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Archive for March 2023


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  • Insurers Rush to Sweeten Income Options on Annuities as Rates Climb

    {March 29th, 2023} by Cyril Tuohy

    Since the beginning of the year, it’s been a better time to buy fixed-indexed annuities with guaranteed lifetime income, said Sheryl Moore, CEO of market researcher Wink. She added that 49.8% of fixed-indexed annuity buyers elect a guaranteed lifetime withdrawal benefit. Moore, publisher of Wink’s Sales & Market Report, counts at least 13 insurers that have raised the […]

    In case you missed it

    {March 28th, 2023} by Wink's Intel Pros

    This quarter and this year are the greatest MYGA sales have been since Wink began tracking sales of the products in 2015! Click HERE to view Wink’s latest news release. This was a record-setting quarter for indexed annuity sales, topping the prior 3rd quarter 2022 record by 3.47%. This was also a record-setting year for […]

    I’m just mad! Indexed annuities don’t need this kind of press!

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

    Not to beat a dead horse here, but I am still reading about the news of that guy who got slammed by the SEC for his indexed annuity sales. First comment: Yesterday he was an “adviser” and today he is an “advisor.” Let’s talk about the differences. Second comment: “…[the advisor would] use the proceeds […]

    How one can “help people plan for retirement” when you are spreading misinformation about annuities?

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

    Have I ever mentioned how I resent SmartAsset? You know- the lead generation company that distributes “educational articles” about annuities, but gets their “education” wrong nearly every single time… This morning, here they are in my Morning Brew newsletter again! How can I win against companies like this?!? “SmartAsset raised $161m to help people plan for retirement.” I […]

    New Lincoln Financial Group Study Finds More Women Are Setting Financial Goals and Could Benefit From a Financial Wellness Mindset

    {March 28th, 2023} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–A new study finds women are taking steps in the right direction toward strengthening their financial future and could benefit from a comprehensive look at their overall financial wellness. Lincoln Financial Group’s (NYSE: LNC) Consumer Sentiment Tracker found that 72% of women report setting financial goals this year, with women identifying a few top areas […]

    Munich Re Life US and Paperless Solutions Group Announce Risk Assessment Solution that Transforms Life Insurance Underwriting

    {March 28th, 2023} by Munich Re

    NEW YORK–(BUSINESS WIRE)–Munich Re Life US (Munich Re) today announced a new combined risk assessment and e-application solution with insurtech leader Paperless Solutions Group (PSG), an MIB business, that allows life insurance carriers to underwrite new policies faster and with greater accuracy. The solution combines the risk assessment and instant decisioning power of Munich Re’s alitheia with the […]

    FDIC should not sell Silicon Valley Bank assets to Apollo, as long as Apollo’s Athene remains a creditor to the bank’s parent company, says UFCW International Union

    {March 28th, 2023} by UFCW International Union

    WASHINGTON–(BUSINESS WIRE)–United Food and Commercial Workers International Union is calling on the Federal Deposit Insurance Corporation not to sell Silicon Valley Bank assets to Apollo Global Management [NYSE: APO], as long as Apollo’s insurance subsidiary Athene remains a creditor to SVB Financial Group, the bank holding company. “We think it’s bad policy for FDIC to […]

    Corebridge Financial Partners with Market Synergy Group to Launch Power Select Advisory for Registered Investment Advisors

    {March 28th, 2023} by Corebridge Financial, Inc

    HOUSTON–(BUSINESS WIRE)–Corebridge Financial today announced the expansion of its partnership with Market Synergy Group (MSG), one of the nation’s largest networks of independent marketing organizations, to include the launch of Power Select AdvisorySM, a fixed index annuity created for registered investment advisors (RIAs). “We are excited to build on our long-standing partnership with Market Synergy […]

    U.S. Remains the Leading Investment Destination for International Investors

    {March 28th, 2023} by HSBC

    NEW YORK–(BUSINESS WIRE)–New research commissioned by HSBC reveals how international investors are making both personal finance and investing decisions as they cross borders and move overseasꟷthe U.S. is the leading destination among international investors in our survey, with 27% investing there, followed by 20% investing in the UK. From an investing perspective, study findings showed: […]

    NexAnnuity’s Insurance Subsidiary Assigned a Financial Strength Rating of B+ by AM Best

    {March 28th, 2023} by NexAnnuity

    DALLAS, March 21, 2023 /PRNewswire/ — NexAnnuity announced today that its insurance subsidiary, The Ohio State Life Insurance Company (“OSL”), has been assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of “bbb-” (Good) by AM Best. The rating assignments reflect OSL’s balance sheet strength, which AM Best assessed as adequate, as […]

    Northwestern Mutual’s Park Avenue Capital Acquires Barron’s Top 1,200 firm, Wunder Financial

    {March 28th, 2023} by Park Avenue Capital Corp

    Transaction is the largest advisor practice acquisition in the history of Northwestern Mutual NEW YORK, March 22, 2023 /PRNewswire/ — Ben Feldman and Peter Tiboris, wealth management advisors and founding partners of Northwestern Mutual’s Private Client Group Park Avenue Capital, have acquired Westport, Conn.-based Wunder Financial, a Barron’s Top 1,200 firm. “As a part of our continuity and succession planning, I’m delighted to […]

    SEC Accuses Financial Advisor of Making Millions in Deceptive Annuity Sales

    {March 28th, 2023} by Kenneth Corbin

    The Securities and Exchange Commission is accusing a registered investment advisor of breaching his fiduciary duty and deceptively generating millions in commissions from annuity sales. The SEC’s complaint alleges that for eight years advisor Jeffrey Cutter “engaged in a pattern of deception designed to steer his investment advisory clients to certain insurance products over other […]

    Rising Rates Pushing Sales of Deferred Annuities Higher

    {March 28th, 2023} by dkorth@finsum.com

    While rising interest rates might make things difficult for life insurance company risk managers, they were great for individual fixed annuity sales in the fourth quarter of 2022. According to new issuer survey data from Wink, overall sales of all types of deferred contracts increased 30% between the fourth quarter of 2021 and the fourth […]

    Modern Life announces distribution partnership with Symetra

    {March 28th, 2023} by InsuranceNewsNet Press Release

    NEW YORK, NY – March 21, 2023 – Modern Life, a tech-enabled insurance brokerage for advisors, today announced a new distribution partnership with Symetra Life Insurance Company that combines Modern Life’s end-to-end distribution technology with Symetra’s leading suite of life insurance products and underwriting capabilities as both organizations continue to advance their commitment to empower advisors […]

    Washington State: Insurers need to notify policyholders before rate hikes

    {March 28th, 2023} by John Hilton

    A new regulation proposed by Washington state Insurance Commissioner Mike Kreidler requires insurance companies to explain premium increases to their policyholders in “language they can understand.” But an industry trade group says the effort contributes to the bureaucratic delays that threaten consumer access to insurance coverage. Washington regulators say the number one complaint they hear […]

    Insurance industry reps leery of NAIC big data, AI questions

    {March 28th, 2023} by John Hilton

    A state insurance industry regulator group intent on questioning insurers on their use of models and big data managed to unite industry and consumer representatives in opposition Wednesday. In December, the Big Data and Artificial Intelligence Working Group exposed its draft Model and Data Regulatory Questions. The 10-page document include two sections of questions on […]

    Private equity insurance investors facing higher capital charges for CLOs

    {March 28th, 2023} by John Hilton

    State insurance regulators held a robust discussion Thursday on an interim proposal to increase capital charges for private equity backed insurers who invest in riskier collateralized loan obligations (CLOs). They found no agreement and ended the spring meeting session seemingly no closer to a decision. The Risk-Based Capital Investment Risk and Evaluation Working Group devoted […]

    State insurance regulators pursue more data on industry use of AI

    {March 28th, 2023} by John Hilton

    State insurance regulators are finishing up an industry survey to learn how home insurers are using artificial intelligence and machine learning. Next up, a similar survey of life insurers will be sent to 192 companies on Friday, March 31, said Kevin Gaffney, commissioner of the Vermont Department of Financial Regulation. Gaffney reported updates on the […]

