Principal® names Deanna Strable next president and CEO
{November 13th, 2024} by Principal Financial Group
DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) today announced the Board of Directors has appointed president and chief operating officer Deanna Strable as the company’s next president and chief executive officer, effective January 7, 2025. Strable succeeds Dan Houston, who will continue to serve as executive chair of the Board. “I’m incredibly proud of the […]
F&G Annuities & Life Reports Third Quarter 2024 Results
{November 13th, 2024} by F&G Annuities & Life, Inc.
DES MOINES, Iowa, Nov. 6, 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 third quarter ended September 30, 2024. Net loss attributable to common shareholders (net loss) for the third quarter was $10 million, or $0.08 per […]
Term Life Activity Keeps Booming
{November 13th, 2024} by Allison Bell
Term life policies were more popular with U.S. consumers applying for individual life insurance in October and universal life policies were not, according to new application activity data from MIB Group. MIB, an organization that helps life insurers share some of the information used in the underwriting process, says consumers filed 13% more applications for […]
NASAA wants to limit who can call themselves ‘advisors’
{November 13th, 2024} by Dan Shaw
State regulators are considering new restrictions that would prevent just anyone in the financial services industry from taking on the label “advisor.” And they’re also proposing a new best interest conduct standard similar to the one that now applies to broker-dealers at the federal level. But before they adopt anything, they want to hear what […]
Allianz Records 14 Percent Operating Profit Growth for Third Quarter 2024
{November 13th, 2024} by Allianz SE
MUNICH–(BUSINESS WIRE)–November 13, 2024 3Q 2024: Total business volume advances 17.3 percent to 42.8 billion euros Operating profit increases 13.6 percent and reaches 3.9 billion euros, attributable to very good results in the Property-Casualty segment Shareholders’ core net income reaches 2.5 billion euros, an increase of 23.0 percent 9M 2024: Total business volume rises 9.6 […]
Jackson Announces Third Quarter 2024 Results
{November 13th, 2024} by Jackson Financial Inc.
LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc. (NYSE: JXN) (Jackson®) today announced its financial results for the third quarter ended September 30, 2024. Third quarter 2024 results reflect strong growth in sales, earnings, capital generation and capital return Retail annuity sales of $5.3 billion in the third quarter of 2024, up 59% from the third quarter of […]
Independent agents have high insurer satisfaction despite market challenges, study finds
{November 13th, 2024} by Doug Bailey
Despite one of the most challenging markets in history, independent insurance agents are nevertheless more satisfied than ever with insurers, according to a new survey. Rising rates, insurer exits, frustrated consumers, and difficulties have created a tumultuous market. Yet agent satisfaction with insurance companies has been robust, particularly in the commercial lines sector. Click HERE […]
AM Best Affirms Credit Ratings of Nationwide Mutual Insurance Company and Its Key Operating Subsidiaries
{November 13th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of the members of Nationwide Property and Casualty Group (Nationwide P&C Group). Concurrently, AM Best has affirmed the FSR of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) of Nationwide […]
Brighthouse Financial Announces Third Quarter 2024 Results
{November 13th, 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 third quarter ended September 30, 2024. Third Quarter 2024 Results The company reported net income available to shareholders of $150 million in the third quarter of 2024, or $2.47 per diluted share, compared with net income […]
Brighthouse Financial Announces Completion of Reinsurance Transaction
{November 13th, 2024} by Brighthouse Financial, Inc
Brighthouse Financial Announces Completion of Reinsurance Transaction November 08, 2024 04:30 PM Eastern Standard Time CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today that it has completed a reinsurance transaction with a third party to reinsure a legacy block of the company’s fixed and payout annuities. The transaction was […]
A Real Jump Scare: IUL Premium Financing Is Like the Hotel California of the Life Insurance Business – You Can Check In, But You Can Never Leave
{November 13th, 2024} by Larry J. Rybka
For those who have followed my previous posts, you know I am no fan of premium financed IUL. I have also engaged in three separate industry-sponsored debates on the topic with some of the self-anointed kings of IUL premium finance. All of my posts on this topic have led to an increase in inquiries from […]
‘Asset-intensive’ annuity reinsurance has NAIC’s attention
{November 13th, 2024} by Kerry Pechter
At an Oct. 24 meeting, the NAIC’s Life Actuarial Task Force (LATF) continued to hammer out a new guideline for ‘asset adequacy testing’ of offshore reinsurance reserves. Starting in 2025, it could raise the cost of ‘asset-intensive business’ for U.S. annuity issuers. Click HERE to read the full story via Retirement Income Journal
How ‘Demutualization’ Changed Everything, Part II
{November 13th, 2024} by Kerry Pechter
With demutualization, a life insurer went from being a cooperative aimed at providing its owner-customers with insurance at cost, to being a diversified financial corporation aimed at maximizing value for its shareholder-owners. Those are fundamental changes. The “demutualization wave” of the late 1990s was a watershed for the U.S. life/annuity business. It was the outcome […]
Here’s how to help bridge your retirement income gap
{November 13th, 2024} by Caitlin Cahalan
Planning for retirement is a multi-decade process that must include considerations regarding inflation, market fluctuations, and risk tolerance. With the cost of living skyrocketing and the fate of Social Security unclear, 401(k)s, IRAs, and 403(b)s may not be enough to sustain consumers through retirement. The possibility of outliving retirement savings has become more prevalent, forcing Americans to adjust their investment […]
Apollo Projects $10 Billion of Earnings in Five Years
{November 13th, 2024} by Allison McNeely
(Bloomberg) — Apollo Global Management Inc. expects to generate $10 billion of annual earnings across its asset management and retirement businesses by 2029, driven by investor demand for private credit and annuities. Fee-related earnings are forecast to grow 20% on average annually for the next five years, while earnings at its Athene insurance arm […]
Wade Pfau & Michael Finke on Using Annuities to Optimize Retirement
{November 13th, 2024} by Brad Pistole
In this conversation, Brad Pistole hosts Dr. Michael Finke and Dr. Wade Pfau, two experts in retirement planning. They discuss the importance of guaranteed income, the shift from traditional bonds to annuities, and the concept of mortality credits. The discussion also covers the RISA assessment tool for retirement planning and offers practical advice for pre-retirees […]
An Advisor’s Choice: Generate Life Insurance Premiums or Assets Under Management?
