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Archive for February 2023

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  • Newsflash: This does not bode well for the 1035 activity, fellas/ladies.

    {February 28th, 2023} by Sheryl J. Moore

    Recently I’ve been hearing A LOT of chatter from insurance agents that are replacing a certain indexed annuity, with a surrender charge that extends beyond 15 years. Turns out, the insurance company underwriting this particular annuity has recently slashed their inforce renewal rates/caps/pars. Dramatically. This has put many an insurance agent in the position to […]

    Amid Plethora of Indexes, Annuity Buyers Return to the Familiar

    {February 22nd, 2023} by Cyril Tuohy

    In the third quarter of 2022, for every $100,000 sunk into a fixed-indexed annuity, $44,000, or 44%, went to the S&P 500 Index, according to Wink’s Sales & Market Report. That was up from 32.8% in the third quarter of the previous year. Hybrid indexes, which include volatility-controlled indexes, scooped up 41.4% of premiums, down from 60.1% […]

    You can’t publish a headline like “10 Best Annuity Companies In the US” and NOT get my attention.

    {February 22nd, 2023} by Sheryl J. Moore

    I was all over this one on Yahoo Finance! After all, you can’t publish a headline like “10 Best Annuity Companies In the US” and NOT get my attention. Now, before we you go on to the list of top annuity companies, you have to know the following: 1. The author of this article, Insider Monkey is “a […]

    AIG to Create Independent Agency to Serve Wealthiest Clients

    {February 22nd, 2023} by Jeff Berman

    American International Group said Monday it entered into a binding memorandum of understanding with Stone Point Capital, a private equity firm specializing in investing in businesses within the global financial services sector, to create an independent managing general agency to serve high-net-worth and ultra-high-net-worth markets. AIG’s Private Client Group will shift to the new independent […]

    Homesteaders Life Company Enters Strategic Relationship to Distribute Life Insurance Product Through The Beneficiary Liquidity Plan®

    {February 22nd, 2023} by Homesteaders

    West Des Moines, Iowa — Homesteaders Life Company (“Homesteaders”), a leader in pre-planning life insurance and end-of-life planning, is partnering with Phil Graham, Creator and CEO of the Beneficiary Liquidity Plan (“BLP”) to offer GenBridge, a new life insurance product designed to provide immediate liquidity of funds upon death and flexibility in financing final expenses.  “Homesteaders […]

    DOL Fiduciary Rollover Guidance Struck Down by Florida Court

    {February 22nd, 2023} by Melanie Waddell

    A federal court in Tampa, Florida, on Monday struck down the Labor Department’s guidance that declared rollover advice fiduciary advice. The Florida court ruled that Labor’s interpretation of the five-part test setting out who qualifies as a fiduciary under the Employee Retirement Income Security Act was “arbitrary and capricious.” Click HERE to read the full […]

    This is not the kind of list that you want to land on.

    {February 22nd, 2023} by Sheryl J. Moore

    This is not the kind of list that you want to land on.  However, Brian O’Connell with TheStreet suggests that VA fees are one of the “worst” fees that consumers pay. Click to read Brian’s Money Experts Say These Are the Worst Consumer Fees.  Interesting to see VAs lumped into a list with bank overdraft fees and ATM fees, […]

    You’re Probably Wrong About How You’ll Pay for Retirement

    {February 22nd, 2023} by Mary Ellen Cagnassola

    Think your investments will carry you through retirement? New research says that’s not the reality for the majority of workers in their pre-retirement years. In a recent survey of Americans aged 40 to 85 with at least $100,000 in household investable assets, research trade association LIMRA found that fewer and fewer respondents are confident about […]

    AM Best Affirms Credit Ratings of Equitable Holdings, Inc. and Its Life Subsidiaries

    {February 22nd, 2023} by AM 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+” (Excellent) of Equitable Financial Life Insurance Company of America (EFLICOA) (Phoenix, AZ) and Equitable Financial Life Insurance Company (EFLIC) (New York, NY). EFLICOA and EFLIC collectively are referred to as Equitable Life […]

    American Equity Ramps Private Asset Allocation to 22% and Achieves Close to $10 billion in Fee-Generating Reinsurance Balances in Fourth Quarter 2022

    {February 22nd, 2023} by American Equity Investment Life Holding Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), a leading issuer of fixed index annuities (FIAs) today reported its fourth quarter 2022 results. Results in the quarter reflected a lower-than-expected return on mark-to-market assets and higher fee revenues on reinsured account values. American Equity’s President and CEO, Anant Bhalla stated: “The […]

    Corebridge Financial Announces Fourth Quarter and Full Year 2022 Results

    {February 22nd, 2023} by Corebridge Financial, Inc

    HOUSTON–(BUSINESS WIRE)–Corebridge Financial, Inc. (“Corebridge” or the “Company”) (NYSE: CRBG) today reported financial results for the fourth quarter and full year ended December 31, 2022. Kevin Hogan, President and Chief Executive Officer of Corebridge, said, “2022 was a year of significant milestones for our company. We rebranded as Corebridge Financial early in the year as […]