    Rethinking a 2023 rebalance as rate hikes remain

    {March 28th, 2023} by David Byrnes

    ­­­­­­­­­­­­­The Federal Reserve continues its effort to tame high inflation, and another announcement due later this month will likely deliver another rate hike. Many investors watched the bond markets destabilize in 2022 and remain understandably concerned. Cleveland Fed President Loretta Mester’s comments that January’s hike should have been higher, indicates are not out of the […]

    Commentary: Why Monte Carlo simulations can sell retirement investors short

    {March 28th, 2023} by David Macchia

    Important events sometimes occur with too little notice. Occasionally, even a monumental development can escape adequate attention. An example of this occurred on Jan. 9. That day saw a historic development in the field of retirement in planning. Click HERE to read the full story via INN

    Why MYGAs are enjoying a renaissance

    {March 28th, 2023} by Susan Rupe

    It’s the golden age of MYGAs, one annuity expert declared, as sales of multi-year guaranteed annuities more than doubled between 2021 and 2022. A recent webinar by the National Association for Fixed Annuities delved into the reasons why MYGAs are reaping the benefits of what another expert called “a perfect storm” that combined a record-breaking drop in […]

    Payout grids for independent broker-dealers

    {March 28th, 2023} by InvestmentNews

    See how much brokers earn on sales of various products at 43 independent broker-dealers, according to data the firms provided to InvestmentNews Research.   Click HERE to view.

    Life/Annuity insurers well-positioned for 2023: AM Best

    {March 28th, 2023} by Matt Sheehan

    Analysts at AM Best have reported that the US Life/Annuity (L/A) insurance segment remains well-positioned to meet challenges in 2023, supported by high levels of risk-based capitalization, strong liquidity profiles, and robust sales in annuity products. Despite this strong position, the rating agency AM Best acknowledged that there was some volatility for the L/A space […]

    Wink, Inc. ranks National Life Group #1 in indexed life sales for 8 quarters in a row

    {March 28th, 2023} by National Life Group

    Wink, Inc., an industry analyzer, named National Life Group #1 in indexed life sales for the past eight quarters, totaling all of 2021 and 2022. Announced in a March 7 news release, Wink states: “Items of interest in the indexed life market included National Life Group retaining their #1 ranking in indexed life sales, with a […]

    Annuity? Never

    {March 28th, 2023} by David Macchia

    Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. If you work with boomer-generation women, are you properly responding to their need for lifetime income? Consider this parable. Not five minutes into the meeting with Sheryl, Bert, a financial planner, appeared to fully understand her twin priorities: protect Sheryl’s […]

    Risk Strategies Acquires Parady Financial Group

    {March 28th, 2023} by Risk Strategies

    Adds to specialty capabilities of National Financial and Wealth Services Practice BOSTON, March 20, 2023 — Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced its acquisition of Parady Financial Group, Inc., a Florida-based firm focused on helping retirees achieve and maintain financial security in retirement. The acquisition included […]

    Are annuities an investment? A new SEC lawsuit against a financial advisor argues yes

    {March 28th, 2023} by Dan Shaw

    Amid a historic boom for annuities, regulators are signaling to financial advisors that the pension-like products are just like any other investment when it comes to disclosing conflicts of interest. The Securities and Exchange Commission filed a lawsuit on March 17 against Jeffrey Cutter, a registered investment advisor in Falmouth, Massachusetts, and his firm, Cutter […]

    Powell Stresses Commitment to Cooling Prices as Fed Hikes Rates

    {March 28th, 2023} by Catarina Saraiva

    The Federal Reserve raised interest rates at a ninth straight meeting and indicated there may be more hikes to come in a clear sign it’s confident that its bid to quell inflation won’t deepen a nascent banking crisis. The Federal Open Market Committee voted unanimously to increase its target for the federal funds rate by […]

    Securian Financial subsidiary acquires employee communication and engagement platform

    {March 28th, 2023} by Securian Financial

    ST. PAUL, Minn.–(BUSINESS WIRE)–Securian Financial is continuing to strengthen its position in the employee benefits market. The company announced today that its Houston, Texas-based benefits administration subsidiary, Empyrean Benefit Solutions, has acquired Enspire, an employee communication and engagement platform headquartered in Austin, Texas. Through the acquisition, Empyrean adds an expanded people-centric dimension to its innovative benefits administration […]

    3 Compliance Failures of Newly Registered Advisors: SEC

    {March 28th, 2023} by Melanie Waddell

    The Securities and Exchange Commission warned Monday that newly registered advisors’ compliance policies aren’t up to snuff, including their marketing practices, which appear to contain false or misleading information. In a just-released risk alert, the SEC’s Office of Examinations cites three deficiencies in newly registered advisors’ compliance practices. Click HERE to read the full story […]

    Wrap Fees on Indexed Annuities Are ‘Ridiculous,’ Stan the Annuity Man Say

    {March 28th, 2023} by Jane Wollman Rusoff

    Advisors are “being forced” to offer annuities “because all the baby boomers turning 65 need income or principal protection, or both. Any advisor who doesn’t at least discuss the positives of annuities with … clients is kidding themself,” argues Stan Haithcock, aka “Stan the Annuity Man,” in an interview with ThinkAdvisor. Licensed in every state, […]

    Advisor Charged With Defrauding Clients in Annuity Switching Scheme

    {March 28th, 2023} by Jeff Berman

    The Securities and Exchange Commission charged an advisor in Falmouth, Massachusetts, and his firm with defrauding clients as part of an annuity replacement scheme that caused the clients to incur a total of $640,000 in surrender charges between 2018 and 2022. In a complaint filed Friday in U.S. District Court for the District of Massachusetts, […]

    Life and Annuity Stocks Weather Credit Suisse Storm

    {March 28th, 2023} by Allison Bell

    Wall Street warmed up to life and annuity issuers this week, in spite of Swiss regulators’ move to force UBS to acquire Credit Suisse. The median share price of 16 large, publicly traded U.S. life and annuity issuers has fallen 21% in the past month, to $44.43. Click HERE to read the full story via […]

    Insurers and Brokers See Pay Differently: Survey

    {March 28th, 2023} by Allison Bell

    North American life insurers are happier with their commission levels and processes than brokers are. Forrester has reported that finding in a summary of results from a survey of about 200 North American life insurance carriers, brokers and advisors that was commissioned by Equisoft, a financial services software firm. Click HERE to read the full […]

    Volatility Shows Why Annuities Matter: Corebridge’s Pinsky

    {March 28th, 2023} by Allison Bell

    Bryan Pinsky may be helping hundreds of thousands of U.S. retirement savers sleep a little better at night. Pinsky is now the president of individual retirement at Corebridge Financial, the Houston-based company that owns American General, VALIC and other companies that once operated under the AIG Life & Retirement name. Click HERE to read the […]

    Advisor Tells Regulators That Life Illustrations Are Just Too Simple

    {March 28th, 2023} by Allison Bell

    The current illustrations for all kinds of universal life insurance policies are just too simple, and they fail to convey how much all kinds of changes could affect policy performance, a life insurance veteran told insurance regulators Tuesday. Richard Weber, the principal at The Ethical Edge, a life insurance advisory firm in Pleasant Hill, California, […]

    Wink, Inc. Releases 4th Quarter, 2022 Deferred Annuity Sales Results

    {March 21st, 2023} by Wink's Press Release

    — FOR IMMEDIATE DISTRIBUTION —   NEWS RELEASE   VARIABLE ANNUITY SALES SLUMP TO LOWEST LEVEL IN 25+ YEARS   Wink, Inc. Releases 4th Quarter, 2022 Deferred Annuity Sales Results Des Moines, Iowa. March 16th, 2023– Wink’s Sales & Market Report, the insurance industry’s #1 resource for annuity sales data since 1997, released its 102nd […]


    {March 21st, 2023} by Sheryl J. Moore

    Deferred Annuity Sales Total 4Q2022 deferred annuity sales were $79,309 million, compared with sales of $60,924 million for the fourth quarter of 2021. Fourth quarter deferred annuity sales were up more than 9% when compared to the previous quarter and up more than 30% when compared to the same period last year.     Non-Variable […]

    Annuity Primary Product Objective?

