Why Asset Managers Keep Buying Annuity Issuers
{January 18th, 2022} by Kerry Pechter
What is concerning are not so much the practices of pioneers of this business. More concerning are the ‘me-too’ players–smaller johnny-come-lately asset managers who want some of those billions flowing from desperate institutional investors. Click HERE to read the full story via RIJ
DPL Assembles Market Leaders Avantis Investors, Barclays and Security Benefit Life to Introduce Innovative Asset Allocation Option for RIAs
{January 18th, 2022} by DPL Financial Partners
LOUISVILLE, Ky.–(BUSINESS WIRE)–DPL Financial Partners (“DPL”), the leading turnkey insurance platform for registered investment advisors (RIAs), announced the introduction of a new and innovative U.S. equity index designed to deliver higher expected returns with lower volatility. The Avantis Barclays Volatility Control (“VC”) Index represents a first for Eduardo Repetto and Pat Keating of Avantis Investors, […]
What Financial Advisors Used To Do
{January 18th, 2022} by Bryce Sanders
Have you seen the promos for the new CBS series “Good Sam?” One line in the ads has her saying, “When you were in charge and dinosaurs ruled the Earth.” As a financial advisor today, you might wonder what life was like when the more experienced advisors in the office started in the business. Let’s […]
Avoid These 11 Mistakes In Complying With DOL Best Interest Rules
{January 18th, 2022} by John Hilton
The Department of Labor continues to tweak the rules governing sales of financial products with retirement dollars. Regulators are honing best-interest principles after President Joe Biden’s administration allowed a rule published by his predecessor to take effect in February 2021. The Investment Advice Rule has two main parts: a new prohibited transaction exemption allowing advisors […]
Advisor Misconduct Rises After PE Buyouts: Study
{January 18th, 2022} by Melanie Waddell
RIAs acquired by private equity firms had a 147% increase in the percentage of their advisors committing misconduct and a 200% increase in the average number of misconduct incidents after the ownership change, according to a just-released study. The research released by the University of Oregon examined whether ownership by private equity firms encourages or deters financial misconduct. […]
FINRA SVP says advisors play a crucial role as nation’s financial literacy plummets
{January 18th, 2022} by Justin L. Mack
Financial literacy in the United States is low. And things don’t look to be getting better anytime soon. Because of that, financial advisors play a crucial role in ensuring that the nation’s most vulnerable communities are protected against those who wish to take advantage of that lack of understanding, and shielded from making bad decisions […]
Prudential: 5 Reasons Parents Should Get Life Insurance
{January 18th, 2022} by Prudential Financial
NEW YORK, Jan. 13, 2022 (GLOBE NEWSWIRE) — Whether parents are experiencing life with a baby for the first time or have a full nest of young ones, protecting and supporting those children is a primary concern. While no one likes to think about a future they’re not in, it’s important for parents to figure […]
5 States Where Annuity Replacements Are Rare
{January 18th, 2022} by Allison Bell
Individual fixed annuity holders may be a lot more content with their contracts in some states than in others. In 2020, consumers in a typical state replaced about 28 annuity contracts for every 100 new contracts they purchased. Consumers in Utah were much quicker to replace their annuities: Issuers there replaced 35.2 contracts for every […]
Life Insurance Industry On Track For Record Premium Growth
{January 18th, 2022} by Doug Bailey
The U.S. life insurance industry is on track to post its fastest premium growth in nearly 20 years, according to S&P Global Market Intelligence Report. Released early last month, the report said strong consumer demand during the pandemic and a tailwind from a 12% overall expansion in premium sales in the third quarter of 2021 […]
Western & Southern Completes Acquisition of Fabric to Accelerate Digital Expansion
{January 18th, 2022} by Western & Southern Financial Group
CINCINNATI, Jan. 12, 2022 /PRNewswire/ — Western & Southern Financial Group has completed the acquisition of Fabric Technologies Inc. and its subsidiary, Fabric Insurance Agency LLC, which provide a fully digital life insurance platform and mobile app that is serving over 60,000 families and has placed billions of dollars in life insurance coverage. W&S and Fabric share a […]
Zurich shares top concerns of businesses in U.S. and Canada. Findings released as part of The Global Risks Report 2022
{January 18th, 2022} by Zurich North America
SCHAUMBURG, Ill., Jan. 12, 2022 /PRNewswire/ — Zurich North America has shared key concerns of businesses on risks likely to impact U.S. and Canada over the next two years. The findings were released this week as part of the 17th edition of the World Economic Forum (WEF) annual Global Risks Report 2022 (GRR). Zurich is a strategic partner in the development of the annual […]
