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Archive for January 2024


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  • Wink, Inc.’s LifeSpecs Analysis Tool Unveils Variable UL Enhancement

    {January 31st, 2024} by Wink's Press Release

    –– FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE WINK INTRODUCES PRODUCT DATA ON ALL CASH VALUE LIFE INSURANCE PLANS Wink, Inc.’s LifeSpecs Analysis Tool Unveils Variable UL Enhancement Des Moines, Iowa. January 31, 2024- Staying true to their vital mission statement, “To provide the best darned competitive intelligence to the life insurance and annuity industries,” Wink, […]

    #62 – Sheryl Moore – Life Insurance, Annuities and Legacy, Oh My

    {January 31st, 2024} by Tyler Kamerman

    Through two very personal events, Sheryl Moore’s passion for life insurance and annuities was fanned into full flame. Sheryl is the president and CEO of Moore Market intelligence and is founder and creator of Wink’s AnnuitySpecs and Life Specs, as well as Wink’s Sales & Market Report and Wink’s intelligence report.  She is the co-author […]

    Study examines hesitancy around buying an annuity

    {January 31st, 2024} by Doug Bailey

    It’s an age-old puzzle that has stymied insurance companies, financial advisors, and investors: If buying annuities is a good option for many retirees, as some think, why aren’t more people purchasing them? That’s what the Center for Retirement Research at Boston College recently asked in a new report titled “How Much Do People Value Annuities […]

    OneAmerica® Announces Brand Refresh as OneAmerica Financial℠

    {January 31st, 2024} by OneAmerica

    Update demonstrates evolution to digital-first environment INDIANAPOLIS, Jan. 29, 2024 /PRNewswire/ — OneAmerica®, a national financial services organization, today unveiled a refreshed brand as OneAmerica Financial℠ . This strategic move aims to create greater awareness and distinctiveness for the company while amplifying its differentiators. Its focus on helping people build greater certainty throughout their financial journey can clearly […]

    Northwestern Mutual CEO John Schlifske announces plans to retire

    {January 31st, 2024} by Northwestern Mutual

    Schlifske’s 14-year tenure as CEO defined by historic business performance, bold client experience transformation, unsurpassed financial strength, exceptional product value, and meaningful investments in talent and diversity Tim Gerend to succeed Schlifske as the company’s next CEO, effective January 1, 2025 MILWAUKEE, Jan. 25, 2024 /PRNewswire/ — After 14 years as Northwestern Mutual’s Chief Executive Officer and 37 total […]

    Penn Mutual Launches “Life Matters: A Penn Mutual Podcast”

    {January 31st, 2024} by The Penn Mutual Life Insurance Company

    A Go-To Resource for Advanced Sales Strategies and Expert Insights in the Life Insurance Industry HORSHAM, Pa., Jan. 26, 2024 /PRNewswire/ — The Penn Mutual Life Insurance Company, a Fortune 1000 company, is thrilled to announce the launch of its latest venture, “Life Matters: A Penn Mutual Podcast.” This engaging podcast is designed to empower financial professionals […]

    Best’s Review: World’s Largest Insurance Companies, Top 50 Global Reinsurers and More

    {January 31st, 2024} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–January’s Best’s Review includes the following exclusive rankings: World’s Largest Insurance Companies – 2024 Edition Ranked by 2022 net nonbanking assets. Ranked by 2022 net premiums written. Top 50 Global Reinsurers – 2024 Edition Ranked by 2022 unaffiliated gross premiums written. Top 20 Global Brokers – 2024 Edition Ranked by 2022 total revenue. Top 25 U.S. […]

    AM Best Affirms Credit Ratings for Members of Corebridge Financial

    {January 31st, 2024} 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 ICRs) of “a” (Excellent) for the members of Corebridge Financial (Corebridge). The outlook of these Credit Ratings (ratings) is stable. (Please see below for a detailed listing of the companies and ratings.) The ratings of […]

    New York Life Wealth Watch 2024 Outlook: Financial Confidence Grows, While Credit Card Debt Looms

    {January 31st, 2024} by New York LIfe

    NEW YORK–(BUSINESS WIRE)–New York Life’s latest Wealth Watch survey finds financial resiliency among American adults, even in the face of high interest rates and rising credit card debt. Two-thirds of adults (64%) feel confident in their ability to meet their financial goals, and over half (52%) of adults saved the amount they wanted or more […]

    Corebridge Financial Launches New Multi-Year Guaranteed Annuity for Registered Investment Advisors

    {January 31st, 2024} by Corebridge Financial

    HOUSTON–(BUSINESS WIRE)–Corebridge Financial today announced the expansion of its annuity lineup for registered investment advisors (RIAs) with the launch of American Pathway AdvisorySM—a multi-year guaranteed annuity (MYGA) that offers growth and principal protection, along with flexibility and convenience. American Pathway Advisory is a fixed annuity that brings enhanced flexibility to the MYGA space through innovative […]

    Pacific Life Teams Up with Fidelity Investments on New Retirement Solution to Provide Guaranteed Lifetime Income

    {January 31st, 2024} by Pacific Life

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life announced today a collaboration with Fidelity Investments to provide Pacific Lifetime Income (a single premium immediate annuity or SPIA) for Fidelity’s new retirement income solution, Guaranteed Income Direct (GID). The strategic collaboration marks a significant step in addressing the evolving needs in retirement planning and the increasing demand for retirement […]

    Annuity Sales Set a Record in 2023. Recession Fears and Interest Rates Played a Role.

    {January 30th, 2024} by Kenneth Corbin

    Annuity sales posted a record year in 2023, the second-consecutive high recorded by the trade group Limra, which attributed much of the surge to increasing interest in fixed products. Fixed annuity sales jumped 36% last year to $286.2 billion, a “remarkable” increase that owed to “economic conditions and growing demand for protected investment growth,” according […]

    Unlocking the Fixed Annuity: Beyond All-or-Nothing Thinking

    {January 30th, 2024} by dkorth@finsum.com

    Financial advisors understand that fixed annuities often face a perception hurdle. Their clients envision handing over most of their hard-earned wealth and relinquishing control, sacrificing legacy for guaranteed income. But this all-or-nothing perspective overlooks the nuanced role these annuities can play in a diversified financial plan. Financial advisors understand that fixed annuities often face a […]

    Calling Clients About Life and Annuities? There Are Laws for That

    {January 30th, 2024} by Mark McKinney and Stefan Dunigan

    The Telephone Consumer Protection Act is one of the federal laws governing how organizations conduct telemarketing and outreach efforts. The TCPA places restrictions around the use of an automated telephone dialing system or another phone system with the capacity to be an “ATDS,” or autodialer, and to maintain and adhere to the do-not-call lists of […]

    Ameriprise May Be Close to Making a Big Reinsurance Deal

    {January 30th, 2024} by Allison Bell

    Ameriprise could be closer to using a big reinsurance deal to limit its exposure to life insurance or annuity risk. Walter Berman, the Minneapolis-based financial services company’s chief financial officer, hinted about the possibility last week during a conference call with securities analysts. Click HERE to read the full story via Think Advisor

    AM Best Assigns Credit Ratings to Everly Life Insurance Company

    {January 30th, 2024} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Everly Life Insurance Company (Everly Life) (Topeka, KS). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect Everly Life’s balance sheet strength, which AM Best assesses as very strong, […]

    Independent contractor rule proposal spurring angst, confusion

    {January 29th, 2024} by Doug Bailey

    Trade groups and employee advocates are singing “Out with the new, in with the old,” in reaction to the federal government’s recent efforts to once and for all define an employee versus an independent contractor, a move which industry advocates say could cause a significant reduction in the number of independent advisors serving consumers. After […]

    DOL fiduciary rule would bring ‘massive change’ to industry, analyst says

    {January 29th, 2024} by John Hilton

    While the Department of Labor’s fiduciary rule proposal might be a long way from becoming settled law, it brings the potential for “massive” change to the industry, a labor lawyer said Thursday. May to June is the likely timeframe for publication of the final fiduciary rule, said Tom Roberts and Michael Kreps, principals with Groom […]

    Judge denies PacLife motion to dismiss lawsuit over IUL illustration

    {January 29th, 2024} by John Hilton

    A judge denied a motion Wednesday by Pacific Life to dismiss a lawsuit brought by a Washington couple dissatisfied with a PDX indexed universal life policy. The lawsuit – filed in U.S. District Court for the District of Washington – is another case involving controversial IUL illustrations. Simona G. Marie and Thomas Lewis, from Richland, […]

    He would be 27 this year.

