Annuity sales ignore all disruptions in another strong quarter, Wink finds
{August 27th, 2024} by Staff Reports
Annuity sales paid no heed to regulatory pressure in the second quarter. Sales were not stunted by impending interest rate cuts. Not even the summer doldrums prevented a nearly 4% increase in Q2 sales, Wink, Inc. reported. Sales for all annuities were $109.6 billion when compared to the previous quarter, according to Wink’s Sales & Market Report. […]
Annuities post $109B sales record in Q2 as deferred annuities surge
{August 27th, 2024} by Leo Alamazora
Indexed and structured products logged robust double-digit growth as fixed-rate annuities face challenges from declining rates, says new report. Annuity sales saw modest growth in the second quarter of 2024, rising nearly 4 percent from the previous quarter, according to a new report from market research firm Wink. Click HERE to read the full […]
Nassau Latest to Offer High Premium Bonus on New Fixed-Indexed Annuity
{August 27th, 2024} by Cyril Tuohy
“There is definitely more focus on developing bonus indexed annuities this year,” said Sheryl Moore, CEO of life and annuity market researcher Wink, publisher of Wink’s Sales & Market Report. “The favorable interest rate environment has resulted in many consumers doing rollovers and exchanges into new annuities.” Moore said that a premium bonus is often the best […]
New DALBAR Report Unveils How Variable Annuity Investor Returns Outpaced Average Mutual Fund Investor Returns in 2023
{August 27th, 2024} by DALBAR
MARLBOROUGH, Mass.–(BUSINESS WIRE)–DALBAR, Inc., is pleased to announce the release of its latest edition of the nation’s leading study on investor behavior, Quantitative Analysis of Investor Behavior Variable Annuities (QAIB-VA). The report, an updated version of the highly regarded annual study, provides an in-depth analysis of investor behavior and its impact on returns within variable […]
U.S. Life Application Activity Soars
{August 27th, 2024} by Allison Bell
Older high-net-worth clients might be starting to pay more attention to the estate tax exemption possibly falling from $27.22 million today to about half that on Jan. 1, 2026. For U.S. residents 71 and older, individual life insurance application activity was about 19% higher in July than it was in July 2023, according to MIB. Click HERE to read […]
Solving the Decumulation Dilemma
{August 27th, 2024} by David Blanchett
As the wave of retirees swells, with an average of 11,000 Americans turning 65 each day and an anticipated 30% surge in the senior population by 2030 , the urgency for retirement income solutions intensifies. Amid this demographic shift, managed accounts have also witnessed explosive growth in recent years. Click HERE to read the full story via […]
AM Best Removes From Under Review and Downgrades Credit Ratings of National Western Life Group, Inc. and Most of Its Subsidiaries
{August 27th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has removed from under review with negative implications and downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” (Excellent) from “a” (Excellent) of National Western Life Insurance Company (NWLIC) (Centennial, CO). Concurrently, AM Best has removed from under review […]
As Generation X Approaches Retirement, Reality Still Bites
{August 27th, 2024} by Hannah Miao
The oldest members of Gen X are turning 60 next year. Many can’t afford to stop working any time soon. Born between 1965 and 1980, Gen Xers launched their careers at the start of a massive shift in how Americans work. Companies moved from pensions that promise steady income after years of service, to plans […]
Powell Says ‘Time Has Come’ for Fed to Cut Interest Rates
{August 27th, 2024} by Amara Omeokwe and Jonnelle Marte
Chairman Jerome Powell said the time has come for the Federal Reserve to cut its key policy rate, affirming expectations that officials will begin lowering borrowing costs next month and making clear his intention to prevent further cooling in the labor market. “The time has come for policy to adjust,” Powell said Friday in the […]
Gender gap remains wide when it comes to retirement savings
{August 27th, 2024} by Gregg Greenberg
Women still trail men when it comes to financial security by a sizable margin, according to a Prudential survey. Click HERE to read the full story via InvestmentNews Click HERE to view 2024 Pulse of the American Retiree Survey: Midlife Retirement ‘Crisis’ or a 10-Year Opportunity? Wink’s Moore on the Market: When it comes […]
Annuity integration initiative could help advisors build ‘superior client engagement’
{August 27th, 2024} by Rayne Morgan
Financial advisors could soon benefit from simpler integration of annuities in their professional tools if the Insured Retirement Institute is successful in its bid to develop a new digital, standardized infrastructure. IRI’s Digital First for Annuities is an industry-wide annuity integration initiative that aims to introduce a single, consistent source of product data and new […]
Independent distribution: How it’s changing the industry
{August 27th, 2024} by Susan Rupe
As the number of independent advisors has grown, the influence of intermediaries has grown as well. LIMRA’s 2023 U.S. Individual Sales Survey showed that 53% of all life insurance sales were done through the independent channel. Meanwhile, independent marketing organizations and brokerage general agencies have seen their business surge as well. Click HERE to read […]
Will life insurance be the next product to go ‘green’?
{August 27th, 2024} by Susan Rupe
With so much consumer interest in healthy living and sustainability, will the life insurance industry begin to offer “green” life insurance? A panel of researchers gave their views during a recent Society of Insurance Research educational session. Studies have found a link between reduced carbon footprint activity and improved mortality risk, said Matt Berkley, director […]
The insurance industry’s best-kept $5B secret — With TruStage’s Terrance Williams
{August 27th, 2024} by Paul Feldman
The name “TruStage,” said its president and CEO, Terrance Williams, “is meant to represent trust at every life stage. If that’s our brand and what it means to be TruStage, we’ve got to live up to that by ensuring that we are catering to these individual consumers at all their various life stages.” TruStage distributes its products through credit […]
Life and Annuity Distributor Starts Agent Rights Petition
{August 27th, 2024} by Allison Bell
The head of a life and annuity field marketing organization wants to make it easier for agents to switch from one distributor to another. Brett Blake, the chief executive officer of Annuity.com, has started a Change.org petition that calls for FMOs and other distributors, such as independent marketing organizations, to provide agents with contract release forms upon request. Click […]
All States Should Offer Online Life Agent Exams, Industry Groups Say
{August 27th, 2024} by Allison Bell
All states should offer online exams for would-be life All states should offer online exams for would-be life insurance and annuity agents and brokers, to help all kinds of individuals join the industry, insurer and producer groups told state insurance regulators Tuesday. The number of states offering online testing increased to 46 in 2023, from […]
Best’s Market Segment Report: Life/Annuity Reinsurers Face Growing Competition as Conditions Improve
{August 27th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–Although higher interest rates and more favorable mortality trends have led to improved conditions for life/annuity reinsurance companies, it also has created more competition, with some backed by alternative investment managers or large private equity firms, according to a new AM Best report. The Best’s Market Segment Report, “Life/Annuity Reinsurers Face Growing Competition as Conditions Improve,” […]
GLWB utilization behavior impacted by SECURE Act, recent Milliman Variable Annuity Industry Experience Studies show
{August 27th, 2024} by Milliman, Inc.
