It was the scariest thing that I had ever done.
{May 30th, 2024} by Sheryl J. Moore
Nineteen years ago, I incorporated Wink, Inc. Starting this business was, at the time, the scariest thing I had ever done. What if I failed? According to the U.S. Bureau of Labor Statistics: – First year: 18–20% of businesses fail – Five years: 45–50% of businesses fail – Ten years: 65% of businesses fail – Fifteen years or […]
Special Edition! A note from Wink.
{May 30th, 2024} by Wink's Intel Pros
We were delaying the newsletter this week to coincide with the publishing of Wink’s Sales & Market Report’s annuity report, however, the report has been delayed a bit further than expected. It will be published early next week. What this week did bring was a special anniversary; 19 years ago on May 27th, Sheryl Moore […]
Delaware Life Announces Enhancements to Fixed Index Annuities, Bringing Innovation and Diversification Including the Invesco QQQ ETF
{May 30th, 2024} by Delaware Life Insurance Company
ZIONSVILLE, Ind.–(BUSINESS WIRE)–To give consumers a simple, tailored way to diversify returns and guarantee higher minimum growth, Delaware Life Insurance Company (Delaware Life), a Group 1001 company, announces the addition of two diversified, multi-strategy Precision Portfolios as part of the Growth Pathway fixed index annuity (FIA). As an additional enhancement, Growth Pathway is now the […]
Not your Grandma’s Annuities
{May 30th, 2024} by Sheryl J. Moore
I did a podcast for C2P Enterprises with Kirsten Schlumbohm, BPC for her “A Woman’s Clarity” program. This videos kicks off Annuity Awareness Month, shares how women humanize the life insurance industry, and reveals how annuities have transformed from your grandma’s restrictive contract, into a flexible, consumer-friendly vehicle for retirement income planning. Be sure […]
Insurance Associations File Legal Action Challenging U.S. Department of Labor’s Fiduciary-Only Regulation
{May 30th, 2024} by ACLI, NAIFA, Finseca, IIR ,NAFA
WASHINGTON – Nine insurance trade associations filed a lawsuit today against the U.S. Department of Labor (DOL) to overturn a regulation limiting consumers’ choice of financial professional and their access to retirement products that deliver protected lifetime income. The American Council of Life Insurers (ACLI), National Association of Insurance and Financial Advisors (NAIFA), NAIFA-Texas, NAIFA-Dallas, […]
Focus on outcomes, not mythical legal jargon, says Finseca CEO
{May 30th, 2024} by James Burton
Marc Cadin responds to a recent InvestmentNews editorial and explains why he believes the DOL process and pro-fiduciary rule argument are both flawed. If the final version of the Retirement Security Rule stoked the fire within Marc Cadin, the CEO of Finseca, the subsequent InvestmentNews editorial fanned the flames. Click HERE to read the full story via InvestmentNews […]
5 Reasons RILAs Are So Hot
{May 30th, 2024} by Allison Bell
Robin Raju, the chief financial officer at Equitable, wants to talk about the company’s efforts to add lifetime income options to the nation’s 401(k) plans. He wants to talk about the value the company gets from its AllianceBernstein asset management arm. Click HERE to read the full story via Think Advisor
Wade Pfau Makes Case for RILAs as Income Protectors
{May 30th, 2024} by Allison Bell
A medium-soft annuity cushion might create the best stream of retirement income. Wade Pfau, an economist who once served as director of the Retirement Income Certified Professional designation program, makes that case in a new analysis prepared with support from Equitable. Pfau looked at the performance of hypothetical portfolios for a hypothetical 65-year-old who was […]
Nationwide launches updated RILA
{May 30th, 2024} by Nationwide
Columbus, OH – May 23, 2024 – Amid concerns about the U.S. economy and inflation, investors have turned to annuities for protection against market downturns, with many leaning in to registered indexed-linked annuities for both growth and limited risk exposure. To better meet the needs of these investors, Nationwide has announced the launch of Nationwide Defined […]
In-plan annuities gaining steam: Where do we go from here?
{May 30th, 2024} by Susan Rupe
Annuities are becoming more available in the contribution space in association with 401(k) plans. What is the future of in-plan annuities, and have they reached a tipping point? Bryan Hodgens, head of distribution research and annuity research with LIMRA, provided some insights on where in-plan annuities are going during a recent LIMRA online event. With […]
9 trade groups file a second lawsuit to stop the DOL fiduciary rule
{May 30th, 2024} by John Hilton
Nine insurance trade associations filed a second lawsuit Friday against the Department of Labor to overturn its controversial Retirement Security Rule. The rule would rope most annuity transactions into a fiduciary duty, increasing liability exposure. The RSR takes partial effect Sept. 23 and requires “major changes” by producers, one analyst says. Click HERE to read the full […]
John Hancock and MIT AgeLab team up to study, improve longevity
{May 30th, 2024} by Doug Bailey
In a continuing effort to understand how the world’s increasingly aging population can live better and healthier lives – and how it can possibly profit from the knowledge – John Hancock has entered into a five-year, multimillion dollar collaboration with the Massachusetts Institute of Technology’s AgeLab, which researches longevity issues. Click HERE to read the full […]
AmeriLife adds a pair of new acquisitions as strong growth continues
{May 30th, 2024} by John Hilton
AmeriLife Group announced two recent deals that continue the company’s steady growth as a holistic retirement services juggernaut. Based in Clearwater, Fla., AmeriLife is among the independent marketing organization giants, with health, wealth and worksite benefit offerings, and everything in between. AmeriLife continues acquiring “partners,” adding 73 companies across its health and wealth distribution roster […]
Judge with a history of striking down federal rules will hear DOL lawsuit
{May 30th, 2024} by John Hilton
A lawsuit filed by nine industry trade associations against the latest Department of Labor fiduciary rule will be heard by a Texas judge with a reputation for vacating federal rules. Several powerful trade groups – including the American Council of Life Insurers and the National Association of Insurance and Financial Advisors – filed the lawsuit […]
Hexure Expands Its Quoting to Include Annuities
{May 30th, 2024} by Hexure
COLORADO SPRINGS, Colo.–(BUSINESS WIRE)–Hexure, a provider of sales and regulatory automation solutions for the life and annuity industry, announced the addition of annuity products to its quoting solution. Annuity quoting with side-by-side comparisons within Hexure’s platform makes finding the right product easier and faster, improving advisor productivity and client satisfaction. “We are excited to expand our quoting […]
How can this product not exist? Does it, and I’m missing it?