    {March 21st, 2023} by Sheryl J. Moore

    I am thinking of taking every annuity in the AnnuitySpecs database, and assigning a “Primary Product Objective” to it. This is because of the industry’s recent trend of classifying annuities as being either for “accumulation” or “income.” That said, I do not want to overlook anything. So, I need to hear from my marketers!! Do […]

    VA sales slump to lowest level in 25+ years, Wink Inc. reports

    {March 21st, 2023} by Press Release

    Wink Inc. reported deferred annuity sales in both the fourth quarter, and in all of 2022, were the greatest they have been since Wink began tracking sales of the product in 2015. It is likely the greatest sales have ever been for deferred annuities. Total fourth quarter sales for all deferred annuities were $79.3 billion; sales were […]

    MassMutual’s Stable Voyage Was Quarter’s Top Fixed-Rate Annuity

    {March 21st, 2023} by Cyril Tuohy

    The product helped make the Springfield, Mass.-based carrier the top fixed-rate annuity seller over the period with a market share of 16%, Wink’s Sales & Market Report said. Athene was second, followed by New York Life, Corebridge Financial and Brighthouse Financial, Wink reported in its quarterly survey of the industry… Click HERE to read Wink’s news release.  Quarterly and yearly sales of […]

    Rising Rates Push Sales of Individual Deferred Annuities Higher: Wink

    {March 21st, 2023} by Allison Bell

    Soaring interest rates might complicate the lives of life insurance company risk managers, but they were great for individual fixed annuity sales in the fourth quarter of 2022. Overall sales of all types of deferred contracts increased 30% between the fourth quarter of 2021 and the latest quarter, to $79 billion, according to new issuer […]

    Nationwide and Fidelity Investments® establish new distribution relationship

    {March 21st, 2023} by Nationwide and Fidelity Investments

    Nationwide and Fidelity Investments® are launching a new product for those seeking stability in volatile markets while providing Nationwide access to Fidelity’s network of financial professionals, available through the Fidelity Insurance Network.  With approximately 3,400 financial professionals, Fidelity serves its customers through 12 regional sites across the globe and more than 200 Investor Centers. The company has […]

    Principal® Survey Identifies Leading Disruptors of Retirement Industry By 2030

    {March 21st, 2023} by Principal

    DES MOINES, Iowa–(BUSINESS WIRE)–A new survey from Principal Financial Group® identifies the leading disruptors to the retirement industry that employers and financial professionals believe will reshape plans, services, and solutions by 2030. An aging workforce, Generation Z, the growing demand for personalized investment advice, and financial wellness are top of mind for more than 250 plan sponsors […]

    Best’s Commentary: SVB Collapse Highlights Critical Lessons for Insurance Industry

    {March 21st, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Despite U.S. insurance companies’ minimal exposure to bonds issued by the now-shuttered Silicon Valley Bank (SVB), the failure highlights for insurers the importance of managing enterprise, asset-liability and liquidity risks, according to an AM Best commentary. The Best’s Commentary, “SVB Collapse Highlights Critical Lessons for the Insurance Industry,” states that just eight U.S. insurers have bond […]

    New York Life Announces Strong 2022 Financial Results Underscoring Company’s Robust Strength and Stability

    {March 21st, 2023} by New York Life

    NEW YORK–(BUSINESS WIRE)–New York Life, America’s largest1 mutual life insurer, today announced strong financial results for 2022 that underscore the power of the company’s differentiated business model and its significant contributions to New York Life’s enduring financial strength. The company’s top-line growth was driven by a new record in annuity sales, making New York Life the […]

    Best’s Special Report: Credit Rating Upgrades Exceed Downgrades for U.S. Life/Health Insurers in 2022; Under Review Ratings Fall

    {March 21st, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Credit Rating (rating) upgrades and downgrades remained relatively flat in 2022 in the U.S. life/health insurance industry as compared with the previous year, with a slight increase in upgrades, However, according to a new AM Best special report, the number of ratings under review dropped significantly.  The Best’s Special Report, titled, “Rating Actions Decline, Upgrades […]

    American Equity Announces $200 Million Accelerated Share Repurchase Agreement

    {March 21st, 2023} by American Equity Investment Life Holding Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (“American Equity”) (NYSE: AEL), a leading issuer of fixed index annuities (FIAs), today announced that it has entered into an accelerated share repurchase agreement (“ASR”) with JP Morgan to repurchase $200 million of American Equity common stock. The accelerated share repurchase reflects the Company’s continued […]

    Northwestern Mutual Recognized by Forbes as one of America’s Best Large Employers

    {March 21st, 2023} by Northwestern Mutual

    MILWAUKEE, March 15, 2023 /PRNewswire/ — Northwestern Mutual, a leading financial services company, announced today that it was selected by Forbes as one of America’s Best Large Employers. This honor – the latest in a series of awards and accolades recognizing Northwestern Mutual’s exceptional culture and workplace – was based on a national survey of employees who rated companies on salary, […]

    In Force Data Solutions from MIB Provide Unique Insights to the Life Insurance Industry

    {March 21st, 2023} by MIB Group Holdings

    BRAINTREE, Mass., March 16, 2023 /PRNewswire/ — MIB, the life insurance industry’s most trusted and secure partner for data-driven insights and digital services announced the launch of a new suite of solutions that leverage a unique database consisting of in force and pending application data as well as terminated policy data to provide new critical insights to the […]

    How Tech Is Breathing New Life Into Life Insurance

    {March 21st, 2023} by Ron Gura

    The life insurance industry offers more than just policies: Carriers also strive to provide their customers with comfort, stability, and peace of mind. When someone buys life insurance, they do so trusting that the insurer will be present and involved in fulfilling the promise of the policy by distributing the money responsibly. Click HERE to […]

    The Top 12 Annuity Issuers of 2022: NAIC

    {March 21st, 2023} by Allison Bell

    U.S. insurers generated more than $380 billion in annuity payments of all kinds in 2022, up from $325 billion in 2021, according to the National Association of Insurance Commissioners. For a look at the top 12 writers for 2022, see the gallery above. The Data The NAIC is a group for state insurance regulators. It […]

    Derivatives Collateral Calls Could Affect Life and Annuity Issuers: Moody’s

    {March 21st, 2023} by Allison Bell

    Hedging programs that usually protect life insurers against big changes in stock prices and interest rates could sometimes add stress, by forcing the insurers to add cash, according to analysts at Moody’s Investors Service. Manoj Jethani and other Moody’s analysts talk about the concern — calls to add collateral for derivatives arrangements — in a […]

    Big U.S. Life Insurers Have $1.7B Invested in Banks in News: Wells Fargo Analysts

    {March 21st, 2023} by Allison Bell

    Seventeen big U.S. life insurers have a total of about $650 million of their $162 billion in statutory surplus invested in the bonds of Silicon Valley Bank and Signature Bank of New York, and about $1 billion invested in the bonds of three other regional regional banks that are facing investor skepticism, according to Elyse […]

    Some Advisors Tell Clients To Limit Bank Deposits To $250K Per Bank


    With the recent bank failures, what are advisors telling clients to do about their cash accounts? Vance Barse, wealth strategist and founder of Your Dedicated Fiduciary in San Diego, said his phone has been ringing off the hook with clients who have two basic questions. Click HERE to read the full story via Financial Advisor

    Annuities Have Never Been More Attractive, Athene Exec Says

    {March 21st, 2023} by Jacqueline Sergeant

    Consumers are flocking to annuities. And that’s expected to continue as recession fears linger, according to an executive at Athene, an insurance company based in West Des Moines, Iowa. “People are a little fearful of keeping their money in equities and having all that risk exposure, and buying annuities is absolutely a way to take […]

    UBS to Buy Credit Suisse in $3.2B Deal

    {March 21st, 2023} by Marion Halftermeyer, Eyk Henning, Jan-Henrik Förster & Dinesh Nair

    Editor’s note: This story has been updated to reflect the final price of the UBS-Credit Suisse transaction, which is roughly $1.3 billion higher than what was initially reported Sunday by Bloomberg and other sources.] UBS Group AG agreed to buy Credit Suisse Group AG in a historic, government-brokered deal aimed at containing a crisis of […]

    What If the Index in an Indexed Annuity Goes Away?

