FINRA
{January 6th, 2014} by FINRA
Each year, FINRA publishes its regulatory and examination priorities to highlight significant risks and issues that could adversely affect investors and market integrity in the coming year. These risks are primary drivers of our regulatory programs. Of course, markets and the economic environment are dynamic. As a result, FINRA updates its view on risks […]
Jackpot! 3 extreme social media success stories
{January 6th, 2014} by Amy Mcllwain
Who doesn’t love a good success story? Now that even more financial advisors are using social media, some of the resulting success stories are pretty impressive. Just like winning the lottery, your chances of gaining a $10 million account from one Facebook “like” are pretty slim, but it does happen. 1. One advisor landed a […]
Life insurers can renew efforts to aggressively penetrate new markets
{January 3rd, 2014} by IFAwebnews Staff
Given the rise in consumer confidence and ongoing economic recovery, life insurers are poised to rebuild product portfolios, expand into under-penetrated markets and deploy the capital they have accumulated into profitable business opportunities, according to Ernst & Young’s 2014 U.S. Life Insurance-Annuity Outlook. “Insurers eyeing growth opportunities need to develop cost-effective ways to distribute products […]
Al Granum: 1922-2014
{January 3rd, 2014} by Brian Anderson
O. Alfred (Al) Granum, CLU, one of the true greats in the history of the life insurance industry, passed away at the age of 91 on Thursday, Jan. 2, after a long battle with Parkinson’s Disease. This is a man whose enormous influence on the industry cannot be overstated. His legacy will endure, as his […]
American General launches Accelerated Access Solution
{January 3rd, 2014} by Noah Guillaume
ALSO: Industry news from Symetra, OneAmerica, The Guardian, Security Mutual New York, Nationwide and Disability RMS American General Life Companies (American General), a part of AIG, launched the Accelerated Access Solution, a flexible guaranteed universal life insurance. Life insurance policy holders who become diagnosed with a chronic illness can now access their policy’s death benefits, […]
BestWeek: World’s Largest Insurers List Shows Top Companies Shuffle on Net Premiums
{January 3rd, 2014} by Caroline Saucer, BestWeek Editor, Caroline.Saucer@ambest.com
OLDWICK, N.J. – There was a shuffle in the ranking of the top-five largest insurance companies in the world, as Allianz and Generali climbed higher and Japan Post fell out as another Japanese company cracked the top bracket, according to A.M. Best Co. data featured in this week’s BestWeek Americas. For the first time, U.S.-based […]
What new scrutiny of life insurance captives means for advisers
{January 3rd, 2014} by Darla Mercado
Regulatory attention means advisers may want to rethink which companies they work with As regulators scrutinize life insurers’ use of “captive” entities — subsidiaries that reinsure blocks of existing business — advisers may need to rethink the way they evaluate the carriers they work with. Life insurance companies set up captives to which they shift […]
Berkshire Seen Failing Buffett 5-Year Test For First Time
{January 3rd, 2014} by Boomberg News
Warren Buffett probably missed his target for the first time in 44 years. Berkshire Hathaway Inc., his $292 billion company, is poised to report that it failed to increase net worth more rapidly than the Standard & Poor’s 500 Index during the past five years, according to analyst estimates. It would be the first time […]
Digital or Analog? Life Insurers Have to Do Both
{January 3rd, 2014} by Cyril Tuohy
U.S. life and annuity carriers, which have spent the past several years reducing risk exposures, repricing products and rebuilding their capital base, are well positioned for 2014. Now another challenge comes knocking: marketplace bifurcation. Younger buyers, attracted to – even weaned on – alternative distribution channels, require carriers and their distributors to be online, whether […]
Advisors List Their Resolutions For 2014
{January 3rd, 2014} by Cyril Tuohy
Even if advisors don’t fulfill their New Year’s resolutions, it’s the thoughts that count — no matter how fleeting. Advisors’ top resolutions for 2014 include increasing referrals from current clients (85 percent), boosting their office efficiency (67 percent), integrating technology (59 percent), meeting influential industry experts (59 percent) and being more selective about taking on […]
CEO pay vs. agent commissions: Comparing the numbers
{January 3rd, 2014} by Warren S. Hersch
Do yearly changes in the commissions that producers receive fluctuate in tandem with CEO compensation at the life insurers for whom they sell product? That’s a question I sought to answer as part of my research on producer compensation. I’ve had limited success. Click here to read…
Insurers to outperform the debt market in 2014
{January 3rd, 2014} by Matt Robinson
(Bloomberg) — U.S. life insurers are poised to outperform in the debt market next year as they invest premiums at higher interest rates, according to CreditSights Inc. A gauge of U.S. company credit risk rose for the second day. Higher rates help insurance companies to better match long-term liabilities, CreditSights said in a Dec. 30, 2013 […]
Must-Read Social Media Articles for Financial Advisors from 2013
{January 3rd, 2014} by Amy Mcllwain
What a year for financial advisors and social media! From Twitter fights to new regulation updates, 2013 was a big year for the evolution of social media within the financial services industry. One of the biggest changes we’ve seen in the past year is how many more advisors are finding success online and the […]
Athene CEO Seeks Level Playing Field
{January 3rd, 2014} by Linda Koco
Even though 2013 is ending, the buzz around private equity ownership of annuity companies is nowhere near over. In fact, the fireworks around private equity companies buying and operating annuity carriers, so prominent in 2013, might continue well into 2014. One indicator is that, in December, the National Association of Insurance Commissioners (NAIC) charged its […]
GAO: Fixes Needed for Social Security Administration’s Death Master File
{January 2nd, 2014} by Jeff Jeffrey
WASHINGTON – A federal watchdog agency has recommended the Social Security Administration make a series of fixes to its database of deceased Americans to ensure the Death Master File does not include inaccurate information. The Death Master File has been at the center of a nationwide crackdown on life insurance practices that state regulators have […]
Capital Requirements, Tax Issues Among Targets of Global and US Regulators in 2014
{January 2nd, 2014} by Best's Review Contributers John Pruitt, Cynthia Shoss, Thomas Glassic, Justin Kitchens, Saren Goldner and Meltem Kodaman
OLDWICK, N.J. – As a new year begins, eyes will be on regulation that could impact insurers. Here’s an overview of what international, federal and state lawmakers will be looking at. International The Financial Stability Board, working with the International Association of Insurance Supervisors, is driving the identification of globally systemically important insurers and recommending […]