{November 13th, 2024} by Charles L. Ratner
“Unless there’s a need for liquidity, we don’t want our clients putting money into permanent life insurance. We want that money here as assets under management.” I first heard that said over 30 years ago by an investment advisor who didn’t sell life insurance. I understood their point of view.Fast-forward three decades, and I still […]
National Life Accused of Racketeering in IUL Lawsuit
{November 13th, 2024} by Warren S. Hersch
National Life certainly isn’t the first carrier to be sued for alleged misrepresentations in the sale of an indexed universal life insurance policy, but it may be the first one facing a lawsuit that claims the conduct amounted to racketeering. Click HERE to read the full story via LifeAnnuitySpecialist Wink’s Moore on the Market: I […]
Annuity.com, Inc. Announces Partnership with ECA Marketing to Expand Agent Services
{November 13th, 2024} by Annuity.com
GILBERT, Arizona – November 5, 2024 – Annuity.com, Inc., a leading fintech and financial media company, announced today a strategic partnership with ECA Marketing. This new partnership will provide Annuity.com agents the opportunity to offer life insurance products including advanced planning products, and will deliver agents marketing, case design, illustration and contracting. “Through this […]
California insurance department accused of hiding information on life insurance complaints
{November 13th, 2024} by Ethan Baron, Bay Area News Group, San Jose Mercury News
A Bay Area consumer-advocacy group claims California’s Department of Insurance is violating state public-records law by refusing to hand over important data on consumer complaints about life insurance. The Pleasant Hill-based non-profit Life Insurance Consumer Advocacy Center called the department’s purported violation of the California Public Records Act “inexcusable.” The department did not immediately respond to requests for comment. Click HERE […]
Brighthouse execs talk up new hedging program, break reinsurance news
{November 13th, 2024} by John Hilton
Main takeaway: Concern over a sliding risk-based capital ratio continued during the third quarter for Brighthouse Financial. President and CEO Eric Steigerwalt had candidly told Wall Street analysts on a second-quarter call that the insurer was disappointed with its underlying financials and a 380% to 400% RBC ratio. Insurers generally like to operate with a 400% to […]
Corebridge Financial tallies strong annuity, life sales numbers in Q3
{November 13th, 2024} by John Hilton
Corebridge Financial is a late entrant to the red-hot registered indexed-linked annuity market, but the insurer is not taking a backseat. Executives touted the recent launch of its MarketLock RILA during a third-quarter call Tuesday with Wall Street analysts. The product makes Corebridge the biggest annuity seller to offer products in every major category. Click […]
‘Everything worked’: Apollo touts a 16% increase in AUM during Q3
{November 13th, 2024} by John Hilton
Commitment to the high-net-worth market drove Apollo Global Management to a massive increase in assets under management during the third quarter. The firm’s assets under management ballooned to $733 billion, a 16% increase over the year-ago quarter. It is part of a “play to win” strategy that includes ambitious targets like average annual 20% fee-related […]
Jackson Financial climbs RILA sales charts with another strong quarter
{November 13th, 2024} by John Hilton
As a longtime leader in the variable annuity space, it seemed inevitable that Jackson Financial would master the registered indexed-linked annuity. Despite a late entry in the red-hot RILA space, Jackson is hitting its stride with its Market Link Pro. The insurer backed up $1.4 billion in Q2 RILA sales with another $1.6 billion in […]
Greg Lindberg changes course, pleads guilty to $2 billion fraud
{November 13th, 2024} by John Hilton
The lengthy saga of troubled financier and onetime Bankers Life Insurance Co. owner Greg Lindberg entered a new phase Tuesday when Lindberg pleaded guilty to engineering a $2 billion fraud. Lindberg, convicted for a second time in May of trying to bribe North Carolina Insurance Commissioner Mike Causey, also pledged to help a special master […]
Integrity Awarded Best Company Outlook Award Based on Employee Ratings of the Company’s Ongoing Bright Future
{November 13th, 2024} by Integrity Marketing
DALLAS – NOVEMBER 7, 2024 – 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 been awarded Best Company Outlook from Comparably, a leading workforce surveyor and employee sentiment platform. The award recognizes companies rated by employees as holding significant […]
Greg Lindberg plea deal reached on federal fraud charges
{November 13th, 2024} by John Hilton
Greg Lindberg is scheduled to accept a plea deal to satisfy fraud charges Tuesday in a North Carolina courtroom, according to court documents. The deal would terminate one of the many civil and criminal cases against Lindberg. Details of the plea agreement were sealed by the Western District of North Carolina. Click HERE to read […]
Transaction to boost RBC ratio, aligning with strategic capital aims
{November 13th, 2024} by Kenneth Araullo
Brighthouse Financial has announced the completion of a reinsurance transaction with a third-party reinsurer for a legacy block of its fixed and payout annuities. The company had previously discussed the transaction during its earnings call for the quarter ending September 30, 2024, held on November 8, 2024. Click HERE to read the full story via […]
What role do commissions now play for advisors?
{November 13th, 2024} by Josh Welsh
InvestmentNews survey highlights almost half of advisors continue to be compensated by commissions despite model often being publicly denounced. Click HERE to read the full story via InvestmentNews. Wink’s Moore on the Market: I have to admit InvestmentNews has me stumped with this one. What about the many hybrid RIAs that collect commissions AND do […]
T. Rowe Price Watches Some Variable Annuity Assets Fade Away
{November 13th, 2024} by Allison Bell
Changes in the U.S. individual annuity market are reshaping the pools of assets T. Rowe Price manages for life insurers. Rob Sharps talked about the changes Friday, during a conference call with securities analysts. T. Rowe sees attractive opportunities to managed more fixed income assets for life insurers, Sharps said. Click HERE to read the […]
Northwestern Mutual Capital co-investment offering raises over $470 million, exceeding fundraising target
{November 13th, 2024} by Northwestern Mutual
MILWAUKEE, Nov. 7, 2024 /PRNewswire/ — Northwestern Mutual Capital (NMC), which manages approximately $19 billion of private equity-related assets, today announced it has closed on fundraising for its Northwestern Mutual Capital Equity Fund VII and its parallel fund, which secured $473 million in commitments. Equity Fund VII is expected to invest directly in middle-market companies located across North America and Western Europe. This fund […]
Group 1001 Welcomes Tony Marichal as Vice President of Annuity Operations
{November 13th, 2024} by Group 1001
ZIONSVILLE, Ind.–(BUSINESS WIRE)–Group 1001, a leading financial services company, announces Tony Marichal as Vice President of Annuity Operations of Group 1001 Life & Annuity. Reporting to Chief Operating Officer Martin Woll, Marichal oversees the annuity operations for two Group 1001 companies, Delaware Life Insurance Company and Clear Spring Life and Annuity Company. He is responsible […]
AM Best Affirms Credit Ratings of Standard Insurance Company and its Affiliate Companies, and Pacific Guardian Life Insurance Company, Limited
{November 13th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a+” (Excellent) of Anthem Life Insurance Company (Indianapolis, IN), Greater Georgia Life Insurance Company (Atlanta, GA) and Anthem Life & Disability Insurance Company (New York, NY). These companies are collectively known as Standard […]
Finseca Flash
{November 13th, 2024} by Finseca Flash
It looks like President-elect Donald Trump won in historic fashion becoming the first Republican to win the popular vote in twenty years. It also looks like Republicans will control the U.S. Senate with at least 52 seats — meaning, Trump will be able to get his Cabinet in place and nominations across without Democrat support. […]
DPL teams up with Envestnet for data integration
{November 13th, 2024} by DPL Financial Partners
LOUISVILLE, KY, Nov. 12, 2024- DPL Financial Partners, the leading platform for commission-free annuities, today announced its live data integration with advisor technology provider Envestnet. The integrated feed allows users on Envestnet’s Wealth Management Platforms for advisors to report on annuity and insurance products on their platforms. “Our integration with Envestnet is a key step […]
5 Ways Trump’s Election Could Affect Life and Annuity Players
{November 13th, 2024} by Allison Bell
Donald Trump won a second term in the White House Tuesday, Republicans took back control of the Senate, and Republicans appeared to be on track to hold on control of the House. How could that affect the companies that write life insurance and annuities, the clients that use the products, and the financial professionals who help […]
Ameriprise Plans to Keep Its Long-Term Care Insurance Block
{November 13th, 2024} by Allison Bell
Ameriprise Financial likes its closed block of long-term care insurance policies and has no plans to make a deal to get rid of it. Walter Berman, the Minneapolis-based company’s chief financial officer, stood up for the company’s LTCI block last week during a conference call with securities analysts. Ameriprise analysts looked carefully at opportunities to […]
Taming market volatility risk is a must for investors
{November 5th, 2024} by Ayo Mseka
Following recent market volatility, most Americans want to reduce risk in their financial strategy and bolster their portfolio against future volatility, according to the 2024 Q3 Quarterly Market Perceptions Study from Allianz Life Insurance Company of North America. In fact, a whopping 73% of Americans said that they would stop using their current financial professional […]