    {January 29th, 2024} by Sheryl J. Moore

    My son, AJ Betts, died by suicide ten years ago. The bullies won. Every year, my family goes out to eat cheeseburgers on AJ’s birthday, to celebrate his life. He would be 27 this year. Tonight, we chose to eat at Five Guys Enterprises in West Des Moines. You can’t get a better burger. As […]

    Quiz: How Well Do You Know Annuities?

    {January 29th, 2024} by Roger Wohlner

    Annuities are a popular retirement income vehicle. Some advisors embrace them as a client solution, while others do not. Like any financial product, there are good annuities and some that are not so good. Moreover, annuities are the right vehicle in some situations, but not in all cases. Click HERE to view the slideshow   […]

    Northwestern Mutual Names Its Next CEO

    {January 29th, 2024} by Allison Bell

    The Northwestern Mutual board has picked Tim Gerend to succeed John Schlifske as the company’s next chairman and chief executive officer. Schlifske, 64, is about to reach the Milwaukee-based company’s mandatory retirement age. He plans to give up the CEO post Dec. 31 and step down from his position as chairman of the board in […]

    Is Crypto More Mainstream Than Annuities?

    {January 29th, 2024} by Allison Bell

    Clients might have a different idea about what’s a core investment and what’s an alternative investment than financial professionals do. New York Life found that 16% of U.S. adult investors surveyed in November reported having money invested in cryptocurrencies or similar types of alternative investments, up from 13% a year earlier, according to survey findings […]

    How to Explain Annuity Basics

    {January 29th, 2024} by Heather Lindsley

    The lack of general information about annuities can make them seem intimidating, pushing clients away from expressing interest. Even if clients are interested in expanding their portfolio, they may be hesitant to look into their annuity options. Once you’ve researched and determined that an annuity would be a valuable addition to your client’s portfolio, educate […]

    Life insurers should deliver solid Q4 and full 2023 earnings, analyst says

    {January 29th, 2024} by John Hilton

    Through three quarters, LIMRA and Wink, Inc. both reported record-setting annuity sales. In the first nine months of 2023, total annuity sales increased 21% to $270.6 billion, LIMRA found. Those full-year sales numbers will likely be equally as impressive and Wall Street analysts will take note. “We expect to continue to see strong growth in sales, led […]

    LIMRA: Annuity sales post another record year in 2023

    {January 29th, 2024} by John Hilton

    For the second consecutive year, rising interest rates pushed annuity sales to another all-time record high, according to preliminary results from LIMRA’s U.S. Individual Annuity Sales Survey. Powered by unprecedented fixed annuity sales, total annuity sales topped $385 billion in 2023, 23% higher than the record set in 2022. “Economic conditions and growing demand for protected investment […]

    Insurers Seek Spread of State Standard to Thwart DOL 401(k) Rule

    {January 29th, 2024} by Austin R. Ramsey

    Opponents of newly proposed US Labor Department retirement advice standards are pushing state insurance regulators to fill in policy gaps of their own to boost their case for more lenient federal-level conduct requirements. Vermont recently became the latest state to require financial professionals to act in their clients’ best-interest when selling annuities, narrowing the number […]

    COMMENTARY: Americans’ Retirement Thinking Is Stuck in the Past. How to Fix It.

    {January 25th, 2024} by Jason J. Fichtner

    This year marks the beginning of the largest surge of retirement-age Americans in our nation’s history. Over 4.1 million Americans will turn 65 each year through 2027, which is more than 11,200 every day. If they don’t know already, they will soon discover how obsolete our nation’s public and private sector retirement systems are. The nation is […]

    2024 Industry Conferences Calendar

    {January 23rd, 2024} by Jamie Johnson

    Jan 22- 25, 2024: Wink Insights Conference Professional Insurance Marketing Association (PiMA), Amelia Island, FL Feb 25-28, 2024: American Council of Life Insurers (ACLI) ReFocus Conference, Las Vegas, NV March 5-8, 2024: BISA 2024 Annual Convention, Hollywood, FL April 28-30, 2024: Society of Insurance Research’s (SIR) 2024 Annual Conference, Boston, MA

    True or False

    {January 23rd, 2024} by Sheryl J. Moore

    True or false- Indexed annuities have: – 180 different indices upon which to base their interest crediting, – 33 different ways of calculating the indexed interest, and – 4 ways of limiting indexed gains. PLUS – 1 major reputation for being complex. Join in the discussion on LinkedIn HERE -sjm


    {January 23rd, 2024} by Axonic Capital

    $4.3B asset management firm launches insurance offering to capitalize on the evolving needs of insurance customers and clients. Axonic Capital, the $4.3B asset management firm known for opportunities in structured credit, commercial real estate and systematic fixed income, announced the launch of its newest business: Axonic Insurance. This new business builds on Axonic Capital’s industry-leading investment […]

    North American and Annexus Enhance the Secure Horizon Plus Fixed Index Annuity

    {January 23rd, 2024} by Annexus

    SCOTTSDALE, Ariz., Jan. 17, 2024 /PRNewswire/ — North American Company for Life and Health Insurance®(North American), a member company of Sammons® Financial Group and one of the largest issuers of fixed index annuities (FIAs) in the U.S.,¹ and Annexus, a leading independent insurance retirement product design company, announce two major enhancements to the Secure HorizonSM Plus FIA. The changes include an increase to […]

    Your Healthspan Is as Important as Your Lifespan—and It’s Declining

    {January 23rd, 2024} by Alex Janin

    Americans are living longer, but spending less time in good health. The estimated average proportion of life spent in good health declined to 83.6% in 2021, down from 85.8% in 1990, according to an analysis of the latest data from the Institute for Health Metrics and Evaluation’s Global Burden of Disease study, a research effort based […]

    Royal Neighbors Launches New Final Expense Product Catering to the Uninsured

    {January 23rd, 2024} by Royal Neighbors of America

    Ensured Legacy Final ExpenseTM will offer a Charitable Giving Rider Rock Island, Ill. (January 22, 2024) – Royal Neighbors of America, a fraternal benefit society providing life insurance products to its members today unveiled an innovative life insurance product aimed at addressing the needs of the uninsured and those facing coverage challenges. Ensured Legacy Final Expense1, […]

    Nassau Aims Annuity at Social Security Planning Market

    {January 23rd, 2024} by Allison Bell

    Nassau Financial Group wants to give advisors a tool they can use to help clients fine-tune the start date for Social Security retirement benefits. The Hartford, Connecticut-based company introduced the Nassau Income Accelerator, an annuity with Social Security-compatible lifetime income options. Click HERE to read the full story via Think Advisor