    AM Best Assigns Credit Ratings to The Ohio State Life Insurance Company

    {February 22nd, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of “bbb-” (Good) to The Ohio State Life Insurance Company (OSL) (Dallas, TX). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect OSL’s balance sheet strength, which AM Best assesses as adequate, as […]

    PGA TOUR and Pacific Life Announce Five-year Partnership

    {February 22nd, 2023} by Pacific Life

    Global Insurance Provider Becomes Official Life Insurance Sponsor of PGA TOUR and PGA TOUR Champions February 21, 2023 01:00 PM Eastern Standard Time PONTE VEDRA BEACH, Fla. & NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life, a leading global life insurance and retirement solutions company, today announced a new five-year partnership with the PGA TOUR as part of […]

    AIG Reports Fourth Quarter and Full Year 2022 Results

    {February 22nd, 2023} by AIG

    NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) today reported financial results for the fourth quarter and full year ended December 31, 2022. AIG Chairman & Chief Executive Officer Peter Zaffino said: “2022 was an extraordinary year of progress for AIG. We continued to improve the profitability of our General Insurance business, closing the year […]

    Prosperity Withdraws Proposal to Acquire American Equity

    {February 22nd, 2023} by Prosperity Group Holdings LP

    NEW YORK–(BUSINESS WIRE)–Today, Prosperity Group Holdings LP (“Prosperity”) issued the following statement, regarding its proposal to acquire the common shares of American Equity Investment Life Holding Company (“American Equity”) (NYSE: AEL): “Prosperity is withdrawing its proposal to acquire American Equity for $45.00 per share. Given American Equity’s refusal to engage and our desire to proceed […]

    Symetra Named One of America’s Best Midsize Employers 2023 by Forbes

    {February 22nd, 2023} by Symetra

    BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra has been recognized by Forbes as a top national employer. The Bellevue, Wash.-based life insurer was named to the Forbes 2023 America’s Best Midsize Employers list, coming in at No. 58 among the top 500 midsize employers nationwide. Based entirely on employee satisfaction and willingness to recommend their employer to others, the designation […]

    Simplicity and The Leaders Group Unite to Bring an Unrivaled Service Offering to the Independent Financial Product Distribution Channel

    {February 22nd, 2023} by Simplicity Group

    SUMMIT, N.J., Feb. 15, 2023 /PRNewswire/ — Simplicity Group Holdings, Inc. (“Simplicity”) today announced that it has entered into a definitive agreement to acquire The Leaders Group, Inc. (“The Leaders Group”), a national, independent broker-dealer (IBD) located in Littleton, CO. Founded by Dave Wickersham in 1994, The Leaders Group is a leading broker-dealer for brokerage general agencies and independent financial advisors. […]

    WeBuy75.com Launches Advanced Life Expectancy Calculator for Life Insurance Industry

    {February 22nd, 2023} by WeBuy75

    ATLANTA, Feb. 14, 2023 /PRNewswire/ — WeBuy75.com, a life settlement consulting firm, recently launched a new version of its life expectancy calculator, explicitly tailored to the life insurance industry. The new calculator uses proprietary algorithms and mortality tables that reflect the death rates of U.S. residents with life insurance policies. It provides valuable data for a wide variety of […]

    OneAmerica Survey, Whitepaper Offer Insights on Female Financial Advisors

    {February 22nd, 2023} by OneAmerica

    INDIANAPOLIS, Feb. 16, 2023 /PRNewswire/ — OneAmerica® today unveiled findings from a recent survey of over 200 female financial advisors. The results, detailed in a corresponding whitepaper, offer eye-opening insights on what motivates women to join and stay in the financial advisor profession, the unique challenges they face, and the common factors that fuel their success.  The survey was […]

    Simplicity Welcomes Lauren Wright and Justin Wright to the Partnership with the Acquisition of Financial Professionals Group

    {February 22nd, 2023} by Simplicity Group

    SUMMIT, N.J., Feb. 14, 2023 /PRNewswire/ — Simplicity Group (“Simplicity”) today announced the acquisition of Financial Professionals Group (FPG), an insurance marketing organization based in Foothill Ranch, CA specializing in helping advisors secure legacy, longevity, long-term care and income protection solutions for their clients. With the successful closing of this transaction, Simplicity welcomes Lauren Wright and Justin Wright as partners, both of whom will […]

    Federal judge tosses out portion of DOL rollover advice guidance

    {February 22nd, 2023} by John Hilton

    Financial advisors providing first-time advice in a plan rollover setting will not be considered fiduciaries – at least for the time being. A federal district court judge in Florida sided with an industry trade group Monday in striking down a portion of guidance the Department of Labor issued in 2021 that expanded the definition of […]

    Strict new privacy proposal would limit how insurers could use data

    {February 22nd, 2023} by John Hilton

    [This story has been updated with clarifications provided by the NAIC] A state insurance regulator group is proposing a sweeping overall revision of privacy rules that would significantly restrict what insurers could do with the private information of consumers. Public comment is being accepted on the Consumer Privacy Protection Model Law through April 3. It […]