{May 30th, 2024} by Sheryl J. Moore
I am always trying to learn more about the Registered Investment Advisor (RIA) distribution. It has become a keen interest of mine, since it became a distribution channel for annuities. I have found that one of the best ways of learning about this new distribution is having conversations with investment advisors. Today, I had an […]
Annuity Advisor Settles With SEC Over Product Recommendations
{May 30th, 2024} by Allison Bell
The U.S. Securities and Exchange Commission told an investment advisor that he should have considered fee-based variable annuities along with commission-based variable annuities when making product recommendations. The SEC said Monday that it has accepted a $1.1 million settlement offer from the advisor, Raymond Lawrence Lent, in connection with concerns about Lent’s compensation disclosures for variable […]
Ranked: The World’s 50 Largest Private Equity Firms
{May 30th, 2024} by Niccolo Conte
In 2023, private equity firms controlled $8.2 trillion in assets globally according to McKinsey & Company, a figure that has rapidly expanded since the industry first emerged 40 years ago. As large investors such as pension funds and insurance companies increasingly look to private markets, these alternative asset managers have seen their assets grow by more than twofold […]
How to address your client’s annuity concerns
{May 30th, 2024} by Ayo Mseka
Although annuities are currently experiencing record sales and can play a major role in helping consumers secure their financial future, financial professionals may still face objections when trying to sell them to clients and prospects. Some say they are difficult to understand, carry high fees, and are subject to market volatility. We spoke to several MDRT members […]
When Insurers Fail
{May 30th, 2024} by Mary Walsh
The troubles are deepening fast for the unhappy insurance family of 777 Re, Sentinel Security Life, Atlantic Coast Life, A-Cap, and all their corporate kith and kin. The outlook for their unwitting policyholders is dim. The companies and their principals have been named in some 20 lawsuits, in multiple jurisdictions, by creditors chasing hundreds of […]
Connecticut Puts Phoenix Life and Annuity Issuer in Rehab
{May 30th, 2024} by Allison Bell
Connecticut Insurance Commissioner Andrew Mais has received approval from a state court in Hartford to put PHL Variable Insurance Co. — the insurer that once wrote the Phoenix Companies’ variable insurance policies and variable annuity contracts — in rehabilitation. The rehabilitation order, which also includes two reinsurers controlled by PHL, limits benefits payments and cash withdrawals, and […]
We are NOT that firm.
{May 30th, 2024} by Sheryl Moore
Wink, Inc. is a third-party market research firm. I own 100% of the company. My nearest competitor is owned by the insurance companies that report sales to them. I remember a time when that company was reporting structured annuity/RILA sales with their indexed annuity breakouts. Sometimes insurance companies want me to report their sales differently […]
Three Reasons Fixed Index Annuities Are Better Than Bonds In Your Retirement Portfolio
{May 30th, 2024} by Aaron Cirksena
When financial advisors seek ways to manage risk in retirement investing, they typically look to bonds, which are traditionally seen as the optimal asset for offsetting the volatility in stock markets. By orchestrating a healthy mix of stocks and bonds in retirement accounts, advisors create a higher level of stability. Click HERE to read the […]
Why Are You Still Selling Life Insurance With Lifetime Guarantees?
{May 30th, 2024} by J. J. Bowman
Permanent life insurance comes in many forms. Too often, however, clients are presented as if only two types exist: “guaranteed” and “non-guaranteed.” Whether intentional or not, framing the choice this way creates a false dichotomy and too often leads clients toward solutions that don’t best meet their needs. In my experience, the most successful producers […]
Many Americans hope to live to 100, but are their retirement plans up to the challenge?
{May 30th, 2024} by Ayo Mseka
More than half (54%) of Americans say it’s their goal to live to 100, according to a new study from Corebridge Financial and The Longevity Project. Family, friends, and new experiences are seen as the top benefits of living a very long life, with 72% of respondents citing continued meaningful with family and friends and 65% looking […]
Annuity Issuers Armor Up Against Private Equity Players
{May 30th, 2024} by Allison Bell
Private equity firms’ pressure on the U.S. individual annuity market will keep the supply of registered index-linked annuities growing, according to Swiss Re Institute analysts. The traditional annuity issuers have been armoring up with captive insurers and sidecars to push back against the private equity-backed newcomers. Click HERE to read the full story via Think […]
Life insurance set to boom as interest rates surge, says Swiss Re Institute
{May 30th, 2024} by Swiss Re
Zurich, 27 May 2024 – Higher interest rates around the world are transforming the outlook for life insurance growth and profitability. Savings products are attractive to consumers after a decade of weak demand and low returns. Swiss Re Institute expects a new high for US fixed annuity sales this year after record sales in both […]
Stock Gains Pushed Index-Linked Annuity and Life Sales Higher in Q1
{May 30th, 2024} by Allison Bell
Strong stock market gains and stable interest rates helped increase sales of index-linked annuities and index-linked life insurance policies in the first quarter, according to new issuer survey data from LIMRA. U.S. sales of individual registered index-linked annuities, or RILA contracts, which are regulated as variable annuities, increased 39% between the first quarter of 2023 and […]
3 Big Gaps in the DOL’s Case for Its New Fiduciary Regs
{May 30th, 2024} by Allison Bell
Officials at the U.S. Labor Department don’t seem to want to use their new retirement investment advice fiduciary definition to destroy the lives of commissioned agents who sell annuities and life insurance. They say, over and over again, in the introduction to the Retirement Security Rule and in a separate, related set of guidelines for insurance agents, […]
Swiss Re reveals impact of higher rates
{May 30th, 2024} by Kenneth Araullo
With higher interest rates reshaping the landscape for life insurance growth and profitability, savings products are becoming more attractive to consumers after a decade of low demand and returns. In a new study, Swiss Re Institute projects a new high for US fixed annuity sales this year, following record sales in 2022 and 2023. Click HERE to read […]
Annuity FA Settles with SEC for $1.1M over Product Recommendations
{May 30th, 2024} by Alex Padalka
The Securities and Exchange Commission has reached a more than $1 million settlement with an experienced financial advisor over his choice of annuities and money market funds for his clients. The commission claims that from at least April 2016 through Oct. 1, 2021, Raymond Lent — a registered broker since 1976 who was doing business as The Putney Financial […]
Liver, yes. Corneas, no. FDA urged to relax tissue donation ban for gay and bisexual men
{May 30th, 2024} by Rae Ellen Bichell
And they are frustrated. The FDA has put changes to the tissue guidance on its agenda since 2022 but has yet to act on them. One of the loudest voices is Sheryl J. Moore, who took up the cause when her 16-year-old son died in 2013. She and a Colorado doctor named Michael Puente Jr. started a campaign […]
CANNEX Annuity Marketplace Launched to Broaden Industry Access to Annuity Evaluation and Selection Tools
{May 30th, 2024} by CANNEX
CHARLOTTE, N.C., May 22, 2024 /PRNewswire/ — CANNEX has partnered with Luma Financial Technologies to launch the CANNEX Annuity Marketplace, making it easier for financial professionals at small and mid-sized firms to select annuities and make decisions on asset allocations, terms, and riders. he new marketplace provides the ability to analyze the performance of hundreds of fixed, […]
PHL Variable Insurance Company Rehabilitation
{May 30th, 2024} by CT Insurance Department
PHL Variable Insurance Company and its subsidiaries, Concord Re, Inc. and Palisado Re, Inc. (collectively, “PHL”) entered rehabilitation proceedings in the Connecticut Superior Court on May 20, 2024. The proceedings were initiated by the Connecticut Insurance Department in response to PHL’s hazardous financial condition. Click HERE to read the full story via: CT.Gov Wink’s […]
The books are here!