    Flourish Launches Annuity Platform for Independent RIAs

    {January 23rd, 2024} by John Manganaro

    The fintech firm Flourish announced Wednesday the launch of a new annuity distribution platform for fee-based fiduciary financial advisors. Speaking with ThinkAdvisor about the news, the firm’s president, Ben Cruikshank, said the platform was built from scratch over the past two years to address three key pain points that have historically prevented fiduciary advisors from […]

    Bill That Could Narrow CFPB’s Insurance Authority Is Back

    {January 23rd, 2024} by Allison Bell

    Lawmakers have revived efforts to keep the Consumer Financial Protection Bureau from trying to regulate the insurance activities of companies or individuals that are under the jurisdiction of state insurance regulators. The bill, the Business of Insurance Regulatory Reform Act of 2024, would also require the CFPB to construe its authority narrowly if it were […]

    Woman’s Estate Sues MetLife, Fidelity Over Where Death Benefits Should Go

    {January 23rd, 2024} by Allison Bell

    The family of a woman who died in July 2023 is asking a state court to have $150,000 in group life insurance benefits paid to her estate, rather than to a man named as a beneficiary, based on allegations that the man forced the woman to name him as a policy beneficiary. The estate of […]

    New Report: Economic Fears Driving Retirees Back to Work

    {January 23rd, 2024} by Nationwide

    In a year when more American savers will turn 65 than at any point in history, those in or near retirement reflect on what went right and missed opportunities COLUMBUS, Ohio, Jan. 22, 2024 /PRNewswire/ — This year, more Americans will turn 65 years old than at any point in history, with roughly 12,000 people a day reaching the […]

    Simplicity Acquires Designs in Life and Welcomes Shawn Jeanes as Newest Partner

    {January 23rd, 2024} by Simplicity Group Holdings

    SUMMIT, N.J., Jan. 18, 2024 /PRNewswire/ — Simplicity Group Holdings, Inc. (“Simplicity”), a premier financial products distribution firm, today announces the acquisition of California-based BGA, Designs in Life. With the completion of this transaction, Designs in Life’s founder, Shawn Jeanes will become Simplicity’s newest Partner and will continue to lead the Designs in Life team. “We are proud to welcome talented […]

    New Year, New You & a New Financial Focus with Advice from Finseca

    {January 23rd, 2024} by Finseca

    WASHINGTON, Jan. 17, 2024 /PRNewswire/ — At the beginning of every year, if you’re like us, you probably have high hopes of improving yourself with new goals and ambitions. Unfortunately, it doesn’t take long for many of us to lose motivation and fall back into our old habits.  According to author James Clear, “somewhere between 81 percent and […]


    {January 23rd, 2024} by Havas

    New campaign from Lincoln Financial and Havas, “The Action Plan,” is reframing the way the financial category portrays 50+ and the life they want during retirement NEW YORK, Jan. 16, 2024 /PRNewswire/ – Lincoln Financial Group debuted today “The Action Plan,” a campaign that reframes the way the financial category perceives and talks about the new era […]

    Why Retirement Gets Better With Annuities

    {January 23rd, 2024} by Shankar Parameshwaran

    Everyone aspires to have a steady source of income after retirement that replaces as much as possible of their pre-retirement earning. But for many people, one big challenge in saving for that goal is to find the right financial product that accommodates their specific requirements, such as when they want to retire or how much […]

    Why Do Clients Really Ignore Advice on Annuities?

    {January 23rd, 2024} by John Manganaro

    Arecent paper and summary brief published by two experts at the Center for Retirement Research at Boston College has sparked a debate about financial advisors being able to steer clients toward guaranteed income annuities in the retirement planning process. Click HERE to read the full story via ThinkAdvisor   Wink’s Moore on the Market: I’m […]

    Lobbyists race to make best interest a blanket standard in final few states

    {January 23rd, 2024} by John Hilton

    Forty-one states operate under new best-interest annuity sales standards based off a model put forth by the National Association of Insurance Commissioners. It is a standard favored and pushed by industry lobbyists who say it will cause the least disruption to business models. Meanwhile, the Department of Labor is behind closed doors putting the finishing […]

    NY regulators focus on potential for AI discrimination by insurers

    {January 23rd, 2024} by John Hilton

    Citing concerns over “systemic biases” creeping into insurance, New York State regulators are taking the first steps toward regulating the use of artificial intelligence. Superintendent of Financial Services Adrienne A. Harris issued for public comment a proposed circular letter addressing the use of AI by licensed insurers. In the Jan. 17 letter, regulators focus on underwriting and […]

    California legislators again consider best-interest annuity sales bill

    {January 23rd, 2024} by John Hilton

    A California Assembly committee finally released a best-interest annuity sales bill favored by industry lobbyists late last week, but not everyone is happy the bill is back on track. Senate Bill 263 passed the Appropriations Committee unanimously, and is based on the annuity sales model law put forth by the National Association of Insurance Commissioners. Forty-one states […]

    Consumer Groups Attack Annuity Bill in California

    {January 23rd, 2024} by Allison Bell

    Two California groups that support the U.S. Labor Department’s fiduciary rule effort say officials in their state are rushing an annuity sales rule alternative through the state Legislature. The Consumer Federation of California and the Life Insurance Consumer Advocacy Center assert in a new joint commentary that they believe that California Insurance Commissioner Ricardo Lara and the California […]

    Revisiting The Utility Of Whole Life

    {January 23rd, 2024} by John Osarczuk

    For military families, frequent moves, extended deployments, and the dangers inherent to military service require diligent planning — financially and otherwise. With a lifestyle that includes significant uncertainty, whole life insurance offers military families some important guarantees during a lifetime, which makes it a core element of their financial security strategy. Recent data reveals military […]

    Oxford Economics study: DOL fiduciary rule price tag is $2.7B in year one

    {January 23rd, 2024} by John Hilton

    A study commissioned by the Financial Services Institute finds that the Department of Labor fiduciary rule proposal would cost firms $2.7 billion in the first year. FSI opposes the fiduciary rule and hired Oxford Economics to do the study. The cost of the rule would be 11 times the department’s estimate of ongoing costs, the study concluded. […]

    Expect More of This Feature on Fixed-Indexed Annuities in 2024

    {January 23rd, 2024} by Cyril Tuohy

    Article Excerpt: Indexed annuities are expected to book record sales in 2023 and nearly one in five new fixed-indexed contracts (18.07%) were sold with a premium bonus last year, according to AnnuitySpecs, a software tool from industry researcher Wink. That’s up from 2022, when 11.90% of new indexed annuities came with a premium bonus, Wink […]

    S&P 500 Hits All-Time High in Historic Bull Run

    {January 23rd, 2024} by Rita Nazareth

    Wall Street is ending the week on a positive note, with stocks hitting an intraday record on speculation the Federal Reserve will start cutting rates this year — bolstering the outlook for Corporate America. Another rally in the S&P 500’s most-influential group — technology — put the gauge on track to become the last of […]

    New Life and Annuity Deals Bring Wellness Into Fold

    {January 23rd, 2024} by Allison Bell

    Life insurers could use mergers and acquisitions to expand into the life extension business. Capgemini, a consulting firm, recently predicted in a trend forecast review that “wellness as a service” efforts could lead to M&A activity as well as alliances. Click HERE to read the full story via Think Advisor

    From Best’s Review: Industry Overview

    {January 23rd, 2024} by AM Best

    Insurance takes advantage of concepts known as risk pooling and the law of large numbers. Many policyholders pay a relatively small amount in premiums to protect themselves against a possible larger loss. Click HERE to review via AM BEST

