Lincoln Financial Says Last Quarter Looked Good: Earnings
{February 11th, 2020} by Allison Bell
Executives from Lincoln National Corp. — a company better known as Lincoln Financial Group — are telling roughly the same kinds of earnings story that colleagues at other life and health insurers have been telling this month. All sorts of headwinds could have caused problems in the fourth quarter of 2019, and could still cause problems later, but, […]
Brighthouse Shows That Net Income Is Having Problems: Earnings
{February 11th, 2020} by Allison Bell
Brighthouse Financial Inc. posted a net loss over $1 billion late Monday — and its share price rose about 12% this morning, to close to $48. The Charlotte, North Carolina-based life insurer showed that an accounting approach that’s supposed to make financial services companies’ strength easier to track has instead caused investors to pay less attention to net […]
Comment ‘Pawns’ Helped Kill DOL Fiduciary Rule: House Hearing Witness
{February 11th, 2020} by Allison Bell
At least some members of the House Financial Services Committee say that fake public commenters have hurt the integrity of the public comment processes for new federal regulations — including the U.S. Department of Labor’s fiduciary rule effort. The House Financial Services oversight subcommittee held a hearing on public comment integrity in Washington, last week. The subcommittee gave […]
Integrity Marketing Acquires Ad Agency
{February 11th, 2020} by Allison Bell
A mass insurance products distributor buyer today announced a different kind of deal. Integrity Marketing Group LLC of Dallas says it has acquired ThomasArts, a Salt Lake City-based ad agency that specializes in ads for Medicare plans and other products aimed at consumers ages 50 and older. Integrity Marketing did not say how much it […]
Integrity Marketing Group Acquires ThomasArts-A National Advertising Agency focused on the Senior Market
{February 11th, 2020} by Integrity Marketing Group
DALLAS, Feb. 11, 2020 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), the nation’s largest independent distributor of life and health insurance products, today announced it has completed the acquisition of ThomasArts, an advertising agency specializing in the senior insurance market. Financial terms of the transaction were not disclosed. As part of the deal, ThomasArts Chief Executive Officer Dave Thomas, […]
FINRA Issues RMD Alert on Secure Act Changes
{February 11th, 2020} by Melanie Waddell
New required minimum distribution rules under the Setting Every Community Up for Retirement Enhancement Act of 2019, or the Secure Act, are prompting regulators to alert investors as well as broker-dealers and advisors to some “tricky” new requirements. The Financial Industry Regulatory Authority, for instance, just released an “updated” Investor Alert that answers questions on […]
Equitable Moves Another Step Away From AXA
{February 11th, 2020} by Allison Bell
A company that was once a high-profile pillar of the U.S. life insurance industry is continuing to reestablish itself as an independent, U.S.-based company. Equitable Holdings Inc. announced Friday that Thomas Buberl — the chief executive officer of AXA S.A. — has left the Equitable board. The Equitable Life Assurance Society of the United States was founded in […]
AM Best Affirms Credit Ratings of Subsidiaries of CUNA Mutual Holding Company
{February 10th, 2020} by A.M. Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of CMFG Life Insurance Company (CMFG Life), the lead life and annuity writer, and MEMBERS Life Insurance Company (MEMBERS Life), a life and annuity subsidiary. Both companies are life/health subsidiaries of CUNA […]
Horace Mann Reports Strong 2019 Results
{February 10th, 2020} by Horace Mann Educators Corporation
SPRINGFIELD, Ill.,–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) today reported financial results for the quarter and full-year ended December 31, 2019: Horace Mann Consolidated Financial Highlights Three Months Ended December 31, Twelve Months Ended December 31, ($ in millions, except per share amounts) 2019 2018 […]
Lincoln Financial Group Reports Fourth Quarter and Full Year 2019 Results
{February 10th, 2020} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported net income for the fourth quarter of 2019 of $431 million, or $2.15 per diluted share available to common stockholders, compared to net income in the fourth quarter of 2018 of $399 million, or $1.80 per diluted share available to common stockholders. Fourth quarter adjusted income […]