New Research Shows Full or Partial Annuitization Leads to Better Retirement Income Outcomes than 4% Rule
{November 5th, 2024} by ACLI
WASHINGTON, Oct. 29, 2024 /PRNewswire/ — A strategic balance of annuities and systematic withdrawals, tailored to individual needs, preferences and market conditions, is the key to optimal retirement outcomes according to new research from economists Mark Warshawsky, Principal of ReLIA Strategies, former Deputy Commissioner for Retirement and Disability Policy at the Social Security Administration (2017-2021), and current Senior […]
Funny name, serious implications: The basics of spendthrift clauses
{November 5th, 2024} by Tobias Salinger
Financial advisors and tax professionals seeking to help clients protect trust assets in the event of divorce, lawsuits or an extravagant heir should know the basics of a spendthrift clause. An ever-growing alphabet soup of trust entities enable planners to assist clients in moving assets out of their taxable estates. However, without the right so-called […]
Read Newsmax: Like Jimmy Carter, You (or Your Spouse) Might Live to 100: Opinion
{November 5th, 2024} by Ken Nuss
Jimmy Carter recently became the first president to reach 100 years old. Fortunately, he’s had no worries about running out of money. His net worth is estimated at $10 million, and his presidential pension is $246,424 in 2024. Nice work if you can get it! Read Newsmax: Like Jimmy Carter, You (or Your Spouse) Might Live […]
Applications Of AI In Life Insurance
{November 5th, 2024} by Ken Leibow
AI is increasingly woven into the fabric of our daily lives—from smartphones and home appliances to the latest cars and trucks. The life insurance industry is no exception, with many vendors integrating AI into their products and services. First a quick plug for InsurTech Navigator AI, developed by my company InsurTech Express. This AI-powered platform […]
I Bought An Annuity With A GLWB Rider
{November 5th, 2024} by Charlie Gipple, CFP, CLU, ChFC
I once spoke to an agent that had called me up to discuss a YouTube video where he saw me discussing Annuity GLWB (Guaranteed Lifetime Withdrawal Benefits) riders and how they have never been more lucrative from a standpoint of the levels of guaranteed lifetime income that they are currently offering. He was a novice […]
Broker Words—November/December 2024
{November 5th, 2024} by Stephen Howard
Our November/December cover expresses a yearning for my image of the press of the past and a more divergent expression of thought. Timely perhaps, as I have to admit I hate election years now. The two year cycle is bad enough, but the four year cycle is the worst by far. I don’t have overwhelming […]
Advisor to SEC: show the court your guidance on commission payments
{November 5th, 2024} by John Hilton
A Massachusetts financial advisor also licensed as an insurance agent is asking a judge to force the Securities and Exchange Commission to explain its stance on commission payments. In March 2023, the SEC filed charges against Jeffrey Cutter and his advisory firm, Cutter Financial Group for “recommending that their advisory clients invest in insurance products that paid Cutter […]
Lincoln Financial delivers nuggets of good news, along with $528M Q3 loss
{November 5th, 2024} by John Hilton
Main takeaway: Lincoln Financial executives gave plenty of reasons Thursday for Wall Street analysts to feel good about its future: strong annuity sales, a new Bermuda reinsurer, and a new company branding effort. Stll, the insurer’s bumpy financial road continues as it took another quarterly loss – this time, $528 million – attributed to one-time charges. Christopher […]
Insurers, regulators race to harness power of AI
{November 5th, 2024} by John Hilton
The business of insurance is powered by data. Always has been. Data sharpens underwriting decisions, produces the most accurate risk assessments and helps to better connect insurance producers with potential buyers. Click HERE to read the full story via INN
Economic conditions, income needs drive big annuity sales, LIMRA says
{November 5th, 2024} by Staff Reports
Strong economic conditions and a growing awareness of the power of guaranteed income continued to drive record-setting annuity sales through the third quarter, LIMRA reported. Total annuity sales increased 29% year over year to $114.6 billion in Q3, according to preliminary results from LIMRA’s U.S. Individual Annuity Sales Survey. This is the 16th consecutive quarter […]
Prudential rides five $1B-selling annuity products to solid Q3
{November 5th, 2024} by John Hilton
Main takeaway: Booming annuity sales helped Prudential record strong performance in its retirement businesses during a successful third quarter. The insurer recorded net income of $448 million, a turnaround from a net loss of $802 million in the year-ago quarter. Executives discussed the results with Wall Street analysts early Thursday. Click HERE to read the […]
Survey finds some support for DOL fiduciary rule
{November 5th, 2024} by Doug Bailey
A new survey of financial professionals shows surprising and almost uniform support for the Department of Labor’s Retirement Security Rule that would require insurance brokers who provide retirement planning services be held to a fiduciary standard. The survey of more than 230 advisors by DPL Financial Partners, fee-only advisors were more likely to strongly agree […]
Prudential Financial, Inc. Announces Third Quarter 2024 Results
{November 5th, 2024} by Prudential Financial, Inc.
NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) today reported third quarter results. Net income attributable to Prudential Financial, Inc. was $448 million ($1.24 per Common share) for the third quarter of 2024, compared to a net loss of $802 million ($2.23 per Common share) for the third quarter of 2023. After-tax adjusted operating income was […]
Protective Closes ShelterPoint Acquisition
{November 5th, 2024} by Protective Life Corporation
BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation, a U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), is proud to announce that its principal subsidiary, Protective Life Insurance Company (together “Protective”), completed the acquisition of ShelterPoint Group, Inc., the holding company of ShelterPoint Life Insurance Company and its wholly owned subsidiary ShelterPoint Insurance Company (together “ShelterPoint”). ShelterPoint is a leading provider […]
Horace Mann reports third-quarter 2024 results
{November 5th, 2024} by Horace Mann Educators Corporation
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 growth and value equity in the Financials sector, today reported financial results for the three and nine months ended September 30, 2024: Diversified business delivered third-quarter net income of $34 million, or $0.83 […]
Americans Lack Plans for Retirement Income, Allianz Life Study Finds
{November 5th, 2024} by Allianz
MINNEAPOLIS–(BUSINESS WIRE)–Many Americans lack a plan for how they will draw from their retirement savings for income in retirement and worry about the funds lasting for their lifetime, according to the 2024 Annual Retirement Study* from Allianz Life Insurance Company of North America (Allianz Life). Less than half of Americans (44%) say they currently have […]
North American and AMS Financial Services Group Announce Max Elite Annuities
{November 5th, 2024} by Sammons Financial Group
WEST DES MOINES, Iowa–(BUSINESS WIRE)–North American Company for Life and Health Insurance® (North American), an A+ rated carrier3 and member company of Sammons® Financial Group and one of the largest issuers of fixed index annuities (FIAs) in the U.S.1, is partnering with AMS Financial Services Group, a long serving financial solutions provider. Today the two companies announce the addition of a […]
Equitable Holdings Reports Third Quarter 2024 Results
{November 5th, 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 third quarter ended September 30, 2024. “Our third quarter results highlight sustained organic growth momentum across the company. Non-GAAP operating earnings per share of $1.53 increased 34% from the prior year quarter and were up 22% […]
Jackson Increases Access to RILA Product through Distribution Partnership with JPMorganChase
{November 5th, 2024} by Jackson National Life Insurance Company
ANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company (Jackson®), the main operating subsidiary of Jackson Financial Inc.2 (NYSE: JXN), today announced it is partnering with JPMorganChase to offer its registered index-linked annuity (RILA), Jackson Market Link Pro II®, to the approximately 5,000 financial professionals at J.P. Morgan Wealth Management. “We are proud to expand our partnership with JPMorganChase, […]
Corebridge Financial Announces Third Quarter 2024 Results
{November 5th, 2024} by Corebridge Financial, Inc
HOUSTON–(BUSINESS WIRE)–Corebridge Financial, Inc. (“Corebridge” or the “Company”) (NYSE: CRBG) today reported financial results for the third quarter ended September 30, 2024. Kevin Hogan, President and Chief Executive Officer of Corebridge, said, “We had a very strong quarter as Corebridge grew operating earnings per share by 31% year over year to $1.38. At the same […]
Nearly 60 percent of future retirees think they will need a paycheck in retirement that’s as big or bigger than what they receive today to live comfortabl
{November 5th, 2024} by Northwestern Mutual
MILWAUKEE, Oct. 29, 2024 /PRNewswire/ — The oldest members of Generation X will turn 60 next year and many are starting to think about retirement. Meanwhile, 58% of Gen X’ers and 64% of Boomers+ who are not yet retired say they expect their monthly income in retirement will need to be the same or more as their current […]
CNO Financial Group Reports Third Quarter 2024 Results
{November 5th, 2024} by CNO Financial Group, Inc.