    Corebridge execs upbeat despite reporting $566M Q4 loss

    {February 22nd, 2023} by Doug Bailey

    Despite a brutal fourth quarter that resulted in a $566 million net loss, Corebridge Financial Inc. executives said Friday they were upbeat about the newly branded company’s prospects for the year. Corebridge, one of the nation’s biggest retirement products and insurance providers, blamed the quarterly loss on derivative losses and “foreign exchange movements,” but still […]

    American Equity annuity sales high, as are surrenders, in a dicey 4Q

    {February 22nd, 2023} by John Hilton

    In an environment where annuities are smashing sales records, American Equity focused on repricing discipline, executives said, which held sales down during the fourth quarter. A leading seller of fixed indexed annuities, American Equity reported fourth-quarter sales of $900 million, of which 87%, or $783 million, were in fixed index annuities. FIA sales were down […]

    Analysts: DOL rollover ruling ‘a big deal,’ but don’t get carried away

    {February 22nd, 2023} by John Hilton

    Monday’s federal court ruling tossing out a portion of the Department of Labor’s advice rule governing rollovers is “a big deal,” a leading analyst said Thursday. But it is also just one step in a very long process, added Bradford P. Campbell, partner at Faegre Drinker Biddle & Reath. “I think the answer is not, […]

    3 Ways to Capitalize on Annuities’ Surging Popularity: Cerulli

    {February 22nd, 2023} by Dinah Wisenberg Brin

    With annuity sales surging amid higher interest rates, the industry should consider various steps to further expand the market, including developing new product concepts such as long-term care hybrids and pushing for more annuities in employer retirement plans, a new report from Cerulli Associates suggests. If fixed annuity rates remain high enough, advisors and clients […]

    Washington State’s LTC Mandate Temporarily Reshaped Life Sales: MIB

    {February 22nd, 2023} by Allison Bell

    Washington state’s effort to set up a public long-term care insurance program has shown U.S. life insurers just how enormous the long-term care planning market could be. Washington state let consumers use private long-term care insurance policies and life insurance policies that offer LTC benefits to escape from a new public LTCI program payroll tax. […]

    Policy Appraisal Firm Adds Life Expectancy Calculator

    {February 22nd, 2023} by Allison Bell

    Alife insurance policy appraiser is courting your clients with a new tool: a web-based calculator that predicts a user’s life expectancy based on the firm’s own life expectancy data and methods. The firm, WeBuy75.com, bases the life expectancy forecasts on factors such as exercise, use of medical care and social interactions as well as factors […]

    Prosperity Drops Effort to Acquire Annuity Issuer

    {February 22nd, 2023} by Allison Bell

    An insurer backed by Elliott Investment Management has dropped efforts to acquire a well-known annuity issuer. The company, Prosperity Group Holdings, says it has withdrawn a $45-per-share offer for American Equity Investment Life Holding Company because of American Equity’s lack of interest. Click HERE to read the full story via ThinkAdvisor     Wink’s Note: […]

    New Business Specialist

    {February 22nd, 2023} by Group1001

    Description Position at Clear Spring Life and Annuity Company Group1001 is a consumer-centric, technology-driven family of insurance companies on a mission to deliver outstanding value and operational performance by combining financial strength and stability with deep insurance expertise and a can-do culture. Group1001’s culture emphasizes the importance of collaboration, communication, core business focus, risk management, and […]

    National Life Group promotes two leaders in Independent Distribution, celebrating its 25th year

    {February 21st, 2023} by National Life Group

    Montpelier, VT – (February 1, 2023) National Life Group Chairman, CEO and President Mehran Assadi announced that co-leaders of Independent Distribution – Matt Frazee and Louis Puglisi – have been promoted to Field Executive Vice Presidents. This is the 25th anniversary of Independent Distribution at National Life and the company’s 175th year in business. Over the past 25 […]

    NCOIL HIGHLIGHTS FEBRUARY AS INSURANCE CAREERS MONTH

    {February 13th, 2023} by NCOIL

      Belmar, NJ – The National Council of Insurance Legislators (NCOIL) joins the Insurance Careers Movement (ICM) in highlighting February as the seventh annual Insurance Careers Month. The ICM is a global network of more than 1,000 insurance carriers, agents, trade associations, and industry partners working to engage the next generation for careers in insurance. […]

    Many who ‘want’ to retire later in life actually need to, study says

    {February 13th, 2023} by Nathan Place

    In recent years, Americans have been retiring later and later in life. But are they working longer because they want to, or because they need to? According to new research, the difference is not so clear-cut. That’s the upshot of a new study by Voya Cares, a research division of the investment firm Voya Financial, and Easterseals, a nonprofit […]

    Prudential rides out Assurance IQ struggles with 4th quarter loss

    {February 13th, 2023} by John Hilton

    Prudential Financial executives stressed strong financials even as the insurer announced a $558 million loss for the fourth quarter 2022. The results, announced yesterday, reflect poor performance across most of the segments, lower premiums and net investment income, offset by lower expenses. After-tax adjusted operating income was $907 million in the quarter, compared to $1.23 […]