Annuities About to Have a Bigger Footprint in 401(k)s
{February 10th, 2020} by John Miller
With the SEC making the offering of annuities in companies’ 401(k) retirement plans easier, we are now scrambling to make this type of investment more transparent. There is something particularly tempting about annuities that appeal to a lot of people, for the same reasons that they loved fixed benefit pension plans. There is no doubt […]
Brighthouse, Athene announce FIA innovations
{February 8th, 2020} by Editorial Staff
Competition and the low interest rate environment continues to drive innovation in the fixed indexed annuity market as companies try to dress up their products and avoid a trend toward commoditization. Click HERE to read the full story via RIJ The average cap rate on an FIA account that’s linked to the S&P500 […]
The Impact of SECURE Act Lifetime Income Projections
{February 8th, 2020} by John Manganaro
Commenting on the passage seven weeks ago of the Setting Every Community Up for Retirement Enhancement (SECURE) Act, Geoffrey Dietrich, executive vice president of the eponymous retirement plan insurance firm DIETRICH, says his view on the potential effect of the legislation differs somewhat from that of other analysts. Many retirement industry observers have opined that the […]
Why life insurance is the new stretch IRA
{February 8th, 2020} by Ed Slott
Advisors should move quickly with new estate planning advice for clients now that the Secure Act has passed. This law, which eliminated the stretch IRA plan for most nonspouse beneficiaries and replaced it with a 10-year rule, is already effective for deaths that occurred in 2020. While planners can still help clients maintain their goals, […]
1 in 4 adults can’t name a single life insurer?
{February 7th, 2020} by Insurance Forums Staff
A new LIMRA study finds 1 in 4 adult Americans cannot name a single company that sells life insurance and a majority (56%) are unable to name three life insurance companies. As discouraging as this may sound, it does reflect an uptick in unaided awareness of life insurance brands among U.S. consumers, compared to 2014 results. Over […]
Annuities are heading to 401(k)s
{February 7th, 2020} by Emile Hallez
The SECURE Act provided a gateway to get annuities into 401(k)s, and many plans could begin to incorporate those insurance products as soon as this year. Click HERE to read the full story via InvestmentNews
Equitable Holdings Schedules Announcement of Fourth Quarter and Full Year 2019 Results
{February 5th, 2020} by Equitable Holdings
NEW YORK–(BUSINESS WIRE)–Equitable Holdings, Inc. (NYSE: EQH) announced today that it will release financial results for the fourth quarter and full year 2019 after the market closes on Wednesday, February 26, 2020. The company will host a conference call webcast on Thursday, February 27, 2020 at 8:00 a.m. ET to discuss the results. The conference […]
Brighthouse Financial Launches Fixed Index Annuity with Market Synergy Group
{February 5th, 2020} by Brighthouse Financial, Inc.
CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) announced today that it has entered the independent marketing organization (IMO) distribution channel with Brighthouse SecureAdvantageSM 6-Year Fixed Index Annuity (FIA). Key features of SecureAdvantage 6-Year include 6-Year Annual Sum Index Account options1 as well as greater transparency into the daily values of the contract than is typical […]
Penn Mutual Launches Two New Universal Life Products
{February 5th, 2020} by Penn Mutual
HORSHAM, Pa.–(BUSINESS WIRE)–Penn Mutual recently released two new universal life products, expanding on its comprehensive portfolio. The Accumulation Builder Flex Index Universal Life (IUL) and Diversified Advantage Variable Universal Life (VUL) products equip consumers with robust allocation options and propels Penn Mutual forward as a strong competitor in the market with an emphasis on new […]
Securian Financial Launches New IUL Product Focused on Accumulation—without High Fees and Multipliers
{February 5th, 2020} by Securian Financial
ST. PAUL, Minn.–(BUSINESS WIRE)–Securian Financial has launched an easy-to-understand indexed universal life (IUL) insurance product without the complications of multipliers and additional fees. Eclipse Accumulator IUL, issued by Minnesota Life Insurance Company, is an accumulation-focused policy for clients seeking—in addition to a death benefit—supplemental income for retirement funding, college funding or non-qualified deferred compensation. Its […]