SEATTLE–(BUSINESS WIRE)–Milliman, Inc., a premier global consulting and actuarial firm, today announced the results of its two 2024 Variable Annuity Industry Experience Studies, which analyze policyholder behavior across 22 companies spanning 16 years. The studies cover surrender behavior and partial withdrawals, focusing on income utilization for guaranteed lifetime withdrawal benefit (GLWB) riders. Access to industry […]
The Labor Department won’t let go of the harmful, illegal fiduciary rule
{August 27th, 2024} by Mario H. Lopez
Retirement savings are a constant concern for Americans navigating challenging economic times. Americans desperately need increased access and options for savings and investments. Instead, far too many policymakers are promoting legally dubious policies that are proven failures. Perhaps the best example is the approach taken by Department of Labor bureaucrats, who are dogmatic in their […]
Finseca responds to Washington Post article on fiduciary rule
{August 27th, 2024} by Finseca Flash
Letter to the Editor Submission At this point, one has to believe the Department of Labor (DOL) walls are covered with posters that read, “If at first you don’t succeed, try, try again.” Facts, data, and the law be damned: the DOL is on a mission to purportedly “protect” consumers, after all. Regarding Tony […]
Filling the middle-market life insurance gap in America
{August 27th, 2024} by Kevin Cummer, TruStage
Life insurance is a crucial aspect of financial planning, providing a safety net for individuals and their loved ones. In recent years, the mid-market segment has gained prominence in the life insurance industry, showcasing its scalability potential. The mid-market consumer refers to households or individuals who fall into the $50,000 to $200,000 income bracket. These […]
Wink, Inc. Releases 2nd Quarter, 2024 Annuity Sales Results
{August 23rd, 2024} by Wink's Press Release
— FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE Indexed and Structured Annuity Sales Set Records! Wink, Inc. Releases 2nd Quarter, 2024 Annuity Sales Results Des Moines, Iowa. August 22, 2024– Wink’s Sales & Market Report, the insurance industry’s #1 resource for annuity sales data since 1998, released its 108th edition report […]
Second Quarter 2024 Annuity Sales
{August 23rd, 2024} by Sheryl J. Moore
All Annuity Sales Total 2Q2024 all annuity sales $109,621 million. Second quarter annuity sales were up nearly 4% when compared to the previous quarter. Given that this is the second quarter that Wink has collected data on income annuity sales, additional comparisons will be available in future quarters. Deferred Annuity Sales Total 2Q2024 deferred […]
Annuity Sales % change
{August 23rd, 2024} by Sheryl J. Moore
Annuity sales for 2Q2024 Line of Business: Sales- % Chng/Qtr and % Chng/Last Yr ALL ANNUITIES: $109.62 B- 3.71% and N/A (just began tracking SPIAs/DIAs) – All Deferred Annuities: $104.66 B- 4.11% and 31.26% — Non-Variable Deferred Annuities: $73.68 B- 0.34% and 31.27% — Multi-Year Guaranteed Annuities: $41.03 B- -6.27% and 34.71% — Fixed Annuities […]
The Standard webinar with Sheryl Moore
{August 23rd, 2024} by The Standard
Sheryl J. Moore will join Paul Garofoli of The Standard to talk about her firsthand experience using indexed annuities to save for retirement.
Traditional Variable Annuities Join the Sales Party
{August 23rd, 2024} by Allison Bell
Demand for annuities was so strong in the second quarter that sales of traditional variable annuities climbed to $16.5 billion, up 20% from the total recorded in the second quarter of 2023, according to new issuer survey data from Wink. [Structured (aka RILA)] annuities were the annuities with the strongest second-quarter performance: Their sales increased […]
Annuities post $109B sales record in Q2 as deferred annuities surge
{August 23rd, 2024} by Leo Alamazora
Indexed and structured products logged robust double-digit growth as fixed-rate annuities face challenges from declining rates, says new report. Click HERE to read the full story via InvestmentNews
Here’s When Many Americans ‘Really’ Plan to Retire
{August 23rd, 2024} by John Manganaro
Nearly half of consumers (47%) polled by Equitable believe it is unrealistic for them to retire before or at the traditional retirement age of 65. Instead, the survey results show they expect to retire nearly a decade later, at an average age of 74. This is despite only 18% of workers saying that they want […]
Prudential Financial launches Momentum IUL, a new life insurance product with power to adapt to life’s changes
{August 23rd, 2024} by Prudential Financial, Inc.
NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc., has launched Prudential Momentum IUL℠, a new indexed universal life product issued by Pruco Life Insurance Company and Pruco Life Insurance Company of New Jersey (in NY) that provides the financial resiliency in growth and protection that customers need to withstand changing life events. “Prudential is committed to providing our customers […]
Episode 2 Annuities & More with Sheryl Moore
{August 23rd, 2024} by CBS Brokerage
Annuities are back in the spotlight as we approach the September Federal Reserve decision on interest rates. Sheryl J. Moore, CEO of Wink, Inc.. and Moore Market Intelligence, recently joined our CBS Spotlight podcast and spoke with our hosts Michael Kohrmann, CLTC® and Eric Alvarado about the annuities space. This is a must-listen episode for […]
Interviewing Top Expert, Sheryl J. Moore
{August 23rd, 2024} by Brad Pistole
Have you read Sheryl J. Moore’s new book, “Why I Bought Indexed Annuities?” It’s a MUST read! Watch this interview with the ANNUITY GURU and order your copies today! Sheryl Moore, author of ‘Why I Bought Indexed Annuities’, discusses the benefits and misconceptions surrounding indexed annuities. She explains that indexed annuities guarantee a monthly paycheck […]
Retirees Should Run Away From These So-Called ‘Investments’
{August 23rd, 2024} by Austin Smith
Lee and Doug discuss the pros and cons of annuities, particularly as a financial product targeted at retirees. They note that while annuities offer a degree of safety, being insurance products with state and corporate guarantees, they often come with high fees and commissions, making them more beneficial for the broker than the investor. They […]
More Annuity Owners Are Buying Their Contracts From Issuers
{August 23rd, 2024} by Allison Bell
For financial planners and life insurance agents, more competition in the annuity sales market may be coming from the insurers writing the annuities. A research team working for Nationwide Annuity maps annuity shopping paths in a new summary of results from a survey of 300 U.S. planner or advisor clients who own individual annuities. Click HERE […]
I don’t say it often, but this is truly innovative
{August 23rd, 2024} by Sheryl J. Moore
So pleased to see that my buddy Bruce Donaldson and the tremendous crew at Simplicity Group have exclusive access to an indexed annuity now! I don’t get to say this often, but this annuity has a TRULY INNOVATIVE indexed crediting mechanism in their “Gain Control Option.” Interested? Check it out at Wink, Inc.’s AnnuitySpecs tool. -sjm
AuguStar rounds out product lineup with new IUL
{August 23rd, 2024} by John Hilton
AuguStar Life continues to round out its product lineup with a new indexed universal life offering. AuguStar launched Virtus Protection Indexed Universal Life Insurance earlier this month. The insurer is marketing the product as “protection-forward coverage with accumulation potential.” AuguStar Life and AuguStar Retirement are Constellation Insurance companies. Click HERE to read the full story […]
Next president might control fate of DOL fiduciary rule, analysts say
{August 23rd, 2024} by John Hilton
The race for the White House is heating up, with Donald Trump and Kamala Harris trading soundbites on hot-button issues from immigration to taxes to the economy in general. Another issue that likely won’t make any of the seemingly endless hours of political commercials to come before Nov. 5, but an issue whose fate likely […]
Lawsuit revived for man who lost $16M in life policies on a missed payment
{August 23rd, 2024} by John Hilton
A federal appeals court gave a partial win to a Connecticut man claiming that AXA Equitable allowed his life insurance policies to lapse without any payment reminder. The Court of Appeals for the Second Circuit affirmed summary judgment for AXA on its decision to terminate the policies sold to Malcolm Wiener. But the court sided with Wiener […]
Execs, regulators debate merits of illustration rules, areas that need work
{August 23rd, 2024} by John Hilton
Insurance companies and consumer advocates have wildly different opinions on the efficacy of illustrations used to sell life insurance and annuities. A state regulator group sought to understand those differences last week during the National Association of Insurance Commissioner’s summer meeting in Chicago. The Life Insurance and Annuities Committee hosted a panel discussion on illustrations […]
Prudential Financial to Reinsure $11B Guaranteed Universal Life Block with Wilton Re
{August 23rd, 2024} by Prudential Financial, Inc.
NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) announced today an agreement to reinsure a portion of its guaranteed universal life block with Wilton Re, resulting in approximately $350 million of expected proceeds, post-closing. Under the terms of the agreement, Wilton Re will reinsure approximately $11 billion of reserves backing Prudential’s guaranteed universal life policies issued […]
Delaware Life Accelerator Prime® Variable Annuity Named to Barron’s 2024 List of Top 100 Annuities for Fifth Consecutive Year
{August 23rd, 2024} by Delaware Life Insurance Company
ZIONSVILLE, Ind.–(BUSINESS WIRE)–Delaware Life Insurance Company, a Group 1001 company, announces its inclusion in the annual Barron’s list of “Top 100 Best Annuities.” This is the fifth consecutive year that Barron’s has ranked Delaware Life Insurance Company annuities in the top 100. Delaware Life Accelerator Prime® Variable Annuity was recognized as a top 100 annuity in the categories of Single Life […]
Global Atlantic Featured in Barron’s 100 Best Annuities Guide in Four Categories
{August 23rd, 2024} by Global Atlantic Financial Group
HARTFORD, Conn.–(BUSINESS WIRE)–Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, announced its inclusion in Barron’s annual guide to the 100 Best Annuities, marking the firm’s third consecutive appearance on this list. Annuities issued by Global Atlantic subsidiary Forethought Life Insurance Company were recognized […]
Many Americans Know the Basics of Life Insurance, Yet Nearly 60% Either Don’t Have Coverage or Are Unsure If They Do
{August 23rd, 2024} by Corebridge Financial
HOUSTON–(BUSINESS WIRE)–According to new research from Corebridge Financial, many Americans have a good understanding of key life insurance principles, yet nearly 6 in 10 either do not have coverage (50%) or do not know if they do (9%). Misunderstandings around cost could help explain this life insurance coverage gap. While 8 in 10 (80%) Americans […]