{May 30th, 2024} by Sheryl J. Moore
It’s an easy read and I think you will enjoy it! I appreciate your support. To purchase the book, please call our office at 855-ASK-WINK xt 203 to speak with Cathy. or Amazon https://www.amazon.com/dp/B0D4MMMPTJ/?ref_=cm_wl_huc_item -sjm
DOL pulling a ‘deceptive’ maneuver with new fiduciary rule, analyst says
{May 21st, 2024} by John Hilton
The Department of Labor wrote its new Retirement Security Rule with a big focus on convincing a court that it has the authority to extend fiduciary duty to individual retirement plans. But one prominent analyst said they have done so in a “deceptive” manner. Brad Campbell, partner at Faegre Drinker, is no fan of the […]
DOL fiduciary rule in crosshairs of House, Senate resolutions
{May 21st, 2024} by Courtney Degen
A group of mostly GOP lawmakers in the House and Senate May 15 introduced resolutions to overturn the Labor Department’s new rule amending the definition of a fiduciary. The rule, finalized April 23, changed the test used to determine when someone is an investment advice fiduciary under ERISA. The changes make it so one-time advice, such as […]
Insurance Associations Applaud Congressional Action On Fiduciary Regulation
{May 21st, 2024} by ACLI
WASHINGTON – The American Council of Life Insurers (ACLI), National Association of Insurance and Financial Advisors (NAIFA), Finseca, Insured Retirement Institute (IRI) and National Association for Fixed Annuities (NAFA) issued the following statement on the Congressional Review Act (CRA) resolution to prevent the Labor Department’s fiduciary regulation from taking effect: “The actions today by Rep. […]
7 Top Q1 Annuity Earnings Surprises
{May 21st, 2024} by Allison Bell
Big annuity issuers continued to be remarkably happy with their annuity businesses in the first quarter. Some may have had a harder time competing for sales or holding on to assets than others, but executives generally expressed joy about the current high level of consumer excitement about annuities. Click HERE to view the slideshow
Transamerica Announces New Collaboration With First Trust
{May 21st, 2024} by Transamerica
BALTIMORE, May 20, 2024 /PRNewswire/ — Today Transamerica announced a new collaboration with FT Indexing Solutions LLC (“First Trust”) that adds the First Trust Equity Edge Index™ to the popular and innovative Transamerica Structured Index Advantage® Annuity. The new equity index option, Equity First Trust Edge (Nasdaq: FTEQUEDGE), is exclusively available through Transamerica’s registered index-linked annuity. The index provides additional exposure […]
Best’s Special Report: US Life/Annuity Investment Portfolio Yields Rebound in 2023
{May 21st, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–Rising interest rates in 2023 helped boost the portfolio yields of U.S. life/annuity insurers by nearly 30 basis points, to 4.74% from 4.47% in the previous year, according to a new AM Best report. he Best’s Special Report, “US Life/Annuity Investment Portfolio Yields Rebound in 2023,” states that the improvement in total portfolio yield occurred as […]
AM Best Comments on Credit Ratings of Members of Corebridge Financial Following Announced Agreement
{May 21st, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has commented that the Credit Ratings (ratings) of the members of Corebridge Financial (Corebridge) remain unchanged following the recently announced definitive agreement whereby American International Group, Inc. (AIG) will sell a 20% share in Corebridge to Nippon Life Insurance Company for approximately USD $3.8 billion in a straight cash transaction. AIG has […]
Lincoln Financial Group Strengthens Its Award-Winning Registered Index Linked Annuity, Launches Lincoln Level Advantage 2SM
{May 21st, 2024} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today announced a new version of its award-winning Lincoln Level Advantage® indexed variable annuity with the launch of Lincoln Level Advantage 2SM index-linked annuity. Building on the innovations of the first generation, Lincoln Level Advantage 2 offers investors even more opportunities for protection and growth with the industry’s first indexed accounts that track the performance […]
Lincoln Financial Group Appoints Brian Kroll as EVP, Head of Retail Life and Annuity Solutions
{May 21st, 2024} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today announced that Brian Kroll will be appointed Executive Vice President, Head of Retail Life and Annuity Solutions, effective May 16, 2024. Kroll will report to Chairman, President and CEO Ellen Cooper and will be a member of the company’s Senior Management Committee. He will be responsible for […]
AM Best Affirms Credit Ratings of Ameritas Life Insurance Corp. and Its Subsidiary
{May 21st, 2024} 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 Ameritas Life Insurance Corp. (Lincoln, NE) and Ameritas Life Insurance Corp. of New York (New York, NY). These insurance entities comprise the life/health operations of Ameritas Mutual Holding Company (all companies are collectively […]
Jackson Study Reveals Consumers Anxious About Inflation; Financial Professionals Recommend Diversifying
{May 21st, 2024} by Jackson National Life Insurance Company
LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company (Jackson®), the main operating subsidiary of Jackson Financial Inc.1 (NYSE: JXN), today released key findings from its study on how consumers and financial professionals perceive inflation risk and the associated impacts on retirement income planning. The study is the second installment of Jackson’s Security in Retirement Series conducted in partnership with the Center for Retirement […]
Pacific Life Named by Points of Light as One of America’s 50 Most Community-Minded Companies for Third Consecutive Year
{May 21st, 2024} by Pacific Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life has been named a national 2024 Civic 50 honoree by Points of Light, acknowledging it as one of the 50 most community-minded companies in the United States. The Civic 50 sets the standard for corporate citizenship and showcases how leading companies are moving social impact and community to the core […]
Midland National Offers No. 1 Fixed Index Annuity for RIAs in 2023
{May 21st, 2024} by Midland National Life Insurance Company
WEST DES MOINES, Iowa–(BUSINESS WIRE)–Capital Income®, Midland National’s first commission-free fixed index annuity (FIA), was named top fee-based fixed index annuity in 2023, according to LIMRA1. In 2021, Midland National Life Insurance Company, a Sammons Financial Group member company, introduced a dedicated team, Midland Advisory, which is focused on designing annuity solutions tailored for registered investment advisors (RIAs) to offer their […]
Louisiana adopts annuity best-interest standard
{May 21st, 2024} by Leo Alamazora
Associations for life insurers and financial advisors laud the move, renews call for “sensible protections” around guaranteed lifetime income products. The cross-country movement of states embracing the best interest annuity rule for consumers has just gained more ground in the South. Click HERE to read the full story via InvestmentNews
Lawmakers Move to Torpedo New DOL Fiduciary Rule
{May 21st, 2024} by Melanie Waddell
Four senators — three Republicans and one Democrat — introduced Wednesday a resolution of disapproval under the Congressional Review Act to overturn the Labor Department’s new fiduciary rule. The senators — Ted Budd, R-N.C.; Bill Cassidy, R-La.; Joe Manchin, D-W.V., and Roger Marshall, R-Kansas — said in a joint statement Wednesday that the new rule, which Labor released on April 23, “would endanger […]
Why Aren’t More RIAs Offering Annuities? Flourish President Blames Weak Tech
{May 21st, 2024} by Allison Bell
Ben Cruikshank maintains that the gap between the annuity tech tools RIAs have in theory and the tools they really have is wide. Cruikshank is the president of Flourish, a financial technology firm that’s owned by MassMutual and launched an annuity distribution arm in January. Click HERE to read the full story via ThinkAdvisor Wink’s Moore on […]
Nasdaq composite today: The index closed up 10.20% YTD
{May 21st, 2024} by Wayne Duggan and Farran Powell
The Nasdaq composite closed today [May 14] at 16,508.53. Compared to yesterday’s close, the benchmark index rose by 120.29 points, or 0.73%. Year to date, the benchmark index is up by 10.20%. Click HERE to read the story via USA Today Wink’s Moore on the Market: Only 0.2% of indexed annuity sales are based upon […]
John Currier named president of F&G Annuities and Life
{May 21st, 2024} by F&G Annuities & Life, Inc.
