The Top 2021 Annuity Issuer Preview
{March 8th, 2022} by Allison Bell
Early, incomplete figures from the National Association of Insurance Commissioners suggest that Jackson Financial was probably the U.S. annuity considerations leader in 2021. The Kansas City, Missouri-based group for state insurance regulators has posted a preliminary version of its latest Life/Fraternal Market Share report. Click HERE to read the full story via ThinkAdvisor
Whole Life Sales Soar
{March 8th, 2022} by Allison Bell
U.S. life insurers are reporting big increases in sales of non-variable individual life insurance products for the fourth quarter of 2021. Combined sales of non-variable indexed universal life and non-variable indexed whole life policies increased 16% between the fourth quarter of 2020 and the fourth quarter of 2021, to $718 million, according to new life […]
Valmark CEO Sees Indexed Universal Life Marketing Woes Getting Worse
{March 8th, 2022} by Allison Bell
Larry Rybka and other life insurance distributors say some insurers are using unrealistic predictions about how indexed universal life (IUL) insurance policies will perform to trick them into using borrowed money to buy the policies. Rybka, CEO of Valmark Financial Group, told the IUL Illustration Subgroup — an arm of the National Association of Insurance […]
Biden Supreme Court Pick Has Been Sympathetic to Insurers
{March 8th, 2022} by Allison Bell
Ketanji Brown Jackson — President Joe Biden’s Supreme Court pick — has ruled in favor of insurers or benefit plans over plaintiffs in a number of federal cases involving life insurance, health insurance and disability insurance. Jackson, 51. is a lawyer who now serves as a judge on the U.S. Court of Appeals for the […]
Regulators Wary Of Disruptions To Hot RILA Market With New Rules
{March 8th, 2022} by John Hilton
Concerns over how much disruption to introduce to the thriving market for indexed-linked variable annuity products dominated a regulator subgroup call today. The Indexed Linked Variable Annuity subgroup is attempting to tweak nonforfeiture rules to better fit the unique ILVA products, also known as registered indexed-linked annuities or structured annuities. The subgroup developed an actuarial […]
Signal Advisors Takes a Big Swing
{March 8th, 2022} by Staff Writers, Sponsored by Signal Advisors
The only technology-enabled IMO, Signal Advisors is now the fastest-growing IMO, too… In 2019, Signal Advisors launched with a simple vision – to be the first IMO built on a technology backbone. And they’ve certainly lived up to that vision. Today, advisors are leveraging a unified technology platform to manage all aspects of their business […]
Annuity Sellers Face Rolling Economic Headwinds
{March 8th, 2022} by John Hilton
The Federation of Americans for Consumer Choice, joined by a number of independent insurance agents and agencies, sued the Department of Labor last month, claiming the new rule improperly “broadens the agency interpretation of who is considered a fiduciary.” For now, the new rules are the rules and will make selling annuities more difficult, said […]
Pacific Life’s Four-Year Reign Ends as Top Seller of Indexed Life
{March 8th, 2022} by Cyril Tuohy
National Life Group dethroned Pacific Life in 2021, after the Newport Beach, Calif., insurer held the top spot for four straight years, according to Wink’s Sales & Market Report. Click HERE to read the full story via LifeAnnuitySpecialist
Principal Financial Group Announces 2022 Outlook
{March 8th, 2022} by Principal Financial Group
DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) announced its 2022 financial guidance today, including strong growth from its refined business portfolio and $2.5-$3.0 billion of planned capital returned to shareholders. The guidance includes the expected impacts of the reinsurance transactions announced in January for the company’s in-force U.S. retail fixed annuity and universal life insurance […]
AM Best Affirms Credit Ratings of Symetra Financial Corporation and Its Subsidiaries
{March 8th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Symetra Life Insurance Company and its subsidiary, First Symetra National Life Insurance Company of New York (New York, NY), together referred to as Symetra Life Group. Concurrently, AM Best has affirmed […]
Fortitude Re Enters Into P&C Reinsurance Transaction
{March 8th, 2022} by FGH Parent, L.P.
HAMILTON, Bermuda–(BUSINESS WIRE)–FGH Parent, L.P., the ultimate parent company of Bermuda’s largest multi-line reinsurer (together with its subsidiaries, “Fortitude Re”), announces the execution of a P&C loss portfolio transfer reinsurance agreement between Fortitude Reinsurance Company Ltd. (“FRL”) and JRG Reinsurance Company Ltd. (“JRG Re”), a subsidiary of publicly-traded James River Group Holdings Ltd. (NASDAQ: JRVR). […]
Insurers Straining Under New Labor Department Rollover Standards
{March 8th, 2022} by Austin R. Ramsey
Insurers and financial brokers who advise workplace retirement clients are feeling pressure from the Biden administration to apply a strict fiduciary standard of care on all their transactions, even when some of those sales wouldn’t qualify under the law. The U.S. Labor Department has begun enforcing a Trump-era regulation that is forcing financial professionals to […]
KBRA Releases Research – Private Equity Investment in the Life-Annuity Market Is Here to Stay
{March 8th, 2022} by KBRA
NEW YORK–(BUSINESS WIRE)–KBRA releases research on the trend of private equity investment in the life and annuity market. The report discusses how the factors driving insurers to divest—as well as the motivations of private equity/alternative asset managers (PE/AAM) to buy—are long-term considerations that will drive this investment trend to continue in the medium term. These […]
Jackson Announces Full Year and Fourth Quarter 2021 Results
{March 8th, 2022} by Jackson Financial
LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc. (NYSE: JXN) today announced financial results for the 12 months and three months ended December 31, 2021. Full Year 2021 and Recent Highlights Completed separation from Prudential plc and listing on the NYSE Approved quarterly cash dividends and a $300 million share repurchase authorization in November with the first dividend payment […]
AM Best Affirms Credit Ratings of Principal Financial Group, Inc. and Its Subsidiaries
{March 8th, 2022} 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 Principal Life Insurance Company and Principal National Life Insurance Company. Both are life insurance operating companies of Principal Financial Group, Inc. (PFG) [NASDAQ: PFG] and collectively are referred to as Principal. […]
USA Life-Annuity Distribution & Marketing Annual 2021 – Weathering the Storm – ResearchAndMarkets.com
{March 8th, 2022} by ResearchandMarkets.com
DUBLIN–(BUSINESS WIRE)–The “United States Life-Annuity Distribution & Marketing Annual – Weathering the Storm” report from Conning, Inc has been added to ResearchAndMarkets.com’s offering. The 2021 Life-Annuity Distribution and Marketing Annual is this in-depth look at key market-facing issues affecting insurers. In this edition, the publisher reviews Covid-19’s financial impact on distribution in 2020. It further examines the role private […]
Fidelity Life: Universal Life Insurance vs. Whole Life Insurance
{March 8th, 2022} by Fidelity Life
CHICAGO, March 04, 2022 (GLOBE NEWSWIRE) — While universal life insurance and whole life insurance are both kinds of permanent life insurance policies that can provide financial security for loved ones, they have several key differences. Universal life insurance may carry more flexibility, while whole life insurance comes with more stability. To find a permanent […]
Nationwide minimum wage now $21 per hour
{March 8th, 2022} by Nationwide
COLUMBUS, Ohio, March 7, 2022 /PRNewswire/ — Along with a market-leading, flexible work model, Nationwide is again raising the minimum wage it will pay for its workforce. The Columbus, Ohio-based Fortune 100 insurance and financial services provider is raising its minimum pay to $21 per hour, effective April 4, which makes it a leading employer providing one of the highest minimum wages in the […]
Kansas City Life Announces Fourth Quarter 2021 Results
{March 8th, 2022} by Kansas City Life Insurance Company
KANSAS CITY, Mo., March 4, 2022 /PRNewswire/ — Kansas City Life Insurance Company recorded net income of $13.1 million or $1.36 per share in the fourth quarter of 2021 compared to a net loss of $0.8 million or $0.07 per share in the fourth quarter of 2020. Net income totaled $10.7 million or $1.11 per share for the year ended December 31, 2021, down from $15.2 million or $1.57 per share for the year […]
Women Investors Pivot to More Proactive Approach in Financial Planning
{March 8th, 2022} by Nationwide
COLUMBUS, Ohio, March 3, 2022 /PRNewswire/ — The onset of the COVID-19 pandemic significantly impacted how women viewed their finances. While one might assume trepidation would be the prevailing sentiment after a tumultuous couple of years, the Nationwide Retirement Institute’s® Advisor Authority study found that women investors (with investable assets of $100,000 or more who are primary or shared decision-makers regarding long-term financial planning […]
Finally, a variable universal life insurance product built for fee-based investment advisors
{March 8th, 2022} by Nationwide
COLUMBUS, Ohio, March 2, 2022 /PRNewswire/ — Nationwide has launched a new variable universal life (VUL) insurance product built specifically for fee-based investment advisors that allows for management of funds within the product without a life license. Nationwide Advisory Variable Universal Life is a permanent life insurance policy with a customizable guarantee that keeps the cost of the protection separate […]
Transamerica Bolsters Pooled Retirement Plan Offerings with the Acquisition of TAG Resources, LLC
{March 8th, 2022} by Transamerica
BALTIMORE, March 1, 2022 /PRNewswire/ — Transamerica announced today the expansion of its pooled retirement plan capabilities with the acquisition of TAG Resources, LLC, a leading retirement services company based in Knoxville, Tennessee. The addition of TAG’s technology and service model will enable Transamerica to further expand its pooled retirement plan offerings to third party administrators (TPAs), financial advisors, […]
National Western Life Group, Inc. Announces 2021 Full Year and Fourth Quarter Earnings
{March 8th, 2022} by National Western Life Group, Inc.