Life Insurance and Annuities on the 2024 Rollercoaster
{August 23rd, 2024} by Pat O'Donnell
It is no exaggeration to say that, in the life and annuities market, brokerage general agencies, advisors, broker-dealers, carriers, and fund companies have never had to do business in such an inscrutable economic environment as 2024. A sustained era of low interest rates is now a distant memory as the global economy scratches back from […]
JPMorgan Jumps Into 401(k) Annuity Market
{August 23rd, 2024} by Allison Bell
J.P. Morgan Asset Management has joined the rush to package annuitization options with the target-date funds offered inside 401(k) plans. The asset manager last week unveiled the SmartRetirement Lifetime Income program, The JPMorgan program is likely to include annuitization options from Equitable and Prudential, the company said. What it means: Another asset giant is throwing its […]
Former Pruco Rep Barred By Finra Over Forgeries, Annuity Sales
{August 23rd, 2024} by Edward Hayes
Finra has barred a former product representative for Pruco Securities, an affiliate of Newark, N.J.-based Prudential, for alleged securities violations including forging customer signatures and putting clients into unsuitable annuity investments. Christopher Reynolds, who settled the charged in a consent agreeent with the regulator, worked as an investment company and variable contract products representative through an […]
Retirees Should Run Away From These So Called ‘Investments’
{August 23rd, 2024} by 24/7 Wall St
Lee and Doug discuss the pros and cons of annuities, particularly as a financial product targeted at retirees. They note that while annuities offer a degree of safety, being insurance products with state and corporate guarantees, they often come with high fees and commissions, making them more beneficial for the broker than the investor. Click […]
NFL Owners, Leaders to Meet on Private Equity Stakes in Teams
{August 23rd, 2024} by Randall Williams
The National Football League plans to meet in Minneapolis on Aug. 27 to discuss and potentially vote on allowing institutional investors to buy into teams. The league held meetings with multiple private equity firms this week in the hopes of completing a framework to present to owners, people with knowledge of the matter said. Click […]
Building Your Own Annuities Could Be Easier Than You Think. Here’s How
{August 23rd, 2024} by Mark P. Cussen
Life insurance companies have long offered American investors the promise of lifetime income from annuity contracts. The first annuity contracts were relatively simple instruments that paid a fixed interest rate and then paid out a guaranteed stream of income that the beneficiary could not outlive. Click HERE to read the full story via Investopedia Wink’s Moore on […]
Northwestern Mutual Leads Industry with Most Certified Financial Planners in Prominent New Ranking
{August 23rd, 2024} by Northwestern Mutual
MILWAUKEE, Aug. 14, 2024 /PRNewswire/ — Northwestern Mutual leads the financial services industry with the most CERTIFIED FINANCIAL PLANNER™ professionals, according to a new ranking announced by Financial Planning. This is the second consecutive year in which Northwestern Mutual led the list of Independent Broker-Dealers with advisors who have earned the CFP® designation. Among the firms ranked, Northwestern Mutual’s total […]
Midland National and North American Announce New IULs
{August 14th, 2024} by Sammons Financial Group, Inc
e WEST DES MOINES, Iowa–(BUSINESS WIRE)–Midland National® Life Insurance Company and North American Company for Life and Health Insurance®, member companies of Sammons® Financial Group, Inc., are proud to unveil their enhanced Indexed Universal Life (IUL) products. Midland National announces Strategic Accumulator® IUL 3, and North American announces Builder Plus IUL® 4. These highly competitive, next generation products […]
AuguStar Life expands IUL line with new protection-forward product
{August 14th, 2024} by AuguStar Life
CINCINNATI, Aug. 7, 2024 /PRNewswire/ — AuguStarSM Life, a Constellation company, announces the launch of Virtus Protection Indexed Universal Life Insurance, strengthening its lineup of indexed life insurance products. Karl Kreunen, AuguStar Life vice president and chief distribution officer, traditional channel, emphasizes the benefits of the latest AuguStar Life indexed product, “Virtus Protection IUL represents AuguStar’s ongoing […]
Nassau Financial Group Launches Nassau Bonus Annuity Plus
{August 14th, 2024} by Nassau
HARTFORD, Conn.–(BUSINESS WIRE)–Nassau Financial Group (“Nassau”) today introduced Nassau Bonus Annuity PlusSM, a bonus fixed indexed annuity designed to give people confidence that they can reach their retirement goals. “The launch of Nassau Bonus Annuity Plus further expands our fixed annuities product suite, as we look to provide new and innovative fixed annuity products to […]
A piece of my mind
{August 14th, 2024} by Sheryl J. Moore
“THERE IS NO SUCH THING AS AN ANNUITY THAT PAYS A 15% COMMISSION TODAY!” There haven’t been products like that since before the suitability model reg was introduced in 2003. Maybe if you used Wink, Inc.‘s AnnuitySpecs tool, you would know that. “It benefits NO ONE when one badmouths the lion’s share of annuities, in […]
In this episode of That Annuity Show
{August 14th, 2024} by That Annuity Show
In this episode of That Annuity Show, hosts Paul Tyler, Ramsey Smith, and Bruno Caron interview Sheryl J. Moore, Chief Storyteller of Wink, Inc. and author of a new book on indexed annuities. The discussion covers various aspects of the annuity industry, including product complexity, consumer education, and common misconceptions about annuities. Sheryl shares her […]
Aspida and Market Synergy Group Add Two Index Options to Annuity Product
{August 14th, 2024} by Aspida Life Insurance Company
The addition of these new indices to the fixed index annuity expands consumers’ options for growing and protecting their retirement savings DURHAM, N.C., Aug. 9, 2024 /PRNewswire-PRWeb/ — Aspida Life Insurance Company (“Aspida”), a life insurance and annuity company, in conjunction with Market Synergy Group (MSG), today announced the expansion of its Synergy Choice™ Fixed Index Annuity […]
Food for thought
{August 14th, 2024} by Sheryl J. Moore
Did you know that there are 134 different indices, upon which you can earn indexed interest on an indexed annuity? And yet, 66.58% of all indexed annuity premiums are allocated to the S&P 500 or a fixed bucket. Food for thought.. -sjm
The need gap: How does the industry reach underserved communities?