DES MOINES, May 13, 2024 – F&G Annuities & Life announced the appointment of John Currier to the position of President, continuing to report to Chris Blunt, Chief Executive Officer. In addition to his role as President of F&G, Mr. Currier will continue to have responsibility for the Retail Markets business unit. Chris Blunt, Chief […]
John Hancock inks longevity research partnership with MIT
{May 21st, 2024} by Leo Alamazora
John Hancock is taking a frontline position in addressing the retirement readiness crisis by entering into a groundbreaking research partnership. Click HERE to read the full story via InvestmentNews Wink’s Moore on the Market: “The fastest-growing age cohort in the world is people over 85. As we continue to see people live longer lives, […]
Nippon Life to Acquire 20% Stake in Corebridge
{May 21st, 2024} by Allison Bell
Nippon Life has agreed to pay $3.8 billion for a 20% stake in AIG’s Corebridge Financial life insurance and annuity affiliate. The companies hope to complete the deal by March 31, AIG said Thursday. Click HERE to read the full story via Think Advisor
Lincoln Financial Gets New Individual Life & Annuities Head
{May 21st, 2024} by Allison Bell
Lincoln Financial has picked Brian Kroll, a former company executive, to take over as head of retail life and annuity solutions. Kroll succeeds Matt Grove, who will serve as a company advisor until Dec. 31, according to a new filing. Click HERE to read the full story via Think Advisor
Gimme (tax) shelter: The unlimited annuity shielding ultrawealthy clients
{May 21st, 2024} by Tobias Salinger
The tax benefits of private placement variable annuities for wealthy clients are drawing scrutiny and calls for a federal crackdown — but they’re not going away anytime soon. Deferral or the outright avoidance of taxes on income, capital gains and estates has drawn billions of dollars to private placement life insurance and annuities. The growth […]
Is planning for age 95 longevity overkill?
{May 21st, 2024} by Leo Alamazora
With data drawing on 266 million cases, white paper suggests the rule of thumb can cause retirement plans to massively overshoot clients’ actual needs. A new white paper from HealthView Services, a leading provider of retirement cost data and planning tools for the financial industry, is challenging the industry practice of planning for clients to […]
We’ll continue to fight’: Greg Lindberg attorney says bribery case isn’t over
{May 21st, 2024} by John Hilton
An attorney for embattled financier Greg Lindberg hinted at an appeal two days after his client was convicted for a second time of bribing North Carolina Insurance Commissioner Mike Causey. “We were genuinely surprised by the verdict. We will continue to fight,” said Brandon McCarthy, partner at Katten, Muchin, Rosenman. Click HERE to read the […]
Greg Lindberg faces up to 30 years in prison after guilty verdict on bribery charge
{May 21st, 2024} by John Hilton
Greg Lindberg, troubled financier and former owner of Colorado Bankers Life Insurance Co., was found guilty Wednesday for a second time of bribing the North Carolina insurance commissioner. The jury returned unanimous guilty verdicts for Lindberg, 53, and consultant John Gray on the two counts they were charged with: bribery and conspiracy to commit honest […]
Former Beachbody Exec Buys Annuity.com, Plans $16M Revamp
{May 21st, 2024} by Allison Bell
A direct-sales marketing veteran and executive coach wants to help annuity agents pump their sales up. Brett Blake, the former managing director of Team Beachbody, has acquired Annuity.com Inc. from Bill Broich. He has announced plans to spend $15.7 million to build a platform that agents can use to educate and connect with retirement savers. Click HERE […]
Integrity and Northern Ohio Health and Wellness Benefits Partner to Offer Holistic Solutions to American Families
{May 21st, 2024} by Integrity Marketing Group, LLC
Integrity’s robust Suite of Solutions will empower the fast-growing agency to bolster its focus on helping agents better protect the life, health and wealth of the clients they serve DALLAS, May 15, 2024 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, […]
New annualized life insurance premium dips in Q1, LIMRA reports
{May 21st, 2024} by LIMRA
Total individual life insurance new annualized premium slipped 1% year over year to $3.76 billion in the first quarter, according to LIMRA’s preliminary U.S. Life Insurance Sales Survey. The total number of policies sold also dropped 1% in the first quarter. The decline doesn’t mean a lack of positive news within the numbers, said John […]
More people are turning 65 this year than ever before. That has sparked a gold rush for the retirement industry
{May 20th, 2024} by Samantha Delouya
More Americans are turning 65 this year than ever before, and that number is set to creep even higher over the next few years. It’s fueling a huge rollout of new retirement products — but they’re not all golden tickets. An average of 11,200 Americans will reach that traditional retirement age each day in 2024, […]
Let’s End the Annuity Commission Smear
{May 14th, 2024} by David Macchia
In today’s video, I set the record straight on an annuity commissions. Agents are not overpaid. Commissions are not a bad thing. In fact, they’re very good thing…for consumers. “Sheryl Moore was kind enough to share some stats with me, from her Wink’s Sales & Market Report.“
How many different insurance companies are you appointed with?
{May 14th, 2024} by Sheryl J. Moore
This U.S. Department of Labor stuff is driving me crazy. I could use your help updating a stat that I use… Click HERE for the poll: For insurance agents- how many different insurance companies are you appointed with? -sjm
This is what U.S. DOL relied on
{May 14th, 2024} by Sheryl J. Moore
The U.S. Department of Labor relied upon a study of RIAs and B/Ds for their rationale on indexed annuities, which are sold by independent insurance agents 57.4% of the time. As a lady who relies on FACTS, to do what she does, I am completely baffled by the made-up bologna that the U.S. Department of Labor […]
Brighthouse to Change How It Makes RILAs
{May 14th, 2024} by Allison Bell
Brighthouse Financial has increased sales of registered index-linked annuities so quickly that it will have to move to a different strategy for making RILAs, company executives said Wednesday. Brighthouse has been managing the financial machinery behind the RILA benefit guarantees together with the financial machinery behind its traditional variable annuities. Click HERE to read the full […]
The DOL Retirement Security Rule Promotes a Narrow Worldview
{May 14th, 2024} by David Macchia
When the Labor Department wrote the document it used to describe its new Retirement Security Rule, department officials embraced the worldview of registered securities sales representatives and other investment advisors. Not the worldview of insurance agents, and certainly not the worldview of retirement income distribution planners. Click HERE to read the full story via Think Advisor
U.S. Life Activity Springs Back Up
{May 14th, 2024} by Allison Bell
U.S. life insurance application activity jumped up in April, after drifting through months of weak year-over-year performance. Shoppers submitted 10.3% more applications last month than in April 2023, according to new data from MIB Group. Click HERE to read the full story via Think Advisor
Will Courts Crush DOL’s New Fiduciary Rule Soon? Don’t Count on It.
