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Archive for December 2017


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  • 7 New Peeks Inside Life Insurers’ Underwriting Machinery

    {December 29th, 2017} by Allison Bell

    A team at the Society of Actuaries has posted a major report on how new life insurance policies really are made. Members of the Improving the New Business Process Survey Subcommittee, part of the SOA’s Committee on Insurance Mortality & Underwriting Surveys, persuaded 19 U.S. life insurers and five Canadian life insurers to tell the subcommittee how […]

    All Eyes on Uniform Fiduciary Rule, but Skeptics Abound

    {December 29th, 2017} by Melanie Waddell

    A fiduciary rule proposal by the Securities and Exchange Commission along with planned changes to the Labor Department’s fiduciary rule top the list of attention-getters for advisors and brokers in the new year, but other moves like a new cryptocurrency rule by the SEC and tougher cybersecurity exams (and enforcement actions) may also be on […]

    Fake comments hit regulators seeking input on proposed rules

    {December 29th, 2017} by Ryan W. Neal

    Several public comments collected by the Department of Labor that criticize the proposed fiduciary rule are fake, according to an analysis by the Wall Street Journal and Mercury Analytics. Of more than 3,000 comments, WSJ surveyed 345 people, most of whom were critical of the fiduciary rule. Fifty people responded, and 20 of them said they did […]

    Why Baby Boomers should still consider life insurance

    {December 29th, 2017} by Courtney Keating

    When you think of life insurance you probably think these policies are for young families, planning for the future of their loved ones to help them cope with debt and the everyday cost of living in the event of the worst happening unexpectedly.  However, Baby Boomers, depending on their financial situation, might still want to […]

    New York proposes ‘best interest’ rules amid DOL fiduciary rule delay

    {December 29th, 2017} by Katherine Chiglinsky

    (Bloomberg) — New York State’s top financial watchdog proposed regulations that would require sellers of life insurance and annuities to act in the best interest of clients, raising standards even as the U.S. government delays its fiduciary rule. Products that best fit clients would have to be offered before those that are most profitable to the sellers, […]

    New York proposes best interest standard to apply to annuity and life insurance sales

    {December 29th, 2017} by Greensfelder Hemker & Gale PC

    New York Department of Financial Services Superintendent Maria Vullo released a proposed revision to New York’s annuity suitability rule that would apply a best interest standard to all annuity and life insurance recommendations in New York. A recommendation is in the best interest of a consumer if it is in furtherance of the consumer’s needs and objectives […]

    Northwestern Mutual Launches New Brand Campaign “Spend Your Life Living”

    {December 29th, 2017} by Northwestern Mutual

    MILWAUKEE, Dec. 28, 2017 /PRNewswire/ — Northwestern Mutual, a leading financial security company, announced today the launch of a new brand campaign called “Spend Your Life Living.” Many people are stressed about their finances and saving for their future retirements, making it challenging to make the most of life’s moments now without feeling guilty. The campaign’s goal is […]

    Insurance Industry Research Reveals More Women in Leadership Roles

    {December 29th, 2017} by Saint Joseph's University

    Newswise — PHILADELPHIA (December 26, 2017) – New insurance industry demographic research from Saint Joseph’s University in Philadelphia reveals significant improvement in gender inclusion in senior leadership positions. The study builds on four years of work by Mike Angelina, executive director of the Maguire Academy of Insurance and Risk Management. “The purpose of the updated […]

    Indiana Department of Insurance, NAIC Life Insurance Policy Locator Finds Over $600,000 Total Claims

    {December 29th, 2017} by STL News

    Indianapolis, IN/December 24, 2017 (STL.News) – Thousands of U.S. consumers have reaped the benefits of the Indiana Department of Insurance’s (IDOI) and the National Association of Insurance Commissioners’ (NAIC) Life Insurance Policy Locator during the locator’s first year. In Indiana, 144 beneficiaries have been matched with $609,591.72 total claims since its launch last November. The […]

    New York State May Set Its Own Best Interest Standard

    {December 27th, 2017} by Allison Bell

    New York state regulators today proposed adding a best interest standard to the state’s annuity sales standards regulations. The state may also apply the annuity sales rules to sales of life insurance. Click HERE to read the orginal story via ThinkAdvisor. The New York State Department of Financial Services has included those provisions in a new set of […]

    Advisers fear private equity’s reach into VAs

    {December 27th, 2017} by Greg Iacurci

    Editor’s note: This story has been updated with information about the sale of Voya Financial’s annuity business.   Financial advisers have expressed alarm over recent reports of insurers looking to offload large blocks of variable annuities to private investors. Voya Financial Inc. announced Thursday it is selling tens of billions of dollars’ worth of variable […]

    Top 5 Stories of 2017: Annuities

    {December 27th, 2017} by John Hilton

    It was a very busy year in financial services. The InsuranceNewsNet website visits grew by 72 percent to 5 million as they brought comprehensive coverage of the industry. This week, they feature their top five most popular 2017 stories in life insurance, annuities, finance, politics, health insurance and the Department of Labor fiduciary rule. Click HERE […]

    Top 5 Stories of 2017: Life Insurance

    {December 27th, 2017} by John Hilton

    The year in life insurance was one of transition and the perpetual search for strategies to extend coverage to families that might not realize how much they need the product. Our top five stories reflected that industry anxiety. The list is divided into two stories on company reshuffles, and three survey stories on who is […]

    Fee-Based Annuities Bright Spot In Disappointing 2017

    {December 27th, 2017} by Cyril Tuohy

    If 2017 is shaping up to be a letdown for annuity sales, it wasn’t for lack of trying as insurers launched new products and tinkered with product features to burnish annuities for distributors battling a tough regulatory environment. Several trends dominated the annuity industry this year as the products struggled mightily against the Department of […]

    FIA Marketing Tide Shifts to Accumulation

    {December 27th, 2017} by Cyril Tuohy

    In the fixed indexed annuity market, the marketing decibels around the accumulation story are ringing, even if it’s the week before Christmas. “Independent agents continued to shift their emphasis from guaranteed income to accumulation products focused on upside potential,” said John Matovina, CEO of American Equity Investment Life, one of the nation’s largest sellers of […]

    IUL the Life Insurance Star of 2017 Sales

    {December 27th, 2017} by Cyril Tuohy

    The indexed universal life (IUL) insurance line was the star of the life insurance show in 2017, thrust into the spotlight by a supporting cast of new products and features. Click HERE to read the full story via INN; subscription required.    The introduction of performance multipliers and bonuses helped rev up IUL sales, said […]

    Athene Holding Ltd. Enters into Reinsurance Agreement with Voya Financial

    {December 27th, 2017} by Athene Holding Ltd.