Athene Enhances Its Fixed Indexed Annuity Lineup
{February 5th, 2020} by Athene USA
WEST DES MOINES, Iowa–(BUSINESS WIRE)–Athene USA (“Athene”), a leading provider of retirement savings products, has added the Nasdaq FC Index, sponsored by Bank of America, and the AI Powered US Equity Index, sponsored by HSBC, to its suite of fixed indexed annuities. The annuities are issued by Athene Annuity and Life Company, a subsidiary of […]
Sammons Financial Refreshes Brand Identity as Company Enters New Decade
{February 5th, 2020} by Sammons Financial Group
Logo design connects the distinct Sammons Financial lines of business through a new look and image. WEST DES MOINES, Iowa, Jan. 30, 2020 (GLOBE NEWSWIRE) — Sammons® Financial Group, Inc. is introducing a new marketing name and brand image to provide an updated look and feel to the company. The new oak leaf imagery unifies the distinct […]
NAIFA Announces the Talent Development Center for Financial Service Professionals
{February 5th, 2020} by NAIFA
The new Talent Development Center bundles together business & personal performance programs for every career stage Falls Church, Va. – The National Association of Insurance and Financial Advisors (NAIFA) announced the creation of the Talent Development Center which focuses on providing personal development programs to serve every stage of a financial service professional’s career. […]
Ameriprise Adjusts Annuity Offerings for Low-Rate Environment
{February 5th, 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 […]
NAIFA ‘s 130th Anniversary Will Be Celebrated at the May 2020 Congressional Conference
{February 5th, 2020} by NAIFA
FALLS CHURCH, VA. (PRWEB) FEBRUARY 01, 2020 Members of the National Association of Insurance and Financial Advisors (NAIFA) representing communities from all 50 states will gather in Washington, D.C., May 19-20, 2020, for NAIFA’s eighth annual Congressional Conference. Registration for the event opens Jan. 30 at 2 PM (EST). Where: Marriott Renaissance DC Downtown, Washington, […]
All the 2020 Super Bowl commercials, ranked
{February 5th, 2020} by Steve Johnson
New York Life – “Love Takes Action”– Back to school, kids. New York Life is teaching us about the four words the ancient Greeks had for love, culminating in the most profound, agape. That’s the one beyond philia and eros where you go the extra mile to, say, bathe an aged partner who needs […]
Judge Denies Bid by Global Bankers Owner to Dismiss Bribery Charges
{February 5th, 2020} by A.M. Best
STATESVILLE, N.C. – A federal judge has dismissed bids by insurance executive Greg Lindberg and his fellow co-defendants to have bribery and related charges against them thrown out of court. The ruling by District Judge Max O. Cogburn Jr. of North Carolina’s Western District clears a path to a scheduled Feb. 18 trial for Lindberg, […]
Putting Off Big Life Moves May Help Finances: Life Happens
{February 5th, 2020} by Allison Bell
Many people who have put off major life milestones, such as getting married or having children, say those delays have improved their financial security. Life Happens — a consumer outreach group based in Arlington, Virginia — has posted data on the effects of milestone delays in a summary of results from a survey of 2,000 Americans that […]
Firm Tallies U.S. Insurer Deal Value
{February 5th, 2020} by Allison Bell
Companies announced 43 U.S. mergers, acquisitions and big capitalization deals in December, and those deals had a total deal of about $9 billion, according to GlobalData PLC. The deals had an average value of about $21 million. GlobalData has not provided comparable data for 2018. The London-based firm says the United States averaged 52 insurance […]
How to Avoid the Secure Act’s Long-Term Tax Traps
{February 5th, 2020} by Joe Elsasser
Welcome to Hidden Value, the column where Joe Elsasser, CFP, addresses common financial planning issues with insights advisors and their clients may not have considered. Many Americans have started to adjust to changes brought on by the sweeping tax overhaul enacted in 2017. However, new changes introduced by the recent Setting Every Community Up for […]
10 TED Talks Advisors Recommend
{February 5th, 2020} by Ginger Szala