CARMEL, Ind., Oct. 31, 2024 /PRNewswire/ — CNO Financial Group, Inc. (NYSE: CNO) today reported net income of $9.3 million, or $0.09 per diluted share, in 3Q24 compared to $167.3 million, or $1.46 per diluted share, in 3Q23. Non-economic accounting impacts due to market volatility affected both periods which reduced net income in 2024 and increased it in 2023. Net operating income,(1) which excludes these non-economic accounting […]
Navigating Digital Transformation In The Life Insurance Industry
{November 5th, 2024} by Ken Leibow
In today’s rapidly evolving digital landscape, the life insurance industry stands at a crossroads, balancing the promise of technological advancement with the practical challenges of integration and optimization. As Independent Marketing Organizations (IMOs) and Brokerage General Agencies (BGAs) embrace a plethora of software solutions designed to enhance operational efficiency, the necessity for effective implementation becomes […]
Layin’ It on the Line: Fixed index annuities – The safe harbor for retirees in a volatile economy
{November 5th, 2024} by Lyle Boss
If you’re nearing or already in retirement, the recent market volatility might be giving you pause. With economic uncertainty, rising inflation and stock market fluctuations, protecting your hard-earned nest egg becomes more challenging — and more critical — than ever. For baby boomers, seniors and retirees, ensuring that your savings not only last but also […]
The money must go somewhere
{November 5th, 2024} by Roger Aucoin
Over the past several years, record-breaking fixed-rate deferred annuity sales have been driven by elevated interest rates and the fact that they offer much more yield than money markets and low certificate of deposit rates do. FRDs’ rate appeal — along with complete protection of principal — means clients can rest easy knowing that no […]
Community Insurance Partners Joins with Integrity to Deliver Extended Care-Focused Solutions to Communities in Need
{November 5th, 2024} by Integrity Marketing Group, LLC
DALLAS – OCTOBER 29, 2024 – 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 Community Insurance Partners, based in Mobile, Alabama, and led by Jason Jones. Financial details of the partnership were not disclosed. Jones […]
Annuity sellers need to work harder to satisfy customers, J.D. Power finds
{October 29th, 2024} by John Hilton
A new J.D. Power survey finds that 43% of producers fill out annuity applications for their clients. Not surprisingly, they are the buyers least likely to understand what they bought. The majority (59%) of current annuity customers struggle with their financial health and many do not fully understand the products they are buying, concluded the J.D. […]
With lives saved, Hancock expands its longevity view of life insurance
{October 29th, 2024} by Doug Bailey
Kelley King thought taking a five-minute blood test called Galleri offered by his life insurance company would qualify him for points that would win him a premium discount. By joining the health program, he’d already qualified for a free Apple Watch, so he figured the blood test might push him into “Platinum” status and make […]
IUL: What you need to know about commissions
{October 29th, 2024} by Drew Gurley
Flexibility in a life insurance policy is a great benefit for customers. It’s a big reason why the wide range of universal life products have been so popular. However, flexibility in insurance often brings with it a more complex product, which can cause problems for both customers and agents. Among the family of universal life […]
AM Best ratings face pushback from some insurers
{October 29th, 2024} by Doug Bailey
The market dominance and fairness of the world’s oldest credit rating agency, AM Best, has come under fire recently as some insurers have questioned its methods and bemoaned its stranglehold on the industry. AM Best, which has provided insurance industry credit reviews since 1899, is considered the “gold standard” in ratings, akin to the Good […]
KKR incorporates annuity company into massive investing juggernaut
{October 29th, 2024} by John Hilton
Main takeaway: Three areas contributed to KKR’s massive third-quarter financial performance, executives said today. KKR’s bottom-line numbers sparkled: Adjusted net income rose 58% to $1.24 billion, easily topping Wall Street expectations. Fee-related earnings rose 79% to a record $1 billion, driven by management fees and fees for arranged financing. Click HERE to read the full […]
Women tend to seek other women’s advisor recommendations, Edward Jones finds
{October 29th, 2024} by Steve Randall
With women controlling more wealth in the US today, the importance of advisors ensuring they offer a service that works for female clients is clear, and that includes how it impacts referrals. Click HERE to read the full story via InvestmentNews Wink’s Moore on the Market: We need more women in this business! Here’s […]
Is America headed for a retirement crisis?
{October 29th, 2024} by Gregg Greenberg
John Hancock Retirement CEO Wayne Park weighs in on America’s retirement readiness. Click HERE to read the full story via InvestmentNews Wink’s Moore on the Market: “Most respondents feel like their retirement is a priority, yet just north of 25 percent feel like they’re on track. And that’s definitely the story for the Gen […]
‘I own my home’: I’m 74 with $300,000 in annuities and live modestly. What should I do with my retirement savings?
{October 29th, 2024} by Alessandra Malito
What would you suggest I should do with my retirement savings? I have $300,000-plus invested in insurance annuities maturing this month. They have been doing OK and I figured annuities would be the safest bet, as I am not very savvy with the stock markets. Click HERE to read the full story via MSN […]
National Retirement Security Month: A time for pre-retirees to come up with a ‘formal written plan’
{October 29th, 2024} by Lynn Cavanaugh
October is National Retirement Security Month, a time for financial advisors to encourage consumers nearing retirement to take actionable steps toward their future financial security – and that means help them come up with a formal written retirement plan. Six in 10 retirees and pre-retirees say they would be willing to pay $100 or more for a […]
Ameriprise Plans to Keep Its Long-Term Care Insurance Block
{October 29th, 2024} by Allison Bell
Ameriprise Financial likes its closed block of long-term care insurance policies and has no plans to make a deal to get rid of it. Walter Berman, the Minneapolis-based company’s chief financial officer, stood up for the company’s LTCI block last week during a conference call with securities analysts. Click HERE to read the full story […]
Annuities Aren’t the Problem. Commissions Are.
{October 29th, 2024} by Kenneth Corbin
Within the financial services world, few products kindle stronger opinions than annuities. The promise of lifetime income is undeniably alluring at a time of mounting anxiety about the solvency of Social Security and when individuals are more responsible than ever for funding their own retirement. Click HERE to read the full story via MSN. […]
NAIFA celebrates Long Term Care Awareness Month
{October 29th, 2024} by NAIFA
November is National Long-Term Care Awareness Month, an annual campaign to raise awareness about the need for long-term care (LTC) planning and the financial, emotional, and physical impacts associated with it. The campaign is aimed at educating the public about the importance of preparing for the potential need for long-term care services, which include assistance […]
Even Commissioned Advisors Think Annuity Sales Need Fiduciary Standard
{October 29th, 2024} by Tracey Longo
As Americans scramble to fund 30 years of retirement, their quest for guaranteed income has led them to annuities, doubling sales in the industry over the past four years to $1.3 trillion. That’s likely to accelerate as some 13,000 Americans turn age 65 each day. But what most consumers don’t know is the insurance brokers […]
F&G Annuities & Life Announces Third Quarter 2024 Earnings Release and Conference Call
{October 29th, 2024} by F&G Annuities & Life, Inc.
DES MOINES, Iowa, Oct. 23, 2024 /PRNewswire/ — F&G Annuities & Life, Inc. (NYSE: FG) (“F&G”), a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, will release third quarter 2024 earnings after the close of regular market trading on Wednesday, November 6, 2024. A webcast and conference call to discuss the results will follow […]
Fidelity National Financial Announces Third Quarter 2024 Earnings Release and Conference Call
{October 29th, 2024} by Fidelity National Financial, Inc.