    PEMBROKE, Bermuda–(BUSINESS WIRE)–Athene Holding Ltd. (“Athene”) (NYSE: ATH) today announced it has entered into an agreement with Voya Financial (“Voya”) (NYSE: VOYA) to reinsure approximately $19 billion of fixed and fixed indexed annuity liabilities. “We are excited to enter into this agreement with Voya, which is highly strategic for Athene and a compelling example of […]

    Colorado to Get New Insurance Commissioner

    {December 27th, 2017} by Allison Bell

    Marguerite Salazar is giving up the Colorado insurance commissioner title. Salazar, who has been serving both as commissioner and as executive director of the state’s Department of Regulatory Agencies (DORA) since July, will focus on running DORA, according to officials at the Colorado Division of Insurance. Gov. John Hickenlooper, a Democrat, appointed Salazar to the commissioner […]

    Symetra to Update Retirement Distribution Strategy

    {December 27th, 2017} by Allison Bell

    Symetra Life Insurance Company says it wants to “expand its retirement distribution channels’ beyond its current bank, independent broker-dealer and wirehouse relationships. The Bellevue, Washington-based company has named Rich LaVoice to be executive vice president for retirement distribution strategy. Click HERE to read the original story via ThinkAdvisor. The company, which is a unit of Sumitomo […]

    WSJ Finds Fake Comments to DOL Criticizing Fiduciary Rule

    {December 27th, 2017} by Bernice Napach

    When the Labor Department officially delayed full implementation of its fiduciary rule until July 1, 2019, it said the extension would give the department more time “to consider public comments.” Now it turns out that many of those public comments were probably fake, according to an analysis by The Wall Street Journal. The newspaper hired […]

    New York State proposes ‘best interest’ standard for life insurance and annuities

    {December 27th, 2017} by Bloomberg News

    New York State’s top financial watchdog proposed regulations that would require sellers of life insurance and annuities to act in the best interest of clients, raising standards even as the U.S. government delays its fiduciary rule. Click HERE to read the full story via InvestmentNews; registration required. 

    Dear Advisors: Financial Plans are Not Retirement Plans

    {December 27th, 2017} by Brian O'Connell

    A growing number of financial advisors are pointing out an awkward reality on the investment planning market. Too many of those plans are really tricked-up retirement plans, and the distinction between the two is important. “Millions of Americans are walking around with financial plans disguised as retirement plans,” said Peter J. D’Arruda, president of the […]

    Athene Seen As Big Winner In Voya Transaction

    {December 27th, 2017} by Cyril Tuohy

    Athene, a top writer of indexed annuities, will emerge a big winner following Voya Financial’s decision to separate itself from its closed block of variable annuities and its portfolio of individual fixed and fixed indexed annuities, market analysts said. Under the deal, which is expected to close in the first half of 2018, Voya will […]

    Voya Financial to Sell Closed Block Variable Annuity and Fixed and Fixed Indexed Annuities Businesses

    {December 27th, 2017} by Voya

    NEW YORK–(BUSINESS WIRE)–Voya Financial, Inc. (NYSE:VOYA), announced today that it will divest substantially all of its Closed Block Variable Annuity (CBVA) segment and its individual fixed and fixed indexed annuity business through an agreement with a consortium of investors led by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) (NYSE: APO), […]

    Voya Financial to Exit Individual Annuities Business

    {December 27th, 2017} by Allison Prang

    Voya Financial Inc. VOYA -0.92% is selling parts of its annuities businesses to a group of investors led by Apollo Global Management LLC and its affiliates, Crestview Partners and Reverence Capital Partners, the company said Thursday. Voya said the deal—which is a sale of its individual fixed and fixed-indexed annuity business and almost all of its closed block variable-annuity […]

    Security Benefit’s Financial Strength Rating Upgraded to A-

    {December 27th, 2017} by Security Benefit Life Insurance Company

    TOPEKA, Kan., Dec. 20, 2017 (GLOBE NEWSWIRE) — Security Benefit, a leader in the U.S. retirement savings market, today announced that A.M. Best has upgraded its Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Ratings to “a-” from “bbb+” for the firm’s insurance entities, Security Benefit Life Insurance Company […]

    Here’s Why Voya Financial Is Soaring Today

    {December 27th, 2017} by Matthew Frankel

    On Thursday, Voya Financial (NYSE:VOYA) announced its plans to sell virtually all of its Closed Block Variable Annuity (CBVA) business as well as its individual fixed and fixed indexed annuity business. The stock climbed higher on the day after the announcement, and was up by approximately 11% as of 3:20 p.m. EST. So what There are a couple […]

    Happy New Year!

    {December 27th, 2017} by Jamie Johnson

    We will be closed January 1st, 2018 in observance of the holiday.  Our weekly newsletter will resume to Wednesdays beginning on January 3rd, 2018. We are very excited for the new year and our upcoming enhancements. First, we are launching our variable annuity enhancement to Wink’s AnnuitySpecs analysis tool. Contact us for details and stay […]


    {December 27th, 2017} by Ivanka Thompson

    Kansas City Life Insurance Co (NASDAQ:KCLI) announced its quarterly earnings results on Thursday. The financial services provider reported $0.53 earnings per share (EPS) for the quarter. The firm had revenue of $111.24 million for the quarter. Shares of Kansas City Life Insurance (NASDAQ:KCLI) traded down 0.29% during trading on Monday, reaching $45.37. 576 shares of […]

    Life insurance locator helps Coloradans find $1.3 million

    {December 27th, 2017} by Monica Mendoza

    The National Association of Insurance Commissioners has helped Coloradans find $1.3 million in life insurance benefits owed to them. The NAIC created an online search tool, Life Insurance Policy Locator, last November to help people find life insurance and annuities contracts in their names. Colorado’s Division of Insurance said that 757 Coloradans used the search tool and […]

    A Simple Idea for Increasing Annuity Sales

    {December 26th, 2017} by Kerry Pecther

    If you’re a financial advisor struggling to describe the value of a lifetime income product to retirees, you might first try explaining how hard it is for anyone to arrive at an optimal spending rate in retirement so that they don’t run out of money before they die or die before enjoying enough of their […]

    Alexa, can you be my financial planner?

    {December 26th, 2017} by Charlotte Beyer

    Alexa, can you be my financial planner? I asked that question of my new device, a birthday present from my son. The answer? “I don’t know that.” But for how long? Just as other industries have been disrupted by technological advancement, so, too, will the financial industry. Unless planners take advantage of innovation and the […]

    Insurance – Annuities – Commissions

    {December 26th, 2017} by Tom Egan

    Where three plaintiffs have brought a putative class action against 10 insurance companies and subsidiaries alleging that certain commissions charged in connection with annuity payments are unlawful, a civil RICO count must be dismissed without prejudice, as the plaintiffs fail to plead adequately that the defendants and non-party brokers associated together for a common illegal […]

    Fiduciary rule should be decided by Congress: Opinion

    {December 26th, 2017} by Mark Elzweig

    After lobbying hard for the fiduciary rule, consumer advocates clearly do not want to be blamed for the adverse consequences that are now becoming crystal clear. Maybe commissions aren’t so evil after all? All along, industry participants predicted that the rule would accelerate the disenfranchisement of smaller investors and restrict investor choice, and now that’s […]

    Voya to Exit Most of Its Annuity Business

    {December 26th, 2017} by Melanie Waddell

    Voya Financial said Thursday that it plans to divest “substantially” all of its Closed Block Variable Annuity (CBVA) segment and its individual fixed and fixed indexed annuity business so that it can focus on “higher-growth, higher-return, capital-light” retirement, investment management and employee benefits businesses. Voya will divest its annuity business through an agreement with a […]

