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Archive for May 2020

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  • 1Q Deferred Annuity Sales Strong, Despite Late COVID-19 Impact

    {May 27th, 2020} by John Hilton

    Despite the COVID-19 market devastation, deferred annuity sales remained strong in the first quarter at $52.7 billion, a slim 1.1% decline, according to Wink’s Sales & Market Report. The pandemic effects came late in the first quarter, industry sources note, and its impacts might be seen in second quarter results. But for now, industry can […]

    15 years!

    {May 27th, 2020} by Wink's RockStars

    From Stay-At-Home Mom To Insurance Evangelist

    {May 27th, 2020} by John Hilton

    Originally published February 2020 and reprinted in celebration of Sheryl’s 15th anniversary of the founding of Wink, Inc. Sheryl Moore found herself alone at just about the worst time in life to be alone. A single, stay-at-home mom of three kids with no child support and no job, she calculated her child care costs at $455 […]

    The best life insurance companies of 2020

    {May 27th, 2020} by Liz Knueven

    Life insurance company ratings Business Insider compiled data from 30 different life insurance companies based on customer service, financial stability, and asset size rankings, along with premium prices where available.  The full methodology of this ranking is listed below, under “How we determined the winners.” Here is the full list: Click HERE to view via […]

    The pandemic has Americans preparing for the worst, just like Warren Buffett

    {May 27th, 2020} by Doug Whiteman

    There’s a reason they call Warren Buffett the Oracle of Omaha. The multibillionaire from Nebraska says he predicted what we’re currently facing. “I’ve always felt a pandemic would happen sometime,” Buffett told Yahoo Finance in a recent interview. He had warned of a coming “megacatastrophe” over a year ago, in the 2019 annual letter to […]

    Financed Life Insurance: Expanding Low-Interest Environment Possibilities

    {May 27th, 2020} by Michael Seltzer

    With external shutting down many of our daily habits and altering our professional lives, we naturally seek guidance to navigate the unknown. Information is coming in from all types of sources, and the fluctuating financial markets are a constant reminder that the only certainty is uncertainty. On the brighter side, we are finally given the […]

    SEC Takes Action to Stop Ponzi Scheme Selling ‘Annuities’

    {May 27th, 2020} by Melanie Waddell

    The Securities and Exchange Commission on Friday filed an emergency action and obtained a temporary restraining order and asset freeze against a California-registered investment advisor and his entities to halt an ongoing Ponzi scheme targeting senior citizens in Southern California. According to the SEC’s complaint, from at least January 2018 through the present, Paul Horton Smith […]

    Annual Milliman survey reveals a significant shift in sales from universal life insurance to indexed universal life insurance

    {May 27th, 2020} by Milliman, Inc

    SEATTLE, May 26, 2020 /PRNewswire/ — Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its annual comprehensive study of universal life (UL) and indexed universal life (IUL) issues. The 13th annual Milliman study, “Universal Life and Indexed Universal Life Issues,” is based on a survey of 30 UL/IUL companies. The report focuses on […]

    Americans are Feeling Anxious and Hopeful in Equal Measure during COVID-19 – and It Shows in Their Financial Confidence

    {May 27th, 2020} by New York Life

    NEW YORK–(BUSINESS WIRE)–Money is an inherently emotional topic for many Americans, a phenomenon the COVID-19 pandemic has only amplified. According to new data from New York Life, Americans are experiencing a wide range of emotions, with many experiencing negative and positive emotions in equal measure – an ambivalence that’s also reflected in perceptions of their finances. […]

    AM Best Affirms Credit Ratings of Athene Holding Ltd. and Its Subsidiaries

    {May 27th, 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 ICRs) of “a” of the members of Athene Group (Athene). Athene, which is focused on the fixed indexed and fixed annuity market segments, is the consolidation of the organization’s U.S. operating companies, along with its affiliated […]

    Fidelity National Financial And FGL Holdings Announce Receipt of Regulatory Approvals And Anticipated Closing Date For Merger

    {May 27th, 2020} by Fidelity National Financial, Inc.

    JACKSONVILLE, Fla. and GEORGE TOWN, Cayman Islands, May 26, 2020 /PRNewswire/ — Fidelity National Financial, Inc. (“FNF”) (NYSE: FNF) and FGL Holdings (“F&G”) (NYSE: FG) today announced that FNF has received all regulatory approvals and clearances necessary to close the transaction under the previously announced merger agreement pursuant to which FNF will acquire F&G. The anticipated closing date for the transaction […]

    Life Insurance & Annuity Software Market Worth Observing Growth : Microsoft, Oracle,

    {May 27th, 2020} by ReleaseWire

    Edison, NJ — (SBWIRE) — 05/26/2020 — The Latest research study released by HTF MI “Impact of COVID-19 Outbreak on Life Insurance & Annuity Software, Global Market” with 100+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint and […]

    Some Annuity Carriers Getting Ready To Return Products To Market

    {May 27th, 2020} by Susan Rupe

    Annuity carriers are always making changes to their products. But those changes came fast and furious during the month of March, as the COVID-19 pandemic sent shock waves through the financial industry. Now, two months later, some carriers are returning the products to the market, said Jamie Branyan, annuity product and operations manager with CANNEX, […]

    Franklin Templeton Disavows Racism After Twitter Outrage Over Central Park Incident

    {May 27th, 2020} by Wire Reports

    Franklin Templeton Investments fired an employee following a confrontation in New York’s Central Park that was caught on video and sparked a discussion on race. “We do not tolerate racism of any kind,” the firm said in a statement released Tuesday afternoon. Amy Cooper was the head of insurance investment solutions at Franklin Templeton. Click […]

    COVID-19 Individual Life Mortality To Be Examined In New Study

    {May 27th, 2020} by Staff Reports

    Three industry organizations are partnering on a joint mortality experience study that will compare individual life mortality involving COVID-19 now and into the near future. LIMRA, the Society of Actuaries (SOA) and TAI are currently working on an inaugural report to release later this summer. “This study will help our members understand the effect of […]

    Bill Would Require SEC to Create New Annuities Form

    {May 27th, 2020} by Melanie Waddell

    Lawmakers introduced legislation Friday that would require the SEC to devise a new and more tailored form for annuity issuers to use when filing registered index-linked annuities (RILAs). The bipartisan bill, the Registration for Index Linked Annuities (RILA) Act, S. 3795, was introduced by Sens. Tina Smith, D-Minn., and Thom Tillis, R-N.C., as well as Reps. […]

    Insurance and the New, Post-COVID-19 Normal

    {May 27th, 2020} by Guy Zinman

    Many insurance organizations worldwide have turned to artificial intelligence (AI) technology in recent months to help them address the disruptive changes in their business due to COVID-19. Their historical data and business intuition is no longer reliable nor relevant, as this New Normal has affected customer behavior and emergency responses that have dramatically shifted insurance […]

    New Guardian Term Life Policy Offers a Charitable Donation Feature

    {May 27th, 2020} by Allison Bell

    The Guardian Life Insurance Company of America has introduced a term life insurance policy with a built-in charitable benefit rider. The New York-based mutual life insurer says the new Guardian Level Term policy includes a rider that can pay 1% of the policy death benefit, up to a $100,000 limit, to the 501(c)(3) charity of […]

    Wisconsin Commissioner Moves to Put Time Insurance in Rehabilitation

    {May 27th, 2020} by Allison Bell

    Wisconsin Insurance Commissioner Mark Afable is moving to put one of the pioneers in the modern U.S. accident insurance, disability insurance and major medical insurance markets into rehabilitation. Afable is seeking permission, from a state court in Dane County, Wisconsin, to appoint Mark Femal of Strohm Ballweg as a special deputy commissioner and Time Insurance […]

    Group Life, Annuities Helped Life Insurers Beat Expectations: Morgan Stanley Analysts

    {May 27th, 2020} by Allison Bell

    COVID-19 could still flare up. But, if the pandemic continues to be more like the terrible 1968 Hong Kong flu pandemic than like the catastrophic 1918 flu pandemic, life insurance claims could have a much smaller effect on the companies’ earnings than investment market turmoil. Nigel Dally and other securities analysts at Morgan Stanley have […]