JACKSONVILLE, Fla., Oct. 23, 2024 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF) (“FNF”), a leading provider of title insurance and transaction services to the real estate and mortgage industries and a leading provider of insurance solutions serving retail annuity and life customers and institutional clients through its majority-owned, publicly traded subsidiary F&G Annuities & Life, Inc. (NYSE:FG) (“F&G”), […]
Principal Financial Group Announces Third Quarter 2024 Results
{October 29th, 2024} by Principal Financial Group
DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) announced results for third quarter 2024. Third Quarter 2024 Highlights Net loss attributable to Principal Financial Group (PFG) of $220 million, or $0.95 per diluted share, driven by the loss from exited business Non-GAAP net income attributable to PFG, excluding exited business, of $419 million, or $1.78 per […]
Marketing Communications Specialist: Legacy Marketing Group
{October 29th, 2024} by Legacy Marketing Group
Job Title: Marketing Communications Specialist Reports To: Jennaca Markoe, Communications Manager Department: Marketing Communications Position Type:: Full-time, exempt, remote Hours: 8:00 am – 5:00 pm PST Salary Range: $72,000 – $79,000 Position Summary: An integral member of the Communications Team, the Marketing Communications Specialist will be responsible for strategizing marketing campaigns and initiatives, developing marketing […]
Barclays Transitions Indices, Available Exclusively on North American Annuities, win 2024 Annuity Index of the Year by SRP Americas
{October 29th, 2024} by Sammons Financial Group
WEST DES MOINES, Iowa–(BUSINESS WIRE)–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, announces that the Barclays Transitions Indices, available exclusively on their suite of fixed index annuities, has won “Annuity Index of the Year” by SRP Americas. […]
Ameriprise Financial Reports Third Quarter 2024 Results
{October 29th, 2024} by Ameriprise Financial, Inc.
MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP): Earnings Per Diluted Share Return on Equity, ex AOCI (1) Q3 2024 Q3 2024 GAAP $ 5.00 GAAP 40.1 % Adjusted Operating $ 8.10 Adjusted Operating 49.6 % Adjusted Operating, excluding unlocking and severance expense $ 9.02 Adjusted Operating, excluding […]
F&G’s Fifth Annual Risk Tolerance Tracker Finds Inflation, U.S. Presidential Election and Cyberfraud Top of Mind for American Investors
{October 23rd, 2024} by F&G Annuities & Life, Inc.
DES MOINES, Iowa, Oct. 16, 2024 /PRNewswire/ — American investors1 are keeping a close eye on the economy and the nation’s capital according to a new survey from F&G Annuities & Life, Inc. (NYSE: FG) (F&G), a leading provider of insurance solutions serving retail annuity and life customers and institutional clients. F&G’s fifth annual Risk Tolerance Tracker asked American investors […]
Jackson Adds Guaranteed Minimum Accumulation Benefit to Elite Access® Variable Annuity Suite
{October 23rd, 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 launched Principal Guard, an add-on guaranteed minimum accumulation benefit (GMAB) available for an extra charge in the Elite Access® Suite of variable annuities. The new GMAB offers clients the ability to invest their money with no downside risk through a selected […]
24 Facts That Illuminate Women’s Precarious Retirement Prospects
{October 23rd, 2024} by Transamerica Center for Retirement Studies
New report examines the retirement risks, realities, and preparations of women workers LOS ANGELES, Oct. 22, 2024 /PRNewswire/ — Only 16% of women workers are “very confident” that they will be able to fully retire with a comfortable lifestyle, according to 24 Facts About Women’s Retirement Outlook, a survey report released today by nonprofit Transamerica Center for Retirement Studies® (TCRS) in […]
OneAmerica Financial® Launches Asset Care® 2024
{October 23rd, 2024} by OneAmerica Financial
INDIANAPOLIS, Oct. 21, 2024 /PRNewswire/ — OneAmerica Financial® is proud to announce the launch of Asset Care® 2024 (Asset Care), an enhanced product that can help enable clients to cover long-term care (LTC) expenses if they need it — or leave a financial legacy to their loved ones if they don’t. Solutions delivered with flexibility and care, Asset Care […]
Gainbridge® and RetireOne® Partner to Offer Innovative Annuity Products to Registered Investment Advisors
{October 23rd, 2024} by Gainbridge
ZIONSVILLE, Ind.–(BUSINESS WIRE)–Gainbridge®, through its Group 1001 affiliate, announced today a partnership with RetireOne, the leading independent platform in the annuity marketplace for registered investment advisors (RIAs). RetireOne, an outsourced insurance desk, provides RIAs and their customers valuable solutions that are simple to use, easy to understand, and delivered with outstanding service. RIAs now have […]
MassMutual Becomes First U.S. Insurer to Offer Policyowners Free Access to AI-Guided Mental Health Support
{October 23rd, 2024} by MassMutual
SPRINGFIELD, Mass. & BOSTON–(BUSINESS WIRE)–MassMutual today announced it is the first insurer in the U.S. to offer eligible policyowners free access to Wysa Assure, an AI-powered conversational mental health app created by Wysa and Swiss Re. This offering is the latest addition to MassMutual’s Health and Wellness Program, which provides policyowners with knowledge about their health, empowers them to seek […]
LPL Blasts Ameriprise Recruiting Suit as ‘Public Relations Stunt’
{October 23rd, 2024} by Dinah Wisenberg Brin
LPL Financial, facing multiple lawsuits by competitor Ameriprise Financial over advisor recruiting practices, fired back in two cases last week, accusing Ameriprise of abusing the courts and trying to chill competition for financial professionals and clients. “This action is a public relations stunt masquerading as a lawsuit,” LPL said in an Oct. 17 filing in U.S. District […]
Why Monte Carlo Is ‘Pretty Terrible’ for Analyzing Annuities
{October 23rd, 2024} by John Manganaro
Financial planners who rely solely on Monte Carlo analyses to weigh the potential role of annuities in retirement income planning are doing their clients a disservice, according to Derek Tharp, the retirement researcher and financial planning expert. Tharp offered this perspective in a new video assessing the retirement income modeling process posted to his YouTube channel. While noting the […]
Client Sues Barred Broker Over ‘Devastating’ Life Insurance Plan
{October 23rd, 2024} by Dinah Wisenberg Brin
Joshua L. Gottlieb, a former securities broker barred by the Financial Industry Regulatory Authority in 2017, faces a lawsuit from a client who alleges he suffered a “devastating” financial loss after buying a recommended life insurance program that was meant to secure a comfortable retirement and provide $12 million for his heirs. Oregon resident Scott Alldridge and […]
An incredible ride — With Integrity CEO Bryan Adams
{October 23rd, 2024} by Paul Feldman
Integrity Marketing Group may not have started in 2006 had it not been for Bryan Adams’ job folding shirts in a shopping mall clothing store while in college. “One day, I was standing there and saw a sharply dressed guy — I’ll never forget him — gray suit, red tie, white shirt. He looked like a […]
Key person insurance: A vital tool for startups
{October 23rd, 2024} by Jonathan Selby
Key person insurance, or contract frustration insurance, is a crucial risk management strategy for startups that rely heavily on specific individuals for their success. This type of insurance provides financial protection in the event of a key employee’s death or disability, ensuring business continuity and mitigating potential financial losses. Let’s review how this policy can […]
CNBC Halftime Report Zinnia Todd Boehly Michele Trogni
{October 23rd, 2024} by Zinnia
Transcript Hi. Welcome back to the halftime before. We’re live, as I said, today from the Case Alternative Investment Summit in Beverly Hills, California. One of private equity’s most renowned investors has made insurance a key part of his firm’s growth strategy. In a CNBC exclusive interview, Eldridge cofounder and CEO Todd Boehly joins us now with Michelle Troney. She’s the CEO of Zinnia, a tech performer, a platform disrupting, industry. We’re also, it’s also an Eldridge portfolio company. I have to say welcome. It’s great to have you vote, with us. Michelle, welcome to you. Click HERE to view Wink’s Moore on the Market: So great to put a face with Michele Trogni of Zinnia‘s name. And Todd Boehly of Eldridge Industries too! It looks like Zinnia is all about increasing market share. Other technology platforms- be warned. […]
1/3 of investors expect recession if their favored candidates lose
{October 23rd, 2024} by Press Release
COLUMBUS, Ohio – Touted as one of the most consequential elections in decades, the 2024 presidential and congressional races could pose significant distractions for voters – particularly when it comes to their financial plans and portfolios. A majority (55%) of investors believe the results of the 2024 U.S. federal (presidential and congressional) elections will have a […]
Annuity confusion crimps customer satisfaction, finds JD Power