    Lincoln ‘selling on our terms’ as it rebounds from lost quarter

    {February 13th, 2023} by John Hilton

    Lincoln Financial took a few small steps in its turnaround during the fourth quarter, eking out $6 million in net income. But after taking a $2.6 billion loss in the third quarter, largely due to a $2.2 billion charge against its life insurance reserves, Lincoln execs were upbeat during a Thursday call with Wall Street […]

    What Life Insurers Are Saying About Death Now

    {February 13th, 2023} by Allison Bell

    The number of U.S. deaths was lower in the fourth quarter of 2022 than in the fourth quarter of 2021, when the COVID-19 omicron variant surge was rolling in, according to executives from Equitable, Lincoln Financial, Global Life and other life insurers. But total excess mortality from all causes is still noticeably higher than it […]

    Consideration of annuity laddering

    {February 13th, 2023} by Sheryl J. Moore

    Get outta my head, Matthew DiGangi, MBA, CLTC! For those who are concerned about future interest rates, I also suggest the consideration of annuity laddering. Today, you can buy annuities with rates guaranteed for 1-, 2-, 3-, 4-, and 5-years+. Why not split the money-up, amongst several rate guarantee periods, to ensure that you don’t lose […]

    Adding Annuities still a concern for plan sponsors

    {February 13th, 2023} by Ary Rosenbaum - The Rosenbaum Law Firm P.C.

    There has been a push to add annuities to retirement plans, but I don’t see it gaining ground. According to Alight, plan sponsors are hesitant to add it, which was part of the 2019 SECURE Act. Alight’s data showed that among plan sponsors, 47% cite fiduciary concerns as a major reason for not adding annuities.  […]

    Variable Annuities Look Pretty Good at Tax Time

    {February 13th, 2023} by Scott Stolz

    Tax season is here, and so are the difficult 1099 talks with clients. Having to explain to a client that they have to pay capital gains taxes despite staring at negative 20% returns is never a fun conversation. “Let me see if I have this straight: My investment in XYZ fund has gone from $1 […]

    For More Certainty in Your Retirement Portfolio, Consider Annuities

    {February 13th, 2023} by Tara Siegel Bernard

    In a kinder universe, retirees wouldn’t need to worry about market volatility or outliving their money. But 2022 was a nail-biter: Bonds plunged alongside stocks, and many people in or nearing retirement wanted investments that would guarantee a smoother ride. Many of them turned to annuities, whose sales surged 22 percent to an estimated $310 billion in […]

    U.S. Life Application Activity Heats Up

    {February 13th, 2023} by Allison Bell

    U.S. individual life insurance application activity looked healthier in January, according to new MIB Group survey data. The insurance data-sharing consortium saw the number of applications flowing through its application-checking systems increase 8.6% from the number recorded in January 2022. In 2022, the MIB life application activity indicator fell 5.5%, partly because consumer fear of the […]

    Nassau Financial Adds a Bonus Annuity

    {February 13th, 2023} by Allison Bell

    A life insurer is using quick bursts of cash to get retirement savers’ attention. Nassau Life and Annuity Company, a subsidiary of Nassau Financial Group, introduced the Nassau Bonus Annuity — a single-premium, non-variable indexed annuity — Thursday. A client can tie part of the crediting rate to the performance of one or more options […]

    What Life Insurers Are Saying About Death Now

    {February 13th, 2023} by Allison Bell

    The number of U.S. deaths was lower in the fourth quarter of 2022 than in the fourth quarter of 2021, when the COVID-19 omicron variant surge was rolling in, according to executives from Equitable, Lincoln Financial, Global Life and other life insurers. But total excess mortality from all causes is still noticeably higher than it […]

    Lincoln Financial to Tilt Away From Some Term Life Products

    {February 13th, 2023} by Allison Bell

    Lincoln Financial plans to reduce sales of some types of term life insurance to stem the amount of capital flowing into a relatively small part of its business. Ellen Cooper, the company’s CEO, said Thursday that it will still write some term life products, with high levels of death benefits and high profit margins, but […]

    Annuitization is so undervalued!

    {February 13th, 2023} by Sheryl J. Moore

    I always love a good read from my dear friend Steve Parrish, JD,RICP,CLU,ChFC,AEP with the Retirement Income Center at The American College of Financial Services. This time, it was with Forbes. Click HERE to read Reasons You Should Retain Your Deferred Annuity When You Retire In this piece, he suggests numerous options for dealing with a deferred annuity, once […]

    CNO Financial Group Reports Fourth Quarter and Full Year 2022 Results

    {February 13th, 2023} by CNO Financial Group, Inc.