Ameritas announces whole life insurance product revisions
{January 18th, 2022} by Ameritas
LINCOLN, Neb., Jan. 14, 2022 /PRNewswire/ — Ameritas has introduced enhancements to its whole life insurance products, creating additional options to help meet client needs while maintaining current product competitiveness. The four new whole life insurance products are Ameritas Access Whole Life, Ameritas Growth Whole Life, Ameritas Growth 10-Pay Whole life and Ameritas Value Plus Whole Life. The […]
New John Hancock Retirement report reveals surprising contradictions in how pandemic is affecting employees
{January 18th, 2022} by John Hancock
BOSTON, Jan. 11, 2022 /PRNewswire/ – John Hancock Retirement, a company of Manulife Investment Management, today announced the results of its Stress, Finances, and Well-Being report, the eighth annual survey of its retirement plan participants. As the effects of the pandemic have altered the American workforce in ways that continue to play out, this report is a snapshot […]
Women in the workplace: One in five expect later retirement due to pandemic
{January 18th, 2022} by Nationwide
COLUMBUS, Ohio, Jan. 12, 2022 /PRNewswire/ — The pandemic has shaken women’s confidence in retirement planning according to a recent Nationwide Retirement Institute® survey of employer-sponsored retirement plan participants and sponsors. About one in five (18%) women feel they are on the wrong track for retirement, and the same percentage expects to retire later than the originally planned due to […]
New Reinsurer “Martello Re” Launches with Backing of MassMutual, Centerbridge Partners and Brown Brothers Harriman
{January 18th, 2022} by Barings
HAMILTON, Bermuda and SPRINGFIELD, Mass. and CHARLOTTE, N.C. and NEW YORK, Jan. 12, 2022 /PRNewswire/ — Martello Re Limited (“Martello Re”), a licensed Class E Bermuda-based life and annuity reinsurance company with initial equity of $1.65 billion, has been launched with the financial support of Massachusetts Mutual Life Insurance Company (“MassMutual”), Centerbridge Partners, Brown Brothers Harriman, and a pre-eminent group of institutional investors […]
American Life Announces Inclusion of the Goldman Sachs Xenith Index to its Fixed Index Annuity Policy Holders
{January 18th, 2022} by Midwest Holding Inc
LINCOLN, Neb., Jan. 12, 2022 /PRNewswire/ — Midwest Holding Inc. (NASDAQ: MDWT), a technology-enabled, services-oriented annuity platform, announced today that its subsidiary American Life & Security (ALSC) will begin offering exclusively to American Life’s Fixed Index Annuity policy holders the Goldman Sachs Xenith Index. The Goldman Sachs Xenith Index is a multi-asset strategy that uses the anticipated macro regime, as identified by a […]
Advisor Internet Marketing Enters Into Strategic Relationship With Advisors Excel to Help Independent Advisors Grow Their Practice With Just An Internet Connection And A Cell Phone
{January 18th, 2022} by Advisors Excel
TUCSON, Ariz., Jan. 13, 2022 /PRNewswire/ — Advisor Internet Marketing (“AIM”), the first fully digital-based financial marketing organization, today announced they have entered into a strategic partnership with Advisors Excel, an industry leader. AIM is the first in the industry that specializes in providing digital client acquisition services to help independent financial advisors grow a profitable location-independent […]
Horace Mann to announce fourth-quarter and full-year 2021 financial results on Feb. 1
{January 18th, 2022} by Horace Mann
SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) plans to release its fourth-quarter and full-year 2021 results on Tuesday, Feb. 1, after the market closes. At that time, the quarterly news release and investor supplement will be available on the company’s website at investors.horacemann.com. Management will host a conference call to discuss the financial results on […]
Brighthouse Financial Announces Conference Call to Discuss Fourth Quarter and Full Year 2021 Results
{January 18th, 2022} 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, 2021, at 8:00 a.m. Eastern Time on Friday, February 11, 2022. The call will follow the issuance of […]
AIG to Report Fourth Quarter and Full Year 2021 Results on February 16, 2022 and Host Conference Call on February 17
{January 18th, 2022} by AIG
NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) will report financial results for the fourth quarter and full year ended December 31, 2021 after the market closes on Wednesday, February 16, 2022. AIG’s press release and financial supplement will be available in the Investors section of AIG’s website at https://www.aig.com. AIG will also host a conference […]
Best’s Review Examines How Life Insurers Are Handling Pandemic Developments
{January 18th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–Best’s Review looks at how the unexpected increase in pandemic-related deaths for working-age people has affected life insurers and how the industry is responding. Life insurers may look to investment gains and business diversification across segments to help balance the potential impending costs. Discover the outlook for the industry in “Life Insurers Not Free […]