{October 23rd, 2024} by Leo Alamazora
A new study from JD Power reveals that a significant portion of individual annuity customers face challenges regarding their financial health and a clear understanding of the products they are purchasing. Click HERE to read the full story via InvestmentNews Wink’s Moore on the Market: “A new study from JD Power reveals that a […]
IUL: What you need to know about commissions
{October 23rd, 2024} by Drew Gurley
Flexibility in a life insurance policy is a great benefit for customers. It’s a big reason why the wide range of universal life products have been so popular. However, flexibility in insurance often brings with it a more complex product, which can cause problems for both customers and agents. Among the family of universal life […]
Insurance regulators urged to get serious with receivership database
{October 23rd, 2024} by John Hilton
Peter Gould is a policyholder and a realist who knows that insurers will sometimes fail. But he wants the comfort of knowing that regulators are at least learning from those receivership cases. He’s not convinced they are. Click HERE to read the full story via INN
Globe Life to report third-quarter results amid swirling controversy
{October 23rd, 2024} by John Hilton
Globe Life executives are slated to meet with Wall Street analysts Thursday in a call that is much more interesting than it was two weeks ago. The insurer is expected to share numbers from a successful third quarter. But ongoing court cases and a troubling data breach are sure to be discussed. Click HERE to read the […]
Retirement Income, Longevity Risk and Liquidity Needs— Striking a Balance
{October 23rd, 2024} by Ted Godbout
A drawdown withdrawal strategy paired with guaranteed income from a deferred annuity can provide a high level of retirement income, while maintaining adequate liquidity for retirees. So argues a new white paper by T. Rowe Price. The paper comes as conversations about retirement have been dominated by the saving or accumulation phase, but the emphasis […]
Regulators tweak 2025 life and annuity priorities to reflect new challenges
{October 23rd, 2024} by John Hilton
State insurance regulators advanced 2025 life insurance and annuity priorities Monday with additions to reflect new efforts in reinsurance and annuity illustrations. The Life Actuarial Task Force 2025 charges include a new charge: “Coordinate with the Reinsurance (E) Task Force on actuarial items related to reinsurance.” Click HERE to read the full story via INN
Bill to kill SEC’s RILA registration system puzzles many, faces little hope of passage
{October 16th, 2024} by Doug Bailey
A Republican Congressman’s bill to kill the SEC’s new registration system for index-linked (RILA) and market value adjustment annuities (MVA) perplexed industry groups and consumer advocates who strongly supported the rule. Rep. Gary Palmer, R-Ala., introduced House Joint Resolution 209, which would express congressional disapproval of the new RILA and MVA registration regulations. Adoption of […]
New RILA makes Corebridge the biggest company with full annuity suite
{October 16th, 2024} by John Hilton
Corebridge Financial recently launched its much-anticipated registered indexed-linked annuity, making the company the only biggest annuity seller to offer products in every major category. During recent quarterly earnings calls, Executives expressed high expectations for the new MarketLock Annuity. Corebridge subsidiary American General Life Insurance Co will issue the product. Click HERE to read the full […]
How reinvented annuities can help build security in retirement
{October 16th, 2024} by Sara Belcher
Annuities historically have not had a good reputation for helping Americans save for retirement, mostly due to their costs. However, recent changes in how annuities can be included in certain types of investment funds, such as 401(k) plans, are making them a popular option for retirement savers again. “When you want to retire, … you have […]
‘Dawn of a new era’: Insurance chatbot industry to hit $4.5B by 2032
{October 16th, 2024} by Rayne Morgan
The global insurance chatbot market has experienced such enormous growth since the advent of the COVID-19 pandemic that it’s expected to hit nearly $4.5 billion by 2032, according to a report by Allied Market Research. While this kind of technology was already in the works before, the pandemic accelerated its development and adoption in sectors […]
Millennials Set to Inherit Majority of Assets in Great Wealth Transfer
{October 16th, 2024} by Amanda Umpierrez
By 2030, over $30 trillion in assets will move to surviving successors, as a part of what the retirement planning industry has dubbed “the great wealth transfer.” A new study aims to help financial professionals better understand the sizable wealth shift. Commissioned by Equitable and conducted by The Wall Street Journal’s Intelligence unit, the study analyzes findings from […]
New Research From Fidelity® Shows 71% of Women Own Investments in the Stock Market
{October 16th, 2024} by Fidelity Investments
BOSTON–(BUSINESS WIRE)–More women are taking control of their finances and investing than ever before, according to new research from Fidelity Investments®. Fidelity’s 2024 Women & Investing Study finds 7-in-10 women own investments in the stock market, an 18% increase compared to 2023. While younger generations continue to invest in higher numbers, the percentage of Gen X and […]
Simpler Horizons Insurance Solutions and Integrity Partner to Expand Medicare Offerings through Enhanced Client-Centered Approach
{October 16th, 2024} by Integrity Marketing Group, LLC
DALLAS – OCTOBER 15, 2024 – 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 Simpler Horizons Insurance Solutions (“Simpler Horizons”) a leading independent marketing organization based in Los Angeles, California, and led by Elka Soussana. Financial details […]
Annuities Can Provide Tax Bracket Cushions
{October 16th, 2024} by Allison Bell
Ordinary annuities convert the premiums into vehicles with distribution that are set to be taxed, eventually. Traditionally, many wealth managers have scoffed at the idea of using annuities for that reason and focused instead on careful efforts to use whole life insurance and other forms of cash-value life insurance. But Justin Haywood, a certified financial […]
U.S. Needs Bermuda to Boost Annuity Supply, Regulators Say
{October 16th, 2024} by Allison Bell
U.S. regulators are thinking about how Bermuda’s reinsurance market can help create an adequate supply of life insurance policies and annuities as well as the need to maintain high safety standards. Andrew Mais, the Connecticut insurance commissioner and National Association of Insurance Commissioners president, talked about the product supply problem recently at a life and annuity […]
Best & Worst Life Insurance Providers: J.D. Power, 2024
{October 16th, 2024} by Allison Bell
One of the main issues holding down satisfaction scores for U.S. individual life insurance this year was confusion, according to J.D. Power. The Troy, Michigan-based consumer satisfaction measurement firm revamped its life insurance survey program this year. The new results can’t be compared with results from 2023 or earlier. Click HERE to read the full story […]
FIAs ‘at a sweet spot right now,’ Security Benefit exec says
{October 16th, 2024} by Susan Rupe
The Federal Reserve made headlines in September by slashing its benchmark interest rate by a half-point. That direction of lowering interest rates makes it a good time for clients to lock in rates on investments such as fixed annuities before rates go down even further. David Byrnes, senior vice president and chief distribution officer at Security Benefit, […]
Longer lifespans mean redefining retirement
{October 16th, 2024} by Susan Rupe
Americans are living longer and that means the traditional view of retirement must change, said Ken Dychtwald, president of Age Wave. Dychtwald is a psychologist, gerontologist and the author of 19 books. He discussed how America’s changing demographics are impacting what it means to be older during a session at the Alliance for Lifetime Income […]
Study: Consumers find life insurance policies overly complex
{October 16th, 2024} by Wire Reports
Despite efforts to improve customer communications, life insurers are seen as unnecessarily complicating explanations of their policies, according to the J.D. Power 2024 U.S. Individual Life Insurance Study released Thursday. This perception is most pronounced among younger customers, including Gen Zers, according to the study. “Life insurers are facing new communication challenges as they court younger […]
Regulators opt for narrow scope with offshore reinsurance guideline
{October 16th, 2024} by John Hilton
State insurance regulators trying to get better control of offshore reinsurance reserves opted for a “narrow scope” with a new guideline. The Life Actuarial Task Force met Thursday to begin debate on its Asset Adequacy Testing Actuarial Guideline. The so-called “straw man draft” was introduced by Fred Anderson of the Minnesota Department of Commerce and […]
Retirement in America is a disaster for many. Is there hope?