    CARMEL, Ind., Feb. 7, 2023 /PRNewswire/ — CNO Financial Group, Inc. (NYSE: CNO) today announced that for the quarter ended December 31, 2022, net income was $43.4 million, or $0.37 per diluted share, compared to $115.8 million, or $0.93 per diluted share, in 4Q21. Net operating income (1) in 4Q22 was $65.8 million, or $0.56 per diluted share, compared to $108.5 million, or $0.87 per diluted share, in 4Q21. Net income for the […]

    F&G Annuities & Life Announces Fourth Quarter and Full Year 2022 Earnings Release and Conference Call

    {February 13th, 2023} by FGL Holdings

    DES MOINES, Iowa, Feb. 8, 2023 /PRNewswire/ — F&G Annuities & Life, Inc. (NYSE: FG) (“F&G”), a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, will release fourth quarter and full year 2022 earnings after the close of regular market trading on Wednesday, February 22, 2023. A webcast and conference call to discuss the […]

    Fidelity National Financial Announces Fourth Quarter and Full Year 2022 Earnings Release and Conference Call

    {February 13th, 2023} by Fidelity National Financial, Inc.

    JACKSONVILLE, Fla., Feb. 8, 2023 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF) (“FNF”), a leading provider of title insurance and transaction services to the real estate and mortgage industries, and a leading provider of insurance solutions serving retail annuity and life customers and institutional clients through its majority owned subsidiary F&G Annuities & Life, Inc. (NYSE: FG), will […]

    Northwestern Mutual Accelerates ESG Momentum in 2022 Sustainability Report

    {February 13th, 2023} by Northwestern Mutual

    MILWAUKEE, Feb. 8, 2023 /PRNewswire/ — Northwestern Mutual, a leading financial services company, today announced the release of its 2022 Sustainability Report. The report, entitled Building a Better Tomorrow, Today, holistically defines Northwestern Mutual’s environmental, social, and governance (ESG) strategy and reflects on the company’s progress in five key focus areas: its clients, social impact, corporate governance, responsible investing and […]

    Brighthouse Financial Announces Fourth Quarter and Full Year 2022 Results

    {February 13th, 2023} by Brighthouse Financial, Inc

    February 09, 2023 04:15 PM Eastern Standard Time CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today its financial results for the fourth quarter and full year ended December 31, 2022. Fourth Quarter and Full Year 2022 Results The company reported a net loss available to shareholders of $967 million […]

    Lincoln Financial Group Reports Fourth Quarter and Full Year 2022 Results

    {February 13th, 2023} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported net income for the fourth quarter of 2022 of $6 million, or $0.01 per diluted share available to common stockholders, compared to net income in the fourth quarter of 2021 of $220 million, or $1.20 per diluted share available to common stockholders. Fourth quarter adjusted income […]

    Prudential Financial, Inc. Announces 2022 Results

    {February 13th, 2023} by Prudential Financial, Inc.

    Fourth quarter 2022 net loss attributable to Prudential Financial, Inc. of $558 million or $1.53 per Common share versus net income of $1.208 billion or $3.13 per share for the year-ago quarter. Fourth quarter 2022 after-tax adjusted operating income of $907 million or $2.42 per Common share versus $1.227 billion or $3.18 per share for the […]

    Horace Mann reports full-year and fourth-quarter 2022 results consistent with pre-announcement

    {February 13th, 2023} by Horace Mann Educators Corporation

    Net loss of $2.6 million, or $0.06 per share, for the full year and net loss of $18.5 million, $0.45 per share, for the fourth quarter impacted by realized investment losses Core earnings* of $45.7 million, or $1.09 per share, for the full year with core loss* of $4.7 million, or $0.11 per share, for […]

    Nassau Financial Group Launches Nassau Bonus Annuity℠

    {February 13th, 2023} by Nassau Financial

    HARTFORD, Conn.–(BUSINESS WIRE)–Nassau Financial Group (“Nassau”) today introduced a new bonus fixed indexed annuity (“FIA”) to its product portfolio, Nassau Bonus AnnuitySM. Issued by Nassau Life and Annuity Company, this latest offering is a single premium accumulation-focused fixed indexed annuity with a premium bonus and guaranteed lifetime withdrawal benefit options. “The launch of Nassau Bonus […]

    Apollo touts new products, distribution with No. 1 Athene this year

    {February 13th, 2023} by Steven A. Morelli

    Apollo Global Management had a booming fourth quarter thanks to Athene, putting the company solidly at the top of the fixed annuity business and the CEO put the industry on notice that Athene intends to stay there. Apollo has been solidifying its position as a private credit behemoth partly with the help of capital generated […]

    I expect that the demand for fixed annuities will continue.

    {February 13th, 2023} by Sheryl J. Moore

    I always love it when Steve Morelli from InsuranceNewsNet gives me the rundown on insurance companies’ earnings calls: Click HERE to view Brighthouse sees record annuity year, while life insurance lags In this piece, we get some intel on Brighthouse Financial. The company CEO, Eric T. Steigerwalt, goes on the record as saying, “The company [Brighthouse] does not expect […]

    Self-Directed IRAs Carry Risks, Regulators Warn

    {February 12th, 2023} by Karen Demasters

    Investors and their advisors should be wary of self-directed IRAs, which are riskier than conventional IRAs, according to three regulatory and consumer protection agencies that issued an investor alert yesterday. Self-directed IRAs often include investments that carry added risk not found in more mainstream investments, the alert said. They are often less transparent and less […]

    PRESS RELEASE: Financial Independence Group Appoints Brett Hynes As New President of Sales