    Simplicity Acquires First Income Advisors

    {May 27th, 2020} by Allison Bell

    Simplicity Group Holdings, an insurance distributor, has acquired another distributor — First Income Advisors LLC. Simplicity is a Summit, New Jersey-based company that has been an active buyer of life insurance, annuity and investment product distribution businesses. In April, it acquired Fidelity Financial Group of Houston. First Income Advisors is an 8-year-old independent marketing organization (IMO) […]

    Kathleen Birrane Takes Over as Maryland Commissioner: Personnel Matters

    {May 27th, 2020} by Allison Bell

    Maryland Gov. Larry Hogan has appointed Kathleen Birrane to be the commissioner in charge of the Maryland Insurance Administration. Birrane previously was a partner in the insurance sector and litigation and regulatory practice group at DLA Piper LLC. Birrane succeeds Al Redmer Jr., who is now executive director of the Maryland Automobile Insurance Fund. Birrane […]

    How a Life Insurer Honored Its Dead in 1920

    {May 27th, 2020} by Allison Bell

    Americans will spend Monday honoring the memory of members of the armed services who have died in the service of their country. The country will also honor the memory of civilian first respondents who have died, and of health care workers, grocery store employees, warehouse employees and other essential workers who have contracted severe acute […]

    Haven Life Hopes to Add No-Exam Term Life to Other Companies’ Shelves

    {May 27th, 2020} by Allison Bell

    Haven Life Insurance Agency LLC is offering life insurance brokers, banks, credit unions, financial advisors and others a tool for the age of social distancing: a widget-based program for selling term life insurance with no medical exams Resources A link to the website for Haven Life’s API program is available here. An article about Haven Life’s […]

    Variable Annuity Sales Climb 19%: Wink

    {May 27th, 2020} by Allison Bell

    U.S. sales of individual deferred annuities fell to $53 billion, down 4% from the total for the first quarter of 2019, according to new issuer survey data from Wink Inc. Sheryl Moore, president of Wink, said in a comment included in an announcement of the results that she thinks they look surprisingly good. “It is […]

    AIG Adds Legg Mason Dividend Index: Annuity Matters

    {May 27th, 2020} by Allison Bell

    AIG Life & Retirement — an arm of American International Group Inc. — has started using the Legg Mason Quality Dividend Index . The index, which is designed for use with AIG index annuities, reflects the performance of high-quality companies that have a strong record of paying dividends on common stock. AIG will start by using the index […]

    Wink, Inc. Releases 1st Quarter, 2020 Deferred Annuity Sales Results

    {May 27th, 2020} by Press Release

    — FOR IMMEDIATE DISTRIBUTION —   NEWS RELEASE   DEFERRED ANNUITY SALES BARELY DECLINE DESPITE EFFECTS OF COVID-19 Wink, Inc. Releases 1st Quarter, 2020 Deferred Annuity Sales Results Des Moines, Iowa. May 21, 2020– Wink’s Sales & Market Report is the insurance industry’s #1 resource for annuity sales data since 1997. Sixty-one indexed annuity providers, […]

    How Will Your Own Business Look Different?

    {May 27th, 2020} by Chuck K. Hirsch

    The national discussion right now is focused on when and how to reopen our economy. There is an ongoing and energetic push and pull between individuals who believe we need to get back to work as soon as possible, and those who believe we need a slow approach, and all those spanning the spectrum that […]

    TIAA Says Negative Yields Could Soon be a Possibility in Money-Market Products. Why That’s a ‘Horrible Deal’ for Investors.

    {May 27th, 2020} by Alexandra Scaggs

    Negative yields could be a possibility for U.S. investors sooner than expected—at least, for investors in a couple of money-market products managed by TIAA. In a notice to investors this week, TIAA said it plans to temporarily waive fees on the CREF Money Market Account and waive fees over the longer term on the TIAA-CREF […]

    They call her “ROCKSTAR”

    {May 27th, 2020} by Wink

    Sheryl J. Moore, Chief Storyteller, the ORIGINAL member of Wink’s analysis team has been at this for a long time. She’s obsessive-compulsive to a fault and never happy if she’s not twirling 20 plates at once. Want to know MORE about Ms. Moore? She is the founder, creator, and President & CEO of Wink, Inc. […]

    Demand for some annuities rising in COVID-19 market

    {May 23rd, 2020} by Emile Hallez

    The COVID-19 crisis is funneling sales to buffered annuities, according to projections from Limra’s Secure Retirement Institute. Click HERE to read the full story via InvestmentNews     Wink’s Note: Wink classifies these as structured annuities. See 1st Quarter, 2020 structured annuity sales according to Wink’s Sales & Market Report here

    FIRST QUARTER 2020 ANNUITY SALES

    {May 22nd, 2020} by Sheryl J. Moore

    Deferred Annuity Sales Total 1Q2020 deferred annuity sales were $52,704,571,827. First quarter deferred annuity sales were down more than 1% when compared to the previous quarter. Non-Variable Deferred Annuity Sales Sales for the first quarter of 2020 were $27,085,683,343. First quarter non-variable deferred annuity sales were flat when compared to the previous quarter, and were […]

    Variable annuities: Stock investment with protection

    {May 22nd, 2020} by Keith Singer and Roy Rosner

    Variable annuities are a frequently used, and sometimes abused method making a long-term tax deferred investment in the stock market which will also have principal protection in case of the death of the annuitant. They are usually enhanced with optional features which provide lifetime income based upon a stated growth rate which is not dependent […]

    Insuring Retirement in the Midst of Uncertainty

    {May 22nd, 2020} by Statesman

    (BPT) – One of the longest economic expansions in American history may have come to an end in the face of a global pandemic. The economy today brings to mind for many the lessons of 2008-2009, during the Great Recession when millions of Americans on the doorstep of retirement watched helplessly as a lifetime of […]

    Lessons from COVID-19: How a science- and partnership-driven approach to risk can win the battle

    {May 21st, 2020} by Christian Mumenthaler

    f we liken the COVID-19 crisis to fighting a war, then we’re confronting an invisible enemy that multiplies exponentially on the battlefield. All of our lives have been changed in the last weeks and some of us have even lost family members, friends or colleagues. Some people have called this event a “black swan” – […]

    Annuities Offer Retirees Peace of Mind in Choppy Markets. But They Come at a Cost

    {May 21st, 2020} by Ingrid Case

    When the markets take a stomach-tightening dive, many investors head for the perceived safety of annuities. Click HERE to read the full story via Money     Wink’s Note to the Author: They are not “registered indexed annuities.” They are “structured annuities.” Indexed annuities cannot lose money as a result of market changes; structured annuities […]

    With Economic Uncertainty, Lincoln Expands Indexed Variable Annuity Options to Deliver Added Portfolio Protection Options for Investors

    {May 20th, 2020} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–At a time when investors value protection most, Lincoln Financial Group (NYSE: LNC) expands its flagship, industry-recognized solution, Lincoln Level Advantage® indexed variable annuity, with two new options that offer investors more ways to help grow their savings with a level of protection during market downturns and uncertainty. Lincoln is introducing a new performance trigger […]

    Prudential introduces FlexGuard℠—company’s first indexed variable annuity

    {May 20th, 2020} by Prudential Financial, Inc.

    NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU), launched FlexGuard℠ today, the company’s first indexed variable annuity product, designed to provide customers with downside protection and the opportunity to grow and accelerate the performance of their retirement assets into the future. The commission-based version launches today, with a fee-based version of FlexGuard to follow later this […]

    Life Sales Look Great: ACLI President

    {May 20th, 2020} by Allison Bell

    The COVID-19 pandemic has done many cruel and terrible things, but it has increased U.S. consumers’ interest in life insurance. Susan Neely, the president of the American Council of Life Insurers (ACLI), talked about the effect of the pandemic on life insurance sales earlier this week, at a webinar organized by the National Association of […]

    COVID-19 May Give Life Insurers Q3 Low-Rate Flu: S&P Analysts

    {May 20th, 2020} by Allison Bell

    COVID-19 now seems more likely to hurt U.S. life insurers by depressing interest rates than by causing a catastrophic increase in life insurance claims. Analysts from S&P Global Ratings gave that assessment Tuesday, at a webinar the rating agency organized to review the effects of the pandemic on insurers’ earnings and capital levels. The analysts […]

    Many Life Insurers Are Still Spending on Technology: Novarica

    {May 20th, 2020} by Allison Bell

    Most life insurers that care enough about technology to participate in Novarica surveys are maintaining or increasing their information technology budgets. Novarica — a Boston-based insurance technology research firm — has reported that finding in a summary of results from a recent survey of 135 large and midsize insurers. Novarica released a little data from the survey […]

    Income Annuity Pricing: Period-Certain Payments And Cash Refund Provisions

    {May 20th, 2020} by Wade Pfau

    Pricing for an Income Annuity with Period-Certain Payments We can also consider a few more examples to better understand how this model for annuity pricing can be applied to different annuity flavors. For instance, what happens to the price of this annuity if we guarantee that income will be provided for at least ten years, […]

    Annuity Pricing 101: Not As Hard As One Might Think

    {May 20th, 2020} by Wade Pfau

    How are income annuities priced? It is not as hard as one might think, as the basic recipe requires just three ingredients: 1.    Mortality rates (which vary by age and gender) impact how long payments will be made. Younger people will have longer projected payout periods, which means that payout rates must be lower. 2.    Interest rates […]

    Magic Johnson’s Life Insurance Company Reportedly Funding $100 Million In Small Business Loans

    {May 20th, 2020} by Lisette Voytko

    Former NBA all-star Magic Johnson told the Wall Street Journal that his life insurance company will provide $100 million in funding for small women and minority owned businesses as part of the Small Business Administration’s embattled Paycheck Protection Program. KEY FACTS The loans are being offered through a partnership of Johnson’s EquiTrust Life Insurance Co. and MBE Capital […]

    6 Reasons the Average Person Always Needs Insurance

    {May 20th, 2020} by Bryce Sanders

    “It’s always something.” Before the pandemic, the stock market looked more exciting than insurance products. During the pandemic you focused on handholding. After the pandemic, people might worry about getting their jobs back or cash flow. It’s not hard to make the case why anytime is a good time to buy insurance. 1. Protection The […]

    Rift Splits Over ACLI’s AG 49 Proposal

    {May 20th, 2020} by John Hilton

    UPDATE: At 1 p.m. today, LATF announced a public comment period on the Independent Proposal. Comments will be accepted until May 27 and can be sent to Reggie Mazyck at RMazyck@naic.org. **** A wide rift opened Thursday among industry and consumer factions over changes to indexed universal life illustration rules, with anti-trust charges lobbed at the American […]

    SECURE Act creates wrinkle for annuities in inherited IRAs

    {May 20th, 2020} by Jamie Hopkins

    The coronavirus pandemic has upended daily life across the country, and Americans remain focused on safety for themselves, their families and their retirement plans. Click HERE to read the full story via InvestmentNews

    Valmark Financial Group Launches Life Insurance Fulfillment Tool™ (LIFT™)

    {May 20th, 2020} by Valmark Financial Group

    AKRON, Ohio, May 14, 2020 /PRNewswire/ — Valmark continues its rich history of innovation in the life insurance industry by expanding its toolkit for independent insurance and financial professionals. Its newest offering, the Life Insurance Fulfillment Tool™ (LIFT™), is focused on making the process of buying life insurance simpler for both clients and advisors.  The global health pandemic and economic […]

    Massachussetts Securities Division Issues Fiduciary Conduct Rule FAQ’s

    {May 20th, 2020} by Potomac Law Group PLLC

    The Massachusetts Securities Division has released responses to fifteen questions concerning the fiduciary conduct regulation for broker-dealers and their agents it issued in February. 950 Code of Massachusetts Regulations § 12.207. While some of the responses essentially repeat what is in the regulation or the accompanying Adopting Release, some are notable for the clarification, or […]

    TIAA CEO Roger Ferguson gets ideas from ‘inside out’ and ‘outside in’

    {May 20th, 2020} by Zach Church

    Roger Ferguson categorizes ideas as starting either “outside in” or “inside out.” The former is developed by examining the outside world and working with clients and external partners. The latter is well-earned, derived from the experience and expertise of the 102-year-old organization he helms. Both are necessary and are best when they work together. As […]

    BRIEF-AIG CEO Says Co Will Emerge Stronger From Pandemic

    {May 20th, 2020} by Brief

    May 5 (Reuters) – American International Group Inc: * AIG (AIG.N> COO SAYS BUSINESS INTERRUPTION POLICIES THAT COVER VIRUSES COMPRISE WELL LESS THAN 1% OF OVERALL PROPERTY EXPOSURE – CONF CALL * AIG CONFIDENT THAT BUSINESS INTERRUPTION POLICY EXCLUSIONS FOR CORONAVIRUS WILL BE UPHELD-COO * CEO BRIAN DUPERREAULT SAYS INSURER EXPECTS TO SEE CONTINUED IMPROVEMENT […]

    Prudential Introduces Its First Indexed Variable Annuity: Annuity Matters

    {May 20th, 2020} by Allison Bell

    Prudential Financial Inc. has introduced its first indexed variable annuity contract, or “registered index-linked annuity” (RILA). A RILA often gives purchasers more ability to benefit from investment market gains than a typical, non-variable indexed annuity does. A RILA also offers only a limited amount of protection against investment-market-related losses. The protection limit exposes purchasers to […]

    John Hancock Introduces New Retirement Planner Tool

    {May 20th, 2020} by John Hancock

    TSX/NYSE/PSE: MFC SEHK: 945 BOSTON, May 18, 2020 /PRNewswire/ – As part of its enhancements to the online and digital experience for participants, John Hancock Retirement has recently introduced a new digital tool for individuals in its retirement plans to help them easily project their own retirement readiness and model the impact of taking different steps to improve […]

    Avantax Wealth Management Welcomes the Rozovics Group, LLP

    {May 20th, 2020} by Avantax Wealth Management

    RVING, Texas, May 19, 2020 /PRNewswire/ — Avantax Wealth Management℠ welcomes the Rozovics Group, LLP, a family-owned firm in Park Ridge, Illinois, about 15 miles northwest of downtown Chicago. The company has a strong commitment to anticipating client needs and plans for their future through a holistic, one-firm approach to tax, accounting and financial advisory services. Founded in 1977 to […]

    John Hancock Wins Eleven 2020 Stevie® Awards American Business Awards®

    {May 20th, 2020} by John Hancock

    Honored with Five Gold Stevie® Awards for Company of the Year, Innovation of the Year, Employee Engagement Event, Achievement in Management, and Consumer Services TSX/NYSE/PSE: MFC    SEHK: 945  BOSTON, May 19, 2020 /PRNewswire/ – John Hancock was honored with eleven Stevie® Awards in the 18th American Business Awards®, including five Gold, four Silver and two Bronze. The winners will be presented their awards […]

    Integrity Marketing Group Continues Industry-Leading Growth with the Addition of Equis Financial

    {May 20th, 2020} by Integrity Marketing Group, LLC

    DALLAS, May 19, 2020 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), the nation’s largest independent distributor of life and health insurance products, today announced it has acquired Equis Financial, Inc. (“Equis”), headquartered in Asheville, North Carolina. As part of the transaction, Equis partners Barry Clarkson, Rob Jones and Bill Martin, as well as all Equis employees, will become owners in Integrity. Financial […]

    Pinnacle Financial Services Joins Forces with AmeriLife® To Serve Booming Medicare Market

    {May 20th, 2020} by AmeriLife

    CLEARWATER, Fla., May 19, 2020 /PRNewswire/ — AmeriLife Group, LLC (AmeriLife), the national leader in marketing and distributing life, health and retirement solutions, has acquired an interest in Pinnacle Financial Services (Pinnacle), one of the largest full-service health, life, annuity and long-term care national marketing organizations providing financial products and services for individuals, businesses and their employees. […]

    iPipeline Reports Increasing Use of e-App and e-Delivery by US Life Insurers

    {May 20th, 2020} by iPipeline

    EXTON, Pa.–(BUSINESS WIRE)–iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today announced the use of its SSG Digital® platform with electronic application and e-Delivery is trending upwards. iPipeline cites increases for the year-over-year period ranging from April 2019 to April 2020 of 20% for e-Application […]

    TIAA Ranks 9th on DiversityInc’s 2020 Top 50 Companies List

    {May 20th, 2020} by TIAA

    NEW YORK–(BUSINESS WIRE)–TIAA was named #9 on the 2020 DiversityInc Top 50 Companies for Diversity list, climbing six places from its #15 rank in 2019. TIAA also entered the top 10 companies for the first time after appearing on the list for the eighth consecutive year. This honor recognizes TIAA’s commitment to building a workplace […]

    FBL Financial Group Reports First Quarter 2020 Results

    {May 20th, 2020} by FBL Financial Group, Inc.