AUSTIN, Texas, March 4, 2022 /PRNewswire/ — Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today 2021 consolidated net earnings of $180.7 million, or $51.10 per diluted Class A common share, compared with consolidated net earnings of $92.3 million, or $26.11 per diluted Class A common share, for 2020. For the three […]
Ameriprise to Host Events to Raise Female Representation
{March 8th, 2022} by Sam Del Rowe
Ameriprise Financial says it will be hosting events that aim to give more women career opportunities at the firm and in the financial services industry. The events, dubbed Career Compass, are designed to help women with different levels of experience explore opportunities on the path to becoming a financial advisor or embarking on another career […]
Life Insurance Buying Experience
{March 8th, 2022} by Aite-Novarica Group
Boston, February 24, 2022 — While the life insurance industry has seen significant digitalization in the last few years—with improved speed, efficiency, and operational capabilities—very few companies have moved beyond e-app, e-signature, and e-delivery capabilities to analyze customers’ and agents’ journey maps and create holistic experiences. In a new Impact Report, Life Insurance Buying Experience: […]
Broker Words—March 2022
{March 8th, 2022} by Broker World
The insurance industry in general, to my mind, is often vilified in the media. During debates about Obamacare many were the pledges that “We won’t let your insurance company…” Insert your own example of actuarial necessity trumpeted as heartless greed-based malfeasance. And my morning newscast is plague-swarmed by Plaintiff’s Best law firms asserting that insurance […]
Women Investors Pivot to More Proactive Approach in Financial Planning
{March 8th, 2022} by Nationwide
COLUMBUS, Ohio, March 3, 2022 /PRNewswire/ — The onset of the COVID-19 pandemic significantly impacted how women viewed their finances. While one might assume trepidation would be the prevailing sentiment after a tumultuous couple of years, the Nationwide Retirement Institute’s® Advisor Authority study found that women investors (with investable assets of $100,000 or more who are primary or shared decision-makers regarding long-term financial planning […]
Conning is Pleased to Announce its Newest Strategic Report- Global Mergers & Acquisitions in the Insurance Industry: 2021 Insurer Edition
{March 8th, 2022} by Conning, Inc.
HARTFORD, Conn., March 2, 2022 /PRNewswire/ — Insurer mergers and acquisitions moderated in 2021, but while the number of global insurance M&A transactions was down relative to the prior year, the total value of 2021’s M&A transactions increased, according to a new study by Conning. There were 1,327 global M&A transactions across the insurance underwriting, distribution, and services […]
TIAA, WNBA, and NCAA Elite Join Forces to Spotlight Retirement Inequality and Close the 30% Retirement Income Gap Between Women and Men
{March 8th, 2022} by TIAA
NEW YORK, March 1, 2022 /PRNewswire/ — TIAA, a leading provider of secure retirements, is shining a light on the staggering 30% retirement income gap between men and women through its new #retireinequality movement. Women still earn less—just 82 cents on the dollar compared to men1. Their unpaid work raising children and caring for elderly family members has widened the […]
Integrity Expands into Employee Group Benefits Market by Partnering with Resource Brokerage
{March 8th, 2022} by Integrity Marketing Group
DALLAS, March 1, 2022 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), an omnichannel insurtech leader in life, health and wealth solutions, today announced it has acquired Resource Brokerage, LLC, a brokerage general agency (“BGA”) located in Schaumburg, Illinois, with a strong group benefits focus. As part of the acquisition, Blair Farwell, Presiden “At Integrity, we want to help all Americans plan for […]
OneDigitalTrust and CUNA Mutual Group’s Preplanning Solutions Division Partner to Offer Digital Estate Planning
{March 8th, 2022} by OneDigital Trust
MCLEAN, Va., March 2, 2022 /PRNewswire/ — OneDigitalTrust’s enterprise-grade estate planning platform will power digital estate planning capabilities offered by CUNA Mutual Group’s Preplanning Solutions under a multi-year strategic partnership agreement between the two companies. McLean, Va.-based OneDigitalTrust, Inc. offers a next-generation digital estate planning platform as a turnkey solution to banking, financial advisory institutions, insurers, and employee […]
Commentary: Why We Must Join Together To Launch A Bold New Era Of Annuity Sales Growth
{March 8th, 2022} by David Macchia
A recent article by Matthew Drinkwater, vice president at Secure Retirement Institute, explained that 47.2 million retired Americans receive a combined income of $1.5 trillion. Some of that income is attributable to annuities. How much? A whopping 3%. Click HERE to read the full story via INN
Legacy Planning? Don’t Sell Life Insurance—Sell What It Can Do
{March 8th, 2022} by Ryan Dahl
“Don’t sell life insurance. Sell what life insurance can do.” Among the many great quotes from Ben Feldman—one of the most successful life insurance agents ever—this one resonates most with me. When you understand all that life insurance can accomplish, this approach can transform your business. Click HERE to read the full story via Broker […]
How RIAs can stay ahead of the competition: Cerulli
{March 8th, 2022} by Editorial Staff
A confluence of competitive threats is eroding the registered investment adviser (RIA) channels’ key differentiating factors, according to the latest report from consulting firm Cerulli Associates: US RIA Marketplace 2021: Meeting the Demand for Advice. Click HERE to read the full story via RIJ
Annuities Gain Momentum with New, Unexpected Audience – Young, Affluent Investors
{March 8th, 2022} by Annuity Brandscape
LIVONIA, Mich., March 01, 2022 (GLOBE NEWSWIRE) — The annuities market is poised for unique and exceptional growth in the coming months, buoyed by interest from an unexpected group—young, affluent investors looking to secure stable retirement income. However, aging and outdated sales models mean most providers are not ready to tap into this rising demand. […]
Investment, Pension, or Annuity? This Fund Is a Hybrid
{March 8th, 2022} by Kerry Pechter
Purpose Financial’s Longevity Pension Fund, introduced in Canada last summer, is designed to provide sustainable income for life with liquidity of principal. Getting SEC approval for its sale as a mutual fund in the US could be a challenge. Click HERE to read the full story via RIJ
Annuity Quick Reference Guide
{March 1st, 2022} by Wink's Intel Pros
“I do not endorse any company/product. It’s not that I want people to buy annuities; I just want them to have credible information about them so that they can make a decision about if they are right for them.” Wink’s CEO, Sheryl J. Moore Click to view Wink’s Annuity Quick Reference by Sheryl J. […]
I am no tax expert.