    Here Are FINRA’s Plans for 2018

    {December 26th, 2017} by Melanie Waddell

    The Financial Industry Regulatory Authority will usher in some firsts in the new year, including sharing its 2018 budget and updated Financial Guiding Principles, as well as a bunch of new rule proposals. FINRA’s board approved the self-regulator’s budget at its meeting in December and said the SRO will publish both its budget and guiding principles in […]

    MDRT Announces New Membership Requirements

    {December 26th, 2017} by MDRT

    PARK RIDGE, Ill. —The Million Dollar Round Table (MDRT) announces updates to its U.S. membership qualifications for 2019. The revised requirement removes product-specific minimums allowing members to further serve their client’s best interest and meet industry regulations enacted by the Department of Labor. Current requirements stipulate a minimum 50 percent of qualifying production come from […]

    DOL rule slowed, not stopped, variable annuity sales

    {December 26th, 2017} by Marlene Y. Satter

    Sales of variable annuities slowed in 2016, as development of new products had to take into account the requirements of the Department of Labor’s fiduciary rule. But that doesn’t mean everything came to a grinding halt—indeed, quite the contrary. New research from Cerulli finds that sales of fee-based VAs and fixed-indexed annuities bucked that trend last year, the only kind […]

    Lincoln Expands Annuity Wholesalers by 15 Percent in 2018

    {December 26th, 2017} by Cyril Tuohy

    Lincoln Financial plans to increase its 240-strong annuity wholesaler force by about 15 percent in 2018 as the company prepares to enter the growing buffered variable annuity market, the company’s top executive said. Most of the wholesaler increase “is going to be supporting product expansion in the bank channel,” through which Lincoln already distributes products, […]

    How Trump’s Tax Act Could Affect Annuity Issuers

    {December 26th, 2017} by Allison Bell

    President Donald Trump signed the new Tax Cuts and Jobs Act into existence on Friday and put the legislative analysts of the world on notice: They now have to find out exactly what’s in the TCJA. The Republican effort to draft, debate and amend the package was so complicated, and so full of suspense, that […]

    Life Insurance Execs See Tax Reform As Good For The Industry

    {December 19th, 2017} by Cyril Tuohy

    Lower corporate tax rates in the $1.5 trillion tax reform package are expected to help the life insurance industry in at least two ways, industry executives say. One way is that group life insurance sales will see a boost as Americans join payrolls in an expanding economy. The other way is that those lower corporate […]

    We wish you a Merry Christmas!

    {December 19th, 2017} by Wink's RockStars

    May the spirit of Christmas bring you peace, hope, and joy. We sincerely thank you for partnering with Wink and look forward to serving you in 2018.    Merry Christmas from our family to yours!  Wink, Inc. and Sheryl J. Moore. The Wink office will be closed on December 25th and December 26th to celebrate […]

    5 Big Questions About Annuities for 2018

    {December 19th, 2017} by Allison Bell

    Making predictions about how 2018 might look for annuities could be even trickier than predicting how the year might look for life insurance. Every trend that puts shadows and mist over the life insurance market puts the same shadows and mist over the annuity market. Annuity issuers, meanwhile, face two additional opposing forces of hostility. Click HERE to read […]

    Tax plan: Everything financial advisers need to know about the final bill

    {December 19th, 2017} by Greg Iacurci

    After days of negotiations, Republican leaders aim to present a final tax bill to Congress for a vote this week, in hopes of getting it to the president’s desk for signature by Christmas. The bill — the Tax Cuts and Jobs Act — reconciles some of the substantial differences in the Senate and House legislation, and contains some important […]

    Symetra Realigns Retirement Sales and Distribution

    {December 19th, 2017} by Symetra

    BELLEVUE, Wash.–(Business Wire)–To better meet the needs of a dynamic retirement marketplace, Symetra Life Insurance Company today announced changes to its retirement sales and distribution organization. Rich LaVoice has been named executive vice president, Retirement Distribution Strategy. Wes Severin has been promoted to senior vice president, Retirement Distribution. Andrew Farrell will take on an expanded role as vice president, national sales […]

    Icons & Innovators

    {December 19th, 2017} by Inves

    InvestmentNews recognizes the icons and innovators who have shaped and transformed the financial advice profession. Meet these 20 visionaries – two icons and 18 innovators – through their profiles and videos, and get inspired by their compelling personal stories and indelible contributions. Click HERE to view the full story; registration required. 

    One in Three Americans Believe Another Major Recession Could Happen in the New Year, but Many Remain Optimistic about Making Money

    {December 19th, 2017} by Allianz

    MINNEAPOLIS–(BUSINESS WIRE)–Looking ahead to the new year, more than a third of Americans (36%) believe another major recession may be in the cards for 2018, according to the 9th annual New Year’s Resolution Survey* from Allianz Life Insurance Company of North America (Allianz Life®). With this outlook in mind, Americans plan to focus more on their […]

    LIMRA Study: Most Annuity Premium Used For Generating Income

    {December 19th, 2017} by LIMRA

    WINDSOR, Conn., Dec. 14, 2017—New analysis by LIMRA Secure Retirement Institute finds that half of the money ($84.5 billion) invested in annuities in 2016 was used to purchase products that offer guaranteed income – either immediately or for the future. “Despite all of the news questioning whether Americans understand annuities, our analysis demonstrates that Americans […]

    9 Details That Could Be Signs of Life Insurance Fraud

    {December 19th, 2017} by Bob Gooderl

    For many, the holiday season marks a time for unwinding, spending time with family and perhaps being a little more generous than usual. In our industry, it also means higher-than-normal volumes of applications, claims and transactions that need to be handled by year end. These personal and professional distractions can make it easier for fraud attempts to slip through […]

    Investor’s column: Pros, cons for fixed indexed annuities

    {December 18th, 2017} by Jim Germer

    The stock market is setting records nearly every day as it approaches 25,000. Now may be the time to consider fixed indexed annuities as an investment because the current bull market, with its high and seemingly illogical asset valuations, is likely unsustainable. Let’s explore why fixed indexed annuities may be a smart investment. “Fixed indexed […]

    To Live Better Longer, you may soon find yourself investing in a tontine

    {December 18th, 2017} by William Borton

    Numerous factors have helped increase human longevity. Many of us will live to be 90, and some perhaps even 100 or more. Unfortunately, in our younger years, many of my fellow Baby Boomers were not particularly focused on the possibility of living 35 years past retirement. Followers of my writings know my mission is to […]

    5 Key Life and Health Sections in Final Tax Bill

    {December 16th, 2017} by Allison Bell

    The new, combined version of H.R. 1, the Tax Cuts and Jobs Act bill, could cost life insurers about $22 billion over the period from 2018 through 2027. Rep. Kevin Brady, R-Texas, originally proposed a version of the tax bill that would raise about $22 billion, by combining a $7 billion change in the tax rules for life insurers’ deferred […]