{October 16th, 2024} by Kerry Hannon
For 72-year-old Jacqueline Withers, retirement has been rocky. And she’s not alone, as it turns out. Eight years ago, the Jacksonville, N.C. resident stepped away from her job as a home healthcare aide because of a heart condition. She tapped into her Social Security. But it was not — then or now — enough to […]
Rep Forged Signatures on Hundreds of Insurance Documents: FINRA
{October 16th, 2024} by Melanie Waddell
The Financial Industry Regulatory Authority has fined a broker $7,500 and suspended him for one year for forging and/or falsifying customer signatures on hundreds of insurance account documents. Click HERE to read the full story via Think Advisor. Wink’s Moore on the Market: Warning: unpopular opinion. Only $7,500‽ And a suspended license for one year‽ […]
At 70, I’ve been retired for 7 years with an $80K annual retirement income. I have $200K in CDs, but they’re coming due. What’s my move?
{October 16th, 2024} by Alisa Wolfson
Question: “I’m 70 and have been retired for seven years. I have $80,000 in annual retirement income from three retirement accounts, Social Security and a paid off rental home. My house is also paid for and the related bills I have are taxes, insurance and utilities. I have $200,000 in certificates of deposit. What do I […]
What you need to know about annuities as you near retirement
{October 16th, 2024} by WUSA9
Vanessa Patterson tells us what we need to know about annuities as we near retirement. Sponsored by: New Perspective Financial Solutions. Wink’s Moore on the Market: This “news” segment made me cringe. NEWSFLASH: Indexed annuities are not right for everyone! And I don’t even understand what was going on with the “insure/ensure” discussion. A BIG […]
Blanchett: Advisors Say They Discuss These 7 Retirement Issues. Clients Disagree.
{October 16th, 2024} by John Manganaro
There are notable gaps in the retirement income planning services financial professionals think they are providing to clients compared with the services investors are actually reporting they receive, according to the latest research from David Blanchett, managing director and head of retirement research for PGIM DC Solutions. Click HERE to read the full story via Think […]
Shaquille O’Neal drops the secret to his wealth-And it’s not what you think!
{October 16th, 2024} by Marca English
When Shaquille O’Neal talks about his fortune, people listen. The NBA legend, known for extravagant car collections and business acumen, recently unveiled the secret that set him up for life-and it wasn’t advice from Jeff Bezos or a Silicon Valley CEO. Instead, O’Neal shared that the key to his financial success lies in one word: *annuities*. “I had never heard of annuities before,” Shaq […]
Retirees With This Type of Asset Spend Money More Freely, Study Finds
{October 16th, 2024} by Chris Kissell
After decades of piling up money for their golden years, many retirees find it difficult to make the transition from saver to spender. But one group is much more comfortable cracking open their wallets. Retirees who annuitize at least a portion of their income spend twice as much as those who have an equal amount of non-annuitized […]
CC Capital and Westaim to Create Integrated Insurance and Asset Management Platform
{October 16th, 2024} by CC Capital
NEW YORK & TORONTO–(BUSINESS WIRE)–CC Capital, a private investment firm focused on investing in and operating high-quality businesses for the long term, and The Westaim Corporation (“Westaim”) (TSXV: WED) today announced the creation of an integrated insurance and asset management platform through the strategic combination of: Westaim, an investment company specializing in providing long-term capital […]
NYL’s annuities leader on where industry can improve
{October 16th, 2024} by Emile Hallez
Matt Wion did not set out to specialize in the annuities business, let alone end up leading the retail unit of one of the biggest providers in the country. Wink’s Moore on the Market: My buddy Matthew Wion, who heads up annuities for New York Life Insurance Company, sees opportunity for improvement in the […]
Annuity.com Launches New Website for Agents: JoinAnnuity.com
{October 16th, 2024} by Annuity.com
GILBERT, AZ, UNITED STATES, October 10, 2024 /EINPresswire.com/ — Annuity.com, Inc., a leading media and financial technology company, is proud to announce the launch of its new agent-focused website, JoinAnnuity.com. This innovative platform is designed to empower agents with the tools and knowledge they need to own their own agency and participate in the growth of Annuity.com […]
Protective Makes Enhancements to Its Protective® Aspirations Variable Annuity
{October 16th, 2024} by Protective Life Corporation
BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation, a subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750) today announced enhancements to its flagship variable annuity product, Protective Aspirations variable annuity, which is issued by its principal subsidiary Protective Life Insurance Company (“Protective”) and debuted in 2022. These new options were added to provide customers with more choices and flexibility based on […]
Great Wealth Transfer: Equitable Study Shows Trust Is the Top Factor When Choosing a Financial Professional
{October 16th, 2024} by Equitable
NEW YORK–(BUSINESS WIRE)–Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today released a new study, “How to Plan for the Great Wealth Transfer,” aimed at helping financial professionals better understand the characteristics and goals of those who stand to benefit from the great wealth transfer in the United States. The U.S. is undergoing […]
RIAs Are Concerned the Presidential Election Will Impact Equity Values According to Security Benefit’s “RIA Economic Outlook Index”
{October 16th, 2024} by Security Benefit
TOPEKA, Kan.–(BUSINESS WIRE)–Registered Investment Advisors (RIAs) have higher concerns about the overall economic outlook compared to the first half of the year, according to the newest Economic Outlook Index released today by Security Benefit in partnership with Greenwald Research. The index found that the RIA sentiment on economic conditions from a range of 0 (extremely […]
Protective Announces Agreements to Sell Concourse Financial Group Securities and Concourse Financial Group Agency
{October 16th, 2024} by Protective Life Corporation
BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (Protective), a U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), today announced it has reached agreements to sell Concourse Financial Group Securities, Inc. (Concourse Securities) and Concourse Financial Group Agency, Inc. (Concourse Agency). Protective has entered into an asset purchase agreement with Cetera Financial Group (Cetera), which plans to acquire Concourse Securities, and […]
The Standard and Family First Are Collaborating to Support Employees’ Caregiving Needs
{October 16th, 2024} by Standard Insurance Company
PORTLAND, Ore.–(BUSINESS WIRE)–Standard Insurance Company (The Standard), a leading provider of financial protection products and services for employers and individuals, has announced a new relationship with Family First. The Standard’s clients have the option to contract directly with Family First to access expert guidance aimed at addressing the caregiving challenges employees face. Employers and their employees […]
Allianz Is the World’s #1 Insurance Brand, Ranking Among the Top 30 Global Brands for the First Time
{October 16th, 2024} by Allianz SE
MUNICH–(BUSINESS WIRE)–Allianz’s steady rise to the top of the world’s most powerful brands continued in 2024, driven by a strong employee value proposition, a commitment to building trust through sustainability and societal leadership as well as top-tier partnerships in sport. For the first time, Allianz has been named one of the 30 most valuable brands […]
Life Insurers Miss the Mark on Clarity of Information and Personalization—Particularly Among Younger Customers, J.D. Power Finds
{October 16th, 2024} by J.D. Power
TROY, Mich.–(BUSINESS WIRE)–The life insurance industry is at an inflection point. Experiencing persistently slow growth and facing generational shift that is increasingly reliant on converting Millennial1 and Gen Z customers, the industry is working hard to improve customer communications and build trust with new customer segments. According to the J.D. Power 2024 U.S. Individual Life Insurance […]
