American Equity To Revamp Annuity Lineup; Sales Down In 1Q
May 15, 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 in either the accumulation or income markets, primarily driven by some competitors who in our view were being aggressive in order to gain market share,” he said.