    MetLife CEO: Lighter Regulations, Tax Reform Brightens 2018 Outlook

    {December 15th, 2017} by Frank Klimko

    NEW YORK – The prospect of a reduced regulatory burden coupled with a potential deep reduction in the corporate tax rate could lessen financial headwinds for MetLife Inc. in 2018, said Steven A. Kandarian, company chairman, president and chief executive officer. “From what we are seeing in Washington, on tax reform, there should be a […]

    Critics say regulation hasn’t curbed overly rosy projections for indexed universal life insurance

    {December 15th, 2017} by Greg Iacurci

    A regulation governing indexed universal life insurance policies has had a fairly limited effect, leading some observers to question whether the regulation went far enough and if more stringent rules are necessary. Click HERE to read the full story via InvestmentNews; registration required.  “Illustrations are what sell cash-value life insurance,” said Sheryl Moore, CEO of Moore […]

    Complexity of new indexed annuities causing concern

    {December 15th, 2017} by Greg Iacurci

    The way indexed annuities have evolved has led to concern from some corners of the insurance market, with some critics saying insurers have developed increasingly complex products in hopes of standing out in a competitive market. Click HERE to read the full story via InvestmentNews; registration required.    While there were only six hybrid indices […]

    Tontines: A New Threat to Annuities?

    {December 14th, 2017} by Kerry Pechter

    Insurance companies “don’t like the ‘t’ word,” one investment strategist told me. He meant tontines. Just when life insurers and retirement providers thought they had weathered the interest rate nightmare, the robo nightmare, and the fiduciary nightmare, along comes a triple-edged nightmare: crypto-currencies, blockchain and tontines. Just as global warming seems to bring stronger, more […]

    Sales of fee-based VAs and FIAs on rise in US: Cerulli

    {December 14th, 2017} by Editorial Staff

    New research from Cerulli Associates, a global research and consulting firm, discusses how the Department of Labor (DOL) Conflict of Interest Rule has slowed development along the variable annuity (VA) product pipeline. However, many insurers were being proactive in 2016 as approximately 25 of the new product filings were I-share VAs (i.e., fee-based VAs). “A […]

    IRI Warns Conflict of Interest Reforms Could Discourage Annuity Use

    {December 14th, 2017} by John Manganaro

    In an open comment letter submitted to the Securities and Exchange Commission (SEC), the Insured Retirement Institute (IRI) stresses the need for any investment industry conflict of interest reforms to be well-coordinated among regulators—and to keep in mind the crucial differences that exist between annuities and equity investments. For context, in June of this year […]

    Genworth Merger Gets New Extension

    {December 14th, 2017} by News & Advance

    RICHMOND – The deadline for a Chinese company’s proposed acquisition of Henrico County-based Genworth Financial Inc. has been extended yet again – this time to April 1 as the companies continue to seek regulatory clearance for the deal. Genworth, a seller of mortgage and long-term care insurance, announced late Wednesday it has reached an agreement […]

    A Walk Through the Insurance Technology Landscape

    {December 13th, 2017} by Cyril Tuohy

    With insurance technologies seeping into agents’ lives, it’s worth taking a closer look at some of the cutting-edge ideas floating about the life and annuity world. Low interest rates have made life difficult for insurers as low investment portfolio yields mean thinner profit margins, and thinner profit margins mean insurers need to operate more efficiently. […]

    Life Insurance – The Bonus Plan for the Executive Who Has Everything

    {December 13th, 2017} by Jason Wellman

    Small business owners have a number of challenges to manage within the normal course of running a company. These challenges include everything from the big-picture details such as making sure the company is profitable and that the lights stay on, to the more routine (but no less important) tasks such as customer service and employee […]

    Kentucky National Insurance Group Acquires Mountain Life Insurance Company

    {December 13th, 2017} by Kentucky National Insurance Group, LLC

    LEXINGTON, Ky., Dec. 6, 2017 /PRNewswire/ — Kentucky National Insurance Group, LLC (parent company of Kentucky Home Life Insurance Company), a Kentucky domiciled insurance company with administrative offices located in Lexington, Kentucky has announced its acquisition of 100% of the common stock of Mountain Life Insurance Company of Alcoa, Tennessee. Under the terms of the agreement, which will take effect January 1, 2018 pending state regulatory […]

    Allianz Life Employees Give Back to Five Local Charities for the Holidays

    {December 13th, 2017} by Allianz

    MINNEAPOLIS–(BUSINESS WIRE)–As part of the annual Spirit of Giving campaign at Allianz Life Insurance Company of North America (Allianz Life®), employees banded together to help make a difference for thousands of people in the Twin Cities during this holiday season. Allianz Life employees donated more than $116,000; 45,000 pounds of food and clothing; 3,800 new […]

    FINRA may make it harder for brokers to erase past indiscretions

    {December 13th, 2017} by Ann Marsh

    Brokers may no longer be able to wipe years’ worth of disciplinary marks off their public BrokerCheck records, thanks to changes proposed by FINRA. The regulator in December released proposed amendments to its controversial expungement process and requested industry comments by February 5, 2018. The proposed changes include a provision that would give brokers just one year to request […]

    Pacific Life Ranked #1 in Overall Indexed Universal Life Sales for Third Quarter 2017

    {December 13th, 2017} by Pacific Life Insurance Company

    ALISO VIEJO, Calif.–(BUSINESS WIRE)–Pacific Life Insurance Company today announced it was the top-ranked indexed universal life insurance performer for the third quarter, led by its top-selling indexed universal life (IUL)1 product, Pacific Discovery Xelerator. According to Wink’s Sales & Market Report for the third quarter 2017, Pacific Life came out on top of 102 indexed and fixed universal […]

    2019 Calendar

    {December 13th, 2017} by Jamie Johnson

    May 8-10, 2019: Morningstar Investment Conference, Chicago, IL May 15-17, 2019: IRI Action19, Washington, D.C. May 20-21 2019: SOA’s Life & Annuity Symposium, Tampa, FL May 28-20, 2019: American Fraternal Alliance 2019 Spring Symposium Jun 2-4, 2019: LIMRA Caribbean Insurance Conference, Quintana Roo, México Jun 2-4, 2019: (IASA) Insurance Accounting & Systems Association, Phoenix, AZ […]

    Americo Introduces a Single-Premium Immediate LTCI Policy

    {December 12th, 2017} by Allison Bell

    Americo Financial Life and Annuity Insurance Company has introduced an unusual product: a single-premium long-term care insurance (LTCI) policy aimed at people who already need long-term care (LTC) services. Americo has designed the new Reliable Living Plan policy to provide a monthly cash indemnity benefit as long as an eligible insured needs qualified LTC services. To be […]

    SIFMA Sees SEC Fiduciary Rule Proposal Within 18 Months

    {December 12th, 2017} by Bernice Napach

    SIFMA officials are optimistic the SEC will develop its own fiduciary rule proposal during the 18 months that full implementation of the Labor Department’s existing rule has been delayed. “I think they can get it down if they want to,” said SIFMA President and CEO Ken Bentsen, at a press conference in New York, about the state […]

    Finra report hints at trouble with L-share variable annuities

    {December 12th, 2017} by Greg Iacurci

    Variable annuities sold in an L share continue to turn up as products plaguing broker-dealers and their compliance departments. Finra, in a recent report detailing its examination findings, called out “multi-share class and complex products” as a primary area of failure for brokerage firms, which struggle to ensure that products their representatives sell are suitable for investors. […]