{May 14th, 2024} by Melanie Waddell
Now that the Labor Department’s new fiduciary rule has been hit with its first lawsuit, others are likely to follow. In the meantime, compliance with the rule marches on as the effective date nears — and advisors should stay the course. On May 2, the Federation of Americans for Consumer Choice and several independent insurance […]
Annuity Issuer CEO Names DOL Fiduciary Rule Winners and Losers
{May 14th, 2024} by Allison Bell
The new U.S. Labor Department fiduciary standards for retirement rollover advice could help stronger independent marketing organizations crowd out competitors, according to the leader of a top annuity issuer. Chris Blunt, the chief executive officer of F&G Annuities & Life, talked about the impact of the department’s new Retirement Security Rule regulation effort last week, […]
National Western Life Group, Inc. Announces 2024 First Quarter Earnings
{May 14th, 2024} by National Western Life Group, Inc.
AUSTIN, Texas, May 9, 2024 /PRNewswire/ — Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today first quarter 2024 consolidated net earnings of $73.6 million, or $20.82 per diluted share of Class A Common Stock, compared with consolidated net earnings of $12.3 million, or $3.48 per diluted share of Class A Common […]
TruStage Enhances Zone Income Annuity Product with Greater Flexibility
{May 14th, 2024} by TruStage
MADISON, Wis., May 8, 2024 /PRNewswire/ — TruStage™, an insurance, investment and technology provider, focused on making brighter financial futures accessible for all, today announced enhancements to its Zone Income Annuity underwritten by MEMBERS Life Insurance Company. The changes help allow TruStage to better meet modern client expectations for customized investment and income options. With new withdrawal […]
F&G Annuities & Life Reports First Quarter 2024 Results
{May 14th, 2024} by F&G Annuities & Life, Inc.
DES MOINES, Iowa, May 8, 2024 /PRNewswire/ — F&G Annuities & Life, Inc. (NYSE: FG) (F&G or the Company), a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, today reported financial results for the first quarter ended March 31, 2024. Net earnings attributable to common shareholders (net earnings) for the first quarter of $111 million, […]
FNF Reports First Quarter 2024 Financial Results
{May 14th, 2024} by Fidelity National Financial, Inc.
JACKSONVILLE, Fla., May 8, 2024 /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 its majority-owned, publicly traded subsidiary F&G Annuities & […]
KBRA Assigns Ratings to SILAC Insurance Company and Sterling Investors Life Insurance Company
{May 14th, 2024} by KBRA
EW YORK–(BUSINESS WIRE)–KBRA assigns BBB insurance financial strength ratings to SILAC Insurance Company (“SILAC”) and Sterling Investors Life Insurance Company (“SILIC”). The Outlook for both ratings is Stable. The ratings reflect solid capitalization with favorable growth trends in capital, a seasoned management team, minimal exposure to disintermediation risk, and expanded distribution with a focus on […]
Gainbridge® Announces Parity Week to Empower Girls and Women in Sports and Education
{May 14th, 2024} by Gainbridge
ZIONSVILLE, Ind.–(BUSINESS WIRE)–As part of this year’s “Parity Week by Gainbridge®: Investing in the Future of Women’s Sports,” Gainbridge® announces grants totaling $150,000 to deserving organizations that support girls and women through sports and/or education from Gainbridge®, Parity, and Women Gainbridge®, a Group 1001 company, is partnering with its sister company Parity, a brand sponsorship platform committed […]
Jackson Announces First Quarter 2024 Results
{May 14th, 2024} by Jackson National Life Insurance Company
LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc. (NYSE: JXN) (Jackson®) today announced its financial results for the first quarter ended March 31, 2024. Key Highlights Net income (loss) attributable to Jackson Financial Inc. common shareholders of $784 million, or $9.94 per diluted share in the first quarter of 2024, compared to $(1.5) billion, or $(18.11) per diluted […]
Brighthouse Financial Announces First Quarter 2024 Results
{May 14th, 2024} 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 first quarter ended March 31, 2024. First Quarter 2024 Results The company reported a net loss available to shareholders of $519 million in the first quarter of 2024, or $8.22 per diluted share, compared with a […]
DALBAR Reveals Variable Annuity Statements that Exceed Expectations
{May 14th, 2024} by DALBAR
MARLBOROUGH, Mass.–(BUSINESS WIRE)–DALBAR, the authority on financial services communications quality, unveiled the results of its 26-year annual review of account statements, crowning Corebridge Financial, Lincoln Financial and Jackson National Life Insurance Company® (Jackson®) as the standard bearers for variable annuity statements. Reigning supreme for 22 years, Corebridge Financial topped the list again by demystifying annuity statements with […]
Lincoln Financial Group and American Century Enhance Offerings in Variable Insurance Trusts Lineup
{May 14th, 2024} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) and American Century Investments announced today that they are strengthening their partnership by leveraging American Century’s investment expertise and Lincoln Financial’s platform to provide additional opportunities and an enhanced lineup to support investor needs. On April 4, 2024, shareholders of the American Century Variable Portfolios funds approved the […]
Protective Life Corporation Announces Board of Directors Updates
{May 14th, 2024} by Protective Life Corporation
BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (Protective), a subsidiary of Dai-ichi Life Holdings, Inc. (Dai-ichi, TSE:8750), announces updates to its board of directors. Newly appointed directors include Stephen Barnham, Senior Managing Executive Officer, Chief Information Officer and Chief Digital Officer of Dai-ichi Life Holdings, Inc.; Joseph Guastella, Owner of OJW Advisors; Bruce Koepfgen, former President of […]
Lincoln Financial Meets Shifting Customer Need for Growth and Flexibility With Revamped MoneyGuard® Product
{May 14th, 2024} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) is meeting shifting customer preferences for growth over guarantees1 with the launch of Lincoln MoneyGuard Market Advantage® (2024), issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, and providing consumers with trusted long-term care protection, increased investment options and flexibility, and a tax advantage their portfolio might be missing. Lincoln […]
Major insurance company moving to downtown Des Moines, a boost for office market, restaurants
{May 14th, 2024} by Tyler Jett
Downtown Des Moines received a big boost Thursday when American Equity Investment Life Holding Co. announced that it will move its headquarters to the city center from the suburbs. The company, acquired last week by Brookfield Reinsurance in a deal valued at $4.3 billion, will move from its West Des Moines offices by the time its current […]
How much of an income edge could retirees get from annuities?
{May 14th, 2024} by Leo Alamazora
TIAA, a provider of lifetime income solutions, has introduced a new metric designed to illustrate the potential income boost new retirees could achieve from incorporating an annuity strategy into their financial planning compared to just following the 4% rule. Click HERE to read the full story via InvestmentNews
New Metric Demonstrates the TIAA Annuity Paycheck Advantage in Retirement
{May 14th, 2024} by TIAA
NEW YORK, May 13, 2024 /PRNewswire/ — TIAA, the leader in lifetime income, has launched a new metric—the TIAA Annuity Paycheck Advantage—that demonstrates, in a concise, easily understandable way, the potentially significant additional income new retirees can receive by combining a TIAA annuity with a 4% withdrawal versus using the standard 4% withdrawal rule alone.ii “Retirement advice tends […]
F&G Annuities & Life Announces Appointment of John Currier to President
{May 14th, 2024} by F&G Annuities & Life, Inc.
