AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company
{March 1st, 2023} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Mutual of America Life Insurance Company (MofA) (New York, NY). These Credit Ratings (ratings) reflect MofA’s balance sheet strength, which AM Best assesses as very strong, […]
The Standard Partners With Black Insurance Industry Collective to Increase Representation and Accelerate Advancement of Black Professionals
{March 1st, 2023} by The Standard
PORTLAND, Ore.–(BUSINESS WIRE)–The Standard recently became a founding sponsor of the Black Insurance Industry Collective to increase inclusion and support leadership opportunities for Black employees while also helping positively reshape the future of the insurance industry. “Whether you are a recent college graduate exploring career opportunities in the insurance industry or a mid-level professional seeking opportunities to lead, […]
Jackson Announces Fourth Quarter and Full Year 2022 Results
{March 1st, 2023} by Jackson
LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc. (NYSE: JXN) (Jackson®) today announced financial results for the fourth quarter and full year ended December 31, 2022. Fourth Quarter Highlights Net income (loss) attributable to Jackson Financial Inc. of $(710) million, or $(8.48) per diluted share, including the impact of non-economic hedging results under GAAP accounting Adjusted operating earnings1 of […]
Empower Inspires Americans to Boldly Take on “What’s Next” With New Empower.com Digital Experience, News Site, and Brand Campaign
{March 1st, 2023} by Empower
GREENWOOD VILLAGE, Colo.–(BUSINESS WIRE)–Money is a complicated experience for many Americans; in fact, only 34% of Americans report feeling very financially healthy.1 Empower, a leader in financial planning, investing, and advice, is changing that. The company launched a new digital experience at Empower.com, personal finance site and newsletter, The Currency™, to help answer money questions so people can […]
Kuvare Expands Internationally with Three New Reinsurance Transactions; Closed Transaction Count Now Stands At Ten
{March 1st, 2023} by Kuvare
HAMILTON, Bermuda–(BUSINESS WIRE)–Kuvare Holdings (“Kuvare”) is pleased to announce the closing of three additional strategic reinsurance transactions over the past two quarters. These deals bring Kuvare’s total completed reinsurance transactions to ten, and Kuvare now faces seven different highly rated counterparties. These three most recent transactions represent an initial expansion of Kuvare’s reinsurance solutions into […]
Drake University announces $3.15 million philanthropic commitment from Sammons Financial Group
{March 1st, 2023} by Sammons Financial Group
DES MOINES, Iowa–(BUSINESS WIRE)–Drake University announced today that Sammons Financial Group® has committed $3.15 million to Drake to support the development of the Sammons Intercultural Center and Sammons Plaza, along with support for two scholarship funds that will create a total of 14 endowed scholarships. Beginning in 2024, Drake will use $1.75 million of the Sammons Financial […]
Why Are Fixed Annuities Breaking Sales Records?
{March 1st, 2023} by MassMutual
A new MassMutual study sheds light on why fixed annuities have become so popular with consumers. (Sponsored) Click HERE to view via Rethinking65 Wink’s Note: In a study done by MassMutual, 40% of consumers were unable to identify a fixed annuity. Not surprising. In the same study, financial professionals indicated that only 8% of clients […]
S&P Closes Out Worst Week of 2023
{March 1st, 2023} by Rita Nazareth
Wall Street’s reaction to hotter-than-estimated inflation data suggested growing bets the Federal Reserve has a long ways to go in its aggressive tightening crusade, making the odds of a soft landing look slimmer. A 1.1% slide in the S&P 500 Friday extended its weekly rout — the worst in 2023. The tech-heavy Nasdaq 100 sank […]
3 Annuity Rule Changes on IRI’s New Wish List
{March 1st, 2023} by Allison Bell
The Insured Retirement Institute has an idea for helping clients move individual retirement account money into more interesting income annuities. IRI also has ideas for building annuitization options into 401(k) plans and other employer-sponsored defined contribution retirement plans. Click HERE to read the full story via ThinkAdvisor
Regulators Say Rising Rates Could Ding Life Insurers’ Mortgage Investments
{March 1st, 2023} by Allison Bell
Higher interest rates should improve yields on new mortgages and mortgage-backed securities, but they could hurt the value of mortgages and mortgage-backed securities already in life insurers’ investment portfolios. Jennifer Johnson and Michele Wong, analysts at the National Association of Insurance Commissioners’ Capital Markets Bureau, gave that assessment in a new analysis of the impact […]
New Life Policy Can Protect Against Disability and Long-Term Care Risk
{March 1st, 2023} by Allison Bell