{March 1st, 2022} by Sheryl J. Moore
I am no tax expert. However, I know that I have people in #TheAlmightyNetwork that are. So, a friend posed this question: Can you fund an annuity with a ROTH account and turn on a Guaranteed Lifetime Withdrawal Benefit rider, giving the client tax-free income for life? If so, which carriers allow it? I’m thinking “YES,” just […]
Hard Core Annuity Users Reveal How Many They Own and Why
{March 1st, 2022} by Cyril Tuohy
Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report, said she saw her 401(k) evaporate into a “201(k)” when the dot.com bubble burst in 2000. The collapse scarred her for life. “I relied on my church just for milk for my kids to get by,” she told Orchard. Today, Moore owns two indexed annuities, […]
Advisors Keep Spurning Annuities Despite Investor Interest In Income
{March 1st, 2022} by Raymond Fazzi
Young adults have a mounting desire for retirement income products, but if it’s annuities they’re looking for, they’re largely on their own, according to a new survey. That’s because the survey, released today by Escalent, also found a continued aversion to annuities among financial advisors, as well as a lack of platforms that allow annuity […]
Rise in Non-Covid-19 Deaths Hits Life Insurers
{March 1st, 2022} by Leslie Scism
U.S. life insurers, as expected, made a large number of Covid-19 death-benefit payouts last year. More surprisingly, many saw a jump in other death claims, too. Industry executives and actuaries believe many of these other fatalities are tied to delays in medical care as a result of lockdowns in 2020, and then, later, people’s fears […]
As Participants Shun Annuities, Some Are Depleting Savings Quickly
{March 1st, 2022} by Rebecca Moore
Asked what they will do with the money in their employer-sponsored retirement account when they retire, nearly one-quarter (23%) of participants surveyed by AllianceBernstein said they would rollover their funds to an individual retirement account, while 18% said they would leave their money in the plan. Five percent indicated they would take a lump-sum distribution. […]
Lawsuits against DOL won’t change client strategy: Reish
{March 1st, 2022} by Editorial Staff
In a webinar this week, attorney Fred Reish of the law firm of Faegre-Drinker noted that his corporate clients are aware of the two federal lawsuits in Texas that are challenging the Biden Department of Labor’s efforts to regulate the way financial advisers can talk to 401(k) participants about rollovers. Click HERE to read the […]
Pan-American Life Insurance Group Reports 2021 Financial Results
{March 1st, 2022} by Pan-American Life Insurance Group
NEW ORLEANS–(BUSINESS WIRE)–Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance throughout the Americas, announced today financial results for the full year ending December 31, 2021. “Over the past two years, as the pandemic has taken its tragic toll, we have upheld our promise to our customers to be there […]
Securian Financial Announces 2021 Results
{March 1st, 2022} by Securian Financial
ST. PAUL, Minn.–(BUSINESS WIRE)–Securian Financial announced 2021 results at its recent annual employee meeting. Revenue and overall sales grew, and the company fulfilled its purpose of being there for people who count on it—including providing nearly $850 million in COVID-19 related death benefits. “2021 was a successful year for Securian Financial despite continued challenges posed […]
Two-Thirds of Investors Cite Growth as Primary Financial Goal1, Says New Data From Lincoln Financial Group as the Company Launches Fixed Annuity Product Enhancement
{March 1st, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–A new study from Lincoln Financial Group (NYSE: LNC) reports that more than two-thirds of surveyed investors – 67% total – cited growth as their primary financial goal.2 Now, the company is reinforcing its commitment to long-term asset growth and portfolio diversity by expanding its flagship fixed indexed annuity, Lincoln OptiBlend®, to include the 1 Year […]
Reliance Standard Launches New Annuity Product: Reliance Accumulator
{March 1st, 2022} by Reliance Standard Life Insurance Company
PHILADELPHIA–(BUSINESS WIRE)–Reliance Standard Life Insurance Company has introduced a new annuity product for use by individuals seeking to preserve capital and generate steady returns. The Reliance Accumulator™ is a fixed index annuity product that builds on the success of Reliance Standard’s legacy Keystone Index annuity, which will continue to remain available. “So we decided to […]
Protective to Host 2022 Annual Company Update Webcast
{March 1st, 2022} by Protective
BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (“Protective”), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750, “Dai-ichi”), will host its Annual Company Update webcast on March 30, 2022, from 10 – 11 a.m. CDT. Company leaders will discuss Protective’s 2021 financial results, current business strategy and 2022 outlook. Updates will be provided by Protective’s President […]
Retirees Depleting Retirement Plan Lump Sums Faster than Five Years Ago
{March 1st, 2022} by Metlife
NEW YORK–(BUSINESS WIRE)–When approaching retirement, employees are faced with a decision that can have lifelong implications: take a lump sum payment or a guaranteed monthly annuity from their employer-sponsored defined contribution (DC) plan. According to MetLife’s 2022 Paycheck or Pot of Gold Study℠, a growing proportion of retirees are depleting their lump sums at faster […]
Defined Contribution Plans and Annuities Amid Volatile Markets
{March 1st, 2022} by David Blanchett
There has been a significant increase in interest surrounding guaranteed income, especially for defined contribution plans recently. However, uptake of annuities in DC plans has been relatively slow despite innovations in the space and a growing agreement regarding their potential value. Products that offer guaranteed income, such as annuities, have the potential to radically simplify […]
Pennsylvania Passes Best Interest Annuity Rule
{March 1st, 2022} by Patrick Donachie
Pennsylvania is the 19th state to pass a “best interest” rule concerning annuity sales and recommendations based on the National Association of Insurance Commissioners’ (NAIC) model rule originally finalized in 2020. Others may follow shortly: North Carolina recently released its own proposed rule, joining several other states considering proposals modeled on the NAIC’s work, according to the […]
Ameritas earns 15th BenchmarkPortal Center of Excellence certification
{March 1st, 2022} by Ameritas
LINCOLN, Neb., Feb. 23, 2022 /PRNewswire/ — For the 15th consecutive year, the Ameritas group division earned BenchmarkPortal’s Center of Excellence certification. To earn it, contact centers must meet or surpass strict standards each year. Because of this, Center of Excellence recognition is one of the most prestigious awards in the customer service and support industry. With […]
Integrity Expands Retirement Planning Expertise by Partnering with The Foschini Group
{March 1st, 2022} by Integrity Marketing Group
DALLAS, Feb. 24, 2022 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), an omnichannel insurtech leader in life, health and wealth solutions, today announced it has acquired The Foschini Group, a retirement planning and registered investment advisor (“RIA”) based in Connecticut. As part of the acquisition, Al Foschini, President of The Foschini Group, will become a Managing Partner in Integrity. Financial […]
Nationwide, Labrador Systems partner to pilot new generation of assistive robots
{March 1st, 2022} by Nationwide
COLUMBUS, Ohio, Feb. 22, 2022 /PRNewswire/ — One of the nation’s largest insurance and financial protection companies is partnering with an early-stage robotics company with a shared vision of helping people remain independent at home as they age or face short term and long-term health issues. Columbus-based Nationwide and Southern California-based Labrador Systems announced today a multi-state pilot program that […]
DALBAR Recognizes AIG Life & Retirement for Award-Winning Customer Experience Across Service Channels
{March 1st, 2022} by DALBAR, Inc
MARLBOROUGH, Mass., Feb. 22, 2022 /PRNewswire/ — DALBAR is excited to announce that AIG Life & Retirement has earned DALBAR’s Customer Experience Excellence Award for the third consecutive year. This award recognizes the work that AIG Life & Retirement has done to ensure an industry-leading customer experience across different service channels. “AIG Life & Retirement continues to make an already […]
FNF Reports Fourth Quarter and Full Year 2021 Financial Results
{March 1st, 2022} by Fidelity National Financial, Inc.