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–FBL Financial Group, Inc. (NYSE: FFG) today reported a net loss attributable to FBL Financial Group for the first quarter of 2020 of $2.5 million, or $0.10 per diluted common share, compared to net income of $34.0 million, or $1.37 per diluted common share, for the first quarter of 2019. Adjusted operating […]

    Horace Mann Reports First-Quarter 2020 Net Income of $0.44 Per Share and Core Earnings* of $0.78 Per Share

    {May 20th, 2020} by Horace Mann Educators Corporation

    SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) today reported financial results for the quarter ended March 31, 2020: “As we look forward, we are reiterating full-year core EPS guidance of $2.55 to $2.75, using scenario analyses that we believe to be conservative and that reflect the varying effects we see in our different business segments. […]

    Equitable Holdings Reports First Quarter 2020 Results

    {May 20th, 2020} by Equitable Holdings, Inc

    NEW YORK–(BUSINESS WIRE)–Equitable Holdings, Inc. (“Equitable Holdings”, “Holdings”, or the “Company”) (NYSE: EQH) today announced financial results for the first quarter ended March 31, 2020. “During these challenging and volatile times, Equitable has a special role to play. I’m proud of the commitment and ingenuity of our people in supporting our communities and continuing to […]

    Athene Holding Ltd. Reports First Quarter 2020 Results

    {May 20th, 2020} by Athene Holding, Ltd.

    PEMBROKE, Bermuda–(BUSINESS WIRE)–Athene Holding Ltd. (“Athene”) (NYSE: ATH), a leading provider of retirement savings products, announced financial results for the first quarter 2020. “In these unprecedented times, Athene’s core earnings power remains intact and continues to grow and generate attractive levels of profitability. Our actions over the past year have allowed us to operate from […]

    Brighthouse Financial Announces First Quarter 2020 Results

    {May 20th, 2020} by Brighthouse Financial, Inc.

    CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today its financial results for the first quarter ended March 31, 2020. First Quarter 2020 Results The company reported net income available to shareholders of $4,950 million in the first quarter of 2020, or $47.11 per diluted share, compared with a net […]

    American Financial Group, Inc. Announces First Quarter Results

    {May 20th, 2020} by American Financial Group

    CINCINNATI–(BUSINESS WIRE)–American Financial Group, Inc. (NYSE: AFG) today reported a 2020 first quarter net loss attributable to shareholders of $301 million ($3.34 per share loss) compared to earnings of $329 million ($3.63 per share) for the 2019 first quarter. Net earnings for the 2020 first quarter were adversely impacted by after-tax non-core items aggregating $472 […]

    LPL reaches record 16,700 advisors despite coronavirus

    {May 20th, 2020} by Tobias Salinger

    Despite the coronavirus pandemic, LPL Financial is ramping up recruiting and says it sees ample opportunities to buy smaller firms. In a first quarter earnings call, CEO Dan Arnold told analysts he expects the COVID-19 crisis to present more opportunities for acquisitions — like the one LPL announced earlier in the week — as well as more […]

    Barclays CEO says ‘putting 7,000 people in a building may be thing of the past’

    {May 20th, 2020} by Contributor

    The coronavirus pandemic could permanently change how many bankers make the daily trudge into tightly packed city centre offices, Barclays CEO Jes Staley said on Wednesday.  The bank, which like companies worldwide has seen the majority of its staff work from home or backup sites, will not revert fully to its pre-January working habits, Staley said.  […]

    Coronavirus lockdown: Raymond James won’t rush advisors back to the office

    {May 20th, 2020} by Andrew Welsch

    Even as some states lift lockdown restrictions enacted to stem the tide of coronavirus contamination, the 8,000-plus advisors at Raymond James should not expect a swift return to their branches. “We will be slow and deliberate about bringing associates back to the office,” CEO Paul Reilly said during an earnings call April 30. Reilly’s cautious […]

    Voices When should advisors attend conferences again?

    {May 20th, 2020} by Carolyn McClanahan

    One joy of financial planning is our sense of community. There are thousands of planners who volunteer for professional organizations, attend conferences to learn from each other and participate in study groups to elevate their practice. This networking has been waylaid by our new coronavirus “normal”. Conferences are cancelled and in-person events are shuttered for […]

    Ameriprise Expects Hiring Slowdown, Phased Re-entry to Offices

    {May 20th, 2020} by Mrinalini Krishna

    Ameriprise Financial CEO Jim Cracchiolo says the firm may see a near-term slowdown in advisor recruitment even as it has moved to virtual hiring and its long-term prospects remain robust. “The Covid-19 crisis has created challenges but also opportunities. We moved to virtual recruiting and have been able to recruit and onboard advisors successfully,” Cracchiolo […]

    Stressed Advisors Get Reg BI Resources But No Reprieve

    {May 20th, 2020} by Rich Blake

    The stunning statement by Securities and Exchange Commission (SEC) Chairman Jay Clayton came on April 2, at the height of the pandemic emergency: there would be no extension of the June 30 deadline for complying with Regulation Best Interest. If the announcement had come one day earlier it might have been discarded as a cruel […]

    Annuities Have the Wind at Their Back

    {May 20th, 2020} by Bill Broich

    Just like Sebastian Junger’s excellent book, “The Perfect Storm,” the annuity industry has a major hurricane coming, blowing from its back. The storm was devastating for the crew of the Andrea Gail, but good for the success of Junger’s book. The COVID-19 pandemic is tragic for the people who get the virus, and for the […]

    Andrew McMahon to Lead Guardian: Personnel Matters

    {May 20th, 2020} by Allison Bell

    The Guardian Life Insurance Company of America has announced that Andrew McMahon will be succeeding Deanna Mulligan as the chief executive officer at the end of the year. Mulligan is retiring after spending a decade in her current role, the company said. Mulligan began working for Guardian in 2008, as the head of the individual […]

    Aegon provides first quarter 2020 update

    {May 20th, 2020} by Aegon

    THE HAGUE, Netherlands–(BUSINESS WIRE)–Net income of EUR 1,270 million, reflecting fair value gains ● Underlying earnings before tax were EUR 366 million reflecting adverse mortality and impacts from lower interest rates in the Americas, and limited COVID-19 related non-life claims in the Netherlands ● Net income of EUR 1,270 million reflects fair value gains of […]

    MassMutual won’t reopen offices until September, at the earliest

    {May 19th, 2020} by Greg Ryan

    The company made the decision about its Boston and Springfield locations ahead of anticipated guidance from the Baker administration about reopening the Massachusetts economy. Click HERE to read the full story via Boston Business Journal.

