Ameriprise CEO Talks About RiverSource Deal Options
August 3, 2021 by Allison Bell
Jim Cracchiolo gave a careful answer Tuesday to a securities analyst’s question about the future of Ameriprise Financial’s RiverSource Life unit.
Cracchiolo, Ameriprise’s chairman and CEO, was presiding over a conference call the Minneapolis-based company held to brief the analysts on the company’s second-quarter results. The second quarter ended June 30.
Ameriprise announced June 29 that it had agreed to “cede,” or transfer responsibility for, a large block of RiverSource annuity business to Global Atlantic. The block includes RiverSource fixed-rate annuities, income annuities and non-variable indexed annuities backed by $8 billion in reserves.