DES MOINES, Iowa, May 13, 2024 /PRNewswire/ — F&G Annuities & Life, Inc. (NYSE: FG) (F&G or the Company) a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, today announced the appointment of John Currier to the position of President, continuing to report to Chris Blunt, Chief Executive Officer. In addition to his role as […]
Nearly half of Americans expect slow transition into retirement
{May 14th, 2024} by Allianz Life
MINNEAPOLIS – May 7, 2024 – Americans’ view of retirement is shifting as nearly half of Americans think about retirement as a slow transition away from full-time work rather than a distinct day in the future to leave the workforce, according to the 2024 Annual Retirement Study* from Allianz Life Insurance Company of North America (Allianz […]
Bestow to sell its life insurance company to Sammons
{May 14th, 2024} by Susan Rupe
Bestow Inc. announced Thursday it will sell its life insurance company to Sammons Financial Group. Bestow Life Insurance Co. will transition to Sammons as soon as the state of Iowa approves the deal, following the required hearing scheduled for May 28. Bestow Inc. will continue to leverage its technology and platform as part of the […]
Gen Z clients may be the right fit for the new breed of IUL products
{May 14th, 2024} by Joshua Stanfield
Do you remember when you were 25 years old? For some of us, it’s a more recent memory than others, but we can all identify with the 25-year-olds who are finally finding their financial footing. Their student loan debt may be decreasing, their salary growing and they may be wondering what’s next. Click HERE to […]
Athene commits to FIAs and ‘custom indices’ as it dominates annuity sales
{May 14th, 2024} by John Hilton
Athene Life and Annuity maintains a Secretariat-like lead over the field in annuity sales, but the insurer still sees turbulence within its product mix. Athene executives met with Wall Street analysts Thursday to pull back the curtain on its first-quarter financial numbers. In 2023, Athene nearly lapped the field with $35.5 billion in annuity sales, […]
Former American Income agent surrenders license in phony life app flap
{May 14th, 2024} by John Hilton
A Pennsylvania agent found to be selling fictitious life insurance policies is providing more ammunition for critics of Globe Life Insurance Co. Jenna S. Grula, of Hanover Township, Pa., allegedly submitted 13 fraudulent life insurance applications between Nov. 14, 2018, and June 27, 2023, according to an April 29 consent order from the Pennsylvania Department […]
Greg Lindberg back on trial for alleged bribery of insurance commissioner
{May 14th, 2024} by John Hilton
Troubled financier Greg Lindberg faces a second trial on high-profile bribery allegations starting Tuesday. Lindberg was convicted in 2020 on bribery and fraud charges, along with consultant John Gray. They were caught on tape offering North Carolina Insurance Commissioner Mike Causey up to $2 million to replace the deputy in charge of monitoring Lindberg’s companies. […]
Allianz focuses on accumulation market with new FIA
{May 14th, 2024} by John Hilton
Allianz Life Insurance Co. has a long history as a top-selling annuity company with a diverse product suite. The insurer recently added to its annuity shelf with the new accumulation-focused product, Allianz Accumulation Advantage+. The fixed-index annuity combines accumulation potential with a premium bonus, Allianz said in a news release. Click HERE to read the full […]
What’s pushing many Americans into a debt spiral?
{May 14th, 2024} by Leo Alamazora
A recent survey by Achieve, a digital personal finance company, highlights the challenges American households face in managing debt amid rising inflation and stagnant wages. Click HERE to read the full story via InvestmentNews
Brookfield Reinsurance Announces Credit Rating Upgrade of American Equity Investment Life Insurance Company to A
{May 14th, 2024} by Brookfield Reinsurance
BROOKFIELD, NEWS, May 07, 2024 (GLOBE NEWSWIRE) — Brookfield Reinsurance (NYSE, TSX: BNRE, BNRE.A) today announced that its wholly-owned operating subsidiary American Equity Investment Life Insurance Company (“AEL”) has received an upgrade to its Insurer Financial Strength (“IFS”) rating from S&P Global Ratings (“S&P”) to “A” from “A-”. The upgrade reflects AEL being core to […]
Prudential’s Record FlexGuard Sales Hint at Largely Untapped Market
{May 14th, 2024} by Warren S. Hersch
Wink CEO Sheryl Moore also thinks that indexed-linked variable life policies will become more prevalent. Like Parrish, she sees consumer interest in comparable structured annuities fueling adoption — and among a certain type of buyer. “The ideal prospect for structured life is a consumer wanting cash value life insurance that can outpace indexed life but has the ability […]
Fitch affirms A- rating and revises outlook to positive for Constellation Insurance, Inc.
{May 14th, 2024} by Constellation Insurance Inc.
Constellation Insurance, Inc., announced today Fitch Ratings has affirmed its ‘A-‘ Insurer Financial Strength (IFS) rating for AuguStarSM Life Insurance Company, AuguStarSM Life Assurance Corporation and National Security Life and Annuity Co., and has revised the outlook to positive from stable. “We are pleased that Fitch has recognized the continued successful execution of our enterprise strategic plan […]
Osaic Closes Lincoln RIA and BD Acquisition
{May 14th, 2024} by John Manganaro
Osaic, formerly Advisor Group, says it has successfully closed its acquisition of broker-dealer Lincoln Financial Advisors and Lincoln Financial Securities, its partner registered investment advisor firm. Osaic revealed its acquisition plan in December, noting that the dual transaction would bring about 1,450 advisors and $115 billion in client assets to the firm. At the time, Osaic […]
Getting to know our Chief Everything Officer
{May 13th, 2024} by Wink's Intel Pros
VICTORIA L. GROSSMAN, A.K.A. TORI, A.K.A. THE “DECISION DIVA.” Victoria is our Chief Everything Officer as Wink’s President and she was the first employee that Sheryl J. Moore hired to work with her at Wink. She became a member of the Moore family after Sheryl’s then four-year-old son hit on her at her teenage job. […]
I never like these lists
{May 7th, 2024} by Sheryl J. Moore
I never like these lists, simply because the “best” is in the needs, goals, and objectives of the annuity purchaser…yet- Bankrate needs to do better “research” with their list of “Best Annuity Companies.” Allianz Life does not have any annuities that exceed a 10-year surrender charge period. And they offer three different types of deferred […]
WHAT is this based upon?
{May 7th, 2024} by Sheryl J. Moore
“Knowing whether your financial advice is coming from a trusted professional or someone akin to a car salesman may soon become easier.” How do you feel about their analogies? Click HERE to read The Final DOL Fiduciary Rule Has Arrived. Here’s What It Means for Investors via Morningstar Sheesh. Talk about out-of-touch! “According to […]
American Equity buyer announces commitment to Des Moines metro, promotes local exec to CEO
{May 7th, 2024} by Tyler Jett
American Equity Investment Life Holding Co.’s new owner will maintain strong ties in Des Moines, announcing Friday that it is keeping the business’ headquarters in the metro and choosing a long-time local money manager to run it. In a letter to employees, Brookfield Reinsurance Managing Partner Jon Bayer wrote that the company will promote American Equity Chief […]
What are ‘excess return’ indexes?