    The IRA Whisperer — With Denise Appleby

    {January 23rd, 2024} by Paul Feldman

    Denise Appleby, chief executive officer of Appleby Retirement Consulting, has more than 20 years of experience in the retirement plans field, which includes providing training and technical consultation. Her company provides individual retirement account resources for financial, tax and legal professionals. As complex as the topic of IRAs is, Appleby says keeping abreast of changes […]

    If selling life insurance were easy, everyone would do it

    {January 23rd, 2024} by Joe Ross

    Most InsuranceNewsNet readers are well convinced of the value of life insurance — as they should be. Life insurance is an extraordinary financial product that helps ensure security and protection for loved ones and beneficiaries.   But life insurance’s many benefits and positives don’t mean that selling life insurance is easy. After all, if it were easy, everyone […]

    FINRA Sees Spike in ‘Investment Group’ Frauds on Social Media

    {January 23rd, 2024} by Melanie Waddell

    The Financial Industry Regulatory Authority says it’s seeing a “significant spike” in investor complaints of recommendations made by fraudulent “investment groups” promoted through social media channels. Complaints received by FINRA and posted on social media “describe bad actors, posing as registered investment advisers, who initially advertise ‘stock investment groups’ on Instagram and other social media […]

    What to expect while you’re expecting the fiduciary rule

    {January 23rd, 2024} by Emile Hallez

    It will be months before the Department of Labor publishes the final version of its fiduciary rule, but one thing advisors and their firms should expect is that it will be effective for some time.   Click HERE to read the full story via InvestmentNews

    Integrity Announces Expansion of Transformational Legacy Safeguard® Turnkey Offerings for all Integrity Agents

    {January 23rd, 2024} by Integrity Marketing Group, LLC

    Integrity Announces Expansion of Transformational Legacy Safeguard® Turnkey Offerings for all Integrity Agents       Proprietary legacy planning service fully integrates with Integrity’s end-to-end suite and empowers agents to more holistically serve their clients and help them leave a lasting legacy   DALLAS – JANUARY 18, 2024 – Integrity Marketing Group, LLC (“Integrity”), a […]

    Nassau Financial Group Launches Innovative New Fixed Indexed Annuity Product

    {January 17th, 2024} by Nassau Financial Group

    HARTFORD, Conn.–(BUSINESS WIRE)–Nassau Financial Group (“Nassau”) today introduced a new, innovative fixed indexed annuity (“FIA”) to its product portfolio, Nassau Income Accelerator. Nassau’s latest offering is a single premium fixed indexed annuity with flexible guaranteed lifetime income options that help retirees delay, and therefore increase, their Social Security and other retirement benefits. “For retirees faced […]

    After 8-hour hearing, ‘Annuity King’ sentencing continued to Jan. 31

    {January 17th, 2024} by John Hilton

    Sentencing for Phillip Roy Wasserman was continued Friday after nearly eight hours. Judge Charlene Edwards Honeywell will reconvene the hearing on Jan. 31. The judge had expressed a desire to wrap up sentencing in one day, but it wasn’t to be. Honeywell denied motions for acquittal and or a new trial on Wednesday and Thursday.  Click HERE […]

    DOL on a ‘crusade to ban commissions’ with fiduciary rule, speaker claims

    {January 17th, 2024} by John Hilton

    Commissions-based compensation is the backbone of the independent distribution of insurance products and is threatened by the proposed Department of Labor fiduciary rule. And that is the DOL’s intent, said Marc Cadin, CEO of Finseca, who testified Wednesday at a House Capital Markets Subcommittee hearing on the rule. “The department is on an ideological crusade over the […]

    Life insurance applications up 3% in 2023; first rise in nearly 4 years

    {January 17th, 2024} by Doug Bailey

    Application activity for U.S. life insurance grew at a near 3% rate in 2023 compared to the previous year showing the first uptick in almost four years, according to the MIB Group, a member-owned company that provides underwriting services to life and health insurance companies. The 2023 year-to-year comparisons are impacted by the decline in […]

    New DOL rule could undermine financial advisors’ independent contractor status

    {January 17th, 2024} by Doug Bailey

    he U.S. Department of Labor’s new rule to determine whether a worker is an employee or independent contractor includes a six-factor test of the “economic reality” of the relationship between workers and employers. Financial industry advocates fear the rule may undermine advisor’s independent contractor status. Among other things, the test asks whether the worker depends […]

    Lobbyists race to make best interest a blanket standard in final few states

    {January 17th, 2024} by John Hilton

    Forty-one states operate under new best-interest annuity sales standards based off a model put forth by the National Association of Insurance Commissioners. It is a standard favored and pushed by industry lobbyists who say it will cause the least disruption to business models. Meanwhile, the Department of Labor is behind closed doors putting the finishing […]

    Life Insurer Faces Legal Pushback From Its Own Insurers

    {January 17th, 2024} by Allison Bell

    Court filings in California and Connecticut show what happens when a life insurer has problems collecting benefits from its own insurance companies. PHL Variable Insurance Co., a subsidiary of Nassau Financial, faced class-action lawsuits after it increased universal life policy cost-of-insurance charges. Click HERE to read the full story via Think Advisor

    Why New DOL Fiduciary Rule Is Not a ‘Rehash’ of 2016

    {January 17th, 2024} by Melanie Waddell

    As the architect of the Labor Department’s 2016 fiduciary rule, Phyllis Borzi is no stranger to controversy. Borzi, the former head of Labor’s Employee Benefits Security Administration under President Barack Obama, faced a barrage of criticsm as she crafted the department’s 2016 rule, which was eventually struck down by the U.S. Court of Appeals for the 5th Circuit […]

    7 Threats Life and Annuity Commenters See Lurking in DOL Fiduciary Rule Draft

    {January 17th, 2024} by Al

    The U.S. Department of Labor’s proposed fiduciary rule regulations could destabilize state life insurance markets, disrespect the Internal Revenue Service, weaken career agents’ employee benefits and hurt insurers’ ability to offer some well-established, popular life and annuity products that have not caused any noticeable problems. Regulators, executives and agents in the life and annuity sector […]

    Life Insurance Execs to Lead 2 Fed Regional Banks

    {January 17th, 2024} by Allison Bell

    The list of 2024 Federal Reserve System regional bank chairs and vice chairs includes two life insurance company chief executive officers. Chris Hilger, the chairman and CEO of Securian Financial, will be the chair of the Federal Reserve Bank of Minneapolis. He was the bank’s vice chair in 2022 and 2023. Click HERE to read the full […]

    Ameritas Teams With Ethos on Indexed Universal Life Product

    {January 17th, 2024} by Allison Bell

    Ethos Technologies has worked with Ameritas to introduce an indexed universal life policy. The new Ethos IUL policy comes with a tool for helping helping clients match premium and coverage targets, a digital application process, and a quick decision process. Ethos is an Austin, Texas-based company that has focused on selling life insurance to families […]

    Only Thirty Percent of Retirees Did Enough Planning For How To Spend Time In Retirement, According to New Study from Lincoln Financial Group

    {January 17th, 2024} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–The number of Americans aged 65 and older will more than double in the next 40 years, and more adults than ever are planning for their post-working years. While traditional retirement plans require ample conversations about savings for the future, less of the retirement conversation refers to how retirees intend to spend their days during […]

    Brighthouse Financial Announces Conference Call to Discuss Fourth Quarter and Full Year 2023 Results

    {January 17th, 2024} by Brighthouse Financial, Inc

    CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) announced today that it plans to hold a conference call and audio webcast to discuss its financial results for the fourth quarter and full year ended December 31, 2023, at 8:00 a.m. Eastern Time on Tuesday, February 13, 2024. The call will follow the issuance of […]