    {March 21st, 2023} by Allison Bell

    For life and annuity advisors, the current financial storm raises a new question: What if U.S. life insurers continue to do well, but the firms that produce some of the indexes inside indexed life and annuity products go away? Credit Suisse, for example, has been producing the Credit Suisse Momentum Index, a global, multi-asset index […]

    Enhacing their GLWBs!

    {March 21st, 2023} by Sheryl J. Moore

    Nice to see insurance companies enhancing their Guaranteed Lifetime Withdrawal Benefits (GLWBs) on their indexed annuities! The following companies have all made improvement to their offerings, since the first of the year (most recent changes, appearing at top): – PRUCO LIFE INS CO, – Protective Life, – Integrity Life Insurance Co, – Jackson, – Allianz Life – Midland National Life Insurance […]


    {March 21st, 2023} by Sheryl J. Moore

    For nearly all lines of business, the average annuity premium is smaller, but the number of apps received is larger. More, smaller annuity cases were submitted in 4Q2022.   Join in the conversation over on LinkedIn!  -sjm

    Relationships matter.

    {March 21st, 2023} by Sheryl J. Moore

    I won’t forget the day that changed my career, while I was working for my first home office. I worked for the #1 seller of indexed life insurance and indexed annuities, in product development. A had just received a directive from the top: I needed to assist other insurance companies in developing indexed insurance products. […]

    Make Sure Everyone Understands Life Insurance: Jomil Guerrero

    {March 21st, 2023} by Allison Bell

    New York Life Insurance Company has picked Jomil Guerrero to help the company better connect to a wider market of customers. Guerrero, the financial services giant’s new chief diversity officer, will influence New York Life’s employee benefits, investment and marketing strategies. Part of her job will involve supporting agents’ and advisors’ efforts to reach more […]


    {March 21st, 2023} by NAIFA CA

    NAIFA’s California chapter is holding its annual Legislative Day in Sacramento on March 29. The event will feature visits with lawmakers by NAIFA-CA members, during which they will discuss SB 263, a legislative proposal that in its current form would harm the ability of insurance agents and brokers to serve the public.  SB 263 is simply unworkable and it […]

    ICYMI: Finseca’s Cadin Corrects Record on Problematic California Proposal

    {March 21st, 2023} by Marc Cadin

    We were disappointed to read the story titled, California Is Shaping Law That May Change ‘Best Interest’ Landscape. Unfortunately, the piece provides a one-sided and myopic review of a California legislative proposal that, despite the commentary from the reporting, could be very problematic for consumers if left unamended. Click HERE to read the full story via Medium

    Life insurers facing unrealized losses due to pace of interest rate rises: Moody’s

    {March 21st, 2023} by Jack Willard

    A report from Moody’s Investors Service has suggested that while the increase in interest rates within the last year has been positive for life insurers in Europe, the fast pace of the increase means that a majority of insurers are now sitting on significant unrealized losses in their fixed income portfolios. In the report, Moody’s […]

    Conning: Growing Demand for In-Plan Annuities Creates Opportunity for Insurers

    {March 21st, 2023} by Conning

    Conning releases study looking into the current state of income (in)security for Americans and the U.S. insurance industry’s opportunity to supplement retiree income gaps through annuities. HARTFORD, Conn., March 17, 2023 /PRNewswire/ — A significant trend in the U.S. retirement system over the past four decades is that private sector employees have become less likely to be […]

    EquiTrust’s New Product Launch Powered by Sapiens’ Game-Changing Technology

    {March 21st, 2023} by Sapiens International Corporation

    Utilizing Sapiens IllustrationPro and ApplicationPro, EquiTrust launches its new innovative product and process for Customer Acquisition in under 6 months RALEIGH, N.C., March 20, 2023 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced with EquiTrust, a leading North American life and health insurance company, the launch of their state-of-the-art […]

    SEC charges advisor with failing to disclose annuity commissions

    {March 21st, 2023} by Mark Schoeff Jr.

    The SEC has charged an investment advisor with failing to adequately disclose commissions and other payments he earned for recommending annuity purchases, a move that could signal stepped-up scrutiny of insurance products. Click HERE to read the full story via InvestmentNews

    AM Best Affirms Credit Ratings of The Penn Mutual Life Insurance Company and Its Subsidiaries

    {March 20th, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa-” (Superior) of The Penn Mutual Life Insurance Company (Penn Mutual Life) (Horsham, PA) and its wholly owned subsidiaries, The Penn Insurance and Annuity Company (Wilmington, DE), Vantis Life Insurance Company (Windsor, CT) […]

    Credit Suisse Ignites Global Market Rout as Banking Fears Return

    {March 20th, 2023} by Julien Ponthus and Tasos Vossos

    All it took was a few tough words from Credit Suisse Group AG’s biggest shareholder on Wednesday to spark a selloff that quickly spread across global markets. Asked whether Saudi National Bank was open to further cash injections, Chairman Ammar Al Khudairy said “absolutely not.” It was a reminder about the precarious situation facing the […]

    Getting to know our Director of Awesomeness

    {March 19th, 2023} by Wink's Intel Pros

    Jamie, Director of Awesomeness, is the person you’ll likely hear from when contacting Wink. She and her husband ran seven miles together on their first date- who does that?! Whether she is with her fellow marathoners or running circles around her Wink colleagues, Jamie stays active.  She is responsible for all customer support, sales, social […]

    In case you missed it

    {March 14th, 2023} by Sheryl J. Moore

    Life insurance sales results from 4Q2022… LINE OF BUSINESS: 4Q Sales, 2022 Sales – % Chng/Qtr, % Chng/Yr, % Chnge/2021 Non-Variable Universal Life: $861.59M, $3.16B – 12.02%, 0.44%, 5.97% >Universal Life: $109.62M, $425.32M – 11.42%, -21.71%, -17.97% Indexed Life: $752.29M, $2.73B – 12.16%, 4.77%, 10.95% Whole Life: $1.24B, $4.59B – 12.78%, -17.61%, -5.70%   Stay […]

    Indexed universal life drives strong 2022 sales, Wink reports

    {March 14th, 2023} by Staff Reports

    Consumers love indexed universal life, a love affair that remained strong in the fourth quarter 2022, according to Wink’s Sales & Market Report. Indexed life sales for the fourth quarter were $752.2 million, up 12.1% compared with the previous quarter, and up 4.7% compared to the same period last year. Indexed life sales include both […]

    Fixed Universal Life Needs Innovation as Sales Fall Again, Wink Says

    {March 14th, 2023} by Cyril Tuohy

    Fourth-quarter sales of fixed universal life insurance tumbled 22% from a year earlier to $109.6 million, according to Wink. Sheryl Moore, CEO of Wink, said in a statement that sales of the product are probably at their lowest since it was introduced almost 45 years ago, adding that “there definitely needs to be some new innovation […]

    How Good Are Top 10 Lists of Insurers? We Took a Hard Look at One.

    {March 14th, 2023} by Cyril Tuohy

    Using only the A.M. Best and interest rate criteria on which Insider Monkey relies, there are 68 companies that should make the list, according to Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report. Click HERE to read the full story via Life Annuity Specialist

    National Western Life Group, Inc. Announces 2022 Full Year and Fourth Quarter Earnings

    {March 14th, 2023} by National Western Life Group, Inc.