ACKSONVILLE, Fla., Feb. 23, 2022 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE:FNF) (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 FNF’s wholly-owned subsidiary, F&G, today reported financial results for the fourth […]
Nationwide reports record earnings in 2021 for its insurance and financial services business
{March 1st, 2022} by Nationwide
COLUMBUS, Ohio, Feb. 28, 2022 /PRNewswire/ –Nationwide—one of the largest and most diversified insurance and financial services companies in the United States—reported 2021 earnings results today that were the strongest in the Fortune 100 company’s history. These results were achieved all while paying more than $18 billion in claims and benefits payments to its members in a year marked […]
Integrity Partners with J. Helbig & Company to Better Serve Federal Employees with Their Insurance Needs
{March 1st, 2022} by Integrity Marketing Group
DALLAS, Feb. 22, 2022 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), an omnichannel insurtech leader in life, health and wealth solutions, today announced it has acquired J. Helbig & Company, a life and annuities agency serving federal employees. As part of the acquisition, Jim Helbig, President of J. Helbig & Company, will become a Managing Partner in Integrity. Financial […]
Let’s Rename Retirement
{March 1st, 2022} by Harry N. Stout
We call it retirement. Today it is not. A new reality is apparent for millions of Americans. Most of us dream of the time when we finally stop having to work full-time. It is the event that allows us to regain control of our time such that each day is a weekend. I believe we […]
Duguay to Lead Life Insurers Council Board
{March 1st, 2022} by Allison Bell
Francois Duguay is taking over from Byron Allen as the chair of the LOMA Life Insurers Council (LIC) advisory board for 2022. Duguay is the chief actuary at Optimum Re Insurance Co., a Dallas-based arm of the Optimum Group of Montreal. The reinsurer is best known for its life insurance and critical illness insurance operations. […]
Life Rating Analysts Start to Think About Ukraine
{March 1st, 2022} by Allison Bell
Rating analysts are starting to wrestle with ideas about what Russia’s invasion of Ukraine might mean for U.S. life and annuity issuers. Russia launched a broad land, sea and aerial attack on Ukraine around 10 p.m. Eastern time Wednesday (5 a.m. Thursday in Kyiv, Ukraine’s capital). Click HERE to read the full story via ThinkAdvisor
NAILBA Creates Career Center
{March 1st, 2022} by Allison Bell
The National Association of Independent Life Brokerage Agencies has set up a new website section. The new NAILBA Career Center site offers self-service tools both for companies that want to post information about openings and for job hunters who want to post resumes. Click HERE to read the full story via ThinkAdvisor
Some Insurance Fund Managers Have a Toe in Russia
{March 1st, 2022} by Allison Bell
Some life insurers may have a good view of the effects of the Russia-Ukraine war on world financial markets. Some offer variable annuities with separate account options that link crediting rates to the performance of Russian issuers’ stocks and bonds. Other life insurers have asset management arms with exposure to Russia-linked investments through mutual fund […]
‘Women in FinCrime’ Event Set for March 3
{March 1st, 2022} by Janet Levaux
The third AML Intelligence Women in FinCrime Summit, held in celebration of International Women’s Day, will take place on March 3 and feature leaders and regulators from across the world focused on anti-money laundering efforts, according to the organization. The online event will have two plenary sessions — one held during the workday in Europe […]
Transamerica Names an Annuity Distribution Strategist: Personnel Moves
{March 1st, 2022} by Allison Bell
Transamerica has hired Jonathan Cressman to be vice president and managing director for annuities wholesale distribution in the company’s individual solutions division. The company is a Baltimore-based arm of Aegon. Click HERE to read the full story via ThinkAdvisor
AM Best to Moderate Life & Annuity Regulatory Panel at ACLI ReFocus
{March 1st, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best Managing Director Ken Frino will moderate a life and annuity-focused panel discussion next month at ReFocus, an insurance industry conference event being co-hosted by the American Council of Life Insurers and the Society of Actuaries (ACLI) in Las Vegas, NV. “Why Insurers Are Divesting Blocks of Life and Annuity Business: The Regulator […]
Go Ahead, Retire at 62 and Claim Social Security at 67. Your Benefit Will Climb.
{March 1st, 2022} by Nick Fortuna
Q: What’s a tax-efficient way to protect the holdings in my taxable investment account from inflation? Savers with a moderate risk tolerance should consider blue-chip stocks that offer qualified dividends or an exchange-traded fund made up of those companies, Shuchman says. Qualified dividends are subject to tax rates for long-term capital gains, while ordinary dividends […]
Women’s History Month
{March 1st, 2022} by Wink's Intel Pros
As we have entered Women’s History Month and International Women’s Day approaches, we want to give a shoutout to an inspiring industry leader, our rock star Sheryl Moore. How Sheryl Moore grew into one of the life and annuity industry’s leading product experts, check out this feature article “From Stay-at-Home mom to Insurance Evangelist” page […]
Tougher DOL Fiduciary Rule May Target One-Time Transaction Fees
{March 1st, 2022} by Tracey Longo
Securities specialists at a prominent law firm are predicting that the U.S. Department of Labor will soon unveil a more expansive fiduciary rule for advisors. Senior attorneys at Faegre Drinker expect the DOL will move forward with a fiduciary rule that would clarify that even advisors who engage in one-time transactions involving the rollover of […]
TODAY IS THE DAY! Wink’s demo on that BIG, new system enhancement we told you about!
{February 22nd, 2022} by Wink's Intel Pros
UPDATED 3/1/2022 Click HERE to view a quick recap Join us on February 22nd for a demonstration on Wink’s library enhancement to the AnnuitySpecs analysis tool and how it can be useful to you! It’s a live demo, you get to ask us questions. Seriously! We hope you love the enhancement! We can’t […]
In case you missed it- this is what we have been talking about!
{February 22nd, 2022} by Wink's Intel Pros
ANNUITYSPECS NOW HOUSES PRODUCT MARKETING MATERIALS, REGULATORY FILINGS, AND RATES/STATES SHEETS February 1, 2022 by Wink’s Press Release — FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE WINK’S USERS RECEIVE FIRST-OF-ITS-KIND DOCUMENTS LIBRARY RESOURCE ANNUITYSPECS NOW HOUSES PRODUCT MARKETING MATERIALS, REGULATORY FILINGS, AND RATES/STATES SHEETS Des Moines, Iowa. February 1, 2022– In the continued pursuit of their mission […]
It’s Back: The Norcross-Walberg Bill to Make Annuities a 401(k) Default
{February 22nd, 2022} by Editorial Staff
Bipartisan legislation has been reintroduced that would allow retirement plan sponsors to default participants into annuities, either for guaranteed returns during the accumulation period or for lifetime income in retirement. Click HERE to read the full story via RIJ
Annuities in retirement plans? Revived bill aims for a leap
{February 22nd, 2022} by Lynnley Browning
Lawmakers revived a push to put annuities in Americans’ retirement plans, reintroducing a bill that would let companies make the complicated insurance contracts the automatic go-to when savers waffle about where to invest chunks of their money. U.S. Reps. Donald Norcross, a New Jersey Democrat, and Tim Walberg, a Michigan Republican, reintroduced the Lifetime Income […]
Pan-American Life Insurance Group Announces Merger of Mutual Trust Life Insurance Company into Pan-American Life Insurance Company
{February 22nd, 2022} by PALIG
NEW ORLEANS–(BUSINESS WIRE)–Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance throughout the Americas, today announced that Mutual Trust Life Insurance Company®, a Pan-American Life Insurance Group Stock Company, will be merged into Pan-American Life Insurance Company (PALIC) as a fully integrated division to be named Mutual Trust Life Solutions. […]
MDRT Family of Brands Expands Definition of Success in the Profession with New Awards and Rankings
{February 22nd, 2022} by MDRT
PARK RIDGE, Ill.–(BUSINESS WIRE)–The MDRT Family of Brands, which includes MDRT for high-performing financial services professionals, the MDRT Academy for aspiring MDRT members and MDRT Global Services for leaders in financial services, has added to the portfolio of honors available for exceptional members – and their companies. MDRT has redefined and added new categories within […]
AIG Reports Fourth Quarter and Full Year 2021 Results
{February 22nd, 2022} by American International Group, Inc
NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) today reported financial results for the fourth quarter and full year ended December 31, 2021. AIG Chairman & CEO Peter Zaffino said: “In the fourth quarter and full year 2021, AIG delivered outstanding financial results with General Insurance continuing to produce improved underwriting profitability through excellent top […]
Northwestern Mutual 2021 Financial Results Shatter Records Again
{February 22nd, 2022} by Northwestern Mutual
MILWAUKEE, Feb. 17, 2022 /PRNewswire/ — Northwestern Mutual delivered exceptional financial strength and growth throughout 2021, announcing today that it once again finished the year with record-setting business results, including revenue, total surplus, total company assets, client investment assets and life insurance market share. As a mutual company, Northwestern Mutual shares its success with policyowners in the form […]
Glia and Sureify Partner to Transform Life Insurance Carriers’ Real-Time Interactions with Policyholders
{February 22nd, 2022} by Gila
SAN JOSE, Calif., Feb. 17, 2022 /PRNewswire/ — Sureify, an insurtech leader working to modernize the life insurance industry with its modular enterprise platform, today announced its partnership with Glia, a leading provider of Digital Customer Service (DCS). The integration of Glia’s capabilities into Sureify’s Lifetime platform will enable insurers to reinvent how they serve and support customers in a digital […]
Fidelity National Financial, Inc. Announces Quarterly Cash Dividend of $0.44
{February 22nd, 2022} by Fidelity National Financial, Inc.