    Advisors find new routines, and coworkers, during coronavirus

    {May 19th, 2020} by Andrew Welsch

    Charles Day has never been closer to his clients — or farther apart. Holed up in his Long Island home, the UBS financial advisor has been fielding a slew of client calls since the coronavirus outbreak started. “I’m talking to them twice as much and for twice as long. But because it’s all on the […]

    Vote: When Do You Want to Return to Your Office

    {May 19th, 2020} by N/A

    May 19, 2020 U.S. states are in different stages of reopening their local economies. Meanwhile, companies such as Facebook and Google have said that most of their employees will likely be working from home until the end of 2020. When do you want to return to your office, regardless of the guidance from your state or company? Click HERE to view […]

    Trending News: New Trends: Covid-19 impact on Universal Life Insurance Market Analysis, Growth, Trends and Forecast to 2025 | Allianz, AXA, Generali

    {May 18th, 2020} by Report Hive Research

    Universal Life Insurance Market 2020: Latest Analysis  Chicago, United States –The Universal Life Insurance market report [5 Years Forecast 2020-2025] focuses on the COVID19 Outbreak Impact analysis of key points influencing the growth of the market. Providing info like market competitive situation, product scope, market overview, opportunities, driving force and market risks. Profile the Top Key Players of Universal […]

    John McCarthy, former Canisius basketball star and NBA champion, dies at 86

    {May 16th, 2020} by Buffalo News (NY)

    May 13–Mike Walton bought his first insurance policy from John McCarthy in the late 1970s. He wasn’t just doing it because McCarthy was his former coach and a basketball legend from South Buffalo. Walton bought the policy because McCarthy insisted that Walton plan ahead for life and for his family. There was more to life than basketball, McCarthy knew. […]

    With BluePrint Income, AARP Ups its Ante on Annuity Sales

    {May 16th, 2020} by Kerry Pechter

    AARP’s 38 million members can now buy income annuities and fixed-rate annuities on a platform powered by fintech firm Blueprint Income. Buyers get a complimentary annual ‘retirement income check-up’ from a salaried, insurance-licensed adviser. Photo: Adam Colombo, Matt Carey and Nimish Shukla of Blueprint Income. AARP members get a lot of discounts for their $16-a-year […]

    American Equity To Revamp Annuity Lineup; Sales Down In 1Q

    {May 15th, 2020} by John Hilton

    American Equity is making big changes to its annuity portfolio in response to new economic realities, executives said today. A leading provider of fixed indexed annuities, American Equity struggled through a tough start to the year, CEO Anant Bhalla said during today’s first quarter earnings call. “Entering the quarter, we were not the most competitive […]

    National Western Life Group, Inc. Announces 2020 First Quarter Earnings

    {May 14th, 2020} by National Western Life Group, Inc.

    AUSTIN, Texas, May 11, 2020 /PRNewswire/ — Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today a first quarter 2020 consolidated net loss of $2.1 million, or $0.58 per diluted Class A common share, compared with consolidated net earnings of $40.2 million, or $11.37 per diluted Class A common share, for the […]

    Understanding Rule of 72 and how Indexed annuities help you to grow your wealth

    {May 14th, 2020} by Howard S. Blanck

    In this follow-up from last month’s look at indexed annuities and life insurance, we will take a closer look at these annuities and a financial concept not usually taught or widely understood. Before we get into some of the basics of these great investments, the financial concept which has created vast amounts of wealth should […]

    Iowa The First State To Adopt Best-Interest Annuity Sales Rules

    {May 13th, 2020} by John Hilton

    The Iowa Insurance Division adopted a best interest rule applying a new standard to the sale of annuities and other insurance products. The new rule is based on a best-interest model rule adopted by the National Association of Insurance Commissioners. It also follows requests to delay the adoption of the best interest standard on securities. Click HERE […]

    Iowa Adopts Best-Interest Standard for Annuity Sales

    {May 13th, 2020} by Melanie Waddell

    The Iowa Insurance Division adopted Monday its best-interest standard requiring financial professionals to act in the best interest of clients when selling annuities and will repropose its rule for securities later this summer. The plan, released by the Iowa Insurance Division, is based on the model regulation approved by the National Association of Insurance Commissioners […]

    Brighthouse Boasts Strong Sales In Life, Annuity Segments

    {May 13th, 2020} by John Hilton

    Brighthouse Financial executives hailed a successful first quarter Tuesday driven by a 15% increase in annuity sales year over year. Annuity sales climbed to the $2 billion mark, up from $1.7 billion in the year-ago quarter. In fact, both annuity and life insurance sales were above expectations, said Eric Steigerwalt, president and chief executive officer. […]

    Great American Life Offers Enhanced Index Frontier Annuities in Wake of Unprecedented Market Volatility

    {May 13th, 2020} by Great American Life

    CINCINNATI–(BUSINESS WIRE)–Great American Life® enhanced its Index Frontier® registered index-linked annuities with the addition of three new indexed strategies that provide varying levels of protection against loss: S&P® 500 10% Buffer Indexed Strategy iShares MSCI EAFE Conserve Indexed Strategy with 0% Floor iShares MSCI EAFE Growth Indexed Strategy with -10% Floor The Index Frontier annuities give consumers the […]

    AIG Life & Retirement Expands Distribution Network with Annexus to Bring Consumers an Innovative New Index Annuity Solution

    {May 13th, 2020} by AIG Life & Retirement

    NEW YORK–(BUSINESS WIRE)–AIG Life & Retirement, a division of American International Group, Inc. (NYSE: AIG) and a leading provider of annuities, today announced a new relationship with Annexus, an innovator in delivering retirement solutions to the marketplace. The relationship is part of AIG’s continuing strategy to expand its distribution network and further diversify a broad […]

    Equitable Announces New Enhancements to Flagship Buffered Annuity

    {May 13th, 2020} by Equitable

    NEW YORK–(BUSINESS WIRE)–Equitable, a leading financial services company and subsidiary of Equitable Holdings (NYSE:EQH), today announced enhancements to its Structured Capital Strategies® PLUS registered index-linked annuity that offers clients some upside potential even when the S&P 500 benchmark index goes down. The new feature, Dual Direction, is available within SCS PLUS annuities with the S&P […]

    AM Best, Fitch Ratings Affirm Northwestern Mutual’s Highest Possible Financial Strength Rating

    {May 13th, 2020} by Northwestern Mutual

    MILWAUKEE, May 7, 2020 /PRNewswire/ — Northwestern Mutual has once again received the highest possible financial strength ratings with a stable outlook from global rating agencies AM Best (A++) and Fitch Ratings (AAA).   “Our unsurpassed financial strength gives our clients confidence that their company is well positioned to meet all of its commitments and continue to […]

    The Guardian Life Insurance Company of America Announces Leadership Transition Plan

    {May 13th, 2020} by The Guardian Life Insurance Company of America

    NEW YORK, May 8, 2020 /PRNewswire/ — The Guardian Life Insurance Company of America (Guardian Life) announced today that Deanna M. Mulligan will retire as Chief Executive Officer at year-end after a decade in the role, and will be succeeded by the company’s President, Andrew J. McMahon.  The transition, approved by Guardian’s Board of Directors, is consistent with the leadership succession […]

    Fidelity National Financial And FGL Holdings Announce Anticipated Deadline For Election Of Merger Consideration

    {May 13th, 2020} by Fidelity National Financial, Inc.; FGL Holdings

    JACKSONVILLE, Fla. and GEORGE TOWN, Cayman Islands, May 7, 2020 /PRNewswire/ — Fidelity National Financial, Inc. (“FNF“) (NYSE: FNF) and FGL Holdings (“F&G“) (NYSE: FG) today announced that the anticipated deadline for F&G shareholders to elect the form of merger consideration they wish to receive pursuant to the previously announced merger agreement pursuant to which FNF will acquire F&G, is 5:00 p.m. […]

    Income Annuities: The Guaranteed Stream Of Income In Retirement

    {May 13th, 2020} by Wade Pfau

    For those seeking to spend more in retirement than the bond yield curve can support, the alternative to seeking risk premium through an aggressive asset allocation is to pool risk through insurance. Income annuities are the simplest type of insurance products which trade a lump-sum payment for protected lifetime income. The ability to convert a […]

    AIG Sees Mortality Reporting Delays

    {May 13th, 2020} by Allison Bell

    Executives at American International  Inc. say COVID-19 might be affecting the flow of information the company needs to pay life insurance claims. Kevin Hogan, chief executive officer of AIG’s life insurance and retirement unit, talked about that concern Tuesday, in a conference call the company held to go over first-quarter earnings with securities analysts. Early […]