The Guardian Life Insurance Company of America has come out with a package that combines three different types of coverage. The company’s new SafeGuard360 product is designed to pay benefits when an insured dies; when a younger insured has a hard time working due to disability; and when an older insured suffers a serious enough […]
Lincoln Financial Caps Executive Severance Benefits
{March 1st, 2023} by Allison Bell
Lincoln Financial has adopted a new cash severance policy for top executives. The life insurer said in a notice filed with the U.S. Securities and Exchange Commission that it will not establish any new severance plan providing cash benefits that exceed 2.99 times the sum of the executive’s base salary and annual bonus opportunity, unless […]
Annuity Winds Might Be Shifting: Nationwide Executive
{March 1st, 2023} by Allison Bell
Soaring interest rates have been pushing U.S. sales of fixed annuities higher, and a top annuity issuer executive says he thinks conditions are right for a rebound in variable annuity sales later this year. Eric Henderson, president of Nationwide’s annuity unit, said in an email interview that relatively high interest rates could keep fixed annuity […]
“Best Life Insurance Companies…”
{March 1st, 2023} by Sheryl J. Moore
This is weird. I saw that USA TODAY published an “article” on the “Best life insurance companies of 2023.” They have my attention. The third sentence of this piece says, “we analyzed 15 of the leading life insurance companies” in the assessment. Leading life insurance companies, based on what? Later on, another reference, “life insurance experts evaluated […]
HSCM Bermuda Launches Insurance Credit Strategy with $400 Million Capital Commitment from Security Benefit
{March 1st, 2023} by HSCM
STAMFORD, Conn.–(BUSINESS WIRE)–Hudson Structured Capital Management Ltd. – conducting its insurance business as HSCM Bermuda (“HSCM Bermuda”) – today announced its launch of the HSCM Insurance Credit Strategy (the “Strategy”). Concurrent with its launch, Security Benefit Life Insurance Company (“SBL”) has, subject to certain conditions, committed $400 million of initial capital to HSCM Bermuda for […]
Insured Retirement Institute seeks to build on SECURE 2.0 wins
{March 1st, 2023} by Mark Schoeff Jr.
The annuity sector trade association is advocating for legislation that would mandate retirement plans for small employers that don’t have them, as well as bills that would increase the use of annuities. Click HERE to read the full story via InvestmentNews
Thomas H. Lee bought RIAs before anyone else
{March 1st, 2023} by Bruce Kelly
Thomas H. Lee, a private investor who bought into the market for RIAs more than a decade ago, well before many of his competitors, died suddenly Thursday. Click HERE to read the full story via InvestmentNews
No surprise here
{March 1st, 2023} by Sheryl Moore
With deferred annuities projected to hit $300 billion in sales for 2022, this will mark a nearly 20% increase from the record hit in 2008. And while final figures won’t be available until after the publication of this article, it’s clear principal protection was a theme in 2022. Click HERE to read the full story […]
What a great lineup!
{March 1st, 2023} by Sheryl J. Moore
Just reading the new Aspire Magazine, by my friend Pam Sheehan. Click HERE to read Aspire! What a great lineup! There is a terrific article on what the “bottom line costs.” I could definitely apply this to MY business! Here my buddy, Bobby Samuelson, makes a compelling argument for why we were proposed an alternative to the AG49-B […]
13 Finance Experts Recommend Tech Tools For Managing Business And Personal Finances
{March 1st, 2023} by Forbes Finance Council
7. LivePlan LivePlan software “helps entrepreneurs and small businesses organize relevant strategy and projection information more concisely.” I use the software for all of my financial projections and cash flow assumptions. The standard system comes at a cost of $20 per month, and it is worth every penny. – Sheryl J. Moore, Wink, Inc. Click HERE to view […]
When Failure Comes Unexpectedly to a Man
{March 1st, 2023} by David Macchia
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. In the final analysis, Dan’s confidence borne of providing good financial advice for 17 years proved meaningless. Marcie’s email absolutely stunned him: Dan, thank you for the 17 years of service you provided to Phil and me. However, now that […]
NAILBA Board of Advisors
{March 1st, 2023} by NAILBA
Interested in serving on the NAILBA Board of Advisors or know someone who should? We’re accepting nominations and applications until FRIDAY 3/3! This is your opportunity to help steer the path of NAILBA. LEARN MORE AND APPLY: https://bit.ly/3KMf42t
#352 The Walls are Closing In on Term Conversions
{March 1st, 2023} by Bobby Samuelson
Wink’s Note: I just got schooled by Steve Cox from Life Innovators. He contends that “the walls are closing in on term conversions.” Specifics to back this claim up? – Restricting conversion privileges to the first few years of the guaranteed premium period; – Restrictive conversion privileges to face amounts about $1M; – Restrictive conversion privileges for […]
12 Best & Worst Broker-Dealers: Q4 Earnings, 2022