    AUSTIN, Texas, March 10, 2023 /PRNewswire/ — Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today 2022 consolidated net earnings of $101.1 million, or $28.60 per diluted Class A common share, compared with consolidated net earnings of $180.7 million, or $51.10 per diluted Class A common share, for 2021. The Company’s book […]

    Ameritas earns 16th BenchmarkPortal Center of Excellence certification

    {March 14th, 2023} by Ameritas

    LINCOLN, Neb., March 9, 2023 /PRNewswire/ — For the 16th consecutive year, the Ameritas group division earned BenchmarkPortal’s Center of Excellence certification. It is one of the world’s most prestigious awards in the customer service and support industry. To earn it, contact centers must meet or surpass strict standards each year. Ameritas is one of only a handful […]

    Lincoln Financial Group Further Enhances Industry-Leading MoneyGuard® Suite

    {March 14th, 2023} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) continues to strengthen its MoneyGuard® suite with the introduction of real-time underwriting capabilities and the expansion of Lincoln MoneyGuard Market Advantage® into California. Lincoln MoneyGuard Market Advantage® is a variable universal life policy with riders that reimburse for long-term care expenses; issued by the Lincoln National Life Insurance Company, Fort Wayne, IN. A Lincoln Financial […]

    Pacific Life and Franklin Templeton Collaborate on Lifetime Income Solutions

    {March 14th, 2023} by Pacific Life and Franklin Templeton

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life and Franklin Templeton have announced a collaboration to jointly tackle the need for lifetime income for defined contribution plan participants through personalization and insurance solutions. With the recent passage of the SECURE Act 2.0 and continued focus on supportive regulatory legislation, plan sponsors have shown an increased interest in offering […]

    Jackson Receives Highest Customer Service Ranking in Financial Industry for 11th Consecutive Year

    {March 14th, 2023} by Jackson National Life Insurance Company

    Recognized with Four Awards from SQM for Excellence in Contact Center Service in 2022, Including “Call Center of the Year” Finalist March 09, 2023 04:05 PM Eastern Standard Time LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company (Jackson®), the main operating subsidiary of Jackson Financial Inc.1 (NYSE: JXN), was recognized with four awards from Service Quality Measurement Group, Inc. (SQM)2 for excellence in […]

    Best’s Market Segment Report: US Life/Annuity Insurers Flex Muscles in 2022, Remain Well-Positioned for 2023 Challenges

    {March 14th, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Despite equity market volatility, inflationary pressure and rapid interest rate hikes, U.S. life insurance and annuity writers posted a 17% increase in net income to $31.7 billion through third-quarter 2022, as compared with the same prior year period, driven mainly by a 7% rise in premium and annuity considerations, according to a new AM […]

    Pacific Life Named One of World’s Most Ethical Companies for Sixth Consecutive Year

    {March 14th, 2023} by Pacific Life

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life has been named one of the 2023 World’s Most Ethical Companies® by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. Pacific Life was evaluated on five categories, including its ethics and compliance program; culture of ethics; environmental and societal impact; corporate governance; […]

    Regulators Look at Potential Bias in Life-Insurance Algorithms

    {March 14th, 2023} by Leslie Scism

    State regulators are pushing back on U.S. life insurers’ use of data science to speed up cumbersome application processes, citing concerns that artificial intelligence could unfairly discriminate against minorities. Colorado’s Division of Insurance has begun crafting regulations under a new state law restricting insurers’ use of algorithms, predictive models and the information fed into them […]

    NAIC Life and Annuities (A) Committee adopts amendments to Actuarial Guideline 49-A

    {March 14th, 2023} by Eversheds Sutherland (US) LLP

    On February 24th, the NAIC Life Insurance and Annuity (A) Committee (A Committee) adopted amendments to Actuarial Guideline (AG) 49-A to address a concern raised by state insurance regulators regarding the use of illustrations for indexed universal life insurance (IUL) policies with uncapped volatility-controlled indexes that allow for crediting fixed bonuses under the policies. Insurer […]

    Annuities Can Help Clients Fight Inflation

    {March 14th, 2023} by John Stevenson

    Billowing inflation has hit most of us hard over the last year. Surging prices for essential products like energy, food, and gasoline have emptied our bank accounts and put many dreams of homeownership and career advancement on hold. Click HERE to read the full story via Think Advisor

    Biden Hopes to Tax ‘Frozen Cash Value’ Life Contracts

    {March 14th, 2023} by Allison Bell

    The administration of President Joe Biden hopes to impose federal income, estate and gift taxes on the “frozen cash value” inside some wealthy families’ life insurance arrangements. The U.S. Treasury Department described the new proposal Thursday in its “Greenbook,” or description, of the tax provisions in the administration’s 2024 budget proposal. Click HERE to read the full […]

    Income Annuity Shoppers Might Be Splitting: Cannex

    {March 14th, 2023} by Allison Bell

    U.S. consumers seemed to be looking for less income from immediate income annuities in the fourth quarter of 2022, and more income from deferred income annuities, according to Cannex Financial Exchanges. The Toronto-based data services firm uses its own income annuity search data to produce quarterly shopping activity statistics. Click HERE to read the full […]

    How Life and Annuity Issuers Could Get Silicon Valley Bank Flu

    {March 14th, 2023} by Allison Bell

    The failures of Silicon Valley Bank and Signature Bank of New York — two banks that began the year with solid credit ratings and good 2022 earnings — raise questions about whether other solid-looking financial services companies, such as life insurers, could be suffering from similar types of hard-to-detect problems. Life insurers have emphasized, over […]

    Indexed Life Sales Continue to Rise

    {March 14th, 2023} by Allison Bell

    Indexed life insurance policies continued to sell well in the fourth quarter, as sales of two other types of non-variable cash value life insurance dropped. Wink — a Des Moines, Iowa-based life and annuity market monitoring firm — published on Tuesday a new insurer survey report exploring U.S. individual life insurance sales trends. Click HERE […]

    NAILBA Charitable Foundation

    {March 14th, 2023} by Sheryl J. Moore

    I get to be a part of a really cool thing that the NAILBA CHARITABLE FOUNDATION does each year. **Our mission of the NAILBA Charitable Foundation is to encourage philanthropy and business, to work hand-in-hand, helping others who are at risk.** Since its beginning, the NAILBA Charitable Foundation has awarded over $3.5 million dollars in grants!! (And […]

    Ameriprise secures $18B of client assets from Comerica Bank

    {March 14th, 2023} by Victoria Zhuang

    Ameriprise Financial expects around $18 billion to move onto its balance sheet later this year under a new agreement to take over management of Comerica Bank’s broker-dealer client assets. Minneapolis-based Ameriprise announced Friday that it had been chosen by Dallas-based Comerica to provide investment services to roughly 100 Comerica financial advisors based in Texas, Michigan, […]

    Senior Solutions & Services Joins Integrity for Access to Innovative Agent and Consumer-Focused Platform

    {March 14th, 2023} by Integrity Marketing Group, LLC

    Senior Solutions & Services Joins Integrity for Access to Innovative Agent and Consumer-Focused Platform       Integrity’s best-in-class systems and technology will empower Senior Solutions & Services agents to meet Medicare coverage needs more effectively and efficiently   DALLAS – MARCH 8, 2023 – Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life […]

    Why investors need to add annuities to their portfolio mix

    {March 14th, 2023} by InvestmentNews

    Alfred Eskandar, president and COO of Salt Financial, joins InvestmentNews anchor Gregg Greenberg to talk about using annuity solutions to combat the longevity crisis, as well as Salt’s recent index projects with the Nasdaq. Click HERE to view view via InvestmentNews

    Advisors Excel Teams With Catchlight To Boost Organic Growth With AI-Driven Insights

    {March 14th, 2023} by Advisors Excel

    BOSTON & TOPEKA, Kan.–(BUSINESS WIRE)–To accelerate organic growth and create hyper-relevant engagement with prospective new clients, Advisors Excel, an industry-leading financial services company, will make Catchlight available to their advisors across the U.S. Advisors Excel’s advisors will use Catchlight’s data–driven insights and proprietary artificial intelligence to better understand and prioritize their leads. Catchlight distills up to 2,000 data […]

    2022 Was Good For Annuities; 2023 Stands To Be Better

    {March 14th, 2023} by Eric Rasmussen

    The annuity industry has two gusts of wind at its back going into 2023: a higher interest rate environment and the new opportunities provided by the SECURE Act. Click HERE to read the full story via Financial Advisor