JACKSONVILLE, Fla., Feb. 16, 2022 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE:FNF) today announced that its Board of Directors has declared a quarterly cash dividend of $0.44 per share. The dividend will be payable March 31, 2022, to stockholders of record as of March 17, 2022. About Fidelity National Financial, Inc. Fidelity National Financial, Inc. (NYSE: FNF) is a leading provider of […]
American Equity Reports Fourth Quarter and Full Year 2021 Results
{February 22nd, 2022} by American Equity Investment Life Holding Company
WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), a leading issuer of fixed index annuities (FIAs) today reported on its fourth quarter 2021 results. These results include additional substantial progress on completing the building blocks of the AEL 2.0 strategy as outlined in a presentation published simultaneously with this release. American […]
Best’s Special Report: U.S. Life/Health Rating Activity Mixed for 2021 as Insurers Navigate Headwinds
{February 22nd, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–The increased number of Credit Ratings in the U.S. life/health insurance industry placed under review in 2021 mainly reflects the return of merger and acquisition (M&A) activity that was depressed in the previous year amid the pandemic surge, along with earnings declines in the life/annuity segment from heightened mortality, according to a new AM […]
New Legislation Would Allow Lifetime Income Products As Default Retirement Plan Investment
{February 22nd, 2022} by InsuranceNewsNet Press Release
WASHINGTON, D.C. – Bipartisan legislation to eliminate a barrier preventing lifetime income products as default investment choices in retirement plans was introduced today. The Lifetime Income for Employees Act, introduced by Rep. Donald Norcross (D-N.J.) and Rep. Tim Walberg (R-Mich.), would allow retirement plan sponsors to use lifetime income solutions as qualified default investment alternatives (QDIA) […]
Reminiscing 1995
{February 22nd, 2022} by Sheryl J. Moore
Remember those days? Join in the conversation HERE!
Sounds wrong?
{February 22nd, 2022} by Sheryl J. Moore
Insurance company sends a living benefit buyout letter to their annuity contract holders. Agent doesn’t get copied on the letter. Contract holders take advantage of the buyout, and agent gets chargebacks on their commissions because it has been less than a year since placing the business. Your thoughts? Join in the conversation HERE
Life Insurers Should Focus on Focusing: McKinsey
{February 22nd, 2022} by Allison Bell
For life insurers, making acquisitions for the sake of getting bigger is often a bad idea, according to consultants at McKinsey & Co. The consultants — who would like to help life insurers buy and sell businesses — talk about how life insurers should make deals now in a new global insurance report. Click HERE […]
Immediate Annuity Shoppers Seek 9.4% More Annual Income: Cannex
{February 22nd, 2022} by Allison Bell
U.S. residents who were shopping for immediate annuities in the fourth quarter of 2021 seemed open to paying more in premiums to get more annual income. Cannex Financial Exchanges, a Toronto-based company annuity and bank product data provider, has published data supporting that conclusion in an analysis of immediate annuity quote requests it processed during […]
Lawyers Release SEC Marketing Rule Checklist as Advisor Questions Linger
{February 22nd, 2022} by Melanie Waddell
The law firm Eversheds Sutherland released Friday a checklist for advisors to use as they prep for the Nov. 4 compliance date for the Securities and Exchange Commission’s Marketing Rule. “Legal and compliance personnel at advisory firms who are tasked with making sure their firms are in compliance with the new rules have a big […]
AIG Hopes to Launch Life and Retirement IPO by June 30
{February 22nd, 2022} by Allison Bell
American International Group continues to move toward selling a large stake in its Life and Retirement business to investors by the end of the second quarter. The size of the initial public offering will depend on market conditions, Peter Zaffino, AIG’s CEO, told securities analysts today. Click HERE to read the full story via ThinkAdvisor
Strongest Life-Annuity Market In 20 Years, Conning Says
{February 22nd, 2022} by Steven A. Morelli
Annuities, especially variable and indexed products, will boom in what was called the best insurance environment in 20 years during Conning’s 2022 Outlook webinar. “The overriding theme is that the insurance industry is going through a strong growth mode, and probably the strongest we’ve seen in 20 years now,” said Steven Weberson, head of insurance […]
Guardian Life’s CIO And Chief Of Operations Identifies Creative Ways To Fuel Innovation Talent
{February 22nd, 2022} by Peter High
Dean Del Vecchio is the Executive Vice President, Chief Information Officer, and Chief of Operations at Guardian Life, roughly 160-year-old mutual company with roughly $10.5 billion in annual revenue. He leads a team of about 4,500 employees. Click HERE to read the full story via Forbes
AmeriLife Now Offers SimpliNow℠ Legacy from AIG
{February 22nd, 2022} by AmeriLife Group, LLC
AmeriLife Group, LLC (“AmeriLife”), a national leader in developing, marketing, and distributing annuity, life and health insurance solutions, today announced that its agencies and affiliates are now offering SimpliNow LegacySM from AIG (issued by American General Life Insurance Company), a simplified issue whole life insurance product specifically designed for middle-market American seniors. SimpliNow Legacy was designed […]
Revived Bill Would Allow Annuities as Default 401(k) Investment
{February 22nd, 2022} by Melanie Waddell
Reps. Donald Norcross, D-N.J., and Tim Walberg, R-Mich., reintroduced legislation Tuesday, the Lifetime Income for Employees (LIFE) Act of 2022, that would allow annuities to be a default investment option in employer-sponsored 401(k) plans. The bill builds on the Setting Every Community Up for Retirement Enhancement (Secure) Act by allowing retirement plan sponsors to use annuities […]
Bipartisan Bill Would Allow Annuities as Default Option
{February 22nd, 2022} by Contributor
(NAPA – National Association of Plan Advisors) – Key members of the House of Representatives have reintroduced legislation to allow retirement plan sponsors to provide annuities as a default option in their DC plans. Reps. Donald Norcross (D-NJ) and Tim Walberg (R-MI), who serve together on the House Committee on Education and Labor’s Health, Employment, Labor […]
New York Life Releases 2021 Diversity, Equity, and Inclusion Report
{February 22nd, 2022} by New York Life
NEW YORK–(BUSINESS WIRE)–New York Life, America’s largest1 mutual life insurer, reports how its approach to Diversity, Equity and Inclusion (DE&I) underscores its commitment to employees, agents, policy owners, and communities in its 2021 DE&I Report. “As an organization that thinks long-term and elects to prepare for whatever the future may hold rather than try to predict it […]
AM Best Affirms Financial Strength Rating of Mutual of America Life Insurance Company
{February 22nd, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a+” (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Mutual of America Life Insurance Company (MofA) (New York, NY). The outlook of the Long-Term ICR has been revised to stable from negative, while the FSR […]
NAIC Regulators Look To Tighten Up RILA Product Designs
{February 22nd, 2022} by John Hilton