American Equity Schedules Fourth Quarter 2021 Earnings Release, Conference Call and Webcast
{January 18th, 2022} by American Equity Investment Life Holding Company
WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL) announced today that it will release fourth quarter and full-year 2021 earnings and other financial results after the close of market on Thursday, February 17, 2022. The fourth quarter earnings release and financial supplement will be posted on the American Equity website at www.american-equity.com at […]
AM Best Comments on Credit Ratings of Massachusetts Mutual Life Insurance Company and Its Subsidiaries Following Launch of New Reinsurer
{January 18th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has commented that the Credit Ratings (ratings) of Massachusetts Mutual Life Insurance Company (MassMutual) (Springfield, MA) and its life/health subsidiaries, remain unchanged following the Jan. 12, 2022, announcement that it has launched a licensed Class E Bermuda-based life/annuity reinsurance company, Martello Re Limited (Martello Re). The launch of Martello Re, with an […]
American Life Announces Launch of S&P 500 ESG Index for the Fixed Annuity Space
{January 18th, 2022} by Midwest Holding Inc
LINCOLN, Neb., Jan. 5, 2022 /PRNewswire/ — Midwest Holding Inc. (NASDAQ: MDWT), a technology-driven, life and annuity platform, today announced that its subsidiary American Life & Security Corp has launched the industry’s first ever Fixed Annuities based on the S&P 500 ESG Index. The S&P 500 ESG Index is comprised of a subset S&P 500 companies built to meet the increasing needs of […]
Author: 2022 Is The Year Consumers Discover Value Of Annuities
{January 18th, 2022} by EIN Presswire
Harry N. Stout, author and podcast host at the FinancialVerse says that 2022 will be the year that consumers proactively reach out for information and advice to explore the solutions that annuity products can provide to address some of their financial challenges. Here are the forces Stout says will shape the annuity market: > The large number of individuals […]
These Are The Ten Biggest Life Insurance Companies
{January 18th, 2022} by INNsider Pro
The U.S. insurance industry recorded net premiums of $1.28 trillion in 2020, with life/annuity insurers accounting for 49%, according to the data from S&P Global Market Intelligence. Moreover, there were 5,929 insurance companies in the U.S. in 2020, including 843 life/annuities and 995 health companies. Click HERE to read the full story via INN
MassMutual flies into the ‘Bermuda Triangle’
{January 18th, 2022} by Kerry Pechter
MassMutual has all the pieces–a life insurer that issues fixed annuities, a stake in a Bermuda reinsurer, a big in-house asset manager, and various partnerships–that should enable it to compete with Athene and Global Atlantic. Click HERE to read the full story via RIJ
Breaking News via Retirement Income Journal
{January 18th, 2022} by Editorial Staff
DPL and Security Benefit add ‘total return’ index option to FIA; Americans expect market volatility in 2022: Allianz Life; Lincoln redesigns participant-facing website. Click HERE to read the full story via RIJ
4 Instances Where Whole Life Insurance Can Come in Handy
{January 18th, 2022} by iCrowdNewswire
A whole life insurance policy is a form of permanent life insurance that covers the policyholder for their lifetime. In addition to a guaranteed death benefit payout, the policy also accrues cash value with a guaranteed rate of return. The cash value that accrues in a whole life insurance policy can be used during your […]
PE’s big catch: RIAs. Is the haul sustainable?
{January 18th, 2022} by Lynnley Browning
Shannon Eusey first sketched out her idea for a financial planning firm when she was studying for an MBA and working at a small wealth management firm in Los Angeles. In a 25-page paper for her “Entrepreneurship and Venture Initiation” class at UCLA’s Anderson School of Management in 2001, she wrote a business plan for […]
Fortitude Re Completes Acquisition of Third Party Administrators from AIG
{January 11th, 2022} by Fortitude Re
JERSEY CITY, N.J.–(BUSINESS WIRE)–Fortitude Group Holdings, LLC, the parent company of Bermuda’s largest multi-line reinsurer (“Fortitude Re”), announced today the acquisition of Fortitude Life & Annuity Solutions, Inc. (“FLAS”), a licensed life and annuity TPA, and Fortitude P&C Solutions, Inc. (“FPCS”), a licensed Property and Casualty TPA, from AIG. These transactions are the final step […]
Fortitude Re Enhances Reinsurance Capabilities
{January 11th, 2022} by Fortitude Re
Fortitude Re Enhances Reinsurance Capabilities Forms new Bermuda multi-line reinsurer Acquires U.S. life insurer Obtains Reciprocal Jurisdiction Reinsurer status January 06, 2022 09:30 AM Eastern Standard Time HAMILTON, Bermuda & JERSEY CITY, N.J.–(BUSINESS WIRE)–Fortitude Re announced today the formation of a Bermuda multi-line reinsurer and the acquisition of a U.S. life insurer. In addition, Fortitude […]
Jackson to Report Fourth Quarter and Full-Year 2021 Financial Results
{January 11th, 2022} by Jackson Financial Inc.
LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc.1 (NYSE: JXN) will announce financial results for the fourth quarter and full year ended December 31, 2021 after market close Wednesday, March 2, 2022. Jackson’s press release and supplemental financial materials will be available at investors.jackson.com. Jackson will host a conference call and webcast Thursday, March 3, 2022 at 10 a.m. ET […]
New “2022 Wealth & Wellness Index” Shows Many Americans Less Confident in Their Finances and the Economy Entering Third Year of the Pandemic
{January 11th, 2022} by Empower
REDWOOD SHORES, Calif.–(BUSINESS WIRE)–As we embark on the third year of the COVID-19 pandemic, the U.S. economy is making a remarkable comeback after enduring a tumultuous two years. Roughly 80% of the jobs lost to the pandemic have been regained, unemployment rates have normalized and today’s jobseekers have the upper hand. Yet, Americans’ views of their […]
New Year, Same Volatility: Most Americans Expect a Recession in the Near Future
{January 11th, 2022} by Allianz Life
MINNEAPOLIS–(BUSINESS WIRE)–Despite the start of a new year, a majority of Americans remain worried about market volatility, with over three-quarters saying they expect the market to be very volatile in 2022. These findings from the 2021 Q4 Quarterly Market Perceptions Study from Allianz Life Insurance Company of North America (Allianz Life), underscore the lingering worries […]
Leading BGA in the Life and Annuity Market (PRNewsfoto/Specialty Program Group)
{January 11th, 2022} by Specialty Program Group
SUMMIT, N.J., Jan. 5, 2022 /PRNewswire/ — Specialty Program Group, LLC (SPG), a leading operator of specialty insurance brokerage firms and underwriting facilities, announced today the acquisition of the assets of Brokers’ Service Marketing Group II, LLC (BSMG) as of December 15, 2021. BSMG is a leading life and annuity brokerage general agency (BGA) serving advisors and financial institutions. The company was […]
Fidelity National Financial Announces Executive Management Transition
{January 11th, 2022} by Fidelity National Financial, Inc.
JACKSONVILLE, Fla., Jan. 5, 2022 /PRNewswire/ — Fidelity National Financial, Inc.® (NYSE: FNF) (“FNF” or the ‘Company’), a leading provider of title insurance and transaction services to the real estate and mortgage industries and a leading provider of annuity and life insurance products through the Company’s wholly-owned subsidiary, F&G, announced today that Mike Nolan, the Company’s current President, will assume the role […]
USAA Life Insurance Company Expands Availability of New Digital Life Insurance Product
{January 11th, 2022} by USAA
SAN ANTONIO, Jan. 10, 2022 /PRNewswire/ — In response to increasing interest in a simplified application process and lower prices, USAA Life Insurance Company (USAA Life) today announced its new digital life insurance product that requires no medical exam is now available in 47 states. According to USAA’s “Life Can’t Wait” survey, monthly cost and no medical exam requirement […]
Midwest Holding Announces Strategic Asset Management Initiative with ORIX Corporation USA
{January 11th, 2022} by Midwest Holding Inc
LINCOLN, Neb., Jan. 10, 2022 /PRNewswire/ — Midwest Holding Inc. (Midwest,NASDAQ: MDWT), a technology-driven life and annuity platform, announced the closing of a majority ownership sale of a consolidated reinsurance facility to a subsidiary of ORIX Corporation USA (ORIX USA). Under the terms of the agreement, a subsidiary of ORIX USA purchased approximately 70% of Seneca Incorporated Cell, LLC 2020-01 (SRC1), a Midwest consolidated reinsurance cell. […]
Highland Capital Brokerage Acquires Hallett Financial Group And Quotacy
{January 11th, 2022} by Highland Capital Brokerage
BIRMINGHAM, Ala., Jan. 10, 2022 /PRNewswire/ — Highland Capital Brokerage, a national life insurance and annuity distribution company and subsidiary of Advisor Group, today announced the acquisitions of Hallett Financial Group, an independent insurance brokerage agency based in Minneapolis, as well as Hallett Financial’s sister company, Quotacy, an insuretech firm. The acquisitions of Hallett Financial and Quotacy – […]
