Selling Annuities Is the Right Thing to Do: Life CEOs
June 12, 2019 by Allison Bell
Two life insurance company leaders told an audience full of money managers that the world needs annuities, and that the life industry needs to do better job of explaining how important and necessary annuities are.
Mark Mullin, the chief executive officer of Transamerica Corp., and Mark Pearson, the CEO of AXA Equitable Holdings Inc., talked about society’s need for annuities Thursday, in New York, at an insurance conference organized by S&P Gobal Ratings.
The conference brought insurance company financial executives together with the investment bankers and other professional advisors that help insurers get financing.
In the United States, the baby boomers are now starting to draw on their 401(k) plan assets, and they need help with income planning, Mullin said, during a life company CEO panel discussion.
“We have a moral responsibility to help people retire with grace and dignity,” Mullin said.