{August 14th, 2024} by Susan Rupe
The life insurance industry has documented the need gap that exists in underserved communities. But why does that gap exist? And how does the industry bridge the gap? Click HERE to read the full story via INN
Equitable Survey Reveals Half of Americans Believe Retiring at Age 65 Is Unrealistic
{August 14th, 2024} by Equitable
NEW YORK–(BUSINESS WIRE)–Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today announced new findings from a survey of more than 1,000 consumers to help uncover the latest financial trends that are top of mind for Americans. Equitable’s survey revealed that nearly half of consumers (47%) believe it is unrealistic for them […]
5 Reasons Annuity Surrenders Can Be a Good Thing
{August 14th, 2024} by Allison Bell
F&G Annuities & Life works hard to bring in new life and annuity business — and it’s fine with some of the policies and contracts going away. Chris Blunt, the company’s chief executive officer, and Wendy Young, the chief financial officer, gave securities analysts a tutorial on annuity surrenders Tuesday during a conference call. Click HERE […]
Jackson Financial reports strong Q2 earnings, despite hedging hits
{August 14th, 2024} by Doug Bailey
Main Takeaway: Jackson Financial delivered strong second-quarter 2024 earnings driven by robust asset growth and capital generation, despite a significant drop in net income due to unfavorable hedging results. The benefits of a favorable equity market and strong annuity sales contributed to growth compared to the second quarter of 2023 and the first quarter of this year. Jackson […]
More Life and Annuity Products Offer Commodity Indexes
{August 14th, 2024} by Allison Bell
The focus on climate and the return of inflation have increased some clients’ interest in gold, oil, grain and other commodities. That enthusiasm is starting to affect the indexes embedded in fixed indexed annuities and registered index-linked annuities, according to Laurence Black, founder of The Index Standard investment index tracking service. Click HERE to read the full story […]
Life and Annuity Illustrations Confuse Clients, Advisor Tells Regulators
{August 14th, 2024} by Think Advisro
State insurance regulators should put bad years into the performance illustration charts that show how life insurance policies and annuities might work. Richard Weber, the principal at The Ethical Edge, a life insurance advisory firm in Pleasant Hill, California, is making that case to the National Association of Insurance Commissioners this week. Weber is giving […]
AM Best Affirms Credit Ratings of Sammons Financial Group, Inc. and Its Subsidiaries
{August 14th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of Midland National Life Insurance Company (Midland National) and North American Company for Life and Health Insurance (North American) (both domiciled in West Des Moines, IA). In addition, AM Best has affirmed […]
Allianz Achieves Record Profits in First Half 2024
{August 14th, 2024} by Allianz
MUNICH–(BUSINESS WIRE)–August 8, 2024 2Q 2024: Total business volume advances 7.6 percent to 42.6 billion euros Operating profit reaches 3.9 billion euros driven by good results in all segments Shareholders’ core net income stable at 2.5 billion euros 6M 2024: Total business volume rises by 6.4 percent to 91.0 billion euros Operating profit increases by […]
Horace Mann reports second-quarter 2024 results
{August 14th, 2024} by Horace Mann
SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN), the largest multiline financial services company focused on helping America’s educators and a core small-cap value equity in the Financials sector, today reported financial results for the three and six months ended June 30, 2024: Diversified business delivered second-quarter net income of $4 million, or $0.09 per share, […]
John Hancock and Ethos Collaborate to Offer Simple Term with Vitality and a Return of Premium Rider
{August 14th, 2024} by Ethos
BOSTON–(BUSINESS WIRE)–John Hancock and Ethos have joined forces to offer John Hancock Simple Term with Vitality through Ethos. This simplified term life insurance product provides customers with generous Return of Premium (ROP) benefits and the ability to earn John Hancock Vitality rewards and discounts, all with a 100 percent instant underwriting decision. Ethos has built one of the […]
Brighthouse Financial Announces Second Quarter 2024 Results
{August 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 second quarter ended June 30, 2024. Second Quarter 2024 Results The company reported net income available to shareholders of $9 million in the second quarter of 2024, or $0.12 per diluted share, compared with a net […]
Jackson Announces Second Quarter 2024 Results
{August 14th, 2024} by Jackson Financial Inc.
LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc. (NYSE: JXN) (Jackson®) today announced its financial results for the second quarter ended June 30, 2024. Key Highlights Strong earnings driven by a 9% increase in total annuity assets under management, from $227 billion as of June 30, 2023 to $247 billion as of June 30, 2024, largely due to higher […]
Flourish expands annuities marketplace though new partnership
{August 14th, 2024} by Steve Randall
Registered investment advisors using the Flourish Annuities platform will benefit from an expansion of the marketplace announced this week. Click HERE to read the full story via InvestmentNews
Finseca: Saving Tips Your Financial Advisor Wants You to Know
{August 14th, 2024} by Finseca
WASHINGTON, Aug. 8, 2024 /PRNewswire/ — A recent survey found that three-quarters of Americans regret not saving for retirement earlier. The average age for Americans to begin saving is 28. However, 64% of those surveyed wish they had started building their savings plan before age 25. To avoid regrets related to financial planning, set a plan in place today. […]
Liberty Bankers Insurance Group’s AM Best Excellent Financial Strength Rating Reaffirmed
{August 14th, 2024} by Liberty Bankers Insurance Group
DALLAS, Aug. 8, 2024 /PRNewswire/ — Liberty Bankers Insurance Group (LBIG), a nationally recognized provider of life, health, and wealth products, reaffirmed its financial strength rating (FSR) of A- (Excellent) and its issuer credit rating (ICR) of a- (Excellent) from AM Best for the third year in a row. The ratings reflect LBIG’s balance sheet strength, which AM Best […]
A look behind annuity numbers as sales explode
{August 14th, 2024} by Doug Bailey
Sales of annuities, the once largely disparaged investment instrument, have been off the charts for the last several years. Consumers, mostly retirees or those close to retiring, have turned to annuities in record numbers, fueled by the seemingly reassuring financial features but also by the insurance companies that heavily market them and are eager for […]
Escape From the QLAC: IRS Clarifies Rules on Longevity Annuity Exchanges
{August 14th, 2024} by Allison Bell
Policymakers in Washington are trying to get deferred income annuities off economists’ list of nice ideas and onto the list of products retirement savers really use. The Setting Every Community Up for Retirement Enhancement (Secure) 2.0 Act of 2022 updated some rules on qualified longevity annuity contracts, or QLACs. The Internal Revenue Service is starting to add […]
‘Silver Wave’ Isn’t the Only Factor Boosting Annuities
{August 14th, 2024} by John Manganaro
The record “silver wave” of people turning 65 this year has created a significant tailwind for annuities, according to Principal’s Sri Reddy, but that’s not the only factor driving annuity sales figures higher. Individual investors have shown record interest in annuities since the start of 2022, according to Reddy, who serves as a senior vice president for retirement and income […]
The Insurance Industry Is Winning a Fight to Kill New Protections for Retirement Savers
{August 14th, 2024} by Jean Eaglesham
The insurance industry is waging a legal war against new protections for retirement savers. The courtroom offensive appears likely to kill a yearslong effort to curb advice steering people toward products packed with hidden fees. The high-stakes battle centers on a new standard for financial advice affecting the nearly $1 trillion a year rolled over from employer-sponsored […]
Buy the Dip: 7 Ways to Take Advantage of Market Drops
{August 14th, 2024} by Roger Wohlner
August started off with some steep declines in major market averages. On Aug. 5, the Dow Jones Industrial Average, S&P 500 and Nasdaq all dropped at least 2.5%, following declines in each of the two prior trading sessions. While the averages have recovered a bit in the days since, investors and advisors have to be […]
Is continuing illiquidity in the life/annuity portfolio a cause for concern?