    {February 12th, 2023} by FIG Marketing

    CORNELIUS, NC – January 31, 2022 – Financial Independence Group, LLC (FIG), a leading financial services conglomerate working with independent financial advisors specializing in annuities, life insurance and long-term care products, has named Brett Hynes as president of sales. Hynes’s executive leadership will create a high-performing team to empower FIG-partnered financial professionals to grow business, serve […]

    AmeriLife focuses on ‘organic growth’ in next step

    {February 6th, 2023} by John Hilton

    With a key December hire in a newly created position, AmeriLife took the next step in its plan to grow annuity sales organically. Matthew Coleman brings nearly 30 years of industry experience to AmeriLife, where he is the company’s first vice president of annuity and life product innovation.   Click HERE to read the full […]

    Regulators Nix This Odd Policy Rider for Straying Over The Line

    {February 6th, 2023} by Warren S. Hersch

    The rider is automatically issued with the contract, at no extra cost. National Life said in a news release that it became available on all FlexLife indexed life policies beginning Jan. 28, “depending on state approval.” The carrier is the industry’s top seller of indexed life insurance, according to research firm Wink. Click HERE to read […]

    Under New Incentive Plan, American Equity CEO Could Reap $72M

    {February 6th, 2023} by Cyril Tuohy

    “I still remember when the CEO of American Equity barely earned $100,000 annually in salary,” said Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report, in a LinkedIn post. “My, how things have changed over the past 17 years.” Click HERE to read the full story via Life Annuity Specialist

    SECURE 2.0 Can Make Clients’ Retirement Plans Stronger

    {February 6th, 2023} by Tyler De Haan

    Parents out there may relate to this: I was at my daughter’s softball game last summer. After heavy rainfall, my son decided to jump in every puddle on the way to the field. After I cleaned him up the best I could, I finally sat down, only to look over at him rolling around in […]

    Life Happens Brings Back the ‘Insure Your Love’ Campaign

    {February 6th, 2023} by Allison Bell

    COVID-19 reminded clients that people might die earlier than they expect. Life Happens is trying to take a gentler approach to building life insurance awareness this month, by bringing back its annual Insure Your Love campaign. The nonprofit group developed the campaign series in 2010, to associate buying life insurance with Valentine’s Day, and real […]

    Annuities Versus The Four Percent Rule

    {February 6th, 2023} by Charlie Gipple

    I recently saw somebody write about how we should not compare annuities to the four percent rule. Although I agree that there needs to be additional disclosures and education in the annuity part of the conversation, I disagree with not comparing the two. Re-Anchor Clients in Reality, Not Fairy Dust I believe that consumers tend […]

    How An Annuity Can Help Protect You From A Retirement Risk You Might Not Even Know About

    {February 6th, 2023} by David Abreu

    The sequence of returns is an important concept to understand when it comes to retirement planning. In fact, in certain scenarios, it can mean the difference between a successful retirement and one that’s not so lucky. In my experience as the founder of a firm that provides annuity services, I’ve found that the “sequence of […]

    Financial Independence Group Appoints Brett Hynes As New President of Sales

    {February 6th, 2023} by Financial Independence Group

    Cornelius, NC – January 31, 2023 – Financial Independence Group, LLC (FIG), a leading financial services conglomerate working with independent financial advisors specializing in annuities, life insurance and long-term care products, has named Brett Hynes as president of sales. Hynes’s executive leadership will create a high-performing team to empower FIG-partnered financial professionals to grow business, serve […]

    How Annuities Can Help You Befriend The ‘Enemies Of Retirement’

    {February 6th, 2023} by Scott Romine

    2022 was a “year for the books” in the financial services industry, as market volatility, rising interest rates and inflation impacted all Americans. Serving a company that aims to simplify retirement planning through annuity products and financial know-how, I constantly hear about these challenges and the risks associated with planning for life after work. Click […]

    Variable Annuity Replacements In Finra’s Crosshairs

    {February 6th, 2023} by Tracey Longo

    Variable annuity contract replacements are now obviously on the radar of the Financial Industry Regulatory Authority, as a mid-January report by Finra on its 2022 exam findings shows a significant number of product switches have not been in customers’ best interests. While there can be good reasons for a rep to sell a customer a […]

    Some of my comments about fiduciaries’ attitudes toward annuities may have been taken out of context.

    {February 6th, 2023} by Sheryl J. Moore

    I appreciated last night’s story by Ed Hayes in Financial Advisor Magazine. I think his editor was a little overzealous though? Click HERE to read Are Advisors Warming up to Annuities? Some of my comments about fiduciaries’ attitudes toward annuities may have been taken out of context. “Annuities have been incorrectly associated with high commissions, illiquidity, and significant […]

    NAILBA’s/Finseca Insurbrief

    {February 6th, 2023} by Sheryl J. Moore

    Super awesome to see NAILBA/Finseca using data from “Wink’s Sales & Market Report” to point-out Transamerica‘s top-selling Transamerica Foundation IUL and the company’s #2 position in indexed life sales too! FYI- I am both “industry analysts” and “officials” as it relates to the “IUL Speed Bump” segment in the attached video. I should add that to my resume… […]