    Rep. Phil Roe Says DOL Should Hold Off on Fiduciary Rule Reboot

    {May 13th, 2020} by Melanie Waddell

    Rep. Phil Roe, R-Tenn., said Wednesday that the Labor Department should hold off releasing a fiduciary rule that aligns with the Securities and Exchange Commission’s Regulation Best Interest. “I think I would wait,” Roe said in response to a question asked by ThinkAdvisor during a Zoom webcast meeting held by the American Council for Capital […]

    Genworth Aims to Line Up Backup Financing Options

    {May 13th, 2020} by Allison Bell

    Genworth Financial Inc. hopes to be part of China Oceanwide Holdings Group Co. Ltd. of Beijing by June 30, but it intends to shop for other sources of financing, just in case. Tom McInerney, the chief executive officer of the Richmond, Virginia-based insurer, talked about the company’s contingency planning today, during a conference call the […]

    Lincoln Shows Investors It Has Sturdy Investments: Earnings

    {May 13th, 2020} by Allison Bell

    Lincoln Financial has responded to the COVID-19 pandemic chill by making extra efforts to reassure shareholders about the quality of its own investments. The Radnor, Pennsylvania-based life insurer has provided an investment portfolio supplement along with its earnings release for the first quarter. The supplement shows, for example, that Lincoln has 96% of its $119 […]

    Kitces: Pandemic to Accelerate Shift to AUM-Based Fee Model

    {May 13th, 2020} by Jeff Berman

    The financial advisor’s compensation model has been shifting away from commissions and toward recurring fees for several years, and the COVID-19 pandemic stands to make that transition happen even faster, according to Michael Kitces, head of planning strategy at Buckingham Wealth Partners. “I certainly think this event is going to escalate the movement and the […]

    Life Claim Trickle Could Grow: Voya Executive

    {May 13th, 2020} by Allison Bell

    Voya Financial’s group life insurance business has received only a few dozen COVID-19-related death claims so far, according to Mike Smith, the company’s chief financial officer. Smith told securities analysts Wednesday that he’s not sure whether what the final claim total will really look like. Voya is a New York-based company that owns life insurance operations built […]

    Equitable Lets Cash Flow Out of Fixed-Rate Living Benefits Annuities: Earnings

    {May 13th, 2020} by Allison Bell

    Equitable Holdings Inc. is yet another life insurer talking about how it will adjust its products to help it sail into the low-interest-rate wind. The New York-based life insurer reported Thursday that it’s letting cash flow out of its fixed-rate living benefits annuity block, while attracting cash to newer, less-capital-intensive products. About $935 million in […]

    Gen Z, Millennials More Worried About Their Portfolios Than Their Health During COVID-19 Crisis: Survey

    {May 13th, 2020} by Michael S. Fischer

    Fifty-three percent of Gen Z and millennial investors in a new quarterly survey from E-Trade Financial said their top concern during the coronavirus crisis was their investment portfolios, followed by 44% who cited their health and 43% who worried about their ability to afford day-to-day living expenses. “To watch a nest egg’s value reduce drastically in almost […]

    COVID-19 Promotes Acceleration of Everything Digital: Sun Life Exec

    {May 13th, 2020} by Allison Bell

    Executives at Sun Life Financial Inc. see the COVID-19 pandemic as a major force for modernization. Dean Connor, Sun Life’s chief executive officer, talked about the effects of the pandemic on the company’s operations last week, during a conference call the Toronto-based company held to go over its first-quarter earnings with securities analysts. “When a […]

    Athene Rides the Mark-to-Market Rollercoaster: Earnings

    {May 13th, 2020} by Allison Bell

    Athene Holding Ltd. has joined the list of annuity issuers with a big gap between adjusted operating income and net income for the first quarter. The Pembroke, Bermuda-based life insurer is reporting a $1.1 billion net loss for the quarter on negative $1.5 billion in revenue, compared with $708 million in net income on $5 billion […]

    FINRA Announces Delay in Online Test-Taking Registration

    {May 13th, 2020} by Melanie Waddell

    The Financial Industry Regulatory Authority has decided to further delay scheduling for online test-taking for exams that were slated to begin on May 24. FINRA and the North American Securities Administrators Association had said broker-dealers and their registered reps could start scheduling their online test-taking appointment for exams today. The online testing is to be administered […]

    Protective Life Announces Leadership Changes and Promotions

    {May 13th, 2020} by Protective Life

    BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (Protective), a wholly owned subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), today announced that Carl Thigpen, Executive Vice President and Chief Investment Officer (CIO), will retire from the company after 36 years of noteworthy contributions, effective June 12, 2020. Phil Passafiume, who joined Protective in 2003 and currently serves as Senior […]

    Ken Dychtwald: Pandemic Will Force Big Changes in Retirement Planning

    {May 13th, 2020} by Jane Wollman Rusoff

    The coronavirus pandemic is a shocking “intervention” whose biggest impact will show up in retirement planning: The crisis has forced older people to consider the importance of matching health span to life span and think about aspiring to a more streamlined lifestyle, argues Ken Dychtwald, founder and CEO of Age Wave. The “Pitchman for the […]

    Selling Annuities Through Exchange Is Just the Start: Envestnet CEO

    {May 13th, 2020} by Allison Bell

    Envestnet Inc. is optimistic about the insurance exchange the company helped start back in June, Bill Crager told securities analysts last week. The Chicago-based financial technology company said nothing about the Envestnet Insurance Exchange program in its earnings release for the first quarter. Crager, Envestnet’s chief executive officer, suggested, during a conference call the company held to […]

    DPL Teams With Transamerica; Adds Low-cost Variable Annuity With Several Living Benefit Options

    {May 13th, 2020} by DPL Financial Partners

    LOUISVILLE, Ky.–(BUSINESS WIRE)–DPL Financial Partners (“DPL”), the leading insurance network for registered investment advisors (“RIAs”), today announced an agreement with Transamerica to offer the insurer’s I-Share variable annuity to DPL’s 800 RIA member firms. The annuity features subaccount options from leading investment managers in equity, fixed-income and alternatives, along with several living benefits expected to […]

    The Evolution of Traditional Field Marketing Organizations

    {May 13th, 2020} by Sherri Du Mond

    Field marketing organizations (FMOs), also known as independent marketing organizations (IMOs), have always played an essential role with independent financial professionals by helping them build and grow their practices, acting as the expert intermediary between financial professionals and carriers. Traditionally, FMOs have been seen as a place for independent financial professionals to sell fixed and […]

    Derivatives Buoy Brighthouse Net Income: Earnings

    {May 13th, 2020} by Allison Bell

    For Brighthouse Financial Inc., marking the value of derivatives to market produced good results for the first quarter. The Charlotte, North Carolina-based life insurer is reporting $5 billion in net income for the first quarter on $9 billion in revenue, up from a $737 million net loss on $691 million in revenue for the first quarter […]

    Equitable Adds a Loss Reverser Annuity Feature: Annuity Market Update

    {May 13th, 2020} by Allison Bell

    Equitable has added a variable indexed annuity feature that may help the purchaser convert a stock market drop into a crediting rate gain. Equitable is offering the new Dual Direction feature along with the Structured Capital Strategies Plus buffered annuities. An annuity owner can use the feature together with a crediting rate option linked to the […]

    5 Questions About Annuity Issuers’ New Friend

    {May 13th, 2020} by Allison Bell

    The Federal Reserve Bank of New York is starting to try to keep the U.S. corporate bond market moving, by buying high-grade corporate bonds that are already on the market when no one else will buy the bonds. The bank said Monday that it has put $37.5 billion into “special purpose vehicle,” or investment fund, […]

    Prudential Shifts Focus to Variable Life and Buffered Annuities

    {May 13th, 2020} by Allison Bell

    Prudential Financial Inc. is strong, but it’s still going to take steps to  make its U.S. life and annuity products more resistant to COVID-19 pandemic turmoil. Executives from the Newark, New Jersey-based company talked about that shift today, during a conference call the company held to go over first-quarter earnings with securities analysts. Charles Lowrey, the […]

    Why “Overfund” A Life Insurance Policy (Part Two)

    {May 13th, 2020} by Charlie Gipple

    Recap: In last month’s column I discussed the two opposite ends of the spectrum when it comes to funding a life insurance policy, specifically indexed universal life insurance. Those opposite ends are, the death benefit focused side and the cash accumulation side. I also discussed how “overfunding/max funding” works from a mechanical standpoint in reducing COI […]

    Variable annuities

    {May 13th, 2020} by Keith Singer

    One of the knocks on variable annuities has been the relatively high fees associated with them. Although in many cases they may provide attractive death benefits or guaranteed lifetime income, between rider fees, management fees and mortality and expense charges, the total cost often amounts to 3% to 4% annually. In an effort to create […]

    Money Wisdom: Why Do People Have Annuities?

