5 Reasons Annuity Surrenders Can Be a Good Thing
August 14, 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 to read the full story via Think Advisor
Wink’s Moore on the Market: Insurance companies make money when clients surrender their annuities.
F&G knows something about that.
Chris Blunt and Wendy Young decided to give analysts a peak behind the curtain on the company’s surrenders, during their earnings calls.
Want some good intel?
“Annuity surrenders increased to $1.5 billion on $33 billion in balances, from $880 million on $31 billion in balances.”
There has been A LOT of replacement activity going on lately!
Honestly- the part that I liked best about this piece was where Chris was giving kudos to their distributors. What a class act!
“When clients change gears, ‘it benefits our own distribution, because some of the investments we’ve made have been in annuity-oriented [independent marketing organizations], and they’re just crushing it in this environment,’ Blunt said. ‘Not only in terms of new sales, but obviously in terms of smart replacement sales.’”
We are looking forward to releasing 2Q2024 sales shortly. Stay tuned for the deets on how F&G did… -sjm
