Annuity Commission Money Can Pay for Income Guarantees: Marc Rowan
February 13, 2024 by Allison Bell
Offering fee-only annuities through retirement plan fiduciaries could free the cash needed to pay for lifetime income guarantees, a key annuity industry player said today.
Marc Rowan, the chief executive officer of Athene’s parent, Apollo Global Management, told securities analysts that a company like Apollo wants to take care of retirement savers’ investment risk, not their “longevity risk,” or the risk that they will live longer than expected.
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Wink’s Moore on the Market: My interpretation of this article:
Blah, blah, blah, blah, blah.
But “the holy grail of this business, in my opinion, is both simplification of and a much simpler promise of guaranteed lifetime income,” he said.
Blah, blah, blah. -sjm