Among insurers and annuity sellers, the rise of indexed-linked variable annuity products provided a lifeline to an industry beset by persistent disruption in recent years. Among regulators, the ILVA products proved a source of bewilderment. Although many regulators classified them as variable annuity products, others were not convinced. Click HERE to read the full story […]
Annuity reinsurer AEL Re licensed in Bermuda
{February 22nd, 2022} by N/A
An American issuer of fixed index annuities has set up a reinsurer in Bermuda. American Equity Investment Life Holding Company revealed the formation and licensing of AEL Bermuda Reinsurance Company in its fourth quarter and full-year 2021 earnings release. Click HERE to read the full story via The Royal Gazette
Annuity (Re)insurer Restructuring Wave 2021: Overview of Key Players Including Allstate, Great American, Jackson and AIG
{February 22nd, 2022} by Research and Markets
DUBLIN, Feb. 11, 2022 /PRNewswire/ — The “2021 Focus Series: The Annuity (Re)insurer Restructuring Tsunami” report has been added to ResearchAndMarkets.com’s offering. Companies Mentioned Allstate Great American Equitable Jackson Great-West Lincoln Voya AIG Hartford Blackstone Mass Mutual Athene Venerable Over the past decade, there has been an increasing level of attention provided to the life and annuity market. New entrants have […]
Origins of the ‘Bermuda Triangle’ Strategy
{February 15th, 2022} by Kerry Pechter
For much of the first decade of the 21st century, leading publicly traded US life insurance companies had reason to believe that their flagship product would help then capture the multi-trillion-dollar Boomer retirement opportunity. Click HERE to read the full story via RIJ. Wink’s Note: Kerry Pechter at Retirement Income Journal has led the charge in […]
Second Lawsuit Challenges DOL On Investment Advice Rule
{February 15th, 2022} by John Hilton
A second lawsuit in one week challenges the Department of Labor’s authority to enforce its Investment Advice Rule governing transactions involving retirement account dollars. The American Securities Association filed a lawsuit Tuesday afternoon in U.S. District Court for the Middle District of Florida. It claims the DOL overstepped its bounds with guidance issued in April […]
Roses, Chocolates And … A Financial Plan? Couples Love Security: Study
{February 15th, 2022} by Ayo Mseka
This Valentine’s Day, singles seeking happily ever after should gift themselves a written financial plan–something they are about half as likely to do as couples—in order to receive a saving boost and other benefits. This is according to a new research report by Hearts & Wallets, the firm that specializes in consumer, investing and financial […]
Brighthouse Boosts Sales On Growing VA, SmartCare Sellers
{February 15th, 2022} by Steven A. Morelli
Brighthouse Financial had a record year in sales of life insurance and some annuities as the company expanded distribution, a trend the company expects to continue, according to executives on Brighthouse’s fourth-quarter earnings call on Friday. “We continue to expand our distribution footprint and enhance the way we support financial professionals and the clients they […]
Slott, Pfau: When and How to Use Annuities, Life Insurance in Client Plans
{February 15th, 2022} by Ginger Szala
What is better for retirement and estate planning: life insurance or annuities? In a recent webinar by The American College of Financial Services, moderator Steve Parrish, adjunct professor of advanced planning, asked this question of Ed Slott, CPA and head of Ed Slott & Co., and Wade Pfau, professor of retirement income at the college. […]
Ohio National finishes 2021 with strong financial position and increased total adjusted capital
{February 15th, 2022} by Ohio National Financial Services
CINCINNATI, Feb. 11, 2022 (GLOBE NEWSWIRE) — Ohio National Financial Services, Inc. announced today it finished 2021 with $1.5 billion in statutory total adjusted capital (ONLIC1), an increase over the previous year. Benefits paid to policyholders totaled $1.5 billion,2 and the company paid or credited $90 million in dividends to eligible policyholders.3 Statutory core earnings at $168.2 […]
BNY Mellon’s Pershing Teams Up with Pacific Life to Provide RIAs with Streamlined Access to the Carrier’s Fee-Only Annuities
{February 15th, 2022} by Pacific Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life today announced a new collaboration with BNY Mellon’s Pershing to make its fee-only annuities available to registered investment advisors (RIAs) and their fee-only advisors while providing a streamlined portfolio-management experience. Products included are Pacific Advisory Variable Annuity, Pacific Odyssey®, Pacific Index Advisory®, and Pacific Harbor—all designed to help RIAs meet a variety of clients’ […]
Brighthouse Financial Announces Fourth Quarter and Full Year 2021 Results
{February 15th, 2022} 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 fourth quarter and full year ended December 31, 2021. Fourth Quarter and Full Year 2021 Results The company reported net income available to shareholders of $42 million in the fourth quarter of 2021, or $0.51 per […]
Life Insurer Opportunities from COVID-19: Another Roaring 20s in Order for the U.S. Customer? – ResearchAndMarkets.com
{February 15th, 2022} by Research and Markets
DUBLIN–(BUSINESS WIRE)–The “2021 Focus Series: COVID-19: the Consumer Impact and Life Insurer Opportunities” report from Conning & Company has been added to ResearchAndMarkets.com’s offering. The 1918 pandemic hit the United States as World War I was winding down. While the mortality impact was high, out of these twin crises of war and disease, the Roaring 1920s emerged. Perhaps there […]
Guardian Life Acquires Strategic Minority Stake in HPS Investment Partners
{February 15th, 2022} by Guardian
NEW YORK, Feb. 9, 2022 /PRNewswire/ — The Guardian Life Insurance Company of America® (Guardian), one of the nation’s largest life insurers and a leading provider of employee benefits, today announced it has acquired a minority equity stake in HPS Investment Partners (HPS). HPS is a leading global investment firm that currently manages approximately $80 billion in assets. Partnering with […]
AMERCO REPORTS THIRD QUARTER FISCAL 2022 FINANCIAL RESULTS
{February 15th, 2022} by Amerco
RENO, Nev., Feb. 9, 2022 /PRNewswire/ — AMERCO (Nasdaq: UHAL), parent of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, today reported net earnings available to shareholders for its third quarter ended December 31, 2021, of $281.5 million, or $14.35 per share, compared with net earnings of $183.0 million, or $9.33 per share, for the same period last […]
Manulife reports strong 2021 results with record net income of $7.1 billion and core earnings of $6.5 billion, with double-digit growth in APE sales and new business value; Global Wealth and Asset Management net inflows tripled to $27.9 billion
{February 15th, 2022} by Manulife
TORONTO, Feb. 9, 2022 /PRNewswire/ – Today, Manulife announced its 2021 and fourth quarter of 2021 (“4Q21”) results. Key highlights include: Net income attributed to shareholders of $7.1 billion in 2021, up $1.2 billion from 2020, and $2.1 billion in 4Q21, up $304 million from the fourth quarter of 2020 (“4Q20”) Core earnings1 of $6.5 billion in 2021, up 26% on a constant exchange rate basis from 2020, […]
FIDELITY NATIONAL FINANCIAL ANNOUNCES FOURTH QUARTER AND FULL YEAR 2021 EARNINGS RELEASE AND CONFERENCE CALL
{February 15th, 2022} by Fidelity National Financial, Inc.
