV-positive status […]
DPL launches referral program to match advisors with annuity-seeking investors
{November 7th, 2022} by DPL Financial Partners
FOR IMMEDIATE RELEASE DPL CONTACT: Greg Joslyn, The Lowe Group greg.joslyn@lowecom.com (414)-376-7275 DPL launches referral program to match advisors with annuity-seeking investors RIA-focused insurance platform responds to inbound inquiries from individuals about commission-free solutions for income, protection LOUISVILLE, KY, Nov. 3, 2021- DPL Financial Partners (“DPL”), the leading insurance platform for registered investment advisors (“RIAs”), […]
Mason Insurance Prepares to Serve More Agents and Consumers by Joining with Integrity
{November 5th, 2022} by Integrity Marketing Group
DALLAS, Nov. 1, 2022 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has entered into an agreement to acquire Mason Insurance, an independent agency based out of Colleyville, Texas. As part of the acquisition, Dale Mason, President of Mason Insurance, will become a […]
Would life insurance be available for a $1.9B Powerball winner?
{November 5th, 2022} by John Hilton
Update: Saturday night’s drawing yielded no winners, so the new Powerball jackpot increases to $1.9 billion for Monday night. There might not be enough life insurance available to cover a solo winner of the massive $1.5 billion Powerball jackpot. The next drawing is slated for Saturday night, with $745.9 million available to a single winner […]
CUNA Mutual Group Wins Accolades for Annuities Success
{November 1st, 2022} by CUNA Mutual Group
Industry Recognition from WealthManagement.com, ThinkAdvisor Accompany Recognition in Barron’s Best Annuities List for Fourth Successive Year MADISON, Wis., Oct. 26, 2022 /PRNewswire/ — CUNA Mutual Group’s dedication to improving retirement products, client service and company culture in the insurance and annuity space has earned them recognition from industry platforms. In 2022, the company received placements on Barron’s Best Annuities for Income and […]
