Happy 4th of July!
{July 3rd, 2024} by Wink's Intel Pros
Wink will be closed July 4th and 5th for an extended holiday.
The Bermuda Triangle’s 1980s Roots
{July 3rd, 2024} by Kerry Pechter
The resemblances between today’s Bermuda Triangle strategy and the business model that Executive Life used in the years leading up to its record-breaking bankruptcy in 1991 are too many and too striking to be chalked up to coincidence, confirmation bias, or hindsight. Click HERE to read the full story via RIJ
SEC finalizes rule altering registration of index-linked annuities
{July 3rd, 2024} by Courtney Degen
The SEC finalized a rule that will create a tailored registration form for registered index-linked annuities, or RILAs. “Sales of RILAs reached approximately $47.4 billion in 2023 alone, more than quintupling since 2017,” SEC Chair Gary Gensler said in a news release July 1. “It is important that investors receive the information they need — […]
Bermuda Shorts
{July 3rd, 2024} by Kerry Pechter
Nassau Financial gets $200 million from Golub Capital; AM Best affirms ratings of Aspida Group, backed by Ares Mgt; 3M swaps its $2.5bn DB pension for a MetLife group annuity; Bermuda-based Apex Group sells $1.1 bn of payment-in-kind notes to Carlyle and Goldman Sachs; Oceanview establishes reinsurer in Cayman Islands; Bermuda Triangle insurer receives ‘negative’ […]
Offshore Regulatory Arbitrage by US Insurers Explained
{July 3rd, 2024} by Kerry Pechter
“Regulatory arbitrage” has been cited by RIJ and others as a reason for the use of Bermuda reinsurance private equity-led U.S. life/annuity companies. But what does that jargonish expression mean in this context? Indeed, it would take an expert in international accounting rules to explain it accurately. https://retirementincomejournal.com/article/bermuda-triangle-arbitrage-explained-by-moodys/
SEC to Let Insurers Register RILAs on a Simpler Form
{July 3rd, 2024} by Allison Bell
The U.S. Securities and Exchange Commission has adopted a final rule that will let annuity issuers register market-value-adjusted and registered index-linked annuities on a much simpler form. The new SEC rule means that issuers of RILAs and MVA contracts can create new products using the same relatively short SEC Form N-4 that issuers of traditional variable annuities typically […]
Pru, TIAA, State Street Put $5M in 401(k) Plan Annuity Tech Firm
{July 3rd, 2024} by Allison Bell
Micruity is moving ahead with efforts to build a new nervous system for retirement services providers with new backing from some giant financial firms. The company has raised an additional $5 million to expand support for annuities and other income planning tools to its Micruity Advanced Routing System, it announced Tuesday. Click HERE to read the […]
Finseca: Keep Your Budget Cool This Summer – Tips for Financial Security
{July 3rd, 2024} by Finseca
WASHINGTON, July 2, 2024 /PRNewswire/ — Summer is heating up, but that doesn’t mean your budget has to. With exciting activities and outdoor festivities come extra expenses that might catch you off guard. Summer is often the second most expensive season, primarily due to increased vacation and travel costs. However, with a bit of foresight, you can enjoy […]
Royal Neighbors of America® reports a record $31.2 million in social good impact for communities
{July 3rd, 2024} by Royal Neighbors of America
ROCK ISLAND, Ill., June 27, 2024 /PRNewswire/ — Royal Neighbors of America, a nonprofit life insurance organization has reported a record $31.2 million in Social Good impact. This achievement exemplifies Royal Neighbors’ commitment to providing Insurance with a Difference℠ as they continue to prioritize their mission of Insuring Lives, Supporting Women, and Serving Communities℠. The organization assesses its social impact each year by measuring […]
Lincoln Financial Group to Report 2024 Second Quarter Results on August 1
{July 3rd, 2024} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE:LNC) announced today that it will report its results for the second quarter ended June 30, 2024 at 6:00 a.m. Eastern Time on Thursday, August 1, 2024. A conference call is scheduled for 8:00 a.m. Eastern Time on the same day. Earnings materials, including the 2024 second quarter Earnings Release, […]
Jackson to Report Second Quarter 2024 Financial Results
{July 3rd, 2024} by Jackson National Life Insurance Company
LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc.1 (NYSE: JXN) (Jackson®) will announce financial results for the second quarter ended June 30, 2024, after market close Wednesday, August 7, 2024. Jackson’s press release and supplemental financial materials will be available at investors.jackson.com. Jackson will host a conference call and webcast Thursday, August 8, 2024, at 10 a.m. ET to review […]
3 reasons for RILAs’ growing popularity
{July 3rd, 2024} by Susan Rupe
Since they entered the marketplace in 2010, registered index-linked annuities have become the fastest growing category of annuities. RILA sales surpassed variable annuity sales for the first time in the fourth quarter of 2023, LIMRA reported. Momentum for RILAs is expected to grow, given that RILAs provide investors with a level of protection coupled with […]
Oceanview Expands Global Reinsurance Operations with New Cayman Islands Subsidiary, Oceanview Secure Reinsurance Ltd., offering Global Reach and Tailored Solutions
{July 3rd, 2024} by Oceanview Holdings, Ltd
GRAND CAYMAN, Cayman Islands–(BUSINESS WIRE)–Oceanview Holdings Ltd. (Oceanview), a prominent provider of annuities and reinsurance solutions, today announced the establishment of its new subsidiary, Oceanview Secure Reinsurance Ltd., in the Cayman Islands. This strategic expansion strengthens Oceanview’s ability to deliver innovative reinsurance solutions globally. Oceanview Secure Reinsurance Ltd. has been awarded a Class D Insurer’s […]
Making the most of National Insurance Awareness Day
{July 3rd, 2024} by Ayo Mseka
Friday, June 28, is National Insurance Awareness Day, when agents and advisors can remind their clients and prospects about the numerous benefits of insurance, share information about the many insurance solutions available, and promote a culture of preparing for many of life’s uncertainties. “The relationships that agents are able to build with their clients are […]
Insurers, A.M. Best reach preliminary settlement in financial ratings case
{July 3rd, 2024} by Doug Bailey
The parties in a case accusing the credit rating agency A.M. Best of unfairly downgrading a pair of life insurers have reached a preliminary settlement, according to a letter filed with the court. Atlantic Coast Life Insurance and Sentinel Security Life Insurance want to stop A.M. Best from downgrading their financial strength ratings, which would […]
Experts warn insurance industry to buckle up for AI regulation, litigation
{July 3rd, 2024} by Rayne Morgan
With litigation related to the use of artificial intelligence expected to increase, industry experts are strongly recommending American insurance companies to prepare themselves before that reality takes hold. “Given our litigious society, it’s just a fact of life that, as an insurance company, if you’re going to be using AI, you’re going to be, unfortunately, […]
401(k) Annuities Still A Hard Sell Despite SECURE Act, Advisors Say
{July 3rd, 2024} by Ben Mattlin
In 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act made it easier for defined-contribution retirement plans such as 401(k)s to offer annuities. Nearly five years later, though, the results are mixed, according to advisors. “We are still not seeing much adoption,” said Wei Hu at Edelman Financial Engines in Santa Clara, Calif. […]
I don’t believe in investing in anything I don’t understand.
{July 3rd, 2024} by Sheryl J. Moore
I just watched “Dumb Money,” at the prompting of one of my followers. I have to be honest with you. I have never purchased stocks. Why? I don’t believe in investing in anything I don’t understand. Now, don’t get me wrong- I am diversified. I have other investments with equity exposure. But this movie has […]
Imagine giving your clients PEACE OF MIND!
{July 3rd, 2024} by Sheryl J. Moore
My friend Michael Finke indicates that those with annuities spend more freely than those without. Imagine giving your clients PEACE OF MIND! Click HERE to check out his latest post which begins with”Will a retiree with $500,000 in a savings account spend as much as a retiree who has a $35,000 pension? Our findings were […]
Finra bars two ex-Raymond James advisors who sold unapproved products
{July 3rd, 2024} by Bruce Kelly
Two Raymond James Financial Services Inc. financial advisors on Monday were barred from the securities industry for not cooperating in investigations, according to the Financial Industry Regulatory Authority Inc.; both had previously been flagged by Raymond James for selling products to customers the firm had not signed off on as well as selling away, which involves […]
I Called Dave Ramsey About 8% – Dave’s Rant EXPLODES!