    SIFMA makes client-data safety a top priority

    {December 12th, 2017} by Bruce Kelly

    The Securities Industry and Financial Markets Association in 2018 will have a new focus on making client data safe and secure, according to Lisa Hunt, who is SIFMA’s chair as well as executive vice president for international services and special business development at Charles Schwab & Co. Click HERE to read the full story via InvestmentNews; […]

    A.M. Best Affirms Credit Ratings of Western & Southern Financial Group Inc. and Its Subsidiaries

    {December 12th, 2017} by AM Best

    OLDWICK, N.J.–(Business Wire)–A.M. Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” for all the life insurance subsidiaries of Western & Southern Financial Group Inc. (WSFG). The subsidiaries are The Western and Southern Life Insurance Company (WSLIC), Western-Southern Life Assurance Company, Columbus Life Insurance Company, Integrity Life Insurance Company, National Integrity Life Insurance […]

    Lincoln Launches FIA With 7-Year Surrender Schedule

    {December 12th, 2017} by Cyril Tuohy

    Contracting sales of fixed indexed annuities (FIAs) in the third quarter weren’t enough to deter Lincoln Financial from expanding its FIA product line, a company executive said. Lincoln’s latest addition to the FIA market, Covered Choice 7, delivers immediate or deferred income. The new product also offers a seven-year surrender schedule and will be distributed […]

    5 LTC Thoughts From a Top Nationwide Executive

    {December 12th, 2017} by Allison Bell

    Eric Henderson has been working to protect Americans from longevity and health risk for years. Henderson, senior vice president of the annuity and life businesses at Nationwide Mutual Insurance Company, came to New York on Monday to try to draw attention to Americans’ unmet long-term care (LTC) planning needs. Click HERE to read the original story via ThinkAdvisor. Nationwide’s Nationwide Retirement […]

    A.M. Best Comments on Credit Ratings of Global Atlantic Financial Group Ltd Following Announced Talcott Resolution Transaction

    {December 12th, 2017} by Best's News Service

    Oldwick – A.M. Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of the subsidiaries of Global Atlantic Financial Group Limited (Global Atlantic) (Hamilton, Bermuda), as well as the Long-Term ICR of “bbb-“ of Global Atlantic, remain unchanged following the Dec. 4, 2017, announcement that a definitive […]

    Nationwide, J.P. Morgan and Annexus Honored at Indexed Insurance Forum 2017

    {December 12th, 2017} by Nationwide

    COLUMBUS, Ohio, Dec. 11, 2017 /PRNewswire/ — Industry leaders Nationwide, J.P. Morgan and Annexus were honored for “Deal of the Year” during an awards ceremony at the SRP Americas Indexed Insurance Forum 2017, held September 13-15 in Des Moines, Iowa. The award ceremony honored leaders in the indexed product space, including carriers, distributors, product developers and actuaries. The event was hosted by […]

    IRI Finds 15% Drop in Q3 Annuity Sales

    {December 11th, 2017} by Allison Bell

    The Insured Retirement Institute says it’s seeing the same slump in U.S. individual annuity sales that two other insurance industry organizations have detected. Revenue from new U.S. sales of individual annuities fell to $44 billion in the third quarter, down 15% from the total for the third quarter of 2016, according to IRI. The Washington-based group gets its non-variable […]

    A.M. Best Comments on Credit Ratings of Global Atlantic Financial Group Limited Following Announced Transaction With The Hartford Financial Services Inc.

    {December 11th, 2017} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of the subsidiaries of Global Atlantic Financial Group Limited (Global Atlantic) (Hamilton, Bermuda), as well as the Long-Term ICR of “bbb-“ of Global Atlantic, remain unchanged following the Dec. 4, 2017, announcement that a […]

    State Insurance Regulators May Get to Outrank CFPB

    {December 11th, 2017} by Allison Bell

    H.R. 3746 has friends at MIT Consumer Financial Protection Bureau building in Washington. (Photo: Diego M. Radzinschi/ALM) Some House members are fighting to give state insurance commissioners the final say when commissioners and the federal Consumer Financial Protection Bureau (CFPB) get into fights over jurisdiction. Click HERE to read the original story via ThinkAdvisor. Rep. Sean Duffy, R-Wis., […]

    Karlan Tucker Reviews Pension Plans Transferring Into Annuities

    {December 11th, 2017} by Tucker Financial Solutions

    Yesterday (Dec. 4, 2017), Molson Coors transferred nearly $1 billion in pension liabilities to an annuity with Athene Annuity and Life Company, according to a report by “Pensions & Investments.” The $900 million amount represents almost a third of Molson Coors’ total pension assets. Athene will assume responsibilities for making the monthly payments to more […]

    Zurich becomes Australia’s biggest life insurer with $2.1 billion ANZ purchase

    {December 11th, 2017} by Zurich Insurance

    ZURICH/SYDNEY (Reuters) – Zurich Insurance (ZURN.S) has agreed to buy Australia and New Zealand Banking Group’s (ANZ.AX) life insurance arm for A$2.85 billion ($2.1 billion), its biggest foray into Australia and its third in the last two years. The deal gives the Swiss insurer the top spot in a market attractive to global players due […]

    ‘Phase 2’ of DOL Rule Is Dead: Brian Hamburger

    {December 11th, 2017} by Melanie Waddell

    “Phase 2” of the Labor Department’s fiduciary rule is “dead,” Brian Hamburger, CEO of the regulatory consulting firm MarketCounsel, said during his opening remarks Tuesday at the firm’s annual summit in Miami Beach. Hamburger told the 500 advisor attendees that “we’re going to table” addressing Labor’s fiduciary rule until next year’s MarketCounsel Summit, noting that […]

    CF Corporation and Fidelity & Guaranty Life Report on Status of Merger

    {December 11th, 2017} by Jamie Johnson

    LAS VEGAS and DES MOINES, Iowa, Oct. 6, 2017 /PRNewswire/ — CF Corporation (NASDAQ: CFCO) (“CF Corp.”), a special purpose acquisition company, and Fidelity & Guaranty Life (NYSE: FGL) (“FGL”), a leading provider of fixed indexed annuities and life insurance in the U.S., today reported on the status of their previously announced merger transaction in which CF Corp. has agreed to acquire […]

    Nationwide Introduces First Fee-based Fixed Indexed Annuity to Trust Company of America’s Liberty Platform

    {December 11th, 2017} by Nationwide

    COLUMBUS, Ohio, Dec. 7, 2017 /PRNewswire/ — Nationwide, a leading insurance and financial services organization, and Trust Company of America (TCA), the largest independent provider of integrated technology and custody for registered investment advisors (RIAs), partnered to announce today that the fee-based Nationwide Summit® fixed indexed annuity (FIA) has been added to TCA’s Liberty platform. Pending DOL regulation has […]