Milliman survey reveals 28 out of 34 companies use or plan to use accelerated underwriting in term life insurance
{January 11th, 2022} by Milliman
SEATTLE, Jan. 4, 2022 /PRNewswire/ — Milliman, Inc., a premier global consulting and actuarial firm, just released the results of its biennial broad-based survey on term life insurance. The study surveys 34 term life insurance companies and focuses on current topics relevant to a range of these products. Key findings of the study include: Currently, 26 of the […]
Ohio National introduces new whole life insurance series offering maximum death benefit for the money
{January 11th, 2022} by Ohio National
Newly launched whole life insurance portfolio is designed to provide individuals and businesses the protection they need at a price they can afford Products reflect Ohio National’s 113-year legacy of offering quality, cost-effective coverage that lasts a lifetime CINCINNATI, Jan. 04, 2022 (GLOBE NEWSWIRE) — Ohio National is pleased to introduce its latest line of […]
Primerica Marks $900B Of Term Life In Force At End Of 2021
{January 11th, 2022} by Primerica
Duluth, GA, Jan. 4, 2022 – Primerica, a leading provider of financial services to families throughout the United States and Canada, will announce projected year-end production results at its annual gathering of senior sales force leaders. The meeting serves as a kickoff to the year to discuss opportunities ahead and celebrate achievements. “During another year […]
Monument Re Completes Acquisition of Variable Annuity Portfolio From Athora Ireland plc
{January 11th, 2022} by Monument Re Limited
HAMILTON, Bermuda–(BUSINESS WIRE)–Monument Re announced today that its Irish subsidiary Monument Life Insurance DAC has completed the acquisition of a closed-block portfolio of variable annuities from Athora Ireland plc, a wholly-owned subsidiary of Athora Holding Ltd. The portfolio has been in run-off since 2017. Financial terms of the transaction were not disclosed. In accordance with […]
AQUARIAN CLOSES ACQUISITION OF PAVONIA LIFE INSURANCE COMPANY OF NEW YORK
{January 11th, 2022} by Aquarian Holdings
January 4, 2021, New York – Aquarian Holdings (“Aquarian”) today announced that it has closed its acquisition of Pavonia Life Insurance Company of New York (“Pavonia”). Aquarian announced earlier this year that it had signed a definitive agreement to acquire Pavonia from a wholly owned U.S. subsidiary of Enstar Group Limited. “We are excited to […]
Investors Heritage Brings FIA With ESG Index To California, Delaware
{January 11th, 2022} by Investors Heritage
January 4, 2022, Frankfort, Kentucky – Investors Heritage Life Insurance Company (“Investors Heritage”) announced today that it would now be offering its first fixed indexed annuity in California and Delaware. Investors Heritage launched the Heritage Income Advantage (“HIA”) in April 2021 to help policyholders protect assets from market downturns, grow retirement savings, and secure a […]
Allianz Completes Reinsurance Deal For $35B FIA Portfolio
{January 11th, 2022} by German Equity Markets (Web Disclosure) via PUBT
Allianz Life announced today that it has completed the reinsurance agreement with affiliates of Sixth Street, including Talcott Resolution Life Insurance Company, and Resolution Life, for a $35-billion fixed index annuity portfolio. The transaction, announced on December 3, unlocks $4.1 billion in value and frees up regulatory capital for Allianz. Click HERE to read the […]
F&G’s Parent to Get New CEO: Personnel Moves
{January 11th, 2022} by Allison Bell
The board of Fidelity National Financial — the Jacksonville, Florida-based title insurance company that acquired F&G, a major annuity issuer — has named Mike Nolan to be the company’s new CEO. Nolan has been Fidelity National’s president since 2016. He has been working for Fidelity National since 1983. Randy Quirk, the current CEO, will become […]
When Was The Term ‘Wirehouse’ First Used?