{August 14th, 2024} by Mary Pat Campbell
With results from 2023 investments for both life/annuity and property/casualty insurers in, we see life/annuity insurers continue to reach for yield through illiquid assets, such as mortgages and private placements. Click HERE to read the full story via INN
LIMRA/SOA study: Fixed-rate deferred annuitants are not surrendering early
{August 14th, 2024} by John Hilton
Insurance companies generally prefer that annuity contract holders do not surrender their contracts. While a surrender charge penalty would apply, and some of those who surrender an annuity are doing so to buy another annuity, insurers prefer the stability of a long-term contract holder. A new study by the Society of Actuaries and LIMRA found that […]
Annexus and John Hancock: A Groundbreaking Collaboration
{August 14th, 2024} by Annexus
The financial services industry continues to buzz with excitement after Annexus and John Hancock announced their first-ever collaboration in June: John Hancock’s Protection indexed universal life insurance (PIUL) with access to Annexus’ cutting-edge indices. This strategic partnership combines the innovative experience of Annexus with the enduring financial strength and legacy of John Hancock. Click HERE […]
This report identifies sales at an index level: Incomparable resource!
{August 7th, 2024} by Wink's Intel Pros
Hybrid indices have been the primary source of indexed insurance companies’ product management efforts over the past few years. Wink’s Index Intelligence Report identifies indexed annuity and indexed life insurance sales at an index level. It is an annual, complete overview of sales per index (includes all applicable, 10-year historical sales) and identification of the […]
Coach Pete & Sheryl J. Moore talking about Indexed Annuities
{August 7th, 2024} by Sheryl J. Moore
I was blessed to be interviewed by Peter -Coach Pete- D’Arruda, RICP®, MRFC® about my new book. -sjm Click HERE to view Coach Pete & Sheryl J. Moore talking about Indexed Annuities
A typical day in the life of Sheryl J. Moore
{August 7th, 2024} by Sheryl J. Moore
– Get ready and throw a load of laundry in; – Get to the office, and grab a Dr. Pepper Cream Soda; – Feed the fish; – Read the morning news; – Check email; – Send out book orders; – Read the policy filing for a new indexed annuity; – Do a podcast with one […]
Too good not to share…
{August 7th, 2024} by Sheryl J. Moore
Thanks for the testimony, Branislav Nikolic! -sjm
Why Offer Fixed Annuities? Corebridge CEO Explains
{August 7th, 2024} by Allison Bell
Corebridge Financial posted strong sales of individual annuities for the second quarter — just as market turmoil was about to hit. Kevin Hogan, the chief executive officer, talked to securities analysts during a conference call about why Corebridge is comfortable offering income guarantees and what access to guarantees means for retirement savers. Click HERE to read the full […]
Performance Lock Features Proliferate as Consumers Seek to Protect Gains
{August 7th, 2024} by Cyril Tuohy
Sheryl Moore, CEO of Wink, publisher of Wink‘s Sales & Market Report, which tracks the life and annuity market, said features that give consumers the option to lock in gains at a high point in the index are becoming more popular because of the steadily rising market — which brings with it the threat of a looming […]
Principal’s Retirement Market Strategy Takes Shape Amid Growing RILA Sales
{August 7th, 2024} by Warren S. Hersch
Industry watchers note that Principal’s product designs differentiate the carrier’s offerings and open new opportunities in the crowded market. “With the introduction of their new Secure Income Rider, Principal is giving themselves the opportunity to compete for clients in both the investment only and retirement income rider space,” said Peter Lamond, VA product director for Wink Inc. […]
5 Trends in Today’s Annuity Market: Equitable
{August 7th, 2024} by Allison Bell
Equitable is one of the life insurers shaping the individual annuity market. It created the modern registered index-linked annuity product category. The insurer is now working with BlackRock and its own corporate sibling, AllianceBernstein, to create retirement plan options that combine a target-date fund with an in-plan annuity. It hopes that kind of package will become the […]
Lincoln Financial Posts Surprising Annuity Sales Figures
{August 7th, 2024} by Allison Bell
Lincoln Financial sold so many individual annuities in the second quarter that Suneet Kamath, a securities analyst with Jefferies, wondered whether the annuity market is all right. The life and annuity issuer increased individual annuity sales to $3.8 billion in the second quarter, up 48% from the total for the second quarter of 2022. Click HERE […]
Pru’s U.S. Chief Enters August Storms With Sunny Annuity Numbers
{August 7th, 2024} by Allison Bell
Prudential Financial’s U.S. life and annuity business posted great numbers, right before world investment markets went haywire and stole focus. Caroline Feeney, the head of Prudential’s U.S. businesses, told securities analysts Friday that Prudential generated strong sales of relatively low-risk products, and that market demand continues to move in Prudential’s direction. Click HERE to read […]
Only a Quarter of Americans Expect to Leave an Inheritance
{August 7th, 2024} by Michael S. Fischer
The much-ballyhooed great wealth transfer may neither be that great nor transfer that much money to many Americans expecting an inheritance, according to the latest findings from Northwestern Mutual’s 2024 Planning & Progress Study. Only 26% of study participants said they expect to leave behind an inheritance. This will disappoint many millennials and members of Generation […]
TIAA, Morningstar Accused of Funneling Assets to Proprietary Products
{August 7th, 2024} by John Manganaro
A lawsuit filed Monday in a federal court accuses TIAA and Morningstar of developing an investment advice tool that has improperly steered clients toward profitable proprietary investment vehicles, including the TIAA Traditional Annuity and the TIAA Real Estate Account. Known as the Retirement Advisor Field View, the tool was allegedly developed in response to a […]