    Best’s Special Report: U.S. Annuity Surrenders Up Through 3Q/2023, Edging Out Premium Growth

    {January 17th, 2024} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–The value of surrendered annuity policies increased 18% through the third quarter of 2023, compared with the same prior-year period, according to a new AM Best report. However, premium growth held steady at 17% through the same period, with individual annuity premiums notching its 11th consecutive quarter of year-over-year growth. In its Best’s Special Report, titled, […]

    AM Best Upgrades Credit Ratings of Fidelity & Guaranty Life Holdings, Inc. and Its Life/Health Subsidiaries

    {January 17th, 2024} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” (Excellent) from “a-” (Excellent) of Fidelity & Guaranty Life Insurance Company (Des Moines, IA) and Fidelity & Guaranty Life Insurance Company of New York, (New York, NY). These subsidiaries of Fidelity & […]

    Heartland National Life Launches New MYGA through FireLight

    {January 17th, 2024} by Heartland National Life Insurance Company

    COLORADO SPRINGS, Colo.–(BUSINESS WIRE)–Hexure, a provider of sales and regulatory automation solutions for the life and annuity industry, announced Heartland National Life Insurance company (Heartland National) has implemented FireLight for e-submission of its annuity business. With FireLight, Heartland National accelerated the launch of its new multi-year guaranteed annuity (MYGA) product while providing its agents and […]

    Finra Examiners Detail Reg BI Failures In New Report

    {January 17th, 2024} by Tracey Longo

    Finra’s examination program has found that a number of broker-dealers have been violating Regulation Best Interest by failing to highlight conflicts of interest with costly products and excessive recommendations. That’s the upshot of the regulator’s 2024 annual report released today. Click HERE to read the full story via Financial Advisor

    Private equity stake in life insurers draws new round of critical reports

    {January 17th, 2024} by John Hilton

    Private equity firms continue to stalk insurance company takeovers and critics say the potential for a financial disaster grows along with that trend. Americans for Financial Reform, a Washington, D.C.-based nonprofit group that advocates for stronger regulation of Wall Street firms, is the latest group to raise alarm bells on what it deems to be […]

    ‘Annuity King’ Wasserman seeks new trial as sentencing date draws near

    {January 17th, 2024} by John Hilton

    Phillip Roy Wasserman is scheduled to be sentenced Friday in his $6.3 million fraud case and Judge Charlene Edwards Honeywell appears determined to avoid any further delays. “The Court has set aside all day for the sentencing hearing and it is the Court’s intent to conclude the sentencing hearing on January 12,” the judge’s order […]

    Understanding the behavioral benefits of annuities

    {January 17th, 2024} by Philip E. Caminiti

    Financial professionals tend to emphasize the strong quantitative benefits annuities provide, yet it’s the emotional and behavioral benefits that often make them the ideal choice for consumers. Click HERE to read the full story via InvestmentNews   Wink’s Moore on the Market: The big reason that annuity sales are hitting records is because of the […]

    Penn Mutual offers more choice with Accumulation Variable Universal Life

    {January 17th, 2024} by The Penn Mutual LIfe Insurance Company

    Diverse accumulation options cater to nearly every risk tolerance and preference  HORSHAM, Pa., Jan. 16, 2024 /PRNewswire/ — The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, has announced the addition of Accumulation Variable Universal Life (VUL) to its life product portfolio. Issued through Penn Mutual’s wholly owned subsidiary, The Penn Insurance and Annuity […]

    A.M. Best Upgrades Financial Strength Rating of F&G Annuities & Life’s Primary Operating Companies to ‘A’; Outlook Stable

    {January 17th, 2024} by AM Best

    DES MOINES, Iowa, Jan. 12, 2024 /PRNewswire/ — A.M. Best announced it has upgraded the financial strength ratings of F&G’s primary operating companies, Fidelity & Guaranty Life Insurance Company and Fidelity & Guaranty Life Insurance Company of New York, to ‘A’ (Excellent) from ‘A-‘ (Excellent).  Concurrently, A.M. Best has also upgraded the long-term issuer credit rating (ICR) of Fidelity […]

    Penn Mutual expands annuity portfolio with Deferred Variable Annuity (DVA)

    {January 17th, 2024} by The Penn Mutual Life Insurance Company

    Lower-fee Vanguard investment options support a wide range of retirement goals HORSHAM, Pa., Jan. 10, 2024 /PRNewswire/ — The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, has announced the addition of the Deferred Variable Annuity (DVA) product to its growing annuity portfolio. Issued through Penn Mutual’s wholly owned subsidiary, The Penn Insurance and […]

    illumifin Acquires AmeriLife’s Administrative Partners of America

    {January 17th, 2024} by Illumifin

    Strategic Acquisition Adds Material Growth to illumifin’s Health, Annuities and Life TPA Revenue and Expands Partnership with AmeriLife GREENVILLE, S.C., Jan. 9, 2024 /PRNewswire/ — illumifin, a leading third-party insurance administration and technology provider, today announced it has acquired Administrative Partners of America (APA), the Third-Party Administrator (TPA) of AmeriLife, a national leader in developing, marketing, and […]

    F&G Annuities & Life Announces $250 Million Investment From Fidelity National Financial

    {January 17th, 2024} by F&G Annuities & Life, Inc.

    DES MOINES, Iowa, Jan. 16, 2024 /PRNewswire/ — F&G Annuities & Life, Inc. (NYSE: FG) (“F&G or the Company”) today announced the closing of a $250 million preferred stock investment from parent Fidelity National Financial, Inc. (“FNF”).  F&G intends to use net proceeds from the investment to support the growth of its insurance company subsidiaries. Under the terms of the […]

    Ameritas and Ethos launch new index universal life product

    {January 17th, 2024} by Ameritas

    LINCOLN, Neb., Jan. 9, 2024 /PRNewswire/ — Ameritas and Ethos have introduced a new index universal life insurance product offered exclusively through Ethos, providing customers with the speed and convenience of a web-based process alongside the guidance of an agent. Ethos has built one of the most advanced technology platforms in the industry, leveraging thousands of data […]

    The Gratitude of Lifetime Annuities

    {January 17th, 2024} by Rod Mims

    Will your clients’ retirement savings last as long as they do? It’s a question on the minds of many financial professionals and their clients, and rightly so. In fact, according to 2022 data from Athene, over half (55%) of American adults are worried that they will outlive their retirement savings. Planning for retirement is a difficult […]

    IRS Gives Equal Billing to an Adviser Life Insurance Contract: Treats Adviser’s Fee the Same as Under Adviser Annuities

    {January 17th, 2024} by Stephen Kraus

    The IRS recently published a private letter ruling (No. 202341002) dealing with the tax treatment of advisory fees paid to an adviser from an “adviser life insurance contract.” Specifically, the letter ruling addressed whether the payment of such fees directly from a life insurance contract will be treated as a distribution from the life insurance […]

    The evolution of the life/annuity agent experience

    {January 17th, 2024} by Fabio Sarrico

    Only a few years ago, with the onset of the COVID-19 pandemic, many in the life and annuity insurance industry believed that the direct-to-consumer channel would be a salvation — and that agents would be replaced by automated processes. But today, as we look at customer experience preferences through the lens of channel preferences, it’s […]

    Ken Fisher Can’t Have It All

    {January 17th, 2024} by Michael Finke

    Ken Fisher has mounted one of the most successful attacks on a single financial product in history. Consumers searching for annuities have seen ads from Fisher explaining earnestly why retirees shouldn’t buy them. He’s even registered the trademark “I hate annuities.” It’s no secret that Fisher sees annuities as a perfect target to market his […]