{January 11th, 2022} by James Rogers
Morgan Stanley, Wells Fargo, UBS and Merrill Lynch all compete fiercely on technology today, but the roots of the term “wirehouse,” which is often used to describe them, reach back to a system from almost 200 years ago. Click HERE to read the full story via Financial Advisor IQ
Blockchain Technology and Life Insurance
{January 11th, 2022} by Steve Gibbs
In an environment of fast-emerging crypto and blockchain technology, searches like “Bitcoin and Life Insurance,” are producing a wide range of content and topics. Concerns ranging from the likelihood of life insurance companies moving toward accepting Bitcoin, to the involvement of major life insurers in purchasing large amounts of Bitcoin, to the increasing investments of […]
4 Top Threats Facing Investors in 2022
{January 11th, 2022} by Melanie Waddell
The North American Securities Administrators Association released Monday its annual list of top investor threats and urged investors to use caution with popular and volatile unregulated investments. “The most common telltale sign of an investment scam is an offer of guaranteed high returns with no risk. It is important for investors to understand what they […]
Fortitude Re, Midwest Holdings pursue ‘triangle’ strategies
{January 11th, 2022} by Editorial Staff
Fortitude Re, a reinsurer backed by The Carlyle Group, a $276 billion private equity firm, is completing its annuity-reinsurance-asset management strategy. Midwest Holdings’ life insurer, American Life, has launched a new indexed annuity pegged to an ‘ESG’ index. Click HERE to read the full story via RIJ
Pacific Life to pay $3 million for doing unlicensed business
{January 11th, 2022} by InvestmentNews
Pacific Life Insurance will pay a penalty of $3 million for violating New York insurance law in connection with the company’s pension risk transfer business. Click HERE to read the full story via InvestmentNews
Regulators Continued Targeting Annuity Sales In 2021
{January 11th, 2022} by Ayo Mseka
Regulators were busy in 2021 and annuity sales remained a prime target. Controversial rules put forth by the Securities and Exchange Commission and New York State regulators attracted plenty of attention and readers. Meanwhile, the Department of Labor made noise about taking another stab at a fiduciary standard. Click HERE to read the full story […]
2022: The Year Consumers Discover Annuities
{January 11th, 2022} by Harry N. Stout
Have you ever experienced the solution to a problem being in plain sight, only to pass over it? The time for consumers to notice the obvious is coming for annuity products in 2022. This will be the year that consumers proactively seek information and advice to explore the solutions that annuity products can provide, to […]
SEC 6 Big Rules the SEC Plans to Tackle in 2022
{January 11th, 2022} by Melanie Waddell
The Securities and Exchange Commission’s fall regulatory agenda lists numerous rules the agency plans to propose or establish in the new year. Before year-end, the agency proposed rules for comment on money market funds as well as proxy voting advice. The SEC issued on Dec. 17 sweeping guidance on its Form CRS rule, but SEC […]
NAILBA May Merge With Finseca
{January 11th, 2022} by Allison Bell
Finseca — the group formed from the merger of the Association for Advanced Life Underwriting with GAMA International — may combine with the National Association of Independent Life Brokerage Agencies. NAILBA and Finseca announced today that their boards have voted to start the process of looking into a merger. “This process is the culmination of […]
Ohio National introduces new whole life insurance series offering maximum death benefit for the money
{January 11th, 2022} by Ohio National Financial Services
Newly launched whole life insurance portfolio is designed to provide individuals and businesses the protection they need at a price they can afford Products reflect Ohio National’s 113-year legacy of offering quality, cost-effective coverage that lasts a lifetime CINCINNATI, Jan. 04, 2022 (GLOBE NEWSWIRE) — Ohio National is pleased to introduce its latest line of […]
Tax Code Changes Should Buoy Life Sales: OneAmerica’s Dennis Martin
{January 11th, 2022} by Allison Bell
Dennis Martin is president of individual life and financial services at OneAmerica. He’s in charge of the Indianapolis-based company’s efforts to help individual clients and families protect themselves against mortality and longevity risk, and to use permanent life insurance in long-term financial planning arrangements. The University of Manitoba alumnus has a bachelor’s degree in statistics […]
Apollo Completes Merger with Athene and Finalizes Key Governance Enhancements
{January 4th, 2022} by Apollo
NEW YORK, Jan. 03, 2022 (GLOBE NEWSWIRE) — Apollo and Athene today announced the successful completion of their merger under Apollo Global Management, Inc. (NYSE: APO), a high-growth alternative asset manager with asset management and retirement services capabilities. “Apollo and Athene are world-class franchises that have flourished as strategic partners, and we expect the full alignment achieved by our […]
Horace Mann completes acquisition of Madison National Life Insurance Company
{January 4th, 2022} by Horace Mann Educators Corporation
SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) announced today that it has closed the acquisition of Madison National Life Insurance Company, Inc., a provider of group life, disability and specialty health insurance for educators and public sector employees. The transaction was funded with cash on hand and additional borrowings on the company’s revolving credit facility. […]
CORRECTING and REPLACING Reliance Standard Acquires Standard Security Life Insurance of New York
{January 4th, 2022} by Reliance Standard Life Insurance Company
PHILADELPHIA–(BUSINESS WIRE)–Please replace the release with the following corrected version due to multiple revisions. The updated release reads: RELIANCE STANDARD ACQUIRES STANDARD SECURITY LIFE INSURANCE OF NEW YORK Expands to become leading New York statutory disability insurer As announced in April, Reliance Standard Life Insurance Company (Reliance Standard), a member of the Tokio Marine Group, […]