    {May 13th, 2020} by Christina Alexander

    NEW HAVEN, Conn. (WTNH) —CT Style Reporter Lisa Carberg, welcomes “Money Wisdom” sponsored by Johnson Brunetti. We’re educating you about smart ways to manage your money. Joining us is Eric Hogarth, Certified Financial Planner and Johnson Brunetti Partner. Today we’re talking “Annuities” and, why people have annuities. Some annuities are expensive Many financial advisors don’t understand Annuities can protect […]

    This Or That? Comparing Payout Rates Of A Fixed Annuity Vs. Investment Portfolio Distributions

    {May 13th, 2020} by Wade Pfau

    Retirement spending goals are often expressed in terms of inflation-adjusted spending numbers. This is what the 4 percent rule-of-thumb assumes. But as we move the discussion toward annuities, many annuities will protect a fixed amount of spending without inflation adjustments. It is not appropriate to compare the payout rate for a fixed annuity payment to […]

    Helping Your Clients Meet Retirement Income Needs

    {May 13th, 2020} by Kate Stalter

    The market downturn is focusing investors’ attention on the safety of future income streams, particularly those earmarked for retirement. Click HERE to read the full story via U.S. News   Sheryl Moore, CEO of Moore Market Intelligence in Des Moines, Iowa, says many consumers are unfamiliar with annuities. “Most people have never heard of an annuity. […]

    Life Is Uncertain. Whole Life Is Guaranteed.

    {May 13th, 2020} by Luke Cosme

    Surreal. Like a movie. Like a dream. Eerie. Scary. It is a good bet that each of us has used one or all of those to describe the situation that we find ourselves in today. We have dealt with crises before, but this time not only feels different, it is different. During the financial crisis, […]

    AM Best Affirms Credit Ratings of NLV Financial Corporation and Its Insurance Subsidiaries

    {May 13th, 2020} by AM 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 National Life Insurance Company (NLIC) (Montpelier, VT) and its wholly owned subsidiary, Life Insurance Company of the Southwest (Addison, TX). Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IR) of “a-” on the […]

    Broker Words—May 2020

    {May 13th, 2020} by Stephen Howard

    I guiltily confess that my freezer has two cartons of, albeit modestly-priced, ice cream—one vanilla and one chocolate. Mainly because my wife is kind enough to periodically bake me brownies during this social distancing/safer at home situation. I’m powerless against a brownie in a bowl…a few seconds in the microwave…and then buried in vanilla. So […]

    Equisoft’s Accelerate Series connects life insurance and wealth executives with industry thought leaders to fast-forward their digital transformation in the new normal

    {May 12th, 2020} by Equisoft

    Tailored to life insurance and wealth management business and technology executives, this complimentary series of nine global webinars will offer expert knowledge and guidance on how to accelerate the digitalization process in a risk- and cost-constrained environment. PHILADELPHIA, May 7, 2020 /PRNewswire/ – Global digital solutions provider Equisoft today announced that they will host a complimentary […]

    The Future Of Insurance – Post COVID 19

    {May 12th, 2020} by Denise Garth

    April 30, 2020 — As we entered this new decade at the start of 2020, industry assessments reflected a positive outlook with increased growth potential expected, despite the low interest rate environment that historically has challenged insurers. What a difference in just a short 6 weeks on the outlook for the insurance industry as a […]

    Transamerica VA targets fee-based advisers

    {May 6th, 2020} by Emile Hallez

    Transamerica rolled out a low-cost variable annuity Monday that’s designed for fee-based advisers. Click HERE to read the full story via InvestmentNews   ………………………………………………………. The announcement from Transamerica “is intriguing,” Sheryl Moore, head of Moore Market Intelligence, said in an email. “It almost looks like they are going to have an internal sales team, within their home […]

    Annuities Should Be Part Of The Conversation

    {May 6th, 2020} by Arthur D. Kraus

    To The Editor: Your March 2020 cover story, “How Advisors Generate Income for Clients,” was very surprising and somewhat upsetting to me. I want to share my experience with you and see if there is some agreement. I came into the financial services business in June 1960 as a life and health insurance agent for […]

    Underwriting Among Early Effects Of COVID-19 On Life Insurance

    {May 6th, 2020} by Susan Rupe

    COVID-19 has had the biggest short-term effect on life insurance in two ways: Insurers extending grace periods for paying premiums. Placing a greater emphasis on accelerated underwriting. Those were among the insights from Nancy Bennett, senior life fellow with the American Academy of Actuaries. Bennett was among the presenters at a recent webinar describing how COVID-19 will […]

    NAIC Expected To Defer Mortality Data Collection To 2021

    {May 6th, 2020} by John Hilton

    The National Association of Insurance Commissioners is expected to delay collection of key insurer mortality data until 2021. Due to the ongoing COVID-19 pandemic disruption, submitting the mortality data is not feasible this year, the association announced Wednesday. The data “remains a high priority regulatory issue for the NAIC, and the proposed one-year delay in […]

    State Regulators Back At Work Reforming IUL Illustration Rules

    {May 6th, 2020} by John Hilton

    State insurance regulators might be preoccupied with the COVID-19 pandemic, but efforts to tighten up regulation of indexed universal life illustrations is ongoing. A comment period closed Thursday on draft changes to Actuarial Guideline 49 proposed by the American Council for Life Insurers. The Life Actuarial Task Force is scheduled to discuss the draft and […]

    Kansas City Life Announces First Quarter 2020 Results

    {May 6th, 2020} by Kansas City Life Insurance Company

    KANSAS CITY, Mo., May 4, 2020 /PRNewswire/ — Kansas City Life Insurance Company recorded net income of $0.2 million or $0.02 per share in the first quarter of 2020, a decrease of $3.9 million or $0.40 per share relative to the first quarter of 2019.  The decline in net income in 2020 was primarily due to the COVID-19 pandemic that has dramatically impacted both financial […]

    Nationwide announces permanent shift in workplace, work-from-home strategy

    {May 6th, 2020} by Nationwide

    COLUMBUS, Ohio, April 29, 2020 /PRNewswire/ — Nationwide announced today a plan to permanently transition to a hybrid operating model that comprises primarily working-from-office in four main corporate campuses and working-from-home in most other locations. “We’ve been investing in our technological capabilities for years, and those investments really paid off when we needed to transition quickly to […]

    Conning: Life-Annuity and Health M&A Continued as Insurers Looked for Growth in 2019; Muted Growth in 2020 Projected

    {May 6th, 2020} by Conning

    HARTFORD, Conn., May 5, 2020 /PRNewswire/ — In 2019, M&A activity involving acquisitions of life-annuity and health insurers in 2019 were slightly higher than in 2018, driven by broad economic, regulatory, competitive, technological, and demographic trends. “Slightly favorable economic conditions were the primary drivers of insurance M&A in 2019,” said Scott Hawkins, a Director, Insurance Research at Conning. “Low […]

    CNO Financial Group Reports First Quarter 2020 Results

    {May 6th, 2020} by CNO Financial Group, Inc.