While interviewing top women in wealthtech for a recent cover story in Investment Advisor magazine, we noticed that several of these leaders mentioned that one of their favorite sources of information or inspiration were TED Talks. This online video site features a variety of experts, authors, business leaders and others who discuss in engaging and non-complex manners […]
Alliance for Lifetime Income Launches Research Group
{February 5th, 2020} by Melanie Waddell
Industry academics Michael Finke and Wade Pfau will help the Alliance for Lifetime Income, a Walshington-based group that educates consumers about annuities, conduct retirement income research via its new Retirement Income Institute. The new Retirement Income Institute will conduct scholarly research and “develop innovative ideas to advance the Alliance’s mission of helping to increase the […]
NAIFA to Arm Members With Financial Literacy Classes
{February 5th, 2020} by Allison Bell
The National Association of Insurance and Financial Advisors has come up with a response to concerns about Americans’ financial literacy: a one-hour financial literacy course that NAIFA members can offer in their own communities. The Falls Church, Virginia-based group is introducing the financial literacy curriculum today in Tysons, Virginia, at the group’s ninth annual Success Summit […]
NAIFA Wants To Boost Nation’s Financial Literacy
{February 5th, 2020} by Susan Rupe
An industry association is taking aim at the nation’s lack of financial literacy. The National Association of Insurance and Financial Advisors is looking at the issue from two sides: lack of basic consumer financial education and a need for financial professionals to provide services. The project includes a one-hour course available for NAIFA members to […]
MassMutual and CommonBond Launch Student Debt Refinancing to 2.6 Million People Through Financial Wellness Offering
{February 5th, 2020} by MassMutual
SPRINGFIELD, Mass.–(BUSINESS WIRE)–For millions of Americans looking to tackle student debt this year, Massachusetts Mutual Life Insurance Company (MassMutual®) is offering student loan refinancing through the workplace. The refinancing program is provided through CommonBond, a leading financial technology company, and is available to 2.6 million people who have access to MassMutual’s retirement plans, voluntary benefits […]
Brighthouse Financial to Participate in the BofA Securities 2020 Insurance Conference
{February 5th, 2020} by Brighthouse Financial
February 04, 2020 04:15 PM Eastern Standard Time CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today that Eric Steigerwalt, president and CEO, Brighthouse Financial, will participate in the BofA Securities 2020 Insurance Conference at approximately 1:45 p.m. Eastern Time on Wednesday, February 12, 2020. Mr. Steigerwalt will participate in […]
Eagle Life Parent Company American Equity Ranks in J.D. Power Top 5 for Customer Satisfaction
{February 5th, 2020} by Eagle Life Insurance Company
WEST DES MOINES, Iowa–(BUSINESS WIRE)–As a subsidiary of American Equity Investment Life Insurance Company, Eagle Life Insurance Company is proud to share American Equity earned the distinction of “Better than Most” as 4th place for customer satisfaction in the J.D. Power 2019 U.S. Life Insurance Study. The carrier’s satisfaction index score outpaced the annuity industry average […]
American Equity Ranks in J.D. Power’s Top 5 for Customer Satisfaction
{February 5th, 2020} by American Equity Investment Life Insurance Company
WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Insurance Company, a leader in the sale of fixed index annuities, earned the distinction of “Better than Most” as 4th place for customer satisfaction in the J.D. Power 2019 U.S. Life Insurance Study. The carrier’s satisfaction index score outpaced the annuity industry average as well as other top […]
LPL Financial Announces Fourth Quarter and Full Year 2019 Results
{February 5th, 2020} by LPL Financial
Fourth Quarter 2019 Key Performance Indicators Earnings per share (“EPS”) increased 13% year-over-year to $1.53. Net Income increased 5% year-over-year to $127 million. EPS Prior to Amortization of Intangible Assets** increased 13% year-over-year to $1.68. Total Brokerage and Advisory Assets increased 22% year-over-year to $764 billion. Total organic net new assets were an […]
Prudential Financial, Inc. Announces 2019 Results
{February 5th, 2020} by Prudential Financial, Inc.
NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE:PRU) today reported fourth quarter and year-end 2019 results. For the fourth quarter of 2019, net income attributable to Prudential Financial, Inc. was $1.128 billion ($2.76 per Common share), compared to $842 million ($1.99 per Common share) for the fourth quarter of 2018. After-tax adjusted operating income was $950 million […]
Jackson Names Axel André Chief Financial Officer
{February 5th, 2020} by Jackson National Life Insurance Company
LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®) today announced that Axel André has been named Executive Vice President and Chief Financial Officer of Jackson. André most recently served as Chief Financial Officer of Individual Retirement at AIG. He will be based in the company’s Lansing, Michigan office and will assume his new role effective Feb. […]
CUNA Mutual Group names Laurie Winger chief financial officer
{February 5th, 2020} by CUNA Mutual Group
MADISON, WI (February 3, 2020) — CUNA Mutual Group Executive Vice President Laurie Winger has assumed the role of chief financial officer in combination with her existing duties as the company’s chief product officer. Her new responsibilities coincide with the year-end retirement of former CFO Thomas J. Merfeld. As chief finance and product officer, Winger now leads the […]
Principal Financial Group Poised To Pounce On SECURE Act Opening
{February 5th, 2020} by John Hilton
Coming off a very profitable fourth quarter, Principal Financial Group CEO Dan Houston sees more opportunity in the future thanks to the SECURE Act. The first direct writer of life insurance to report fourth-quarter earnings, Principal posted operating net income of $1.41 per share, which matched estimates and is up 27% year over year. The […]
MDRT Gives $50,000 to Firefighters in Australia
{February 5th, 2020} by Allison Bell
The Million Dollar Round Table and the MDRT Foundation are giving $50,000 to bushfire relief efforts in Australia. The Park Ridge, Illinois-based organizations are sending $25,000 to the Australian Red Cross, and another $25,000 to the New South Wales Rural Fire Service. Bushfires have burned about 40,000 square miles of land in Australia in the past few month, and […]
Massachusetts Dealing With Flood Of Comments On Fiduciary Proposal
{February 5th, 2020} by John Hilton
Work continues on a fiduciary rule proposed by the Massachusetts Securities Division despite a late flood of comments from around the country. The letter-writing campaign added to the rule opposition, which includes trade associations as well as Gov. Charlie Baker, R. A spokeswoman for Secretary of the Commonwealth William Galvin said a final rule could […]
Regulators Close In On IUL Illustration Compromise
{February 5th, 2020} by John Hilton
Regulators and industry representatives came closer to agreement on a middle ground to save the controversial multipliers and bonuses that many blame for rosy indexed universal life illustrations. A National Association of Insurance Commissioners’ subgroup is still working through the details, but regulators seemed receptive to industry proposals that would limit maximum illustration rates to […]
Brighthouse Adds Indexed Annuity: Annuity Product Update
{February 5th, 2020} by Allison Bell
Brighthouse Financial Inc. has added a single-premium indexed annuity aimed at the independent marketing organization market. The Charlotte, North Carolina-based insurer will be offering the new SecureAdvantage 6-Year Fixed Index Annuity annuity through IMOs affiliated with Market Synergy Group. Brighthouse has filed the contract as a non-variable contract. That means the company has agreed to protect […]
Surprise!…Every U.S. Citizen Already Owns An Annuity
{February 5th, 2020} by The Annuity Man
The word “annuity” has somehow become the curse word of the financial industry. Radio, TV, and internet ads blast the generic “I Hate Annuities” mantra to an uninformed public that doesn’t even know that they already own an annuity. If It Acts Like A Duck… As the old saying goes, “If it walks like a duck […]
LIMRA: Consumers’ Brand Awareness Of Life Insurers Remains Low
{February 4th, 2020} by INN Insider
A new LIMRA study finds 1 in 4 adult Americans cannot name a single company that sells life insurance and a majority (56%) are unable to name three life insurance companies. As discouraging as this may sound, it does reflect an uptick in unaided awareness of life insurance brands among U.S. consumers (chart), compared to […]
How to Turn Your Nest Egg Into Steady Payments
{February 4th, 2020} by Anne Tergesen
Many Americans look with longing at old-fashioned pension plans, which cover a dwindling share of the workforce. After all, aside from providing a guaranteed monthly paycheck for life, pensions spare retirees the hassle and anxiety of figuring out how to make their nest eggs last. Now the retirement paycheck is staging a comeback—inside the 401(k). […]
Judge Rules Against AIG Unit in Lawsuit Over $5.9 Million in Online Losses
{February 4th, 2020} by A.M. Best
NEW YORK – A federal judge has sided against AIG Specialty Insurance Co., a unit of American International Group Inc., ruling the carrier has to cover $5.9 million in losses incurred by a policyholder attacked by suspected Chinese fraudsters. Judge Jed S. Rakoff, of the U.S. District Court for the Southern District of New York, […]
Are You Ready for Your Clients to Live to 100?