    American National Named One of America’s Best Insurance Companies for 2024

    {January 17th, 2024} by American National Insurance Company

    HOUSTON, Dec. 12, 2023 (GLOBE NEWSWIRE) — American National Insurance Company has earned a place on the Forbes list of America’s Best Insurance Companies 2024. This prestigious award is presented by Forbes and Statista Inc., the world-leading statistics portal and industry ranking provider. America’s Best Insurance Companies 2024 were identified in an independent survey based […]

    Midwest Holding Inc. Completes Acquisition by Antarctica Capital

    {January 8th, 2024} by Midwest Holding Inc

    LINCOLN, Neb. and NEW YORK, Dec. 21, 2023 /PRNewswire/ — Midwest Holding Inc. (“Midwest”) (NASDAQ: MDWT), a technology-driven life and annuity platform, and Antarctica Capital (“Antarctica“), an alternative asset management firm, today announced the completion of the acquisition of Midwest by an affiliate of Antarctica. Georgette Nicholas, Chief Executive Officer of Midwest, said, “Today marks the beginning of a new chapter for Midwest, […]

    NAFA Urges DOL to Withdraw 2023 Fiduciary Advice Proposal in Its Entirety

    {January 8th, 2024} by NAFA

    Washington, DC, January 02, 2024 –(PR.com)– NAFA, the National Association for Fixed Annuities, submitted a letter in response to the Department of Labor’s request for comments regarding its Retirement Security Rule: Definition of an Investment Advice Fiduciary. This rulemaking package, which was introduced on Nov. 3, 2023, represents the Department’s fourth attempt at imposing a new fiduciary standard […]

    Despite perceived benefits, most Americans aren’t working with a financial professional

    {January 8th, 2024} by Ayo Mseka

    Although many Americans surveyed believe that working with a financial professional would benefit them, most are not doing so. Nine out of ten (88%) respondents said that working with a financial professional would be helpful to ensure they can financially support all the things they want to do in life. But only 44% are currently […]

    DOL Reviewing 19,000 Fiduciary Rule Comments

    {January 8th, 2024} by Melanie Waddell

    The Labor Department is now “carefully” reviewing and analyzing the more than 19,000 submissions it received on its new fiduciary rule proposal, a Labor spokesperson told ThinkAdvisor Friday. During the public comment period, which ended on Jan. 2, “many of these submissions were unique, while the vast majority were petitions that were submitted in common by […]

    IMF Economists: Bermuda Rules Make Annuity Issuers Look Bette

    {January 8th, 2024} by Allison Bell

    Economists at the International Monetary Fund make the case that Bermuda’s capital counting rules really do encourage annuity issuers in the United States and Europe to buy reinsurance from companies based in Bermuda. Bermuda lets reinsurers build assumptions about high future earnings on hard-to-sell, hard-to-price assets into benefits obligation valuations, then build the expected extra […]

    Annuity Issuers Move to Fill Bank Loan Gap

    {January 8th, 2024} by Allison Bell

    U.S. annuity sales should be strong in 2024, and the issuers will probably invest a significant share of the premiums in private credit arrangements, according to Jamie Tucker, a senior director at Fitch Ratings. “We expect allocation to private credit to continue to increase, in part driven by bank lending retrenchment,” Tucker said Friday during […]

    Fisher Investments Denies Report of Its Possible Sale

    {January 8th, 2024} by Gillian Tan

    Private equity firm Advent International has held talks to acquire billionaire Ken Fisher’s eponymous Fisher Investments, according to a person with knowledge of the matter. An agreement hasn’t been reached and it’s possible no deal will transpire, said the person, who asked not to be identified discussing confidential information. Click HERE to read the full […]

    Private Equity-Backed Life Insurers, Reinsurers Should Expect “Intrusive” Valuation Checks

    {January 8th, 2024} by Risk Market News

    Global and US regulators are preparing for a focus on private equity’s valuation practices in life insurance and reinsurance. The growth of private capital throughout the capital markets is a continuing theme, whether it is in the form of the increase in private credit or in PE-backed participation within industries like healthcare. Click HERE to read the full […]

    Bermuda Says It’s Watching Private Equity Insurers Carefully

    {January 8th, 2024} by Allison Bell

    The Bermuda Monetary Authority is working to ease outside observers’ concerns about private equity firms’ rush to own life and annuity insurers based in Bermuda. The agency recently put out a paper emphasizing that it is already addressing those concerns. “PE insurers require an intensified supervisor engagement,” Bermuda officials say in the new paper. “Accordingly, within the BMA, they […]

    Pan-American Life Insurance Company Announces Closing of its Acquisition and Merger of Encova Life Insurance Company

    {January 8th, 2024} by Pan-American Life Insurance Group

    NEW ORLEANS, La.–(BUSINESS WIRE)–Pan-American Life Insurance Company (“PALIC”) has completed the acquisition and merger of Encova Life Insurance Company (“Encova Life”). The transaction will add approximately $60 million in revenues, over $500 million in total assets, $35 million in insurance premiums and 79,000 covered lives to PALIC’s U.S. life insurance business, further enhancing PALIC’s U.S. […]

    Lincoln Financial Group to Report 2023 Fourth Quarter and Full Year Results on February 8

    {January 8th, 2024} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) announced today that it will report its results for the fourth quarter and full year ended December 31, 2023 at 7 a.m. Eastern Time on Thursday, February 8, 2024. A conference call is scheduled at 8:30 a.m. Eastern Time the same day. Earnings materials, including the 2023 fourth […]

    Jackson to Report Fourth Quarter and Full-Year 2023 Financial Results and Provide 2024 Outlook

    {January 8th, 2024} by Jackson Financial Inc.

    LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc.1 (NYSE: JXN) (Jackson®) will announce financial results for the fourth quarter and full year ended December 31, 2023, after market close Wednesday, February 21, 2024. Jackson’s press release and supplemental financial materials will be available at investors.jackson.com. Jackson will host a conference call and webcast Thursday, February 22, 2024, at 10 a.m. […]

    The Age Of Interdependent Financial Advice Is Upon Us

    {January 8th, 2024} by Michael Nathanson

    Financial “advice” has been available in our country since—and even before—its capitalistic origins, though it looked quite different in the more distant past. The content, form, delivery, consumers and providers of financial advice have evolved—dramatically—since “founding father” Benjamin Franklin advised that “a penny saved is two pence clear” and later, “a penny saved is a […]

    Private Equity Funds Are Borrowing Against Themselves, With The Help Of Insurers

    {January 8th, 2024} by Miles Weiss

    Apollo Global Management Inc. is at the forefront of a growing trend: insurers lending to private equity funds that want to borrow against their investments. Athene, an Apollo unit, is one of several insurers ramping up their participation in net asset value financing, an increasingly popular form of borrowing for private equity funds that need […]

    Insurance, Annuity Industry Wants Exclusion From Mass. ‘Junk Fee’ Rule

    {January 8th, 2024} by Tra

    The insurance and annuities industry have come out against a Massachusetts proposal to regulate hidden or surprise “junk” fees above the advertised price of goods or services.   The proposal by Massachusetts Attorney General Andrea Joy Campbell would prohibit hidden “junk fees,” which she said companies use to “deceptively hike prices” on consumers above advertised prices. Click […]

    4% Rule: ‘Neat, Plausible And Wrong’

    {January 8th, 2024} by Paul R. Samuelson

    The persistent—and futile—debate over the 4% rule for retirement income brings to mind the observation of the American social critic H.L. Mencken: “There is always a well-known solution to every human problem—neat, plausible and wrong,” Mencken wrote in 1920. Click HERE to read the full story via Financial Advisor

    Philly Area Father-Son Team Wins $500K From Woodbury For Defamation

    {January 8th, 2024} by Eric Rasmussen

    A father-son advisory team in the Philadelphia area has won a half-million-dollar arbitration award from their former firm, Woodbury Financial Services, after an arbitration panel found that the two had been defamed by the broker-dealer. Advisors Joseph Michael Cucinotta Sr. and his son, Cucinotta Jr., were both terminated in September 2021 by Woodbury, a subsidiary […]

    What Holds Clients Back From Annuities?