T. Rowe Price Completes $4.2B Acquisition Of New York Investment Firm
{January 4th, 2022} by Baltimore Sun (MD)
T. Rowe Price Group has completed its planned acquisition of New York-based Oak Hill Advisors for $4.2 billion, making its first big expansion into private markets as it looks to grow beyond its better-known mutual fund retirement business. The Baltimore-based money management firm said Wednesday it acquired 100% of the equity of Oak Hill, an […]
Allianz Life Insurance Company of North America 2022 Carrier Forecast
{January 4th, 2022} by Jason Wellmann
Today’s world is completely on-demand. We can have any type of food delivered to our door in 30 minutes or paper towels on your front steps within two hours. And this expectation for getting things on demand, fast and efficiently, is no different when it comes to something as complex as life insurance underwriting. Click […]
Mutual of Omaha 2022 Carrier Forecast
{January 4th, 2022} by Tess Grace and Randy Mousel
It’s often said challenges reveal character. At Mutual of Omaha, our customer-centric purpose and talented associates have enabled our company to continue navigating one of the most challenging periods in our 112-year history. Despite the ongoing presence of the COVID-19 pandemic, we continue to stand strong, helping our customers stay in their homes, keep their […]
Mutual Trust Life Insurance Company 2022 Carrier Forecast
{January 4th, 2022} by Luke Cosme
At this time last year, I did not have “redesign your entire product portfolio for the second time in three years” on my 2021 bingo card. However, as the year began and the changes to IRC 7702 came to light, plans changed and we all set out, excited to see what the future held for […]
Ohio National 2022 Carrier Forecast
{January 4th, 2022} by Barbara A. Turner
In November 2020, I wrote that 2020 was a year that no one saw coming. We had experienced a global pandemic, continued low interest rates and increased market volatility. Many believed that things had to improve for 2021, that the pandemic would wind down, and the new year would bring great things to our industry […]
What If
{January 4th, 2022} by David J. Murphy
The financial services industry is often focused on helping people to both get more and keep more. Our mission is aligned with helping people achieve their dreams. We also help people prove their love by providing for, and protecting, their families. What if we all improved our ability to help people prove their love by giving more? Click […]
New Lifetime Annuities in 401(k) Plans Could Cut Advisors Out of the Picture
{January 4th, 2022} by Lewis Braham
One of the primary reasons many retirees seek out financial advice is to convert their savings into a steady stream of income that can support their current lifestyles for the rest of their days. That’s why, to some advisors, the news this November that State Street Global Advisors launched a deferred lifetime income annuity within the University […]
Ric Edelman Reveals His 22 Predictions for 2022
{January 4th, 2022} by DACFP
GREAT FALLS, Va.–(BUSINESS WIRE)–Ric Edelman, one of the most prominent thought leaders in the investment advisory field and founder of the Digital Assets Council of Financial Professionals, has revealed his 22 Predictions for 2022. “DACFP is committed to educating financial advisors about blockchain and digital assets, and helping them understand where this new asset class is headed […]
Best books for financial advisors in 2021
{January 4th, 2022} by Brian Wallheimer
Financial planning and advising requires a wide range of skills, from technical and investment knowledge to business management and people skills. We asked advisors what books, read in 2021, made the most impact for them professionally. Answers included books on money management, to those on psychology, goal-setting and philosophy. Scroll through to see what inspired […]
Meme madness, 68 new S&P highs in superlative 2021
{January 4th, 2022} by Matt Turner
Superlatives followed one after another in 2021’s wild ride for U.S. stock investors. The most all-time highs in 26 years. Triple-digit rallies in some small caps thanks to retail-trader frenzies. A $1 trillion rout after China cracked down on some of its biggest companies. In a year marked by a waning pandemic, new COVID-19 variants, supply chain […]
Now Is the Time to Forge a New Social Contract and Future-Proof Retirement
{January 4th, 2022} by Transamerica Center for Retirement Studies
LOS ANGELES, Dec. 16, 2021 /PRNewswire/ — Almost four in 10 people globally are concerned about running out of money in retirement (38 percent global, 39 percent U.S.), according to a report released today. The New Social Contract: Future-Proofing Retirement explores the impacts of the COVID-19 pandemic and offers detailed recommendations for improving retirement security. The report is based […]
Market Volatility Caused By Pandemic Expands Interest In Annuities
{January 4th, 2022} by WTVR- TV (Richmond VA(
Fidelity Investments recently introduced a new Guaranteed Income Direct platform that companies can offer to employees. The annuity stays within the company, allowing savers to take the money in their 401k and turn it into monthly payments for life, no matter what happens to the market. “It is basically transferring those assets over to the […]
ACLI: Pennsylvania Passes Annuity Sales Rules
{January 4th, 2022} by Targeted News Service
Legislation signed recently by Pennsylvania Governor Tom Wolf enhances protections for consumers seeking lifetime income from annuities. Pennsylvania is the 19th state to adopt a measure that implements the “best interest of consumer enhancements” in the National Association of Insurance Commissioners (NAIC) Suitability in Annuity Transactions Model Regulation. The new laws and regulations also align […]
What’s On The Minds Of Global Life Insurance Executives? A Lot!