    Tennessee Commissioner McPeak Elected NAIC President for 2018

    {December 11th, 2017} by Best's News Service

    HONOLULU – Tennessee Insurance Commissioner Julie Mix McPeak has been elected as the new president of the National Association of Insurance Commissioners. McPeak, who became NAIC president without opposition, had served for the past year as the president-elect and was next in the line of officer succession when the executive committee took its vote during […]

    Retirement planning explained by financial expert, Jim Poolman

    {December 10th, 2017} by Michelle Tompkins

    Retirement savings is an abstract concept for many Americans.  It can be a little scary to figure out how to navigate the rough terrain that is finances.  Well, Jim Poolman, the Executive Director of the Indexed Annuity Leadership Council offers some sound tips to help you understand planning for retirement a bit more. Jim Poolman connected with Michelle Tompkins for TheCelebrityCafe.com […]

    A.M. Best Revises Outlooks to Stable for Zurich Insurance Group Ltd and Its Main Rated Subsidiaries

    {December 8th, 2017} by Best's News Service

    CONTACTS: Salman Siddiqui Associate Director, Analytics +44 20 7397 0331 salman.siddiqui@ambest.com Darian Ryan Senior Financial Analyst–P/C +1 908 439 2200, ext. 5449 darian.ryan@ambest.com Frank Walko Financial Analyst–L/H +1 908 439 2200, ext. 5072 frank.walko@ambest.com Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext. 5159 christopher.sharkey@ambest.com Jim Peavy Director, Public Relations +1 908 439 2200, […]

    Voya in Talks With Apollo to Sell Annuity Assets

    {December 8th, 2017} by Leslie Scism

    Voya Financial Inc. VOYA +0.37% is in advanced negotiations to sell as much as about $50 billion of retirement-income annuities to private-equity giant Apollo Global Management LLC. Financial terms couldn’t be learned. The annuities being sold, according to people familiar with the matter, are mostly part of a product that proved overly generous to consumers and caused large losses […]

    Marc-André Giguère to Lead Munich Re’s U.S. Operations

    {December 8th, 2017} by Allison Bell

    Marc-André Giguère will be taking over as president and chief executive officer of Munich Re, US (Life and Health) in January. Giguère has been the executive vice president of reinsurance at Munich Re, US (Life), since July. He has also been the president of the Munich Re Health unit. Giguère will be succeeding Michael DeKoning, who has […]

    Legacy Marketing Group® Introduces the Reliable Living Plan™

    {December 7th, 2017} by Legacy Marketing Group

    A reliable, tax-free* solution to help consumers confidently cover the costs of long-term care. PETALUMA, CA, December 7, 2017—Legacy Marketing Group® is excited to introduce the Reliable Living PlanTM, a unique alternative to traditional long-term care (LTC) insurance, underwritten by Americo Financial Life and Annuity Insurance Company. The Reliable Living PlanTM is single-premium LTC insurance […]

    How Are Millennials’ Financial Mindset Impacting the Evolution of Retail?

    {December 7th, 2017} by CouponFollow

    NEW YORK, Dec. 5, 2017 /PRNewswire/ — Millennials now account for 28% of all daily per-person consumer spending and, in just two years, are expected to contribute nearly $1 trillion to the US economy, according to Gallup. Y Yet, despite the generation’s obvious market power, they lack sufficient savings and feel apprehensive about their current […]

    Next Financial whacked (once again) by Finra

    {December 7th, 2017} by Bruce Kelly

    Next Financial Group Inc. is back in hot water with regulators and agreed on Tuesday to pay a $750,000 fine to Finra as part of settlement for a variety of violations, including the failure to catch a broker’s excessive trading and poor supervision of variable annuity sales. Click HERE to read the full story via […]

    Annuities Beat CDs by Offering Higher Guaranteed Rates and Tax Savings

    {December 7th, 2017} by Ken Nuss

    Americans love certificates of deposit. But fixed-rate annuities, which function like CDs, usually pay a significantly higher guaranteed rate, and they offer tax deferral. CDs have one main advantage over annuities: they’re insured by the FDIC. But I think it’s a tiny advantage, all things considered. Fixed annuities are guaranteed by life insurance companies, which are […]

    When It Comes To Your Retirement, Beware Of The Absolute: OPINION

    {December 7th, 2017} by Bob MacDonald

    If you are on the cusp of retirement, get ready for more attention than a high school football phenom being recruited by scores of solicitous college coaches. The reason for your sudden popularity is that you are a member of a large group approaching retirement age that has accumulated almost $13 trillion dollars — yes, […]

    Legacy Marketing Group Introduces the Reliable Living Plan

    {December 7th, 2017} by Legacy Marketing Group

    PETALUMA, CA, December 7, 2017—Legacy Marketing Group® is excited to introduce the Reliable Living PlanTM, a unique alternative to traditional long-term care (LTC) insurance, underwritten by Americo Financial Life and Annuity Insurance Company. The Reliable Living PlanTM is single-premium LTC insurance for those age 65 or older who are either unable to perform at least two of […]

    Voya Financial Advances Inclusion for People with Disabilities with $520,000 Donation to Special Olympics

    {December 7th, 2017} by Voya

    NEW YORK, Dec. 7, 2017 /PRNewswire/ — Voya Financial, Inc. (NYSE: VOYA), announced today that the company will donate $520,000 to Special Olympics as a result of the success of its Invest in Something Special effort. The weeklong social media campaign was designed to share the goals and dreams of Special Olympics athletes on social media and raise money for local U.S. Programs. […]

    Global Atlantic among investors in Hartford’s annuity unit

    {December 6th, 2017} by The Business Record

    The Hartford Financial Services Group Inc. said it will sell an annuities operation that it has been winding down since 2012 to a group of investors, the Wall Street Journal reported. The Connecticut-based insurer created the unit, Talcott Resolution, several years after the 2008-09 financial crisis to house the variable annuity business that had made it one of […]

    Preliminary Results Show U.S. Life/Annuity Industry’s Net Income More Than Doubled in 2017

    {December 6th, 2017} by Best’s Financial Strength Rating

    A.M. Best’s First look report is designed to provide an early insight into the current financial state of the U.S. life/annuity industry. the data contained in this report are from companies whose nine months 2017 interim period statutory statements were received as of November 27, 2017. These companies represent an estimated 91% of total industry premiums and annuity considerations […]

    Betting on Alexa to change financial services

    {December 6th, 2017} by Mary Wisniewski

    When Ally Bank was testing the usability of its service for Amazon’s digital voice assistant, the direct bank saw a risk for Alexa to interpret “high yield” as “high heeled.” Ally fine-tuned the code on devices like Echo to properly understand the utterance. It also tweaked the code so that Alexa didn’t misinterpret CD as “compact […]

    3 Mysteries About the Would-Be Owner of a Big Annuity Business

    {December 6th, 2017} by Allison Bell

    A list of the leading U.S. issuers of life and annuity business created in 2005 would have looked pretty much like a similar list compiled a century earlier Established distribution networks, complicated regulations and sheer size built formidable moats around the big gorillas. Now, however, the Internet, the Great Recession, low interest rates and regulatory change have rearranged the moats. […]