    {January 8th, 2024} by Eric Rasmussen

    Why is it that so many people say they want to buy an annuity but few actually do? A new blog from the Center for Retirement Research at Boston College suggests that it’s not for the reasons you might think. Click HERE to read the full story via Financial Advisor   Wink’s Moore on the […]

    Overconfidence exposes many Americans to financial scams

    {January 8th, 2024} by Ayo Mseka

    Although 90% of U.S. adults express confidence in their ability to detect and prevent financial scams, more than a quarter (27%) of 2,432 online respondents reported falling victim at some point to them, according to a survey by Citi. This disconnect, the study says, emphasizes the need for continued vigilance, awareness, and education to keep […]

    Happy Retirement Mike Sause

    {January 8th, 2024} by AMS

    Please join us in extending best wishes to Mike Sause who retired from AMS January 1st. His remarkable 40+years in the industry, marked by innovation and pioneering efforts, have left an indelible mark on the annuity and IMO space.

    iCapital Managing Director Scott Stolz discusses how annuities can benefit in a volatile market

    {January 8th, 2024} by iCapital

    iCapital Managing Director Scott Stolz dissects the evolution of annuities and its variations available today in a talk with iCapital Chief Investment Strategist Anastasia Amoroso Click HERE to view via iCapital

    Finseca sends a comment letter to the Department of Labor (DOL)

    {January 8th, 2024} by Finseca

    Finseca’s comment letter on the proposal to the DOL addresses the offensive and misleading language like “junk fees” to rationalize a third failed attempt to pursue a regulatory result that will limit consumer choice and access to the very advice millions more Americans need to achieve financial security. You can read the letter here.

    Integrity Deepens Offerings in Underserved Markets by Partnering with We The People Agency

    {January 8th, 2024} by Integrity Marketing Group, LLC

    Integrity Deepens Offerings in Underserved Markets by Partnering with We The People Agency       Agency founded by dynamic, energetic and visionary entrepreneurs enters next stage of growth through partnership designed to enhance holistic offerings for agents and clients   DALLAS – JANUARY 3, 2024 – Integrity Marketing Group, LLC (“Integrity”), a leading distributor […]

    Getting to know Wink: VA Ambassador

    {January 8th, 2024} by Wink's Intel Pros

    Peter is Wink’s VA Ambassador and the only thing more impressive than his knack for variable annuities (VAs) is his Australian accent. While he isn’t the first man to brave Wink’s day-to-day operations, he has more experience than most of the Wink staff combined. Duly-licensed and ready to take on the world, this Aussie is mixing […]

    NAIC ‘greatly disappointed’ in DOL diss of state annuity sales rules

    {January 3rd, 2024} by John Hilton

    The National Association of Insurance Commissioners reminded federal officials that the states are regulating annuity sales just fine and the Department of Labor should butt out. In a letter sent last week, the NAIC took the rare step of commenting on federal rulemaking. The DOL’s controversial Definition of an Investment Advice Fiduciary rule essentially extends fiduciary […]

    KKR Completes Acquisition of Remaining 37% of Global Atlantic

    {January 3rd, 2024} by KKR

    NEW YORK & HAMILTON, Bermuda–(BUSINESS WIRE)–KKR & Co. Inc. (NYSE: KKR) and The Global Atlantic Financial Group LLC (together with its subsidiaries, “Global Atlantic”) today announced the closing of the previously-announced transaction in which KKR is acquiring the remaining 37% of Global Atlantic, increasing KKR’s ownership to 100%. KKR acquired a majority of Global Atlantic […]

    New DOL Fiduciary Rule Will Be Crushed in Court: SIFMA

    {January 3rd, 2024} by Melanie Waddell

    The Securities Industry and Financial Markets Association urged the Labor Department on Tuesday to withdraw its new fiduciary rule proposal and warned that it “will not will not survive judicial scrutiny.” “Virtually the entire proposal is inconsistent” with the U.S. Court of Appeals for the Fifth Circuit’s decision, which overturned Labor’s 2016 fiduciary rule, “including the […]

    DOL Pushes Insurance Officials on Fiduciary Duty vs. Best Interest

    {January 3rd, 2024} by Melanie Waddell

    Labor Department attorneys bombarded insurance industry officials during the recent public hearings on Labor’s new fiduciary proposal about the difference between a fiduciary standard and that of a best-interest standard. The online hearings were held on Dec. 12 and 13. On Dec. 22, Labor released transcripts. Click HERE to read the full story via Think […]

    DOL Denies Second Request for More Time on Fiduciary Rule Comments

    {January 3rd, 2024} by Melanie Waddell

    The Labor Department has once again denied a request to extend the Jan. 2 deadline for comments on its new fiduciary rule proposal — this time from lawmakers. Seven Senate Democrats urged Labor on Dec. 21 to lengthen the comment period for feedback on the proposal, just weeks after Assistant Secretary of Labor for the […]

    Redacted contract-holder annual statements

    {January 3rd, 2024} by Sheryl J. Moore

    I am putting the finishing touches on my second book. As a part of that process, I am looking for redacted contract-holder annual statements that show fantastic gains on indexed annuities. If you have a couple, that you are interested in sharing, please shoot them my way. -sjm sjm@intelrockstar.com

    Broker Words—January 2024

    {January 3rd, 2024} by Stephen Howard

    It’s been my profound privilege to serve on the NAILBA Charitable Foundation board for a number of years, and help the foundation since its inception in 2002. Broker World was one of the original founding contributors and has continued to donate ever since. But I personally have been greatly rewarded beyond philanthropy by the amazing number of […]

    Pioneering Technological Advances In Life Insurance Underwriting

    {January 3rd, 2024} by Ken Leibow

    Life insurance underwriting technology has undergone significant transformations in recent years, reshaping the landscape of the insurance industry. This evolution is driven by the integration of advanced technologies such as artificial intelligence (AI), machine learning (ML), big data analytics, and the Internet of Things (IoT). These innovations are not only enhancing the efficiency and accuracy […]

    Annuity GLWBs And My 1999 Pontiac Grand Am

    {January 3rd, 2024} by Christine Dobby and Daniel Taub

    I remember when I was young and dumb and buying my first brand new car. I pulled into the dealership with my beat up 1999 Pontiac Grand Am and told them I was looking to trade it in for a brand-new Toyota. Yes, I was a big hitter! Again, because I was young and dumb, […]

    Allianz Life Insurance Company of North America 2024 Carrier Forecast

    {January 3rd, 2024} by Eric Thomas

    Many Americans are stressed out about their finances. With increased cost of living, market volatility and other economic factors, they are worried about how they will fare in retirement. In fact, at the end of 2023, 40 percent of Americans said they are more stressed than they were last year, according to the New Year’s Resolutions […]

    Mutual Trust Life Solutions 2024 Carrier Forecast

    {January 3rd, 2024} by Luke Cosme

    At the close of almost every year I say to myself that the coming year can’t possibly be as challenging as this one. Fast forward to the end of the next year and…2023 was certainly no different. Rapidly rising interest rates helped improve portfolio yields for the first time in a long time. But those […]