{February 4th, 2020} by Jane Wollman Rusoff
The gee-whiz factor may have dimmed with respect to digital voice assistants, drones and even, among the jaded, flying cars. But in the next decade, stunning high-tech developments will revolutionize every major industry on the planet. So says futurist Peter Diamandis, founder of more than 20 leading-edge tech companies, in an interview with ThinkAdvisor. Prominent […]
The Biggest Estate Planning Blunders of All Time
{February 4th, 2020} by Bryan Kuderna
Estate planning is defined by Merriam-Webster as the arranging for the disposition and management of one’s estate at death through the use of wills, trusts, insurance policies, and other devices. A broader definition would include the same exercise in preparation of not only death but also one’s incapacitation. In plain English, it is instruction on […]
IRS to Send 12 Teams Out to Audit Micro Captives
{February 4th, 2020} by Allison Bell
The Internal Revenue Service says it’s forming 12 audit teams to go after what it sees as “several thousands” abusive micro-captive insurance arrangements. The new examination teams will be made up of employees from the IRS Large Business and International and Small Business/Self-employed divisions, IRS officials announced Friday. “These teams will use all available enforcement […]
Protective Life Realigns Operations
{February 4th, 2020} by Allison Bell
Protective Life Corp. is using a new corporate structure to organize its operations. The Birmingham, Alabama-based subsidiary of Dai-ichi Life Holdings Inc. of Tokyo has put its retirement operations in a new retirement division and its protection insurance operations in a new protection division. Aaron Seurkamp is the president of the retirement division. He has […]
CUNA Mutual Group Adds New Leaders to National and Regional Sales Teams
{February 4th, 2020} by CUNA Mutual Group
MADISON, Wis. ̶ CUNA Mutual Group announced recently one national promotion and two local new hires to support strategic sales initiatives for its annuities business. Gina Riepel has been promoted to Director of Strategic Accounts for CUNA Mutual Group’s Annuities division. In addition, the company has hired Darius Tandy and Dylan Tito to support annuities sales efforts in California. Tandy […]
The Hartford Announces Fourth Quarter And Full Year 2019 Financial Results; Also Provides 2020 Outlook For Selected Business Metrics And Increases Quarterly Dividend By 8%
{February 4th, 2020} by The Hartford
HARTFORD, Conn.–(BUSINESS WIRE)–The Hartford (NYSE: HIG) today announced financial results for the fourth quarter and year ended Dec. 31, 2019. “2019 was a pivotal year strategically for The Hartford as we positioned the company with enhanced capabilities to strengthen our competitive advantages in a dynamic market environment”, said The Hartford’s Chairman and CEO Christopher Swift. […]
AM Best Affirms Credit Ratings of CNO Financial Group, Inc. and Its Life/Health Subsidiaries
{February 2nd, 2020} by A.M. Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of the life/health subsidiaries of CNO Financial Group, Inc. (headquartered in Carmel, IN) [NYSE: CNO]. These subsidiaries are referred to collectively as CNO Financial Group (CNO). Concurrently, AM Best has affirmed the Long-Term […]
Cboe Announces Dynamic Lineup for 36th Annual Cboe Risk Management Conference U.S. 2020
{February 1st, 2020} by Cboe Global Markets, Inc.