    National Life Group expands suite of living benefits, adds Alzheimer’s and a fertility journey rider

    {February 6th, 2023} by National Life Group

    The companies of National Life Group are expanding their suite of living benefits ¹, adding Alzheimer’s Disease and a new fertility journey rider, that began on January 28. These expansions have the potential to support many, as more than 6.5 million Americans are estimated to be living with Alzheimer’s dementia 2, and the average cost of […]

    Equitable, Lincoln and Security Benefit Add Products for Stability Seeker

    {February 6th, 2023} by Allison Bell

    Big life and annuity issuers, and some smaller players, are breaking through the financial services sector’s stunned silence with talk about products that offer strong value guarantees. The COVID-19 pandemic has eased, and the stock market has overcome most of the volatility that hit in the fall. Click HERE to read the full story via […]

    AM Best Affirms Credit Ratings of Nassau Financial Group, L.P.’s Insurance Subsidiaries

    {February 6th, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR’s) of “bbb” (Good) of Nassau Life Insurance Company, Nassau Life and Annuity Company and Nassau Life Insurance Company of Kansas (Overland Park, KS). These companies are collectively referred to as the Nassau Insurance Group […]

    MassMutual named to 2023 FORTUNE World’s Most Admired Company list

    {February 6th, 2023} by MassMutual

    SPRINGFIELD, Mass.–(BUSINESS WIRE)–Massachusetts Mutual Life Insurance Company (MassMutual) has been named a World’s Most Admired Company by FORTUNE® Magazine, placing #2 in the life and health insurance industry category and leading among mutual company peers. Notably, MassMutual ranked No. 1 for innovation in its industry category, the fifth time in the past six years the […]

    MetLife Among the World’s Most Admired Companies, According to Fortune Magazine

    {February 6th, 2023} by MetLife

    HONG KONG–(BUSINESS WIRE)–MetLife, Inc. (NYSE: MET) today announced that it once again has been named to Fortune magazine’s 2023 list of the “World’s Most Admired Companies.” Eight life insurers were included in the annual report card of the best-regarded companies. Annually, Fortune partners with Korn Ferry to rank companies by their corporate reputation. Corporate executives, […]

    MetLife CFO John McCallion Provides Fourth Quarter and Full Year 2022 Financial Update Video

    {February 6th, 2023} by MetLife

    NEW YORK–(BUSINESS WIRE)–MetLife, Inc. (NYSE: MET) today announced that Executive Vice President and Chief Financial Officer John McCallion has provided a fourth quarter and full year 2022 financial update video. The video can be viewed on the company’s website at https://www.metlife.com/about-us/newsroom/#video. About MetLife MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of […]

    American Equity Declares 1st Quarter 2023 Preferred Stock Dividends

    {February 6th, 2023} by American Equity Investment Life Insurance Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), today announced that in accordance with the terms of its 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A (the “Series A Preferred Stock”), which is represented by depositary shares, each representing a 1/1,000th interest in a share of Series A Preferred Stock (the “Series […]

    AM Best Affirms Credit Ratings of CNO Financial Group, Inc. and Its Life/Health Subsidiaries

    {February 6th, 2023} by AM 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” (Excellent) of the life/health insurance 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 […]

    259 Ameriprise Financial Advisors Named to the Forbes Best-in-State Wealth Management Teams List

    {February 6th, 2023} by Ameriprise Financial, Inc.

    MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial Inc., (NYSE AMP) today announced that 259 of the firm’s financial advisors were named to the Forbes Best-in-State Wealth Management Teams list. Forbes recognizes the industry’s top advisors according to several factors, which include quality of their practices, professionalism and success in the business. The rankings are finalized based on data provided […]

    Ameriprise Financial Included in 2023 Bloomberg Gender-Equality Index

    {February 6th, 2023} by Ameriprise Financial, Inc.

    MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP) today announced that it has been included in the Bloomberg Gender-Equality Index (GEI) for the third time. The index recognizes companies for their policies and practices in support of women in the workforce. To become a member of the GEI, Ameriprise performed well across the index’s five pillars: leadership […]

    Horace Mann included in 2023 Bloomberg Gender-Equality Index

    {February 6th, 2023} by Horace Mann Educators Corporation

      Commitment to diversity, equity and inclusion recognized for fifth consecutive year   Horace Mann has been named to the 2023 Bloomberg Gender-Equality Index. \\ January 31, 2023 08:00 AM Eastern Standard Time SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) today announced that it is one of 484 companies worldwide named to the 2023 Bloomberg […]

    NORTHWESTERN MUTUAL ANNOUNCES $500M INVESTMENT IN DOWNTOWN MILWAUKEE CAMPUS

    {February 6th, 2023} by Northwestern Mutual

    Investment in North Office Building to bring downtown campus capacity to 9,000 and serve as expanded hub for employees, financial representatives, and business and community partners MILWAUKEE, Feb. 2, 2023 /PRNewswire/ — Northwestern Mutual today announced plans to invest more than $500 million in its North Office Building located at 818 East Mason Street in downtown Milwaukee to expand its world-class […]

    GLOBE LIFE INC. REPORTS FOURTH QUARTER 2022 RESULTS

    {February 6th, 2023} by Globe Life Inc.