    Mutual of Omaha 2024 Carrier Forecast

    {January 3rd, 2024} by Randy Mousel and Michael “Slades” Sladek

    For 114 years, Mutual of Omaha has defined success by our ability to help people address their financial needs. Working with brokers, we have evolved to meet customers’ changing needs over generations, innovating and expanding into new markets to continue growing and serving even more people. As many of our brokers know, serving clients in […]

    Best’s Review Presents Guide to Understanding the Insurance Industry

    {January 3rd, 2024} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Best’s Review starts the new year with the publication of the Guide to Understanding the Insurance Industry as the January edition of the magazine. A high-level overview designed with students, new employees and prospects in mind, the Guide furthers the magazine’s mission to inform readers about the workings of the insurance industry, particularly in the United States. New […]

    As Americans Look Ahead to a New Year, Lincoln Financial Group Shares Recommendations for Turning Financial Resolutions Into Reality

    {January 3rd, 2024} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–With the new year approaching, people are setting resolutions with goals for exercising, reading, saving money and more. Financial planning is often high on the list when it comes to New Year’s resolutions – with the current economic environment impacting Americans’ specific financial goals. According to recent research by Lincoln Financial Group (NYSE: […]

    Fewer Americans are Optimistic About the Economy in 2024

    {January 3rd, 2024} by Allianz Life Insurance Company of North America

    MINNEAPOLIS–(BUSINESS WIRE)–Less than half of Americans think the economy will improve in 2024 while many Americans are keeping more money out of the market, according to the Q4 Quarterly Market Perceptions Study from Allianz Life Insurance Company of North America (Allianz Life) Just 47% of Americans say they think the economy will improve in 2024. […]

    Lincoln deal caps year of change at Osaic

    {January 3rd, 2024} by Bruce Kelly

    As it wraps up a year of furious change, Osaic Inc., the giant broker-dealer network of 10,500 financial advisors, looks as if it’s moving closer to an inevitable initial public offering in the next year or two. Click HERE to read the full story via InvestmentNews

    Labor gets an earful: 25 key moments from retirement advice hearings

    {January 3rd, 2024} by Tobias Salinger

    Two days of panels with critics and supporters of the Department of Labor’s “retirement security rule” proposal displayed the widely diverging views of the potential new regulation. Earlier this month, officials from the Labor Department’s Employee Benefits Security Administration engaged in spirited, substantive discussions with financial advisors, professional organizations, industry and consumer advocates and other […]

    Did insurtech live up to the hype in 2023?

    {January 3rd, 2024} by Doug Bailey

    The hype died, the venture capital money dried up, and 2023 might have been the year the insurtech business came face to face with reality, abandoning notions of massive technological revolutions, transformations, and disruptions, and settling into the cold, hard vagaries of the traditional insurance market and reasonable values. “I think by most measures and […]

    AI Could Keep the Life Underwriting Gears Moving: Brooke Vemuri

    {January 3rd, 2024} by Allison Bell

    Brooke Vemuri helps turn streams of data into life insurance, and she now sees a lot more variation in the gears, sprockets and cogwheels inside insurers’ application underwriting machinery. “Today, there’s so much variety in terms of how the application processes work,” Vemuri said in a recent interview. Click HERE to read the full story […]

    Getting Deeper Into Annuities

    {January 3rd, 2024} by John Stevenson

    If you’re an advisor trying to help more clients with annuities, and you also want to make sure you do it right, then going beyond the basics is important. I know we all want to make a commission on these contracts, or make clever moves to justify our fees, but a lot of times, if […]

    John Hancock CEO on saving lives with behavioral science

    {January 3rd, 2024} by Jen Frost

    Brooks Tingle, John Hancock CEO, joined Insurance Business from Insuretech Connect in Las Vegas to discuss how the life insurer is looking to behavioral science and drawing on gamification techniques used by casinos to help policyholders lead healthier lives. The ‘ding, ding, ding’ of slot machines, the aimless twists and turns of carpeted warrens, rowdy […]

    Life sales review: a 2023 sales dip should reverse in 2024, LIMRA says

    {January 2nd, 2024} by John Hilton

    Life insurance jumped into the spotlight with the COVID-19 pandemic. Converting that mortality awareness into life sales proved to be largely disappointing once the initial buying surge faded. Click HERE to read the full story via INN   Wink’s Note: View the latest life insurance industry sales trends via Wink’s Sales & Market Report, 3rd […]

    Here we go again!

    {January 2nd, 2024} by John Hilton

    With the Nov. 3 publication of the Retirement Security Rule, the Department of Labor embarked on its latest Sisyphean quest to extend fiduciary duty to annuity sellers. Regulators are expected to spend much of 2024 pushing the metaphorical boulder up the hill to get the rule on the books before the November presidential election. It […]

    Regulators lukewarm on illustrations rewrite in 2024

    {January 2nd, 2024} by John Hilton

    It is long overdue to update the life illustrations model regulation, agreed Sheryl Moore, CEO of Wink, Inc. and Moore Market Intelligence. “It is time to nip the illustration gamesmanship by the bud,” she said. “Indexed life didn’t exist when the life insurance illustration model regulation was adopted by the states. It’s time to reopen […]

    Annuity sales review: 2023 was great but 2024 could be even better

    {January 2nd, 2024} by John Hilton

    Sales of annuity products hit record highs throughout 2023 and ended the year riding a wave strong enough to raise expectations for 2024 and beyond. Favorable economic conditions is the biggest factor leading LIMRA to project strong growth for annuity sales going forward. Annuity sellers offer unique products to match differing economic trends. Click HERE […]

    Fidelity Moves Ahead With Efforts to Launch SoteriaRe

    {January 2nd, 2024} by Allison Bell

    Anew Fidelity Investments annuity reinsurance arm, Soteria Reinsurance, is getting closer to opening its doors. The Pembroke, Bermuda-based company recently hired Ari Lindner to be its president, and it’s now hiring a valuation actuary. Click HERE to read the story via ThinkAdvisor

    Total annuity sales break quarterly records

    {January 2nd, 2024} by Aspire Magazine

    Wink shares 3rd quarter sales results within fixed annuity, indexed annuity, and multi-year guaranteed annuity (MYGA) markets. Click HERE to read the full story via Aspire Magazine   

    NABIP will ‘go on the offense’ regarding public policy in 2024

    {January 2nd, 2024} by Susan Rupe

    The CEO of the National Association of Benefits and Insurance Professionals wants to see 2024 as the year in which the association is “responsive and not reactive.” Jessica Brooks-Woods took the helm of NABIP in September. She told InsuranceNewsNet her goal for the organization is to see it “go on the offense” regarding public policy […]

    Index crediting strategy: Which one is best for your clients?

    {January 2nd, 2024} by Susan Rupe

    When it comes to choosing an index crediting strategy, there is no one-size-fits-all approach, according to Jeff Barnes, EquiTrust regional vice president. Barnes presented a three-step approach to choosing the right index crediting strategy during a recent webinar held by the National Association for Fixed Annuities. “Different index crediting strategies thrive in different environments,” he […]

    If selling life insurance were easy, everyone would do it

    {January 2nd, 2024} by Joe Ross

    Most InsuranceNewsNet readers are well convinced of the value of life insurance — as they should be. Life insurance is an extraordinary financial product that helps ensure security and protection for loved ones and beneficiaries.   But life insurance’s many benefits and positives don’t mean that selling life insurance is easy. After all, if it were easy, everyone […]