    New York Life rockets to the top of the 2022 annuity sales charts

    {March 14th, 2023} by John Hilton

    New York Life emerged as the big winner in a record-setting year for annuity sales with more than $23 billion in sales, according to LIMRA.  The largest mutual insurer in the United States, New York Life claimed nearly a 7% market share and increased its annuity sales by 70% over 2020 – when it finished […]

    Wink, Inc. Releases Fourth Quarter, 2022 Life Sales Results

    {March 8th, 2023} by Wink's Press Release

    — FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE   ALL LIFE SALES UP, AS IUL STEALS THE SHOW! Wink, Inc. Releases Fourth Quarter, 2022 Life Sales Results Des Moines, Iowa. March 7, 2023– Wink, Inc. released the fourth quarter, 2022 life sales results in its 102nd edition of Wink’s Sales & Market Report. Wink’s Sales & Market […]


    {March 8th, 2023} by Sheryl J. Moore

    Non-Variable UL Sales for the fourth quarter of 2022 were $861 million, compared with sales of $857 million for the fourth quarter of 2021. Fourth quarter non-variable life sales were up more than 12% when compared to the previous quarter and up less than 1% as compared to the same period last year. Non-variable universal […]

    As Rates Rise, Innovation and Changes Sweep Through Annuities

    {March 8th, 2023} by Cyril Tuohy

    Higher rates aren’t the whole picture though, said Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report. They do generally mean better yields on general accounts from which carriers earn a profit. But she noted that you also have to consider the cost of options, such as on the S&P 500, that are used […]

    Why Consumers Resist Annuity Swaps Even as Old Rates Worsen

    {March 8th, 2023} by Cyril Tuohy

    The case to turn in their old products seems compelling: Investment yields have jumped a lot over the past year. Also, rates on their existing products have sunk to the near-minimum levels allowed, said Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report. Click HERE to read the full story via Life Annuity Specialist   […]

    Midwest Holding Schedules Conference Call to Review Results for Fourth Quarter and Full Year of 2022

    {March 8th, 2023} by Midwest Holding Inc

        LINCOLN, Neb., March 6, 2023 /PRNewswire/ — Midwest Holding Inc. (“Midwest”) (NASDAQ: MDWT) today announced plans to host a conference call to discuss its financial and operating results for the fourth quarter and full year of 2022 on Tuesday, March 28, 2023, at 8:30 a.m. Eastern Time. The Company also plans to post those results on the investor […]

    U.S. Life Application Activity for Younger Consumers Rises

    {March 8th, 2023} by Allison Bell

    U.S. individual life insurance application activity continued to increase in February, and activity growth for applicants under 30 was especially strong, according to new MIB Group survey data. The insurance data-sharing consortium saw the number of applications flowing through its application-checking systems increase 3.0% from the number recorded in February 2022. Click HERE to read […]

    More States Adopt Reg BI-Compatible Annuity Sales Standards

    {March 8th, 2023} by Allison Bell

    Georgia, Illinois and Tennessee have adopted an annuity sales standard update developed by the National Association of Insurance Commissioners. The states adopted revisions to the Suitability in Annuity Transactions through regulation changes. Click HERE to read the full story via ThinkAdvisor

    MassMutual Consumer Spending & Saving Index: Is Optimism Replacing Fear as Americans Navigate Today’s Economy?

    {March 8th, 2023} by MassMutual

    SPRINGFIELD, Mass.–(BUSINESS WIRE)–In contrast to last quarter, ongoing uncertainty about the trajectory of the U.S. economy has not dampened many Americans’ optimism about their financial futures despite rising interest rates, persistent inflation, and stock market volatility according to this quarter’s Consumer Spending & Saving Index from Massachusetts Mutual Life Insurance Company (MassMutual). Most notably: Americans are less concerned […]

    Symetra Wins Silver Stevie® Award for Sales & Customer Service

    {March 8th, 2023} by Symetra

    BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra has received a Silver Stevie® Award in the “Inside or Telesales Team of the Year” category in the 17th annual Stevie Awards for Sales & Customer Service. The Stevie Awards for Sales & Customer Service are the world’s top honors for customer service, contact center, business development and sales professionals. The 2023 winners […]

    AM Best Comments on Credit Ratings of Certain Group 1001 Insurance Holdings, LLC Subsidiaries Following Ransomware Attack

    {March 8th, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has commented that the Credit Ratings (ratings) of certain Group 1001 Insurance Holdings, LLC’s rated subsidiaries remain unchanged following the parent company’s disclosure that it sustained a cybersecurity attack that caused a network disruption and impacted certain systems. According to the company, the following subsidiaries experienced system interruptions but are now back […]

    What Annuity Issuers Are Saying About Cash and Capital Now

    {March 8th, 2023} by Allison Bell

    Some of the big U.S. annuity issuers say they’re trying to get higher returns from the capital spend, but they all say they have plenty of cash and capital. Annuity issuers made a point during recent conference calls with securities analysts of talking about their risk-based capital ratios (RBCs), or capitalization level indicators, and about […]

    Corebridge Financial Enhances Advanced Outcomes Annuity with Milliman FRM Structured Funds Sub-Advised by Capital Group

    {March 8th, 2023} by Corebridge Financial, Inc

    HOUSTON–(BUSINESS WIRE)–Corebridge Financial today announced that its Advanced Outcomes Annuity®, a variable annuity featuring structured outcome investments, now includes hedged equity funds managed by Milliman Financial Risk Management (Milliman FRM) and sub-advised by Capital Group, home of the American Funds®. “Our Advanced Outcomes Annuity helps financial professionals take action for their clients as they seek […]

    Only 2% of Americans Can Identify Financial Solutions With Tax Advantages, Despite One-Third Wanting to Prioritize These Investments

    {March 7th, 2023} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–As consumers focus on filing their taxes and spending those returns, a new study reveals a need for increased awareness around tax-efficient financial strategies. Lincoln Financial Group’s Consumer Sentiment Tracker reports that only 2% of Americans can correctly identify financial solutions with tax advantages, despite one in three saying they prioritize investments that would help […]

    Women & Income, online seminar project

    {March 7th, 2023} by Sheryl J. Moore

    Are you a female financial advisor that helps to address the unique challenges women face as they plan for long-term retirement security? My friend David Macchia is working on an online educational seminar project and could use your help. Please feel free to reach out to David, directly, if you are interested.

    Equitable Enhances Market Leading Buffered Annuity Suite

    {March 7th, 2023} by Equitable

    Introduces new investment features that help clients face a challenging market with confidence. First-of-its-kind investment feature continues the company’s track record of innovation February 28, 2023 Media Contacts: Abby Aylman Cohen (212) 314-2010 mediarelations@equitable.com NEW YORK – February 28, 2023 – Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today announced enhancements […]

    No Hibernation for Issuers of Index-Linked Variable Annuities and Index Universal Life

    {March 7th, 2023} by Carlton Fields, Ann Young Black, Jordan Luczaj

    After a blustery fall, the NAIC’s Life Actuarial (A) Task Force (LATF) adopted the following at its December 2022 meeting: Actuarial Guideline LIV – Nonforfeiture Requirements for Index-Linked Variable Annuity Products (ILVA AG 54), and Revisions to Actuarial Guideline XLIX-A – The Application of Life Illustrations Model Regulation to Policies with Index-Based Interest Sold on or […]

    2023 Global Insurance Symposium Announces Event Headliners

    {March 7th, 2023} by Global Insurance Symposium

    – April 18-20 event theme is “Thriving in a Changing World” – DES MOINES, Iowa, March 03, 2023 (GLOBE NEWSWIRE) — International leaders in insurance, technology and government will convene at the 2023 Global Insurance Symposium, to be held in Des Moines, Iowa, on April 18-20. The Symposium’s speakers and panelists will offer industry-shaping insights […]

    GLWB Economics: Are GLWBs Even A Good Thing?