CHICAGO, Jan. 31, 2020 /PRNewswire/ — Cboe Global Markets, Inc. (Cboe: CBOE), one of the world’s largest exchange holding companies, will host the 36th annual Cboe Risk Management Conference (RMCSM) U.S. at the Hyatt Regency Coconut Point Resort in Bonita Springs, Florida, on Monday, March 2, through Wednesday, March 4. Known for decades as the premier educational forum for equity derivatives, […]
As Voya Financial sells off insurance groups, attention turns to its broker-dealer
{February 1st, 2020} by Bruce Kelly
Voya Financial Inc. last month said it was selling its individual life insurance business, two years after it said it was selling its annuities businesses. Click HERE to read the full story via InvestmentNews
Banned from selling securities but still hawking insurance
{February 1st, 2020} by Bruce Kelly
The Securities and Exchange Commission earlier this week barred three salesmen who worked at firms with the homiest of monikers: Balanced Financial Inc., Live Abundant and Old Security Financial Group. Click HERE to read the full story via InvestmentNews
Elder Financial Abuse ‘A Crime Of The 21st Century’
{February 1st, 2020} by Susan Rupe
Elder financial abuse has been categorized as “a crime of the 21st century,” according to the presenter of a webinar on understanding elder financial exploitation and fraud. “I do see financial abuse of our elderly population is becoming, I’d almost say, a societal issue,” said Michele Kryger, elder and vulnerable client care officer with AIG Life […]
Advisors: Don’t Let Clients Become Complacent Over Market Volatility
{February 1st, 2020} by Susan Rupe
After a volatile year in the markets, American investors ended 2019 feeling more confident about their finances than they have in a long time. According to the latest Allianz Quarterly Market Perceptions Study from Allianz Life, in the fourth quarter of 2019, worries about an impending market crash or recession were at their lowest levels […]
Tetris, Taxes and Retirement
{February 1st, 2020} by Kerry Pechter
Taxes are often a retiree’s most vexing expense. That’s especially true for people who are debt-free. If bills are minimal and there’s no earned income, then property taxes, capital gains taxes, and taxes on superfluous IRA distributions loom larger in the retiree’s mind. Click HERE to read the full story via RIJ
District of Columbia Replaces Insurance Commissioner
{February 1st, 2020} by Allison Bell
The District of Columbia has named a new regulator to oversee insurance. D.C. Mayor Muriel Bowser has appointed Karima Woods to be the acting commissioner of the D.C. Department of Insurance, Securities and Banking. Woods succeeds Stephen Taylor. Woods has been director of business development and strategy in the D.C. Office of the Deputy Mayor […]
Industry-led ‘Retirement Income Institute’ to Launch
{February 1st, 2020} by Kerry Pechter
In the latest stage of its campaign to break through the fog of misinformation that keeps annuities obscure, the industry-led Alliance for Lifetime Income has created an academic spin-off to bring new and existing pro-annuity research to the world’s attention—in language that the world can easily understand. Click HERE to read the full story via […]
Hedging Flows Supporting Treasury Rally May Have Further to Go
{February 1st, 2020} by Stephen Spratt
The coronavirus-fueled slide in Treasury yields may have triggered a phenomenon known as convexity hedging — which also means there could be further downside. The 10-year yield had held within a range of about 1.70% to 1.95% since October, before heading lower late last week as concerns about the spread of coronavirus from China sent […]
Ameriprise CEO says firm focused on productivity as headcount slips again
{February 1st, 2020} by Tobias Salinger
Ameriprise’s financial advisor headcount is slipping, but CEO Jim Cracchiolo says he expects its force of nearly 9,900 to “pick up a bit” in 2020. He also points out that recruitment is fueling the broker-dealer’s higher revenue, earnings and client assets. “We actually feel good about the recruitment,” Cracchiolo told analysts on a Jan. 30 […]
Minneapolis-based Ameriprise completes year of progress in advice and wealth management business
{February 1st, 2020} by Patrick Kennedy
Ameriprise is adding new banking services for its clients as its traditional Advice and Wealth Management segment continues to grow, but the financial-services company saw fourth-quarter net earnings decline in part because of hedges placed on variable annuities. Accounting for a one-time charge related to the annuities and others, adjusted operating earnings per share rose […]
Policygenius Raises $100 Million
{February 1st, 2020} by Allison Bell
Policygenius Inc. — A company that sells life insurance and other products through the we— has raised about $100 million in funding from a group of investors. Kohlberg Kravis Roberts & Co. L.P. organized the round of funding. Two of the other companies on the investor list are the venture capital arms of Massachusetts Mutual Life […]
New Credit Loss Rules May Smudge Life Insurers’ Earning: Moody’s