    Financial Incentives Can Discourage Whistleblowing: Study

    {December 6th, 2017} by Emily Zulz

    Financial awards can unintentionally discourage a whistleblower from reporting fraud in a timely manner by hijacking their moral motivation to do the right thing, according to a new study. The study by researchers at Florida Atlantic University, Wilfrid Laurier University in Ontario and Providence College in Rhode Island — “Hijacking the Moral Imperative: How Financial […]

    Julie Mix McPeak Takes Over As NAIC President

    {December 6th, 2017} by Allison Bell

    Julie Mix McPeak is now the president of the National Association of Insurance Commissioners. McPeak, the Tennessee insurance commissioner, took over as the head of the Kansas City, Missouri-based regulator group earlier this week, at the NAIC’s fall national meeting in Honolulu. NAIC members also elected Eric Cioppa of Maine president-elect, Eric Cioppa of Maine vice president and […]

    Life Insurance Application Activity Rises

    {December 6th, 2017} by Allison Bell

    MIB Group Inc. has found a sign that U.S. individual life insurance sales could be starting to recover. The Braintree, Massachusetts-based industry consortium says life insurance application activity for U.S. consumers of all ages was 1.2% higher in November than it was in November 2016. Activity for consumers ages 45 to 59 fell 1%, year-over year. But activity […]

    ACLI Finds Fewer Life Insurers, More Life Workers

    {December 6th, 2017} by Allison Bell

    The number of U.S.-owned life insurers operating in the United States fell 2.1% in 2016, to 797, but total U.S. life insurance industry employment increased. The home office head count increased 5.5%, to 348,300, which is the highest life insurer home office head count recorded since 2010. Click HERE to read the original story via ThinkAdvisor.  The number […]

    2017 Women to Watch: Mary O’Connor

    {December 6th, 2017} by Matthew Learner

    Mary O’Connor Head of client, industry and business development Willis Towers Watson P.L.C. London Age: 51 Mary O’Connor discovered risk at Willis Towers Watson P.L.C. after a diverse career that took her from prosecuting criminals in Washington, D.C., to being a financial regulator in London. “I was a lawyer and a prosecutor in the U.S. […]

    CANNEX Rolls Out Industry-First Comparative Illustration Platform for Variable & Fixed Indexed Annuity Benefits

    {December 6th, 2017} by Cannex

    NEW YORK and TORONTO, Dec. 6, 2017 /PRNewswire/ — CANNEX Financial Exchanges today announced the rollout of a new set of annuity comparison tools – CANNEX VA AnalysisSM and CANNEX FIA AnalysisSM. These tools have been developed on a new patent pending comparative illustration platform. The platform enables financial institutions and advisors working with clients […]

    Finra Releases First Exam Findings Report

    {December 6th, 2017} by Melanie Waddell

    The Financial Industry Regulatory Authority on Wednesday released its first exam findings report, which focuses on “selected observations” from recent exams that FINRA considers “worth highlighting” because of their impact on the industry. Click HERE to read the original story via ThinkAdvisor.  The 14-page report “does not represent a complete inventory of observations about the industry as a whole, […]

    3Q Annuity Sales Trends Defy Explanation

    {December 6th, 2017} by Cyril Tuohy

    Third-quarter overall individual annuity sales dropped 13 percent to $46.8 billion from a year ago, but there was no shortage of theories to explain why. Money stayed on the sidelines, money moved into more flexible managed accounts, money rolled over from CDs and stayed there thanks to narrowing spreads, the partial implementation of the fiduciary […]

    CF Corporation Completes Acquisition of Fidelity & Guaranty Life

    {December 5th, 2017} by FGL Holdings

    NEW YORK and DES MOINES, Iowa, Nov. 30, 2017 /PRNewswire/ — CF Corporation (NASDAQ: CFCO) (“CF Corp.”), HRG Group, Inc. (NYSE: HRG) and Fidelity & Guaranty Life (NYSE: FGL) (“FGL”), a leading provider of fixed indexed annuities and life insurance in the U.S., announced today that they have completed their previously announced merger transaction under which CF Corp. acquired FGL for $31.10 per share […]

    A.M. Best Upgrades Issuer Credit Ratings of Securian Financial Group, Inc. and Its Key Insurance Subsidiaries

    {December 5th, 2017} by Best's News Service

    Oldwick – A.M. Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa” from “aa-” and affirmed the Financial Strength Rating (FSR) of A+ (Superior) of Minnesota Life Insurance Company(Minnesota Life) and its subsidiary, Securian Life Insurance Company. Concurrently, A.M. Best has upgraded the Long-Term ICR to “a+” from “a” and affirmed the FSR of A (Excellent) […]

    The Rise of the Volatility-Controlled Annuity

    {December 5th, 2017} by Chris Conklin

    The appeal of an indexed annuity is that it is a savings vehicle which credits interest based on an index, such as that of a stock market. At the end of a contract year, if the index has increased, some or all of the increase is credited to the annuity. If, on the other hand, the index […]

    3 Things to Know About the Fiduciary Rule’s Little Brother

    {December 5th, 2017} by Allison Bell

    State insurance regulators could make their own annuity sales standards more like the standards in the U.S. Department of Labor’s new fiduciary rule. A top-level division of the National Association of Insurance Commissioners decided Monday to move ahead with an annuity sales standards revision project. The division, the NAIC’s Life Insurance and Annuities Committee, will be asking for […]

    States may strengthen rules for selling annuities

    {December 5th, 2017} by Mark Schoeff Jr.

    State insurance commissioners this weekend will consider a draft proposal to strengthen the rules for selling annuities, an effort to put the marketing of the products more in line with the trend toward heightened investment advice standards. But a supporter of the Labor Department’s fiduciary rule said the insurance regulators’ initial attempt falls short of […]

    3 Life Sales Innovation Mysteries That Drive Actuaries Wild

    {December 5th, 2017} by Allison Bell

    Actuaries at the National Association of Insurance Commissioners are trying to figure out what words to use to talk about the new life insurance sales, underwriting and policy issue strategies, so they can analyze how the new strategies affect product performance. Click HERE to read the original story via ThinkAdvisor. The NAIC’s Life Actuarial Task Force (LATF) included […]

    Lincoln Financial Group Launches Lincoln Covered Choice 7 Fixed Indexed Annuity

    {December 5th, 2017} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE:LNC) today announced that it has enhanced its fixed annuities offerings with the launch of Lincoln Covered ChoiceSM7, a single premium fixed indexed annuity with a seven-year surrender charge schedule. A fixed indexed annuity is designed for retirement or other long-term needs and is intended for a person who has sufficient cash or […]

    AIG Introduces State of New York’s First Fixed Annuity with a Guaranteed Lifetime Withdrawal Benefit

    {December 5th, 2017} by American International Group

    NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE:AIG), announced today the launch of Assured Edge Income Builder-NY, a new fixed annuity product issued by The United States Life Insurance Company in the City of New York. It is the first fixed annuity with a guaranteed lifetime withdrawal benefit offered in New York. Assured Edge Income Builder […]

    8 Signator advisors honored by Women in Insurance & Financial Services

    {December 5th, 2017} by Signator Investors, Inc.