    {March 7th, 2023} by Charlie Gipple

    This article is somewhat of a meshing of my last couple of monthly columns. In one article I discussed the economics and the “internal rates of return” by delaying your Social Security benefits. In another article I discussed indexed annuity GLWBs versus the old four percent rule. This article is bringing both concepts together—GLWBs and […]

    The Truth Behind How Annuity Companies Make Money

    {March 7th, 2023} by Kyle Tomko

    The insurance industry has long been considered a black box, shrouded in secrecy, with endless (negative) connotations around carriers being a scam or even a rip off. Let’s be honest, we’ve all had a bad experience with reporting a claim or dealing with outlandish hold times and or customer service. Worst part yet, this experience […]

    2023 Life Insurance Industry Trends

    {March 7th, 2023} by John Thornton

    To borrow from Bob Dylan, for life insurance carriers, brokerage general agencies (BGAs), brokers and agents, The times, they are a-changin. Based on the research and findings of leading business consulting groups, research firms, industry associations and insiders, the past few years have ushered in new industry dynamics reflected in many trends already underway in 2022 […]

    Annuity Issuer Parent Company Fights Ransomware Attack

    {March 7th, 2023} by Allison Bell

    Group 1001 is fighting back against ransomware attackers. The Zionsville, Indiana-based parent of Delaware Life, Clear Spring Life and other annuity issuers announced Wednesday that after discovering ransomware infiltration on Feb. 9, it called the FBI and has hired outside experts to help it investigate the attack. Click HERE to read the full story via […]

    Equitable Updates a RILA Family

    {March 7th, 2023} by Allison Bell

    Equitable has added some protection against market volatility to its Structured Capital Strategies Plus 21 and Structured Capital Strategies registered index-linked annuities. One of the new features, Loss Limiter, can keep a client from losing more than 5% or 10% of investment value due to a market downturn. Click HERE to read the full story […]

    New $400M Team to Invest in Insurance Company Debt

    {March 7th, 2023} by Allison Bell

    An asset manager is teaming up with a big annuity issuer to lend money to borrowers in the insurance industry. The asset manager, Hudson Structured Capital Management, will use $400 million from Security Benefit Life Insurance Company to start the effort, the HSCM Insurance Credit Strategy. Click HERE to read the full story via ThinkAdvisor

    Matt Berman Named President, Foresters Financial US and Canada

    {March 7th, 2023} by The Independent Order of Foresters

    TORONTO, March 1, 2023 /PRNewswire/ – Foresters Financial™ (Foresters), the fraternal life insurer that’s boldly redefining the life insurance industry through innovation, purpose and wellness, today announced the appointment of Matt Berman as President, Foresters Financial US and Canada, effective immediately. Previously, Mr. Berman held the position of President, Foresters Financial US. Earlier, he served as Chief Distribution Officer and President […]

    Kansas City Life Announces Fourth Quarter 2022 Results

    {March 7th, 2023} by Kansas City Life Insurance Company

    KANSAS CITY, Mo., March 6, 2023 /PRNewswire/ — Kansas City Life Insurance Company recorded a net loss of $17.3 million or $1.79 per share in the fourth quarter of 2022 compared to net income of $13.1 million or $1.36 per share in the fourth quarter of 2021.  Net loss totaled $16.2 million or $1.67 per share for the year ended December 31, 2022, compared to net income of $10.7 million or $1.11 per share […]

    Nationwide reports 2022 record sales and growth amid challenging conditions

    {March 7th, 2023} by Nationwide

    $57 billion in record sales; $1.4 billion in net operating income in 2022 Nearly $19 billion in claims and benefits paid to customers Maintaining S&P AAA level capital Planning for disciplined growth across financial services, commercial lines and personal lines in 2023 COLUMBUS, Ohio, March 2, 2023 /PRNewswire/ — Nationwide—one of the largest and most diversified insurance and financial services companies in […]

    Simplicity and Insurance Designers of America Merge to Offer an Unrivaled Suite of Services

    {March 7th, 2023} by Simplicity Group

    SUMMIT, N.J., March 2, 2023 /PRNewswire/ — Simplicity Group Holdings, Inc. (“Simplicity”) today announced that it has acquired Insurance Designers of America (“IDA”), a leading IMO, to offer an unrivaled suite of services. Together, Simplicity and IDA will offer its respective members a market-leading, tech-enabled distribution platform with an unrivalled suite of sales and marketing resources. “We […]

    C2P Enterprises Launches ‘A Woman’s Clarity’ Program, Invites Advisors to Special International Women’s Day Event

    {March 7th, 2023} by C2P Enterprises

    New program helps financial professionals engage female advisors, clients, and prospects through ongoing thought leadership and networking and a newly launched podcast series. CLEVELAND, March 2, 2023 /PRNewswire/ — C2P Enterprises, a holding company comprised of four distinct brands, each designed to simplify financial planning for advisors and their clients, announces the launch of their latest innovative program […]

    Group 1001 Insurance Units Resume Full Operations after Ransomware Attack

    {March 7th, 2023} by Group 1001

    INDIANAPOLIS, March 1, 2023 /PRNewswire/ — Group 1001, Inc. would like to provide an update to our stakeholders concerning recent system interruptions experienced by certain Group 1001 Insurance member companies, including Delaware Life Insurance Company, Delaware Life Insurance Company of New York, Clear Spring Life and Annuity Company, Clear Spring Property and Casualty Company, and our Clear Spring Health […]

    AM Best Revises Outlooks to Stable for American Life & Security Corp.

    {March 7th, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has revised the outlooks to stable from positive and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of American Life & Security Corp. (American Life) (headquartered in Lincoln, NE). The Credit Ratings (ratings) reflect American Life’s balance sheet strength, which AM Best assesses […]

    Principal Financial Group Announces 2023 and Long-Term Outlook

    {March 7th, 2023} by Principal Financial Group

    DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) announced its 2023 and long-term financial guidance today. Dan Houston, chairman, president, and CEO, and Deanna Strable, CFO, will provide additional details and take questions along with other members of the Principal executive team during a conference call on March 2, 2023, at 10 a.m. EST. Slides with […]

    AM Best Affirms Credit Ratings of Mutual of Omaha Insurance Company and Its Subsidiaries

    {March 7th, 2023} 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 “aa-” (Superior) of Mutual of Omaha Insurance Company and its subsidiaries, United of Omaha Life Insurance Company, Companion Life Insurance Company (Melville, NY) and United World Life Insurance Company. Concurrently, AM Best has affirmed the Long-Term […]

    MassMutual Delivers Excellent 2022 Financial Results

    {March 7th, 2023} by MassMutual

    SPRINGFIELD, Mass.–(BUSINESS WIRE)–Massachusetts Mutual Life Insurance Company (MassMutual) today reported excellent financial results1 for 2022. Despite a challenging and uncertain economic environment, the company delivered strong sales and operating earnings as well as record levels of capital while making significant progress on its long-term strategy. Financial performance highlights for the year ended December 31, 2022 include: Double-digit […]

    Aspire Magazine with Pam Sheehan

    {March 7th, 2023} by Aspire Magazine

    Hear from Aspire magazine publisher, Pam Sheehan, about the takeaways and content within Aspire’s inaugural issue 👉 https://lnkd.in/eB2bSeqG “What does it take to be successful in insurance and financial services? And, what are the resources you need to stay on top? These are the questions behind the creation of Aspire magazine. With over a million professionals in the independent […]

    Life Insurers Boosted Premiums, Now They Are Paying Refunds

    {March 7th, 2023} by Leslie Scism

    When interest rates fell to near zero after the financial crisis, dozens of life insurers boosted costs for longtime policyholders, seeking to improve results as their investment income fell. Now they are giving partial refunds to tens of thousands of these customers to settle a wave of lawsuits spurred by the increases. Click HERE to […]

    Independent Cetera team fighting Avantax ‘trade secret’ lawsuit

    {March 7th, 2023} by Tobias Salinger

    A simmering legal feud between two of the largest tax-focused wealth management firms underscores the shifting challenges for independent financial advisors who switch brokerages — and the industry’s scrutiny of LinkedIn posts. A previously-unreported lawsuit filed by the parent firm of Avantax Wealth Management cited a LinkedIn post by Brian Stern, the co-founder of Farpointe […]

    Interest Rates Are Up. So Is It Time To Buy Annuities?