{May 7th, 2024} by Kerry Pechter
Like many FIA issuers, Ibexis Life uses ‘excess return’ indexes in its product. In the context of FIA indexes, ‘excess return” doesn’t mean ‘out-performance relative to a benchmark’ or ‘alpha.’ It means net performance above the yield of a risk-free asset. Click HERE to read the full story via RIJ
RILAs: Supporting client goals in retirement
{May 7th, 2024} by Susan Rupe
This is the year of “peak 65,” with a record 4.1 million Americans poised to turn 65 in 2024 and every year through 2027. As Americans in this record surge hit retirement age, they and their advisors must navigate four core risks that will impact their retirement portfolios through the decumulation phase: longevity, inflation, volatility […]
The Biggest Threat to Life and Annuity Issuers Is Not the DOL Fiduciary Rule
{May 7th, 2024} by Allison Bell
This is the latest in a series of columns about annuities and retirement planning. Recent ransomware attacks show that passwords and Social Security numbers have stopped working as secure methods of authentication. Life, health and annuity issuers are, obviously, deeply concerned but seem to lack the right, extreme level of panic. While the widely discussed Labor Department […]
Millennials May Be Losing Life Insurance Knowledge
{May 7th, 2024} by Allison Bell
The slump in traditional media and skepticism about social media may be hurting life insurers’ ability to reach millennials. Managers of the latest 2024 Insurance Barometer Study by Life Happens and LIMRA found that, even though the oldest millennials are turning 44 and the youngest are already 28, millennials’ knowledge about life insurance is getting worse. Click […]
S&P 500 Falls 1% at End of Worst Month This Year
{May 7th, 2024} by Rita Nazareth
The stock market got hit after the latest economic data showed a plunge in consumer confidence and persistent wage pressures in the run-up to the Federal Reserve decision. Equities were on track for their worst month since September on speculation the Fed will keep rates unchanged at a two-decade high on Wednesday — with officials […]
Fiduciary Rule Lawsuit? Bring It, DOL Chief Says
{May 7th, 2024} by Melanie Waddell
Acting Labor Secretary Julie Su told House lawmakers Wednesday that Labor’s new fiduciary rule can withstand legal challenges. During a question and answer exchange with Rep. Tim Walberg, R-Mich., during a hearing held by the House Education and the Workforce Committee, Walberg reminded Su that Labor’s 2016 rule was struck down in 2018 by the U.S. […]
Lawsuit Cuts Equitable’s $1.3B Gain on a Universal Life Price Hike
{May 7th, 2024} by Allison Bell
Equitable expects to give up close to half of the $1.3 billion total revenue increase it once hoped to get from a cost-of-insurance charge increase imposed on some holders of the company’s Athene Universal Life II policies. The New York-based life insurer and asset manager noted in its earnings release for the first quarter that the results include […]
New DOL Fiduciary Rule Hit With First Lawsuit
{May 7th, 2024} by Melanie Waddell
The Federation of Americans for Consumer Choice and several independent insurance agents are suing the Labor Department over its new fiduciary rule. The lawsuit, filed Thursday in the U.S. District Court for the Eastern District of Texas, in Tyler, is the first against Labor’s new fiduciary rule, which the department released last week. Click HERE to read the […]
North American Secure Horizon FIA Suite Expands With the New Secure Horizon Accelerator With Immediate Premium Bonus
{May 7th, 2024} by Annexus
SCOTTSDALE, Ariz.,, April 30, 2024 /PRNewswire/ — North American Company for Life and Health Insurance® (North American), a member company of Sammons® Financial Group and one of the largest issuers of fixed index annuities (FIAs) in the U.S.,1 is once again expanding its partnership with Annexus, a leading independent insurance retirement product design and distribution company. Today the two companies […]
Why Annuities Belong In Clients’ Retirement Income Plans
{May 7th, 2024} by Paul R. Samuelson
I drive a Chevy Volt, frequent public transportation and bike to work when the weather allows. I’m conservative in my spending and investing and relatively immune to fads. I won’t be baited into paying extra fees for goods or services when I don’t think they’re worth the cost. So readers may find it surprising […]
How Fixed Annuities Beat Mutual Funds in a DOL Fiduciary Rule Asset Table By Allison Bell
{May 6th, 2024} by Allison Bell
Labor Department regulation analysts recently shocked the U.S. fixed annuity community. The department set tough new retirement account rollover advice fiduciary standard requirements. The department also reported that, as of 2022, 10-year asset growth had been 6% for fixed annuities, 3% for variable annuities and just 2.9% for mutual funds. Stocks ranked first, with 10-year asset growth of […]
Trump-appointed judge will hear lawsuit against DOL fiduciary rule
{May 6th, 2024} by John Hilton
Judge Jeremy D. Kernodle, a Trump appointee, will hear the first lawsuit to the Department of Labor’s fiduciary rule. Assigned Friday to hear the lawsuit filed by the Federation of Americans for Consumer Choice, Kernodle has a staunch limited-government conservative background. FACC is joined by several independent insurance agents in the lawsuit filed Thursday in the Eastern […]
Athene, honored again by United Way’s, sets a high bar in community involvement, philanthropy
{May 6th, 2024} by Carol Hunter
For the fourth year in a row, United Way has honored Athene with its Spirit of Central Iowa award, further cementing the retirement services company’s status as a corporate leader in community involvement and philanthropy. West Des Moines-based Athene is a relative newcomer to the metro; its purchase of Aviva USA closed in October 2013. […]
Prospective Everton buyer faces new troubles on two fronts
{May 6th, 2024} by Kenneth Araullo
Concerns have been raised by AM Best regarding the quality of assets held by the reinsurer, prompting A-Cap to reclaim assets previously ceded to 777 Re through reinsurance transactions. This action follows regulatory pressure to lessen their exposure to the investment firm. In their legal filing, the insurers argue that AM Best’s impending rating downgrade […]
Equitable Holdings Reports First Quarter 2024 Results
{May 6th, 2024} 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 first quarter ended March 31, 2024. “We reported non-GAAP operating earnings of $1.43 per share, up 49% compared to the prior year quarter. After adjusting for notable items in both periods, non-GAAP EPS rose 18%. Strong […]
Lincoln Financial Group Completes Sale of Wealth Management Business to Osaic, Inc.