Nationwide Continues to Lead in Customer Experience, Securing Fifth Consecutive DALBAR Award
{October 16th, 2024} by DALBAR
MARLBOROUGH, Mass., Oct. 10, 2024 /PRNewswire/ — Nationwide has once again proven its unwavering commitment to exceptional customer service, earning its fifth consecutive DALBAR Customer Experience Excellence Award. The award underscores Nationwide’s dedication to providing top-tier service across retirement live phone support channels and digital touchpoints, including online platforms and mobile interfaces. “We are incredibly honored to […]
Simplicity Acquires Concourse Financial Group Agency from Protective Life
{October 16th, 2024} by Simplicity Group
SUMMIT, N.J., Oct. 8, 2024 /PRNewswire/ — Simplicity Group Holdings, Inc. (“Simplicity”), a leading financial products distribution firm, today announced it has acquired Concourse Financial Group Agency (“CFGA”), a brokerage general agency from Protective Life Corporation (“Protective Life”). CFGA, formerly First Protective, is a highly regarded insurance distribution business with a large independent agent and institutional client base […]
Family Financial and Integrity Partner to Provide Greater Financial Security to Underserved Communities
{October 16th, 2024} by Integrity Marketing Group, LLC
DALLAS, Oct. 8, 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 Family Financial and Insurance Services (“Family Financial”), an independent marketing organization based in Arcadia, California, and led by Jack Yiu. Financial details of the partnership were not disclosed. […]
Only 20% of Gen Z are Saving for Retirement, TIAA Institute Study Finds
{October 16th, 2024} by TIAA Institute
Gen Z struggles to associate retirement with the financial freedom they want due to rising living costs and a lack of reliable financial advice. NEW YORK, Oct. 10, 2024 /PRNewswire/ — Unlike their parents, Gen Z is growing up with access to an abundance of financial knowledge, and while they desire independence, they struggle to associate retirement […]
Corebridge Financial Launches Registered Index-Linked Annuity (RILA), Becoming the Only Top 3 Annuity Provider with Products in Every Major Category
{October 8th, 2024} by Corebridge Financial
HOUSTON–(BUSINESS WIRE)–Corebridge Financial today announced the launch of Corebridge MarketLock® Annuity, a registered index-linked annuity (RILA) issued by its subsidiary American General Life Insurance Company. MarketLock features a powerful accumulation strategy exclusive to Corebridge, as well as many of the most popular RILA investment strategies sought by financial professionals and their clients. All the investment […]
Illustration Requirements May Be Up in the Air Again
{October 8th, 2024} by Carlton Fields, Ann Young Black
At the National Association of Insurance Commissioners’ Summer 2024 National Meeting, the Life Insurance and Annuities (A) Committee received a report of its Life Actuarial (A) Task Force and a presentation on indexed universal life (IUL) and fixed indexed annuity (FIA) illustrations. Judith French, director of the Ohio Department of Insurance and chair of the […]
Test Your ‘401(k) Annuity’ Math Skills
{October 8th, 2024} by Kerry Pechter
Actuaries and math puzzle-solvers, here’s a question. Several novel target date funds (TDFs) have come to market in which deferred annuities are embedded as one of the investment sleeves. These TDFs are intended to be distributed through 401(k) plans as qualified default investment alternatives (QDIAs) for auto-enrolled participants. Here’s how they work: When participants who […]
September yields life application gains in younger age groups, MIB says
{October 8th, 2024} by Staff Reports
Life insurance application activity showed gains in the coveted younger age bands during September, according to the MIB Life Index. The month saw year-over-year growth of 2.6% for ages 0-30 and 2.5% for ages 31-50. September 2024 saw similar growth for all face amounts, in the double digits for amounts over $500,000 up to and […]
The Feeling Was De-Mutual
{October 8th, 2024} by Kerry Pechter
Ironically, the bankruptcies of multi-billion dollar life insurers owned by publicly-held Baldwin-United (in 1983), First Executive (1991), and First Capital Holding (1991) didn’t scare major mutual life insurance companies away from changing into stock companies. On the contrary. Starting with The Equitable in 1992, a wave of household-name mutuals would “demutualize” in the 1990s and […]
Protective Life CEO to Chair American Council of Life Insurers Board
{October 8th, 2024} by Allison Bell
The American Council of Life Insurers has picked Rich Bielen, the CEO of Protective Life, to be its 2025 chair. Bielen, who also serves on the board of ProAssurance, a property-casualty insurer, succeeded Paul Quaranto Jr., the chairman and CEO of Boston Mutual Life. The ACLI is a Washington-based group for life and annuity issuers. It […]
Annuities Can Help Clients Survive a Strong Economy: Executive
{October 8th, 2024} by Allison Bell
Life insurers are making the case that a non-variable annuity can also help clients cope with aches and pains caused by a surprisingly good economy. The Bureau of Labor Statistics startled investors today reported that hiring has been stronger than expected, the unemployment rate has fallen to 4.1% and hourly earnings are 4% higher than they were a […]
Top DOL Official Sees a ‘Nonsensical’ Reality at Heart of Fiduciary Fight
{October 8th, 2024} by Melanie Waddell
Atop Labor Department official in charge of spearheading the new fiduciary rule, officially called the Retirement Security Rule, foresees an unlevel playing field in the retirement planning marketplace if the rule is ultimately struck down. At the inaugural Certified Financial Planner Board of Standards Connections Conference in Washington in early October, Ali Khawar, principal deputy assistant secretary for the Employee Benefits Security […]
Here’s How Much Fixing Social Security Could Cost Your Clients
{October 8th, 2024} by John Manganaro
It’s common knowledge among financial advisors and their clients that, unless changes are made to address Social Security’s current funding shortfall, retirees will face a significant reduction in benefits in about a decade. What is less understood, according to HealthView Services CEO Ron Mastrogiovanni, is just how big of a benefit cut could be in store […]
CFP Board Spars With Annuities Industry Over Fiduciary Regulation
{October 8th, 2024} by Tracey Longo
Will commission-based registered representatives and insurance agents really begin to turn away middle-income consumers if the professionals are forced to live with a fiduciary standard that requires them to put customers’ best interest before their own? Jason Berkowitz, a representative of the annuities industry, argued during a nationally broadcast Securities and Exchange Commission panel discussion […]
Northwestern Mutual Sets Off 2025 Dividend Race
{October 8th, 2024} by Nort
Northwestern Mutual has started mutual life insurers’ dividend announcement season by predicting that it will pay $8.2 billion in dividends to its policyholder owners in 2025. Holders of eligible life insurance policies, disability insurance policies and annuities could get 12% more payments next year than they’re on track to get this year. Click HERE […]
Briefs from the ‘Bermuda Triangle’
{October 8th, 2024} by Kerry Pechter
US insurers hold more private equity, but income on PE drops; State Street sued again for recommending Athene in PRT deals; State Street and Apollo to partner on distribution of private assets; Oceanview launches ‘Topsider’ fixed indexed annuity; Munich Re wants to take longevity risk out of life insurers’ PRT deals; LeMay and Bickler to […]
Announcing Penn Mutual’s Increased Dividend Scale for 2025
{October 8th, 2024} by Penn Mutual
September 27, 2024 – Penn Mutual is pleased to share we’re increasing the interest component of our dividend scale for 2025 to 6% for all whole life products. The mortality and expense components within the dividend scale will remain unchanged. For over 20 years, we’ve led the industry in increasing or maintaining our dividend scales, thanks to […]
