American Equity Committed to FIA Market
August 9, 2016 by Cyril Tuohy
The CEO of American Equity Investment Life Holding moved Thursday to reassure distributors and investors that the company has no plans to abandon the fixed indexed annuity business, which is on track to close $60 billion in sales this year.
Executives with the Iowa-based company earlier this year raised doubts about whether the company, the No. 2 seller of FIAs last year, could adequately supervise independent agents under new rules issued by the Department of Labor.
The rule raises investment advice standards for funds flowing in and out of retirement accounts. Click HERE to view the full story. INN news articles may require a subscription to view.
Billions of dollars in annual FIA premium is written by agents recruited by marketing organizations. Last year, American Equity alone sold nearly $7 billion worth of FIAs, according to Wink’s Sales & Market Report.