{July 3rd, 2024} by HopeFilled Financial Coaching
This is my reaction to the call I made to the Ramsey Show Live on November 2nd, 2023. This is the call that broke X (Twitter) with over 4M Views. This isn’t near all the context that you will want to know about. A lot happened leading up to this call. Subscribe if you don’t […]
Suze Orman Says Indexed Universal Life Insurance Is a ‘Horrific’ Investment That Will Get You In Trouble — ‘I Am Begging You Not To Do Them’
{July 3rd, 2024} by Jeannine Mancini
Financial guru Suze Orman has consistently and emphatically cautioned against indexed universal life insurance (IUL) policies, characterizing them as “horrific” and fraught with potential financial pitfalls. Click HERE to read the full story via Yahoo! Finance Wink’s Moore on the Market: Suze Orman has her sights set on indexed life now. Reading this, I am in […]
SIFMA, FSI Join Suit to Strike Down DOL Fiduciary Rule
{July 3rd, 2024} by Melanie Waddell
The Securities Industry and Financial Markets Association along with the Financial Services Institute filed a complaint Friday against the Labor Department’s new fiduciary rule, asking the U.S. District Court for the Northern District of Texas court to vacate the rule. SIFMA and FSI have joined via a plaintiff-intervenors’ complaint the suit filed on May 24 by nine insurance industry trade […]
Statement on the Registration for Index-Linked Annuities and Registered Market-Value Adjustment Annuities
{July 3rd, 2024} by Commissioner Mark T. Uyeda
July 1, 2024 While the universe of securities is broad, the Securities Act of 1933 (“Securities Act”) generally requires that any offer or sale of a security to the public be registered with the Commission. For that reason, the Commission should take steps to ensure that registration statement disclosure is material and informative to prospective […]
RILA Re-Form: Statement on Registration for Index-Linked Annuities and Registered Market-Value Adjustment Annuities; Amendments to Form N-4 for Index-Linked Annuities, Registered Market-Value Adjustment Annuities, and Variable Annuities
{July 3rd, 2024} by Commissioner Hester M. Peirce
July 1, 2024 In the last few years, the Commission’s staff has often had to complete rulemakings on tight deadlines. Even with aggressive time constraints, the staff succeeded admirably in meeting the congressional mandate to provide a tailored form to register the offerings of registered index-linked annuities (“RILAs”). [1] I support the Commission’s general approach to implementing […]
Statement on RILAs and Registered MVA Annuities
{July 3rd, 2024} by Chair Gary Gensler
July 1, 2024 Today, the Commission adopted amendments to provide a tailored form to register the offerings of registered index-linked annuities (“RILAs”) and registered market value adjustment annuities (“registered MVA annuities”). I am pleased to support this adoption because it fulfills the congressional mandate to adopt a registration form specific to RILAs. RILAs are a […]
Calamos Structured ETFs: An alternative to FIAs
{July 3rd, 2024} by Kerry Pechter
There are non-insurance alternatives to fixed indexed annuities (FIAs) as savings vehicles For cautious who want to eliminate all risk of investment loss on part of their portfolio but fear “missing-out” on a stock market rally, there’s a non-insurance solution. Click HERE to read the full story via RIJ Wink’s Moore on the Market: […]
DOL Lets Pension Risk Transfer Rules Stand – For Now
{July 3rd, 2024} by Kerry Pechter
The Department of Labor has decided not to shake up the regulatory foundation of the “pension risk transfer” (PRT) business—the replacement of defined benefit pensions by group annuities issued by life insurers—by amending its 30-year-old Interpretative Bulletin 95-1. Click HERE to read the full story via RIJ
What Recordkeepers Think about 401(k) Annuities
{July 3rd, 2024} by Kerry Pechter
When we talk or write about embedding payout options in 401(k) plans—annuities, systematic withdrawal processes, etc.—the role of recordkeepers doesn’t always get as much attention as the roles of plan sponsors, plan advisers, life/annuity companies, asset managers or participants. Click HERE to read the full story via RIJ
These 10 Variable Annuity Carriers Watched $61B Flee Their Products Last Year
{July 3rd, 2024} by Warren S. Hersch
Variable annuity carriers that have developed RILAs are “okay with a shift in sales mix to these products,” Wink CEO Sheryl Moore speculated, “given that most of them do not have living benefits riders on them, which are more difficult to price for.” Click HERE to read the full story via Life Annuity Specialist
RILAs take off as consumers look for balance, protection
{July 3rd, 2024} by Teodor Panaitisor
As more Americans retire without the backstop of a pension, the individual annuity market is stepping up to provide the ability to layer on protection and security to an investor’s portfolio. Registered index-linked annuities were first introduced in 2010 following the financial crisis of 2008-2009. However, RILA sales didn’t really take off until more than […]
Morningstar Investment Conference 2024: From AI Investing to Annuities
{July 3rd, 2024} by Laura Lallos
Summer in Chicago means excursions to Navy Pier for boat tours, outdoor dining, and rides on the iconic Ferris wheel—and this year, the annual Morningstar Investment Conference on June 26 and 27, 2024. Each year, investors and advisors head to Chicago for Morningstar’s signature research and analysis, as well as insights from thought leaders across the industry. […]
SEC updates annuity disclosure rules for RILAs, MVAs
{July 3rd, 2024} by Leo Alamazora
The SEC has unveiled new disclosure requirements and registration processes for registered index-linked annuities and registered market value adjustment annuities as it hopes to provide investors with clearer and more specific information about the products. Click HERE to read the full story via InvestmentNews
20 insurers with the largest annuity market share
{July 3rd, 2024} by Digital Insurance Staff
The top five insurance companies in the ranking have an average annuity market share of 5.82% as of December 31, 2023. The combined direct premiums written by the top five were more than $145 billion. Scroll through to see which insurance companies are in the top 20 and how they fared through the end of December 2023. Source: National Association of Insurance […]