Equitable capitalizes on strong RILA sales environment during Q2
{August 7th, 2024} by John Hilton
Main takeaway: Registered indexed-linked annuities remain one of the hottest annuity product lines and Equitable Holdings is leading the way. There is even more room for RILAs to run in the market, Equitable executives told Wall Street analysts during a Wednesday morning call. In the first quarter, Equitable led all insurers with $3.4 billion worth […]
Feds seek $1.5M forfeiture from Greg Lindberg after bribery conviction
{August 7th, 2024} by John Hilton
Federal government attorneys are asking a court to order forfeiture of nearly $1.5 million in funds previously seized from disgraced financier Greg Lindberg after his recent bribery conviction. Lindberg, along with associate John Gray, was convicted in May of bribing North Carolina Insurance Commissioner Mike Causey for a second time. As part of the 2018 FBI investigation, […]
Regulators push for draft reinsurance guideline by summer meetin
{August 7th, 2024} by John Hilton
A state insurance panel plans to preview a draft actuarial guideline aimed at tightening oversight of offshore reinsurance assets at its August summer meeting in Chicago. The Life Actuarial Task Force met Thursday to hear from those who submitted comments during a second public comment period. Regulators want to strengthen asset adequacy testing to better […]
Key trends shaping the life insurance industry in 2024
{August 7th, 2024} by Hari Srinivasan
Even though 2024 is nowhere near finished, the year has already seen major advances in the life insurance industry. Innovative companies are implementing AI-powered technology into the underwriting process, resulting in fast applications, instant offers, and personalized policies. As a result, the way people get life insurance has changed for good. Welcome to the era […]
Athene earnings come up short in Q2 despite monster annuity sales
{August 7th, 2024} by John Hilton
Main takeaway: Athene Life & Annuity came up short on earnings during the second quarter despite dominating the industry in annuity sales. Apollo Global Management CEO Marc Rowan pointed to conservative hedging for the reduced earnings. Apollo opted to be conservative in factoring in potential interest rate cuts, Rowan explained to Wall Street analysts during […]
Corebridge Financial stuns analysts with 68% bump in annuity premium
{August 7th, 2024} by John Hilton
Main takeaway: Corebridge Financial’s second-quarter annuity sales were so strong, Wall Street analysts had a hard time believing in the numbers. Premium and deposits grew 68% to nearly $6.8 billion during the quarter, mainly off strong fixed annuity sales. Those sales came during a quarter that saw LIMRA report some fixed annuity sales declines across the […]
SEC’s ‘best interest’ Reg BI rule fails to live up to initial promise, panel says
{August 7th, 2024} by Doug Bailey
Reg BI, the rule adopted by securities regulators five years ago that intended to require brokers to provide a higher standard of care for clients, has not nearly lived up to its promises, leaving regular investors more vulnerable than ever to fraud and abuse by financial advisors. That was the consensus finding of a recent […]
Prudential rides strong FlexGuard sales to second-quarter earnings win
{August 7th, 2024} by John Hilton
Main takeaway: Prudential turned a big corner in the second quarter with robust sales of its FlexGuard flagship annuity boosting revenues. The insurer continued an evolution that began several years ago to remake its product offerings and shift away from market sensitive products. During the first quarter, Prudential cut ties with its money-losing Assurance IQ direct-to-consumer […]
NAIC working group adopts long-awaited accelerated underwriting guidance
{August 7th, 2024} by John Hilton
It took years for a regulator group to finalize an accelerated underwriting guidance that was adopted in five minutes Tuesday with no comments. The Accelerated Underwriting Working Group met its goal to adopt the guidance in time for its parent Life Insurance and Annuities Committee to consider during the National Association of Insurance Commissioners’ summer […]
Americans Worry Extreme Weather Will Rain on Their Retirement
{August 7th, 2024} by Allianz Life Insurance Company of North America
MINNEAPOLIS–(BUSINESS WIRE)–The majority of American are anxious about the effect extreme weather could have on their financial future yet few are talking about it with a financial professional, according to the 2024 Annual Retirement Study* from Allianz Life Insurance Company of North America (Allianz Life). More than half (56%) of Americans say they have anxiety […]
Pacific Life and Franklin Templeton Announce Defined Contribution Lifetime Income Solution
{August 7th, 2024} by Franklin Distributors, LLC
NEWPORT BEACH, Calif. & SAN MATEO, Calif.–(BUSINESS WIRE)–A resounding majority (87 percent) of U.S. workers would welcome access to a guaranteed lifetime income stream as an employment benefit, according to the 2024 Voice of the American Workplace study conducted on behalf of Franklin Templeton by The Harris Poll. Today, Pacific Life and Franklin Templeton are announcing a […]
Equitable Holdings Reports Second Quarter 2024 Results
{August 7th, 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 second quarter ended June 30, 2024. “Equitable’s second quarter results highlight the building growth momentum across the company. Non-GAAP operating earnings per share of $1.43 increased 23% from the prior year quarter and was up 20% […]
Best’s Special Report: Annuity Sales Supporting Growth of U.S. Fraternal Organizations
{August 7th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–Premium levels increased for fraternal organizations on an aggregate basis in 2023, but still lag behind the overall growth rate for the U.S. life/annuity industry, according to a newly issued report by AM Best. A Best’s Special Report on the fraternal segment notes that on a direct premium basis, higher interest rates help drive a 16% […]