    BOSTON, Nov. 27, 2017 /PRNewswire/ — Signator Investors, Inc., John Hancock’s dual registered broker dealer/investment adviser, announced that several of its advisors have been recognized by Women in Insurance & Financial Services (WIFS) at its 2017 National Conference last month in Minneapolis, MN. WIFS Circle of Excellence recognizes its members who opted to be identified for achieving significant income levels […]

    State Insurance Regulators Could Set Their Own Best Interest Standard

    {December 5th, 2017} by Allison Bell

    State insurance regulators are preparing to discuss a proposal for adding a best interest standard to their own annuity sales standards model. Earlier this year, the National Association of Insurance Commissioners set up an Annuity Suitability Working Group to look at the NAIC’s Suitability in Annuity Transactions Model Regulation (Model Number 275). The working group plans to look at a draft […]

    A.M. Best Affirms Credit Ratings of Symetra Financial Corporation and Its Subsidiaries

    {December 5th, 2017} by Symetra Life Group

    OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” 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, A.M. Best has affirmed the Long-Term ICR of “bbb+” and […]

    David Noble honored posthumously with NAFA’s Bo Johnson Spirit Award

    {December 5th, 2017} by Brian Anderson

    Indexed annuities lost a long-standing champion of the product category earlier this year when David J. Noble, founder of American Equity Investment Life Holding Company, passed away back in April at the age of 85. But his legacy lives on, and grew again recently when NAFA, the National Association for Fixed Annuities, honored Noble (pictured […]

    Level Fee Trend Survives Fiduciary Rule Delays

    {December 5th, 2017} by Robert Bloink, and William H. Byrnes

    The Department of Labor (DOL) fiduciary rule has recently undergone a series of setbacks and delays—but that hasn’t changed the fact that it has triggered a fundamental shift in the way many advisors currently do business.  Click HERE to read the original story via ThinkAdvisor. Evidence of this shift is perhaps most prominent among advisors […]

    The Hartford Announces Agreement To Sell Talcott Resolution

    {December 5th, 2017} by The Hartford

    HARTFORD, Conn.–(BUSINESS WIRE)–The Hartford has entered into a definitive agreement to sell Talcott Resolution, its run-off life and annuity businesses, to a group of investors led by Cornell Capital LLC, Atlas Merchant Capital LLC, TRB Advisors LP, Global Atlantic Financial Group, Pine Brook and J. Safra Group. Total consideration to The Hartford is $2.05 billion, comprised […]

    IUL Shines Brightest in a Wilting Life Market in Q3

    {December 5th, 2017} by Cyril Tuohy

    Indexed universal life sales continued to roar ahead in a sputtering life insurance market, according to the latest data. IUL sales rose 8 percent in the third quarter compared to the year-ago period, market tracker LIMRA reported. Wink’s Market & Sales Report had similar figures, reporting a 6 percent rise in third-quarter IUL sales to […]

    Hartford to sell ‘run-off’ life insurance business

    {December 5th, 2017} by Leslie Scism

    The Hartford Financial Services Group Inc. said Monday it will sell an annuities operation that it has been winding down since 2012 to a group of investors, helping close the door on a painful chapter in the 207-year history of Hartford. The Connecticut-based insurer created the business, Talcott Resolution, several years after the 2008-09 financial […]

    Goldman Vet Cornell, Bob Diamond Make $2 Billion Annuity Bet

    {December 5th, 2017} by Sonali Basak , Katherine Chiglinsky , and Matthew Monks

    Cornell Capital, the firm run by Goldman Sachs Group Inc. alumnus Henry Cornell, and a group of investors including ex-Barclays Plc chief Bob Diamond’s investment firm agreed to buy a stake in an annuity unit from Hartford Financial Services Group Inc. for about $2.05 billion. Cornell’s company and Diamond’s Atlas Merchant Capital, along with Goldman-backed […]

    Global Atlantic to Reinsure $9 Billion of Fixed Annuities and Other Spread Business as Part of The Hartford’s Sale of Talcott Resolution

    {December 5th, 2017} by Global Atlantic Financial Group

    NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group announced it is reinsuring through a subsidiary approximately $9 billion of fixed annuities and other spread-based reserves following The Hartford’s sale of Talcott Resolution. The sale is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first half of 2018. With this deal, Global […]

    Distracted by fiduciary delays, advisors slow to make changes

    {December 4th, 2017} by Yueqi Yang

    Advisors are distracted by the ongoing fiduciary rule drama and see no major changes on their product choices yet, according to a recent study by Pershing. Political and regulatory uncertainty are advisors’ top business challenge, followed by the fiduciary rule, the study shows. Yet the noise in the regulatory debate isn’t going away anytime soon. […]

    Don’t leave our young insurance stars in a void – reach out and build bridges

    {December 4th, 2017} by Bethan Moorcraft

    The insurance industry recruitment drive is on! Companies across the US are working tirelessly to address the workforce gap that’s set to plague the industry within the next few years. But are we making the most of the rich pickings at our doorsteps? Insurance and risk management programs are starting to take-off at top universities […]

    What Do Indexed Life Sales Really Mean?!

    {December 4th, 2017} by Sheryl J. Moore

    (or, Reviewing the Reliability and Validity of Target Premium as a Measure of Indexed Life Sales) Recently, someone who likes to call themselves an “expert” on indexed life began proselytizing around why they were “outraged” about a specific company being ranked #1 in indexed life sales by Wink’s Sales & Market Report. This individual feels […]

    Athene Signs Pension Buyout Agreement with MillerCoors

    {December 2nd, 2017} by Athene Holding Ltd.

    PEMBROKE, Bermuda–(BUSINESS WIRE)–Athene Holding Ltd. (“Athene”) (NYSE: ATH) announced today that Athene Annuity and Life Company (“AAIA”), Athene’s wholly-owned Iowa-domiciled life insurance subsidiary, has entered into a pension buyout agreement with Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) and its wholly-owned subsidiary MillerCoors LLC (“MillerCoors”). The transaction is structured as a buyout arrangement in […]

    IUL Sales Rise 6 Percent in Q3

    {December 1st, 2017} by Cyril Tuohy

    Third-quarter sales of indexed universal life (IUL) fell 1 percent to $479.5 million compared to the second quarter. IUL sales were still up 6 percent compared to the year-ago period, Wink’s Sales & Market Report reported. Sales figures are being affected by how companies respond to new actuarial risk assessments, analysts say. Click HERE to read […]

    Best’s Review: Meet the New MetLife

    {December 1st, 2017} by Lynna Goch

    OLDWICK, N.J. – MetLife began 2017 as the largest U.S. life insurer and ended it as No. 2. That was the plan. Best’s Review’s cover story, “A New Life,” takes a look at MetLife, its business transformation and the company’s vision for the future. MetLife has repositioned itself as a diversified, technologically-advanced global carrier. It […]

    Despite Delays, DOL Rule Becoming Law Of The Land, Expert Argues

    {December 1st, 2017} by Tracey Longo

    Despite a year-and-a-half delay and an imminent legal decision in a blockbuster industry lawsuit to force the Department of Labor to vacate its fiduciary regulation, the rule is fast becoming standard operating procedure at most firms, says Marcia Wagner, principal of the national law firm Wagner Law Group. “We will definitely see some changes and […]