JACKSONVILLE, Fla., Feb. 9, 2022 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF) (the “Company”), a leading provider of title insurance and transaction services to the real estate and mortgage industries and a leading provider of annuity and life insurance products through the Company’s wholly-owned subsidiary, F&G, will release fourth quarter and full year 2021 earnings after the […]
USA Life-Annuity Consumer Markets 2021: Measuring the Insurer Opportunity
{February 15th, 2022} by Research and Markets
DUBLIN, Feb. 9, 2022 /PRNewswire/ — The “2021: Life-Annuity Consumer Markets” report has been added to ResearchAndMarkets.com’s offering. The life insurance protection gap has widened to a relatively large amount, $23.4 trillion, which is equivalent to over 60% of the current in force individual life insurance. Due to Covid-19, ll three adult generations saw increased mortality, though most excess mortality for Baby […]
Annuity (Re)insurer Restructuring Wave 2021: Overview of Key Players Including Allstate, Great American, Jackson and AIG
{February 15th, 2022} by Research and Markets
DUBLIN, Feb. 11, 2022 /PRNewswire/ — The “2021 Focus Series: The Annuity (Re)insurer Restructuring Tsunami” report has been added to ResearchAndMarkets.com’s offering. Companies Mentioned Allstate Great American Equitable Jackson Great-West Lincoln Voya AIG Hartford Blackstone Mass Mutual Athene Venerable Over the past decade, there has been an increasing level of attention provided to the life and annuity market. New entrants have […]
Best’s Review Examines Potential for Annuity Industry Expansion
{February 15th, 2022} by AM Best
OLDWICK – FEBRUARY 09, 2022 12:05 PM (EST) Best’s Review explores how federal changes have opened up income annuities as a new option for retirement plans, and how the staid annuity industry could benefit from incorporating long-term contracts into their products. The “middle market” represents untapped potential, and 401(k) providers have already begun announcing plans to […]
Best’s Special Report: Life/Annuity Insurers Adjusting Distribution Strategies to Reach Consumers, Survey Finds
{February 15th, 2022} by AM Best
OLDWICK – FEBRUARY 14, 2022 08:28 AM (EST) Results from an AM Best survey of life/annuity insurance companies show that carriers are actively implementing improvements in distribution techniques given changing customer expectations and an evolving distribution landscape exacerbated by the COVID-19 pandemic. Highlights of the survey of 78 U.S. life/annuity companies rated by AM Best are detailed […]
AM Best Affirms Credit Ratings of American Life & Security Corp.
{February 15th, 2022} by AM Best
Oldwick //BestWire// – AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” (Good) of American Life & Security Corp. (American Life) (headquartered in Lincoln, NE). The outlook of these Credit Ratings (ratings) is positive. The ratings reflect American Life’s balance sheet strength, which […]
Fintech raises $5.1 million to expand annuity platform for 401(k)s
{February 15th, 2022} by InvestmentNews
Micruity Inc., a San Francisco-based financial technology company, has closed $5.1 million in seed financing to accelerate the expansion of its income connectivity platform, which facilitates the use of annuities inside 401(k)s. Click HERE to read the full story via InvestmentNews
Individual Life Activity Returns to Pre-Pandemic Earth
{February 15th, 2022} by Allison Bell
U.S. individual life insurance application activity was good in January when compared with activity for January 2020, but dull when compared with January 2021. MIB Group — a Braintree, Massachusetts-based group that helps member life insurers share some of the information used in life insurance underwriting — gives data on life insurers’ return to normal […]
FINRA to Update Variable Annuity Exam Questions
{February 15th, 2022} by Allison Bell
The Financial Industry Regulatory Authority says the variable annuity issuers and distributors it oversees should be prepared for new exam questions about use of automated transaction tracking tools. Many life insurers have been shifting toward the sale of life insurance and annuity products with no guarantees, or only limited guarantees, because of concerns about low […]
Tiburon founder Chip Roame joins DPL Financial Partners board
{February 15th, 2022} by DPL Financial Partners
LOUISVILLE, KY, February 8, 2022- DPL Financial Partners (“DPL”), the leading turnkey insurance platform for registered investment advisors (“RIAs”), announced the appointment of Tiburon Strategic Advisors and Tiburon CEO Summits Founder and Managing Partner Chip Roame to its board of directors. “We are thrilled to welcome Chip to our board,” said DPL Founder and CEO […]
Retirement Income Group Backs Elton John
{February 15th, 2022} by Allison Bell
The Alliance for Lifetime Income is working with Elton John — who will turn 75 on March 25 — to try to get U.S. consumers interested in retirement income planning. The Washington-based annuity awareness group is the presenting partner of John’s Yellow Brick Road Tour in North America. Click HERE to read the full story […]
Financial Security: One of the most attractive qualities in a partner
{February 15th, 2022} by Insurance Forums Staff
Americans in a relationship are talking openly about their finances before saying “I love you.” According to a new study by Life Happens, the national nonprofit educating consumers about the importance of life insurance in a sound financial plan, 74% of respondents said it took them between one and eight months to be comfortable talking about […]
Brighthouse Executives Shrug at Inflation Talk
{February 15th, 2022} by Allison Bell
Brighthouse Financial executives can live with the idea of a moderate increase in inflation. A securities analyst asked them about inflation Friday, on a conference call the Charlotte, North Carolina-based company held to go over earnings for the fourth quarter of 2021 with securities analysts Click HERE to read the full story via ThinkAdvisor
Life Insurers Hope Consumers Will Be Their Valentines
{February 15th, 2022} by Allison Bell
Life Happens — a nonprofit group that promotes life insurance and financial planning awareness — has been trying to use Valentine’s Day to win consumers’ hearts. The Arlington, Virginia-based organization wants to plant the idea that buying life insurance and getting one’s finances in order is a much more powerful way of showing love than […]
Rising interest rates will have diverse effects: Cerulli
{February 15th, 2022} by Editorial Staff
Different types of institutional investors face dramatically different effects from a trend toward higher inflation and lower capital market returns, according to a new Cerulli Associates report, North American Institutional Markets 2021: Inflation’s Impact on Return and Liability-Oriented Investors. Click HERE to read the full story via RIJ
Aegon Sees Strong Annuity Buyout Demand
{February 15th, 2022} by Allison Bell
Executives at Aegon — the Dutch parent of Transamerica — say many holders of U.S. variable annuities with rich benefits guarantees would rather have a big cash payment. The executives talked briefly about Transamerica’s U.S. variable annuity buyout program Wednesday, on a conference call the company held to go over earnings for the fourth quarter […]
Apollo CEO Questions Other Private Equity Investors’ Life Strategy
{February 15th, 2022} by Allison Bell
Marc Rowan — the head of the investment company that controls Athene Holding, and who has helped finance many of the biggest life insurance and annuity sector deals over the past decade — suggested Friday that some other investment companies that are buying life and annuity issuers are on the wrong track. Rowan is the […]
MetLife explores sale of variable annuity business – sources
{February 15th, 2022} by David French
NEW YORK, Feb 11 (Reuters) – MetLife Inc (MET.N) is exploring the divestment of its U.S. variable annuity book as it seeks to free up resources to invest in higher-growth parts of its business, people familiar with the matter said. The New York-based insurer is working with an investment bank on the plan, which is in its […]
Georgia Supreme Court to Weigh-in on Key Insurable Interest Question for Life Insurance
{February 15th, 2022} by Brian Casey and Thomas Sherman
Appeal from the United States District Court for the Northern District of Georgia, D.C. Docket No. 1:17-cv-03857-WMR. On February 4, 2022, the United States Court of Appeals for the Eleventh Circuit certified two questions to the Georgia Supreme Court, which should be of interest to life insurance companies, life insurance agents and the secondary life […]
Things for Clients to Consider
{February 8th, 2022} by Sheryl J. Moore
Annuities are not right for everyone. When it is time to have the annuity talk with clients, here is a list of things they should consider when buying an annuity. Looking for minimum retirement income There is a minimum amount of income that we all need to pay our bills- the amount isn’t expendable income. […]
Staid Annuities Get Star Treatment in Movie About the Importance of Guaranteed Retirement Income
{February 8th, 2022} by Terrence Dopp
Ever ponder exactly what it means for filmmakers to have their movies obtain a rating from the Motion Picture Association? Probably not. But for documentarian Doug Orchard, that was a key question for his new film The Baby Boomer Dilemma, which explores shortcomings in the current retirement system and the role of annuities within portfolios. Securing […]
A Tale Of Three Annuities
{February 8th, 2022} by Sheryl J. Moore
I get frustrated, frequently, by the regular barrage of negativity that surrounds most of the “news” that I read on annuities. If it isn’t a swayed account from so-and-so’s beneficiary, talking about how an annuity wasn’t suitable for their deceased parent, it is a hack job from some media outlet that caters to mutual fund […]
The Dark Side of Automation, Layoffs Emerges in Distribution Survey
{February 8th, 2022} by Cyril Tuohy
These agents play a key role for certain products, such as fixed-indexed annuities, almost two-thirds of which are sold through brokerage general agencies or marketing organizations, according to Wink. Click HERE to read the full story via Life Annuity Specialist ………………………………………………. Most of the cuts, however, came primarily from insurers that supported distribution outside of the […]
Situations Change. Solutions Can, Too.