Corebridge Financial Announces Second Quarter 2024 Results
{August 7th, 2024} by Corebridge Financial, Inc
HOUSTON–(BUSINESS WIRE)–Corebridge Financial, Inc. (“Corebridge” or the “Company”) (NYSE: CRBG) today reported financial results for the second quarter ended June 30, 2024. Kevin Hogan, President and Chief Executive Officer of Corebridge, said, “This was another excellent quarter for Corebridge where our diversified business model, strong balance sheet and disciplined execution drove positive results. We continue […]
Lincoln Financial Group Reports 2024 Second Quarter Results
{August 7th, 2024} by Lincoln Financial Group
ADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported financial results for the second quarter ended June 30, 2024. Net income available to common stockholders was $884 million, or $5.11 per diluted share. Adjusted operating income available to common stockholders was $319 million, or $1.84 per diluted share. The primary differences between net income and […]
AM Best Affirms Credit Ratings of Protective Life Corporation and Its Key Subsidiaries
{August 7th, 2024} 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 the primary life insurance subsidiaries of Protective Life Corporation (headquartered in Birmingham, AL), collectively known as Protective Life. Additionally, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) and […]
Prudential Financial, Inc. Announces Second Quarter 2024 Results
{August 7th, 2024} by Prudential Financial, Inc.
NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) today reported second quarter results. Net income attributable to Prudential Financial, Inc. was $1.198 billion ($3.28 per Common share) for the second quarter of 2024, compared to $511 million ($1.38 per Common share) for the second quarter of 2023. After-tax adjusted operating income was $1.234 billion ($3.39 per […]
SBLI Introduces Market Crest™ Multi-Year Guarantee Indexed Annuity
{August 7th, 2024} by SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts)
WOBURN, Mass.–(BUSINESS WIRE)–SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) announces its launch of Market Crest™, a Multi-Year Guarantee Indexed Annuity (MYGIA). This product offers the reliable growth of a multi-year guaranteed rate annuity combined with the opportunity for an interest bonus tied to the positive performance of the S&P 500® Index*, all while avoiding […]
Lincoln Financial Group Expands Suite of In-Plan Guaranteed Lifetime Income Products to Offer More Flexibility, Choice and Customization in Retirement
{August 7th, 2024} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) has expanded its Lincoln PathBuilder Income® powered by YourPath® product to add a lifetime income guarantee to an underlying asset allocation investment fund. This builds on the success of Lincoln Financial’s broad suite of in-plan guaranteed lifetime income products and offers more flexibility, choice and customization to plan sponsors and […]
FNF Reports Second Quarter 2024 Financial Results
{August 7th, 2024} by Fidelity National Financial, Inc.
JACKSONVILLE, Fla., Aug. 5, 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 & […]
Guardian report: Only one-third of Americans say they’re doing well, with retirement planning and personal finances primary sources of stress
{August 7th, 2024} by Guardian
Guardian’s annual Mind, Body, and Wallet® report finds that while well-being edged up, more support and resources are needed to address Americans’ evolving needs. NEW YORK, July 30, 2024 /PRNewswire/ — In its annual Mind, Body, and Wallet® report, The Guardian Life Insurance Company of America® (Guardian) found that well-being among Americans remains low, highlighting the pressing need for additional […]
F&G Annuities & Life Reports Second Quarter 2024 Results
{August 7th, 2024} by F&G Annuities & Life, Inc.
DES MOINES, Iowa, Aug. 5, 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 second quarter ended June 30, 2024. Net earnings attributable to common shareholders (net earnings) for the second quarter of $198 million, or $1.55 per […]
The ‘Three-Legged Stool’ of Retirement Is Missing a Leg
{August 7th, 2024} by John Rekenthaler
Personal annuities can only get the system so far. Once, the tale goes, American workers relied upon a three-legged stool for their retirement income: 1) Social Security, 2) pensions, and 3) personal savings. Click HERE to read the full story via Morningstar. Wink’s Moore on the Market: Here we go with Morningstar hating on annuities again. […]
What the New Emergency Retirement-Distribution Draft Guidance Means for Annuities
{August 7th, 2024} by Allison Bell
The Internal Revenue Service recently began a regulatory project that could turn some annuity owners’ retirement accounts into rainy day funds. IRS officials posted draft guidelines for implementing sections 115 and 314 of the Setting Every Community Up for Retirement Enhancement (Secure) 2.0 Act, or Secure 2.0, which added two important exceptions to Internal Revenue Code section […]
Higher Stock Prices and Worried Investors Boost Q2 Annuity Sales
{August 7th, 2024} by Allison Bell
Rising stock prices, good rates and investors’ memories of past stock market woes helped insurers increase U.S. individual annuity sales 25%, year over year, to $109 billion in the second quarter of 2024. Sales of registered index-linked annuities, or annuities with returns tied to the performance of entire stock indexes, rather than mutual fund-like baskets […]
Getting to know our Product Specspert, Knower of Important Things
{August 6th, 2024} by Wink's Intel Pros
Talia, is our Product Specspert, Knower of Important Things. Her passion for one-liners is fueled by the likes of “The Big Lebowski,” “Anchorman,” “Fear and Loathing in Las Vegas,” “Labyrinth,” and “The Princess Bride.” This former Arizonian is steadfastly dedicated to volunteering for her children’s school. Already fascinated with this fantastic female? Click HERE to […]