    {March 7th, 2023} by Ben Mattlin

    In February, the Federal Reserve raised interest rates for the eighth time in the preceding 12 months—and indicated that more rate hikes may be coming. Consequently, six-month Treasury bonds were yielding slightly less than 5%, while 10-year Treasurys were just under 3.5%. But it was fixed annuities that had some clients and advisors excited. Click […]

    Six in ten women believe we are in or approaching a financial crisis

    {March 7th, 2023} by Nationwide

    Despite widespread concerns, less than half of women investors have a strategy in place to protect their assets from a recession COLUMBUS, Ohio, March 6, 2023 /PRNewswire/ — As ongoing market volatility and uncertainty over the direction of inflation continues, women investors are more fearful of a recession today than they were in 2022, according to Nationwide’s […]

    Brooks Tingle Appointed President and CEO of John Hancock in Leadership Succession Plan

    {March 7th, 2023} by John Hancock

    Marianne Harrison to Retire After Twenty Distinguished Years at Manulife and Five as President and CEO of John Hancock   TSX/NYSE/PSE: MFC SEHK: 945  BOSTON, March 3, 2023 /PRNewswire/ — Today, John Hancock, a unit of Manulife (NYSE: MFC), announced that Marianne Harrison has decided to retire after twenty distinguished years with the company and that Brooks Tingle will become President and CEO of John Hancock, […]

    North Carolina magnate Greg Lindberg remains free after new charges

    {March 7th, 2023} by Winston-Salem Journal (NC)

    CHARLOTTE – A North Carolina business magnate remains free after he was indicted on charges he conspired to conduct a massive scheme to deceive insurance regulators and policyholders related to insurance companies that he controlled. Greg E. Lindberg of Durham was ordered released on $100,000 unsecured bond following his initial appearance and arraignment on Thursday before U.S. Magistrate Judge David Keesler in Charlotte, court filings show. Click HERE […]

    Insurers staring at higher capital charges for investments in risky CLOs

    {March 7th, 2023} by John Hilton

    State insurance regulators are taking aim at the capital charges for insurers who invest in riskier collateralized loan obligations (CLOs), concerned that too much policyholder capital is being exposed to risky investments. New proposed rules highlight the divide between private-equity backed insurers, who are much more likely to invest in CLOs, and traditional insurers. Click […]

    Jackson National pivoting away from struggling variable annuities

    {March 7th, 2023} by John Hilton

    Jackson National continued its necessary pivot away from the variable annuities during a dicey fourth quarter for the market leader. VA sales are in a steady slide amid the struggles of the equity markets. Jackson annually ranks No. 1 in VA sales, according to LIMRA sales statistics. But sales are sliding and Jackson President and CEO […]

    Simplicity in it for the long haul

    {March 7th, 2023} by John Hilton

    Marketing firms are changing the business of distribution, said Sheryl Moore, president and CEO of Moore Market Intelligence and Wink Inc. Small- to mid-sized insurance marketing organizations and field marketing organizations are being gobbled up so quickly, it is forcing many to reconsider their plan, she added. “It is hard to compete against an Integrity, […]

    A note to Investor.gov

    {March 7th, 2023} by Sheryl J. Moore

    Hey- U.S. Securities and Exchange Commission! I just had the opportunity to review your content on annuities on your “Investor” website.  Click HERE to view Annuities via Investor.gov It isn’t entirely accurate. It is outdated. Do you need help updating it? For example- there is a fourth type of annuity that was developed over a decade […]

    Evolving Life And Annuity Sales Platforms

    {March 7th, 2023} by Ken Leibow

    What’s exciting about 2023 is not just new technology, but the evolution of the platforms we use today to sell life insurance and annuities. Enhancing successful software solution platforms to help advisors sell more insurance continues to be released. Those that may have made the investment last year will see even more return this year. […]

    Group 1001 and Andretti Autosport Kick off Women’s History Month at the Firestone Grand Prix of St. Petersburg

    {March 7th, 2023} by Group 1001

    Branding on the racecar salutes four significant organizations impacting equity in women’s sports at the first NTT INDYCAR SERIES race of the season on March 5 INDIANAPOLIS, March 2, 2023 /PRNewswire/ — NTT INDYCAR SERIES driver Colton Herta will pilot the No. 26 Gainbridge Honda for Andretti Autosport at the season’s first race with a special salute to Women’s History […]

    Guardian Introduces SafeGuard360™ Offering Holistic Protection in a Single Solution

    {March 1st, 2023} by Guardian

    Industry-First Product Includes Life Insurance, Long Term Care and Income Protection Benefits for Lifelong Financial Well-being NEW YORK, Feb. 22, 2023 /PRNewswire/ — The Guardian Life Insurance Company of America® (Guardian) today introduced SafeGuard360™, an innovative solution that offers essential financial protection for consumers in one product. SafeGuard360™ is an industry-first, patent pending product that includes life insurance, long […]

    Equitable Enhances Market Leading Buffered Annuity Suite

    {March 1st, 2023} by Equitable

    NEW YORK–(BUSINESS WIRE)–Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today announced enhancements to its Structured Capital Strategies PLUS® 21 and Structured Capital Strategies® Income variable and registered index-linked annuities (RILAs). The new enhancements are designed to provide clients with partial protection against market volatility along with the opportunity to capture upside market […]

    Older Americans richer than previously thought, Census says

    {March 1st, 2023} by Steven A. Morelli

    Older Americans may be doing better financially than the U.S. Census thought they were, according to a new analysis the agency recently released. The Census Bureau found that the population overall had higher income and slightly less poverty than previously thought, thanks to a new analysis project, the National Experimental Wellbeing Statistics, or NEWS. The […]

    Less Than Half of U.S. Workers Are Aware of the IRS Tax Credit for Eligible Retirement Savers

    {March 1st, 2023} by Transamerica Center for Retirement Studies

    Transamerica Center for Retirement Studies® Offers Tips on How to Claim the Saver’s Credit LOS ANGELES, Feb. 28, 2023 /PRNewswire/ — Less than half (49%) of U.S. workers are aware of a tax credit that may help them save for retirement and lower their tax bill, according to survey findings from nonprofit Transamerica Center for Retirement Studies® (TCRS). The Saver’s Credit, also […]

    John Hancock expands access to Galleri®, GRAIL’s breakthrough cancer screening technology

    {March 1st, 2023} by John Hancock

    Carrier previously became the first life insurer to offer access to the Galleri test through a pilot in 2022 TSX/NYSE/PSE: MFC SEHK: 945 BOSTON, Feb. 23, 2023 /PRNewswire/ — Today, John Hancock, a unit of Manulife (NYSE: MFC), announced it will expand access to GRAIL’s Galleri® multi-cancer early detection test to eligible life insurance customers participating in the John Hancock Vitality PLUS program, […]

    IRI to Push for Annuities as Default Retirement Investment Option in ‘23

    {March 1st, 2023} by Alex Ortolani

    The Insured Retirement Institute will be focusing advocacy efforts in 2023 in part on eliminating barriers to the inclusion of guaranteed lifetime income annuities in retirement plans as a qualified default investment alternative.   The IRI revealed its intentions on Monday in a release of its 2023 Federal Retirement Security Blueprint detailing the advocacy group’s federal legislative […]

    Pan-American Life Insurance Group Reports 2022 Financial Results

    {March 1st, 2023} by PALIG

    NEW ORLEANS–(BUSINESS WIRE)–Pan-American Life Insurance Group (PALIG), a leading provider of life, accident, and health insurance throughout the Americas, announced today financial results for the full year ending December 31, 2022*. In 2022, amid a challenging investment climate, PALIG delivered another year of solid revenue growth and strong operational performance as the impact of the […]

    Securian Financial Announces 2022 Results

    {March 1st, 2023} by Securian Financial

    ST. PAUL, Minn.–(BUSINESS WIRE)–Securian Financial—a diversified provider of insurance, investment and retirement solutions—announced 2022 results at its recent annual employee meeting. Earnings increased significantly while the company took bold steps to prioritize its most promising growth opportunities and fulfilled its purpose of building secure tomorrows for its customers. “2022 was a successful year for Securian […]