    CARMEL, Ind., May 5, 2020 /PRNewswire/ — CNO Financial Group, Inc. (NYSE: CNO) today announced first quarter 2020 results. Financial market volatility in March 2020 resulted in a net loss of $21.2 million, or $.15 per diluted share in 1Q20, compared to net income of $51.8 million, or $0.32 per diluted share in 1Q19.  Our 1Q20 net operating income (1) was $84.3 million, or $.58 per diluted share, compared […]

    Genworth Financial Announces First Quarter 2020 Results

    {May 6th, 2020} by Genworth Financial

    RICHMOND, Va., May 5, 2020 /PRNewswire/ — Reapprovals Received From New York Department Of Financial Services (NYDFS) And Virginia Bureau Of Insurance For Pending Merger With China Oceanwide Holdings Group Co., Ltd (Oceanwide) Merger Agreement Extended To Not Later Than June 30, 2020 U.S. Mortgage Insurance (MI) Adjusted Operating Income Of $148 Million, 19 Percent Above Prior Year U.S. […]

    Ohio National Introduces New Fixed Indexed Annuity

    {May 6th, 2020} by Ohio National Financial Services

    CINCINNATI, May 04, 2020 (GLOBE NEWSWIRE) — Ohio National Financial Services is pleased to announce it has launched the ONdex annuity, a new single premium fixed indexed annuity designed to help customers reach their long-term retirement goals. The ONdex annuity provides customers with the opportunity to accumulate assets by earning tax-deferred interest based, in part, […]

    American National Announces First Quarter 2020 Results

    {May 6th, 2020} by American National Insurance Company

    GALVESTON, Texas, May 05, 2020 (GLOBE NEWSWIRE) — American National Insurance Company (NASDAQ: ANAT) announced a net loss for the first quarter of 2020 of $220.4 million or $8.20 per diluted share, compared to net income of $258.2 million or $9.60 per diluted share for the same period in 2019. The decrease in net income […]

    North American Introduces Fidelity Index

    {May 6th, 2020} by North American Company for Life and Health Insurance

    WEST DES MOINES, Iowa, May 05, 2020 (GLOBE NEWSWIRE) — To meet growing client concerns about market volatility, North American Company for Life and Health Insurance® (North American) is launching access to a new index designed by Fidelity for use in its crediting strategies. The index combines key factors in such a way to help enhance returns […]

    2020 Insights on the Impact of COVID-19 on the Insurance Industry in the Unites States – ResearchAndMarkets.com

    {May 6th, 2020} by ResearchandMarkets.com

    DUBLIN–(BUSINESS WIRE)–The “Insurance in US: Coronavirus (COVID-19) Sector Impact” report has been added to ResearchAndMarkets.com’s offering. This report provides a brief review of the key trends and evolving developments that shape the impact of the COVID-19 outbreak in the US insurance industry. It provides a snapshot of the impact on the US insurance industry in light of the COVID-19 […]

    The Standard Partners with Employee Navigator to Enhance Broker and Customer Experience

    {May 6th, 2020} by The Standard

    PORTLAND, Ore.–(BUSINESS WIRE)–Standard Insurance Company (The Standard), a leading provider of financial protection products and services for employers and individuals, has entered into a strategic partnership with Employee Navigator. The software company is a national leader in streamlining benefits and compliance processes for brokers and HR departments, making them a top choice for The Standard to […]

    Interactive Webinar Highlights Posted for “How Life Insurers Are Using Innovative and Compliant Predictive Models”

    {May 6th, 2020} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Viewers can access highlights from an AM Best webinar sponsored by LexisNexis® Risk Solutions to learn how regulatory changes can be an opportunity for innovation. Panelists share their in-depth knowledge of the regulatory environment and review predictive modeling and compliance implications. Panelists include: Gary Sanginario, senior director, analytics product management, LexisNexis Risk Solutions; Patrick Sugent, vice […]

    iPipeline Announces Exclusive Partnership with ForMotiv to Offer Next-Gen Behavioral Intelligence with Monitoring

    {May 6th, 2020} by iPipeline

    EXTON, Pa.–(BUSINESS WIRE)–iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today announced an exclusive OEM partnership with ForMotiv™. ForMotiv is creator of the first Digital Behavioral Intelligence (DBI) platform for the life insurance and financial services industry. Effective immediately, ForMotiv is available to carriers using […]

    SIMON Markets LLC and Raymond James Launch New Strategic Partnership for Annuities

    {May 6th, 2020} by SIMON Markets LLC

    April 29, 2020 10:58 AM Eastern Daylight Time NEW YORK–(BUSINESS WIRE)–SIMON Markets LLC and SIMON Annuities and Insurance Services LLC (“SIMON”) and Raymond James Financial (“Raymond James”) have now unveiled integration that brings SIMON’s end-to-end digital platform for annuities to all 8,000+ Raymond James advisors. The new partnership extends SIMON’s best-in-class insurtech solution to Raymond […]

    M Financial Group Licenses FAST Software to Enable New Digital Ecosystem for Member Firms

    {May 6th, 2020} by FAST

    ISELIN, N.J.–(BUSINESS WIRE)–FAST, a Verisk (Nasdaq:VRSK) business, announced today that M Financial Group has licensed FAST software to help provide innovative products to its Member Firms and their clients. M Financial, a leading distributor of life insurance products and services, will use FAST software to generate additional growth opportunities by developing and offering unique product […]

    AM Best Affirms Credit Ratings of The Northwestern Mutual Life Insurance Company and Its Subsidiary

    {May 6th, 2020} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aaa” of The Northwestern Mutual Life Insurance Company (Northwestern Mutual) and its subsidiary, Northwestern Long Term Care Insurance Company. The companies are domiciled in Milwaukee, WI, and collectively are known as Northwestern Mutual Group (NMG). Concurrently, AM Best has […]

    AIG Reports First Quarter 2020 Results

    {May 6th, 2020} by American International Group, Inc

    NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) today reported net income attributable to AIG common shareholders of $1.7 billion, or $1.98 per diluted common share, for the first quarter of 2020, compared to $654 million, or $0.75 per diluted common share, in the prior year quarter. The improvement was primarily due to $3.5 billion […]

    Prudential Financial, Inc. Announces First Quarter 2020 Results

    {May 6th, 2020} by Prudential Financial, Inc.

    NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) today reported first quarter results. Net loss attributable to Prudential Financial, Inc. was $271 million ($0.70 per Common share) for the first quarter of 2020, compared to net income of $932 million ($2.22 per Common share) for the first quarter of 2019. After-tax adjusted operating income was $939 […]

    Allianz Life Gets Direct Access to eMoney Advisor Platform With New Pact

    {May 6th, 2020} by Jeff Berman

    Allianz Life teamed up with eMoney Advisor as part of a deal that provides the annuities and life insurance firm with direct access to the financial planning software maker’s platform. Allianz Life is also able to leverage the platform’s digital capabilities and collaboration features to “demonstrate the value of annuities through a planning lens,” eMoney […]

    Nationwide Plans to Make Work-From-Home Permanent for Some Offices

    {May 6th, 2020} by Allison Bell

    Nationwide Mutual Insurance Company says having employees work at home in response to the COVID-19 crisis is going so well that it plans to shut down at least five of its traditional brick-and-mortar offices by Nov. 1. The employees and other workers associated with those offices will shift to working permanently at home, Nationwide announced Thursday. […]

    Consumers Who Know More About Annuities May Like Them More

    {May 6th, 2020} by Allison Bell

    Consumers who know more annuities seem to have stronger feelings about them, and the increased knowledge may lead to more positive views than negative views. Analysts at the Secure Retirement Institute have published data supporting those possibilities in a summary of results from a recent study. The researchers who conducted the study had the participants take […]

    Kansas City Life Sees COVID-19 Chilling the Economy

    {May 6th, 2020} by Allison Bell

    COVID-19-related economic turmoil chilled earnings at Kansas City Life Insurance Company in the first quarter. The Kansas City, Missouri-based life insurer is reporting $150,000 in net income for the quarter on $123 million in revenue, compared with $4 million in net income on $130 million for the first quarter of 2019. The company is keeping […]

    9 Things Co9 Things Commenters Are Saying About Iowa’s Best Interest Proposal

    {May 6th, 2020} by Allison Bell

    Iowa looks more and more like a major geographic center for the U.S. annuity industry, and Doug Ommen, Iowa’s insurance commissioner, looks as if he’s one of the top annuity regulators. American Equity Investment Life, Fidelity & Guaranty Life,  FBL Financial Group, Principal and  Transamerica all have headquarters offices or other major offices there, and Ommen led the […]

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