{May 6th, 2024} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today announced that it has completed the sale of its wealth management business, including all ownership interests in the Lincoln subsidiary entities comprising that business, to Osaic, Inc. (Osaic), one of the nation’s largest providers of wealth management solutions. The sale provides Lincoln with approximately $650 million of […]
Prudential Financial, Inc. Announces First Quarter 2024 Results
{May 6th, 2024} by Prudential
NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) today reported first quarter results. Net income attributable to Prudential Financial, Inc. was $1.138 billion ($3.12 per Common share) for the first quarter of 2024, compared to $1.462 billion ($3.93 per Common share) for the first quarter of 2023. After-tax adjusted operating income was $1.141 billion ($3.12 per Common share) […]
Brookfield Reinsurance and AEL Announce Expected Closing Date for Brookfield Reinsurance’s Acquisition of AEL
{May 6th, 2024} by Brookfield Reinsurance
WEST DES MOINES, Iowa–(BUSINESS WIRE)–Brookfield Reinsurance (NYSE, TSX: BNRE) and American Equity Investment Life Holding Company (NYSE: AEL) (“AEL”) today announced that the previously announced acquisition of AEL by Brookfield Reinsurance is expected to close following the close of market on May 2, 2024. About AEL At American Equity Investment Life Holding Company, our policyholders […]
Global Atlantic 2024 Retirement Outlook Survey: Retirement Age Investors Value Asset Protection Over Growth
{May 6th, 2024} by Global Atlantic Financial Group
NEW YORK–(BUSINESS WIRE)–While U.S. markets rebounded in 2023, retirement age investors are still prioritizing strategies for generating reliable retirement income and protecting their nest eggs against volatility, according to the Global Atlantic 2024 Retirement Outlook Survey, a new study from Global Atlantic Financial Group (“Global Atlantic”). Nearly two-thirds (61%) of respondents would rather protect their assets than try to […]
Pacific Life Enhances Suite of Annuities to Address Retirement Income Needs
{May 6th, 2024} by Pacific Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–To continue serving consumers’ varying retirement-income needs, Pacific Life recently enhanced the features of three of its optional benefits, available with certain advisory and traditional variable annuities for an additional cost. Designed for growth and protection, these strategies offer clients the flexibility to protect their money or withdraw income in retirement. […]
Lincoln Financial Group Reports 2024 First Quarter Results
{May 6th, 2024} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported financial results for the first quarter ended March 31, 2024. Net income available to common stockholders was $1.2 billion, or $6.93 per diluted share. Adjusted operating income available to common stockholders was $71 million, or $0.41 per diluted share. Adjusted operating income available to stockholders was […]
Corebridge Financial Announces First Quarter 2024 Results
{May 6th, 2024} by Corebridge Financial, Inc
HOUSTON-(BUSINESS WIRE)–Corebridge Financial, Inc. (“Corebridge” or the “Company”) (NYSE: CRBG) today reported financial results for the first quarter ended March 31, 2024. Kevin Hogan, President and Chief Executive Officer of Corebridge, said, “Corebridge had a very strong start to 2024 with operating earnings per share increasing 13% year over year to $1.10. These results demonstrate […]
What will the DOL rule mean for advisors?
{May 6th, 2024} by Susan Rupe
The Department of Labor has several objectives in issuing its latest iteration of the fiduciary rule and one of them is expanding the scope of fiduciary activities, a Washington attorney said. The National Association of Insurance and Financial Advisors gave a breakdown of how the fiduciary rule will impact advisors and consumers during a recent […]
Revol One Financial retools with new annuity products, big goals
{May 6th, 2024} by John Hilton
There are a lot of insurance companies in the annuity sales game. But the new regime at Revol One Financial say they have a strategy to dent the leaderboard: speed and customer service. Click HERE to read the full story via INN Article excerpt: Revol One generated some industry buzz with its announcement, […]
Apollo Accused in Lawsuit of Illegal Human Life Wagering Scheme
{May 6th, 2024} by Mike Leonard
(Bloomberg Law) — Apollo Global Management Inc. bet on the longevity of senior citizens by acquiring illegal life insurance policies and funneling the payouts through shell entities, according to a new lawsuit. The private giant allegedly set up a web of sham trusts—using a secretive affiliate called Financial Credit Investment—to hold a portfolio of stranger-originated […]
Here Come the Suits
{May 6th, 2024} by Kerry Pechter
Close observers of the ‘Bermuda Triangle’ strategy weren’t surprised when class action lawsuits were filed against AT&T, State Street Global Advisors and Lockheed Market for their choice of Athene Annuity and Life as the annuity provider in a pension risk transfer deal. RIJ articles about Athene’s use of the strategy were cited in two of […]
For Ibexis Life, Cayman Outshines Bermuda
{May 6th, 2024} by Kerry Pechter
This Missouri-domiciled life insurer epitomizes the asset-manager-driven life/annuity companies that have been disrupting the U.S. life/annuity business since 2010 or so. In its first year selling fixed indexed annuities, it sold $453 million worth. Click HERE to read the full story via RIJ
The DOL Should Challenge the Fifth Circuit’s Opinion
{May 6th, 2024} by Kerry Pechter
Back in 2018, the Fifth Circuit U.S. Court of Appeals sided with the American Council of Life Insurers (ACLI) and the U.S. Chamber of Commerce to quash the Department of Labor’s proposed “fiduciary rule,” which could have hindered the sales of annuities to IRA owners. Last week, the DOL issued a new but similar rule. […]
‘I’ll die broke, with nothing.’ I’m 86, only get $398 a month from my annuity and am being denied access to my $1 million in investments. Who can help me?
{May 6th, 2024} by Alisa Wolfson
Question: I’m 86 years old and have $250,000 in my account and $1 million in investments. But I get nothing from my 401(k) as my account is locked and I am only receiving $398 from my annuity. I’ve called the financial services firm and fought with them about this, but their expectations of me are ridiculously […]
Insurers told to pull $1.8 billion out of Premier League team Everton bidder
{May 6th, 2024} by Matthew Sellers
In a further blow to the group that is hoping to buy troubled English Premier League team Everton, state authorities in Utah and South Carolina are pressing five insurance companies to decrease their financial stakes in the Miami-based investment firm 777 Partners. The news broke following the exposé of a confidential memo accessed by the […]
Gruening Health and Wealth Combines with Integrity to Expand Support and Services for Senior Market
{May 6th, 2024} by Integrity Marketing Group, LLC
DALLAS , April 30, 2024 /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 partnered with Gruening Health and Wealth, an independent marketing organization based in Springfield, Illinois and led by Chase Gruening. Financial details of the partnership were not disclosed. As a […]
Bend Don’t Break: Flexibility In Estate Planning With Index Universal Life Insurance
{May 6th, 2024} by Sean Brady
Greek philosopher Heraclitus famously captured the dynamic nature of life in his brilliant yet simple quote, “The only constant in life is change.” With the inevitable life changes we will all face, creating an estate plan to determine one’s future legacy can seem daunting, but that does not diminish the need for it. At its core, estate […]
Finseca
{May 6th, 2024} by Broker World
Finseca is pleased to announce that Anthony T. Mazzei, Sr., chairman and founding partner at National Financial Network, an agency of The Guardian Life Insurance Company of America (Guardian), will be honored with the prestigious Finseca Hall of Fame Award at the Leaders and Managers Program (LAMP) 2024 in Denver, CO. Mazzei, along with just two […]
Swiss Re
{May 6th, 2024} by Broker World
Swiss Re launches an augmented version of its Life & Health underwriting manual Life Guide. The new version comes equipped with Swiss Re Life Guide Scout, a Generative AI-powered underwriting assistant, developed by Swiss Re, that integrates Microsoft Azure OpenAI Service. Swiss Re Life Guide Scout aims to help increase the efficiency and quality of […]
Life Insurers as LEGO Monsters
{May 6th, 2024} by Kerry Pechter
Michael Gordon, CEO of Axonic Insurance, part of Axonic Capital, sees the future of the life/annuity/asset-management business as an increasingly a la carte affair, where the components of the business are like interchangeable Lego blocks and where platform providers help clients snap them together. Click HERE to read the full story via RIJ
Apollo’s Q1 earnings jump 26% on management fees, annuities inflow
{May 6th, 2024} by Chibuike Oguh
NEW YORK, May 2 (Reuters) – Apollo Global Management (APO.N), opens new tab said on Thursday its first-quarter adjusted net income rose 26% year-on-year, driven mostly by growth in management fees as well as earnings from its flagship annuities business. Adjust net income rose to $1.1 billion, up from $825 million a year earlier. That translated to […]