{March 1st, 2023} by Janet Levaux
Broker-dealers reported mixed earnings for the final quarter of 2022, with an equal number posting year-over-year growth and declines in corporate profits. But while one large BD saw its profits drop over 65%, another knocked it out of the park with an earnings jump of nearly 200%. Speaking about the conditions affecting banks and other […]
Considering Annuities? How to Find the Right One for You
{March 1st, 2023} by Bradley Rosen
An annuity can help protect your retirement savings from threats such as sequence of returns risk from market volatility, longevity risks from outliving your money and inflation risks through the use of a guaranteed growth feature. Annuities come with dozens of customizable features, but careful planning and reflection on your personal goals for retirement can […]
This article made me sad for several reasons
{March 1st, 2023} by Sheryl J. Moore
This article, 3 REASONS YOU SHOULDN’T INVEST IN ANNUITIES made me sad. For several reasons. First, I cannot IMAGINE someone being sold an annuity that only yields 2% annually- especially “a few years later” than 2002? If that were truly the case, it HAD to be a very short-term product. That said, the commission would […]
Canvas Annuity Announces Launch of Multi-Year Guarantee Annuities in California
{March 1st, 2023} by Canvas Annuity
Product Features Unique “Buy Direct” Model and 6.25% 7-year Rate SCOTTSDALE, Ariz., Feb. 28, 2023 /PRNewswire/ — Canvas Annuity, a distribution affiliate of Puritan Life Insurance Company of America (Puritan Life), has announced the availability of their Future and Flex Fund multi-year guarantee (MYGA) fixed annuities in the state of California. Californians seeking high, guaranteed rates of return […]
The Savage Truth: These annuities have gotten more popular, and with good reason
{March 1st, 2023} by Terry Savage
Although I have previously warned against many annuities, with good reason, this column will focus on one type of annuity that might serve a very good short-term purpose in your financial plan. Click HERE to view the full story via Buffalo News Wink’s Note: It looks like Terry Savage may be warming-up to annuities! **Has […]
Salt Financial and MSCI Announce Strategic Collaboration to Develop Volatility-Controlled Index Solutions
{March 1st, 2023} by Salt Financial
GREENWICH, Conn., Feb. 15, 2023 /PRNewswire/ — Salt Financial today announced a collaboration with MSCI Inc. (NYSE: MSCI) to create risk-controlled index solutions for insurance companies. The cooperation is expected to provide insurance companies and their clients with a new way to leverage MSCI’s 50 years of expertise in investment research and index construction using Salt’s patent-pending truVol® […]
Northwestern Mutual revenue reaches all-time high at $35B
{March 1st, 2023} by Doug Bailey
In what a top executive humorously quipped “exceptionally boring,” Northwestern Mutual again reported annual record sales, earnings, and dividends for 2022 in a year that saw many of its peers struggle to post mediocre returns. The 166-year-old financial services company said its revenue reached an all-time high or nearly $35 billion for the year, up […]
Helping Black Americans bridge the racial wealth gap
{March 1st, 2023} by Susan Rupe
Alexis Harris’s clients – a couple in their mid-30s – seemed to be on a good path. They wanted to save for their retirement, save for their newborn daughter’s education and build a legacy that would impact their daughter as well as the generations after her. This couple was disciplined about saving and investing. But […]
Women agents and advisors making history in 2023
{March 1st, 2023} by Diane Boyle
With March being Women’s History Month and 2023 ushering in a new Congress, it is a good time to note that the 118th Congress has a record number of women. Women now hold 28% of congressional seats, which is a 59% increase from a decade ago. As our industry is well aware, there have been […]
MassMutual’s Direct Private Investments Team and MassMutual Asset Finance to Transition to Barings
{March 1st, 2023} by Massachusetts Mutual Life Insurance Company and Barings
Move will broaden investment solutions for insurance companies and other institutional investors CHARLOTTE, N.C. and SPRINGFIELD, Mass., Feb. 27, 2023 /PRNewswire/ — Massachusetts Mutual Life Insurance Company (“MassMutual”) and Barings, one of the world’s leading investment managers and subsidiary of MassMutual, today announced plans to transition MassMutual’s Direct Private Investments (“DPI”), a leading fund finance provider, and MassMutual Asset […]
Finseca: 4 Smart Ways to Leverage Your 2023 Tax Return
{March 1st, 2023} by Finseca
WASHINGTON, Feb. 23, 2023 /PRNewswire/ — In a recent study from NerdWallet, 55% of Americans expect a tax refund this year. Your refund check is an excellent opportunity to set yourself up for long-term financial security. Finseca, or FINancial SECurity for All, encourages Americans to consider the following four ideas before spending this year’s refund. 1. Pay off debt. If you’ve got a […]