{February 8th, 2022} by Deborah Miner
What’s one thing cars and drivers have in common? Both have advanced tremendously over time. To clarify: This regards automobiles and golf clubs, not automobile operators. But consider someone who has only driven the same car or swung the same driver for many years. Click HERE to read the full story via INN Wink’s […]
People still appreciate protection
{February 8th, 2022} by Sheryl J. Moore
Remember when the life insurance industry was about PROTECTION rather than ACCUMULATION? So much talk about “higher potential for gains” and “overfunding.” People still appreciate protection, folks! Let’s not forget about that! Just because the insurance companies want you to focus on accumulation doesn’t mean you have to be a sheep. Do your own thing. […]
High school classes ineffective in boosting retirement savings: Study
{February 8th, 2022} by InvestmentNews
Does financial literacy education during the formative teenage years increase long-run retirement savings? Probably very little, according to the TIAA Institute, which sponsored research analyzing data from the 2012, 2015 and 2018 waves of the National Financial Capability Study. Click HERE to read the full story via InvestmentNews
Best Places to Work for Financial Advisors
{February 8th, 2022} by InvestmentNews
The 75 firms presented here go beyond offering financial advisers attractive benefits and perks, they create workplaces that empower employees with the skills and confidence necessary to deliver the best possible investment and financial planning guidance to clients. In 2022, they’re also taking steps to keep employees safe during the ongoing pandemic. Click HERE […]
Life and Annuity Issuers Watch for Interest Rate Hike Sunshine
{February 8th, 2022} by Allison Bell
Many executives from the big, publicly traded U.S. life and annuity issuers have been talking to securities analysts this week about fourth-quarter COVID-19 mortality. But executives have also had a chance to address a more cheerful topic: the possibility that interest rate increases, driven by efforts by the Federal Reserve Board to move the interest […]
Prudential Shrugs Off Omicron Losses To Post Strong 4Q Earnings
{February 8th, 2022} by John Hilton
Prudential Financial reported finhttps://insurancenewsnet.com/innarticle/prudential-shrugs-off-omicron-losses-to-post-strong-4q-earningsancial losses from the flare-up of the Omicron variant throughout the fall 2021. The insurer’s group insurance business reported a loss of $205 million in the fourth quarter, compared to an $87 million loss in the 2020 fourth quarter. “We have a high concentration of large retail and healthcare employer accounts,” explained […]
NCOIL Highlights February as Insurance Careers Month
{February 8th, 2022} by NCOIL
Manasquan, NJ – The National Council of Insurance Legislators (NCOIL) joins the Insurance Careers Movement (ICM) in focusing on February as Annual Insurance Careers Month. Overall, the ICM includes more than 1,000 insurance carriers, agents/brokerage firm, trade associations and industry partners working to engage the next generation for careers in insurance. The ICM first designated […]
Borrowing and the Whole Life Policy
{February 8th, 2022} by Lucas Siegel
People generally purchase whole life insurance for the death benefit and the cash that accumulates in the policy. Unfortunately, accessing that cash can be more complicated than policyholders expect. A common approach is to use the policy’s cash value as collateral against a loan. Borrowing to unlock value from life insurance is appropriate when your […]
Annuity Sellers Challenge Fiduciary Rule in Federal Court
{February 8th, 2022} by Nevin E. Adams, JD
Noting that “pouring the same old wine into a new bottle does not change the result,” a new lawsuit seeks to vacate the Labor Department’s fiduciary rule as expressed in PTE 2020-02. The suit—filed by the Federation of Americans for Consumer Choice Inc., joined by several advisors and advisory firms that sell annuities as part […]
Annuity Group Sues DOL Over Fiduciary Rule
{February 8th, 2022} by Allison Bell
The Federation of Americans for Consumer Choice has gone to court to try to block a U.S. Labor Department revival of an Obama-era definition of the term “fiduciary.” FACC contends that the department made the interpretation change in the preamble, or official introduction, to a “prohibited transaction exemption” revision, rather than in the actual text […]
Shrinking Market Opportunity Spurs Interest in Private Investments for Enhanced Returns
{February 8th, 2022} by Cerulli Associates
New research from Cerulli Associates and Russell Investments finds that many investors plan to move their portfolios up the risk spectrum by allocating to private investments in 2022. The research, Seeking Future Returns, was compiled from interviews conducted in the third quarter of 2021 with large institutional asset owners and asset managers. The resulting study also leverages data and insights from […]
More Sources of ‘Bermuda Triangle’ Information
{February 8th, 2022} by Editorial Staff
Anyone following what RIJ calls the “Bermuda Triangle” strategy might be interested in three recent reports. One comes from the consulting firm Cerulli Associates, another from McKinsey & Co., and a third appeared in the National Law Review last December. I provide links to the full texts and excerpts from them below. Click HERE to read the full story […]
Private Equity Is Taking a Long, Hard Look at Insurance. So Far, It Likes What It Sees.
{February 8th, 2022} by Hannah Zhang
Private equity and other alternatives firms have long salivated over insurance company assets as a source of permanent capital. Now that trend has been kicked into high gear. Just look at deal making. In December, Allianz Life entered a reinsurance agreement with Sixth Street’s portfolio company Talcott and partner Resolution Life. Late last month, Sixth Street announced […]
Wink opens annuity data library to its subscribers
{February 8th, 2022} by Editorial Staff
Wink, Inc., announced this week that subscribers to its AnnuitySpecs service, which gathers and distributes annuity and life insurance contract data and competitive intelligence, will have access to a new library of product-related resources on the firm’s WinkIntel.com site. Click HERE to read the full story via RIJ
Expanding Producer Network Is Top Priority Of BGAs And IMOs
{February 8th, 2022} by InsuranceNewsNet Press Release
WINDSOR, Conn., Feb. 2, 2022 — More than three quarters (77%) of brokerage general agencies (BGAs) and independent marketing organizations (IMOs) surveyed say their top priority is to expand their network of producers. The study, conducted by LIMRA and the National Association of Independent Life Brokerage Agencies (NAILBA), reveals the pandemic altered what some firms […]
The Misunderstood Cash Power Of Deferred Annuities
{February 8th, 2022} by Harry N. Stout
One of the major objections consumers voice about deferred annuities is that consumers are concerned they can’t withdraw cash if they need it for emergencies. In many ways, consumers want their annuity contract to function as a fully liquid checking-account-like instrument. You hear this time and time again. Click HERE to read the full story […]
Why private equity sees life and annuities as an enticing form of permanent capital
{February 8th, 2022} by Ramnath Balasubramanian, Alex D’Amico, Rajiv Dattani, and Diego Mattone
Permanent capital—investment funds that do not have to be returned to investors on a timetable, or at all—is, according to some, the “holy grail” of private investing.1 Permanent capital owes its exalted status to the time and effort that managers can save on fundraising, and the flexibility it provides to invest at times, like a crisis, […]