    MCKINNEY, Texas, Feb. 1, 2023 /PRNewswire/ — Globe Life Inc. (NYSE: GL) reported today that for the quarter ended December 31, 2022, net income was $2.14 per diluted common share, compared with $1.76 per diluted common share for the year-ago quarter. Net operating income for the quarter was $2.24 per diluted common share, compared with $1.70 per diluted common share for the year-ago quarter. Net income for […]

    Cognizant Named a Technology Leader Across Industries in 17 Analyst Reports Throughout Q4 2022

    {February 6th, 2023} by Cognizant

    Top Analyst Firms Highlight Cognizant’s Growing Partnerships, Technology Capabilities, and Innovative Thinking to Help Clients Quickly Scale and Compete TEANECK, N.J., Feb. 3, 2023 /PRNewswire/ — Cognizant (NASDAQ: CTSH) was recognized for its technology leadership and digital modernization capabilities by independent analyst firms throughout Q4 2022. In 17 reports assessing technology providers in banking, insurance, healthcare, and other industries, Cognizant was […]

    F&G Annuities & Life, Inc. Announces Equity Investment in Life IMO SYNCIS

    {February 6th, 2023} by F&G Annuities & Life, Inc.

    Provides F&G with 49% Ownership Stake of SYNCIS Validates Diversification Strategy to Expand Owned Distribution While Boosting Presence in Underserved Markets DES MOINES, Iowa , Jan. 31, 2023 /PRNewswire/ — F&G Annuities & Life, Inc. (NYSE: FG) (“F&G”), a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, today announced that a subsidiary of F&G has acquired […]

    Study: Does pessimism really suppress annuity sales?

    {February 6th, 2023} by Steven A. Morelli

    A prospect’s pessimism about their lifespan is usually seen as a high hurdle in an annuity sale, but lowering the dour outlook has less impact than in raising the objective facts about longevity, according to a recent study.   Researchers were taking a crack at the “annuity puzzle” that has vexed the insurance industry since […]

    Sweet streams of income: ChatGPT, the bard of annuities

    {February 6th, 2023} by Steven A. Morelli

    Annuities can be life changing and sustaining but let’s face it, they are about as exciting as a mortality table. And why should it be? After all, annuities can be as life-altering to a retiree as a muse is to an artist. Shouldn’t it be the subject of at least one poem or song? OK, […]

    American Equity readies 2022 earnings report amid ongoing conflicts

    {February 6th, 2023} by John Hilton

    American Equity is one of the more anticipated earnings reports this month, with the fixed indexed annuity seller fighting off all comers. For now. The West Des Moines, Iowa, insurer remains an attractive takeover target after fending off a several takeover bids in three years. AEL rejected a recent offer from Prosperity Group to acquire […]

    Annuity sales hit record last year, eclipsing sales during 2008 financial crisis amid fear, higher rates

    {February 6th, 2023} by Greg Iacurci

    Amid stock market gyrations, recession fears and loftier payouts, consumers last year pumped a record sum of money into annuities, a type of insurance that offers a guaranteed income stream. Buyers funneled $310.6 billion into annuities in 2022, according to estimates published by Limra, an insurance industry trade group. Click HERE to read the full […]

    From Best’s Review: Annuities Sales Grew Sharply in 2022; Strong Year in 2023 Possible

    {February 6th, 2023} by Terrence Dopp

    Annuities had a banner year in 2022 as volatility in equities markets prompted investors to seek stable, safer returns.  Click HERE to view via AM Best

    Buy Term, Or Invest…Different?

    {February 6th, 2023} by Sean Wickersham

    As I began to brainstorm for this article, something I am always honored to be asked to write, I came across a blog from a well-known financial guru on variable life insurance (VUL). The piece was mostly dedicated to tearing apart any kind of permanent insurance product and insisting that the only life insurance worth […]

    Annuities–There ARE Guarantees In Life

    {February 6th, 2023} by Todd Radwick

    “Fixed indexed annuities” (FIAs) and their ability to provide a guaranteed life income in retirement without market risk are to the private sector what “defined benefit pension plans” are to government employees in the public sector—but on steroids. Granted, there are still some larger companies that offer full “pensions,” but this is becoming more and more rare. Ironically, […]

    Three Rules To Help Make The Promise Of A Successful IUL Come True

    {February 6th, 2023} by Kevin Nuber

    If you are in the IUL marketplace, then you hear it all the time—indexed universal life policies will never come true. The criticisms are usually the same. That the illustrations and projections are unrealistic and so unbelievable that they can’t possibly come true. They say caps and participation rates will be reduced and the client […]

    Broker Words—February 2023

    {February 6th, 2023} by Stephen Howard

    Dammit this one really hurts. It is my sad duty to report the passing of great friend and industry shaper Michel Levy Boudreaux. Michel died unexpectedly at her home in Harahan, LA, on Thursday, January 19, 2023. She is survived by her beloved husband, business partner and devoted caregiver Kevin K. Boudreaux. The couple recently […]

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