Ameriprise Adjusts Annuity Offerings for Low-Rate Environment
February 5, 2020 by Allison Bell
Ameriprise Financial Inc. is responding to falling interest rates by putting more emphasis on sales of annuities without return guarantees.
Executives from the Minneapolis-based company talked about the company’s annuity product strategy Thursday, during a conference call with securities analysts.
Ameriprise is reporting $463 million in net income for the fourth quarter of 2019 on $3.3 billion in revenue, compared with $539 million in net income on $3.2 billion in revenue for the fourth quarter of 2018.
Here’s what happened at the annuity unit and to the protection unit, which sells life insurance and related products.