{February 1st, 2020} by Allison Bell
New credit loss forecasting accounting rules could make life insurers’ earnings go up and down a little more, and make their earnings reports harder to compare, according to rating analysts at Moody’s Investors Service. But, overall, the Financial Accounting Standards Board’s new Current Expected Credit Losses (CECL) reporting rules should have only a minor impact, […]
Reg BI Creates ‘Fake Fiduciaries’: Jane Bryant Quinn
{February 1st, 2020} by Jane Wollman Rusoff
Regulation Best Interest is “a disaster for investors” because it “creates fake fiduciaries,” argues Jane Bryant Quinn, the veteran personal finance journalist and advocate for consumer rights. In a recent interview with ThinkAdvisor, she offered candid opinions on the Securities and Exchange Commission’s Reg BI, zero commissions, the Secure Act, certain annuities and financial advisors. […]
Build a Million-Dollar Business Helping Middle America
{February 1st, 2020} by Staff Writer
“What if you could finally figure out your client’s financial needs for their secure financial future and, in doing so, create a million-dollar business for yourself?” Speak with Jon Dault for five minutes and try not to get thrilled about working in the life insurance and annuity business. The passion the 28-year industry veteran has […]
AM Best Affirms Credit Ratings of Farmers New World Life Insurance Company
{February 1st, 2020} by A.M. Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of Farmers New World Life Insurance Company (FNWL) (Bellevue, WA). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect FNWL’s balance sheet strength, which AM Best categorizes as very strong, as well as […]
Dan Houston to Speak at BofA Securities 2020 Insurance Conference
{February 1st, 2020} by Principal Financial Group
DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) announced today Dan Houston, chairman, president & CEO, will participate in a fireside chat at the BofA Securities 2020 Insurance Conference on Thursday, February 13, 2020, at 8:35 a.m. (EST) in New York. Houston will speak to the company’s strategy to help customers worldwide achieve their financial goals, […]
MetLife Renewed as Annuity Provider for the Thrift Savings Plan
{February 1st, 2020} by MetLife
NEW YORK–(BUSINESS WIRE)–Metropolitan Life Insurance Company (“MetLife”), a leading provider of income annuities to defined contribution (DC) plans, announced that it has been selected by the Federal Retirement Thrift Investment Board to continue to serve as the exclusive annuity provider for the Thrift Savings Plan (TSP), covering more than five million federal employees. MetLife has […]
Ladenburg Shareholders Approve Merger With Advisor Group
{February 1st, 2020} by Ladenburg Thalmann Financial Services Inc.
MIAMI–(BUSINESS WIRE)–Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTS PrA, LTSL, LTSF, LTSK, LTSH) (“Ladenburg”) and Advisor Group today announced that at a special meeting of Ladenburg’s shareholders held January 30, 2020, Ladenburg’s shareholders overwhelmingly voted to approve the merger of Ladenburg and Advisor Group. The shareholder approval satisfies one of the conditions to […]
Ameriprise Financial Reports Fourth Quarter 2019 Results
{February 1st, 2020} by Ameriprise Financial, Inc.
MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP): Earnings Per Diluted Share Return on Equity, ex. AOCI Fourth Quarter 2019: Fourth Quarter 2019: GAAP $3.53 GAAP 33.1% Adjusted Operating $4.20 Adjusted Operating (1) 38.6% Adjusted operating earnings per diluted share increased 11 percent to $4.20 and adjusted operating return on equity increased […]
Pacific Life Foundation Announces $7.25 Million Giving Program for 2020
{February 1st, 2020} by Pacific Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–The Pacific Life Foundation has announced it plans to give $7.25 million in charitable funding in 2020. Supporting communities where Pacific Life employees live and work, including Orange County, California; Omaha, Nebraska; and Lynchburg, Virginia, the grants will focus on the areas of arts and culture; civic, community and economic development; environment; […]
HOW TO PROVIDE THE BEST RETIREMENT ADVICE IN 2020
{February 1st, 2020} by The American College of Financial Services
Every decade brings change, particularly on financial fronts. For those planning for or entering retirement, the thought of change may be worrisome. Yet, with a strong financial advisor at their side, clients can take advantage of many opportunities in the years ahead. What will 2020 look like for retirement planning? We can safely assume that […]
This can be done. Go do it.’: XYPN hires 2, hits 56% women on leadership
{February 1st, 2020} by Ann Marsh
Thanks to two new hires, XY Planning Network’s 17-person leadership team is now 56% women and the firm plans to further diversify its top executive ranks, full team and network of about 1,110 affiliated advisors. So how did XYPN hit this new mark and how does it plan to do more? By continuing to be […]