{January 4th, 2022} by Kristen Gillis
Technology was clearly the standout challenge among insurers in 2021 as COVID-19 pushed digital distribution adoption as the way to achieve sales success. Low interest rates, excess mortality and regulation are also high on the list of what executives are focusing toward in this time of risk and uncertainty. Going forward, the pandemic may stand […]
Indiana life insurance CEO says deaths are up 40% among people ages 18-64
{January 4th, 2022} by Margaret Menge
(The Center Square) – The head of Indianapolis-based insurance company OneAmerica said the death rate is up a stunning 40% from pre-pandemic levels among working-age people. “We are seeing, right now, the highest death rates we have seen in the history of this business – not just at OneAmerica,” the company’s CEO Scott Davison said […]
Bob Doll’s predictions for 2022
{January 4th, 2022} by Brittney Grimes
Bob Doll, chief investment officer at Crossmark Global Investments, has released his 2022 predictions for the finance industry, ranging from good earnings to rising inflation and interest rates. Click HERE to read the full story via InvestmentNews
10 Women in Fintech You Should Know About in 2022
{January 4th, 2022} by Vrinda Johnson
Only 12% of global FinTech founders and co-founders are women, and only 6% of FinTechs have female CEOs. Not only are these numbers alarmingly low, but they are jarring given that funding for women-founded startups grows twice as fast as that for men. While the small percentage of women in FinTech is a constant topic […]
Will All Annuity Issuers Move to Bermuda?
{December 28th, 2021} by Allison Bell
Many Americans who are planning for retirement would love to live in Bermuda, and so would many of the life insurers that provide their annuities. This raises a critical question that has helped shape annuity issuer coverage this year and will continue to shape issuer coverage in 2022: Will all of the publicly traded U.S. […]
AM Best Affirms Credit Ratings of Nationwide Mutual Insurance Company and Its Key Operating Subsidiaries
{December 28th, 2021} 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 Rating (Long-Term ICR) of “aa-” (Superior) of the members of Nationwide Group (Nationwide). Concurrently, AM Best has affirmed the FSR of A+ (Superior) and Long-Term ICR of “aa-” (Superior) of Nationwide Life Insurance Company and its subsidiaries, […]
Chubb and Wharton Study Examines Ultra-High-Net-Worth Individuals’ Preferences on Financial Advising and Investment Management
{December 28th, 2021} by Chubb
WHITEHOUSE STATION, N.J., Dec. 21, 2021 /PRNewswire/ — Chubb and The Wharton School of the University of Pennsylvania have released a new research report that examines differences in how wealth managers and ultra-high-net-worth (UHNW) individuals evaluate assets and coordinate risk management activities. The study, which included a survey of 100 UHNW investors, family office members, and key financial decision […]
Lincoln Financial Group Named to Dow Jones Sustainability Index for Sixth Consecutive Year
{December 28th, 2021} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE:LNC) today announced that the company has been named to the prestigious Dow Jones Sustainability Index (DJSI) North America for the sixth consecutive year. This index recognizes companies that demonstrate leadership in environmental, social and governance (ESG) performance, and signifies Lincoln Financial’s continued commitment to corporate responsibility and sustainability. “At Lincoln, integrity, optimism […]
Insurance Is Overdue For Digital Transformation
{December 28th, 2021} by Jan Beranek
Simplicity can be a gold mine for insurers. Conditioned by excellent customer experiences in more forward-thinking verticals, consumers want insurance products they can easily understand, buy and use. Disruptive insurtechs and innovative incumbents that can harness the technology required to satisfy this demand are raking in huge revenues, and will continue to do so in […]
Top 10 Annuity Stories Of 2021: InsuranceNewsNet
{December 28th, 2021} by John Hilton
Annuities went through a difficult year in 2020 and it was reflected in the news coverage. The pandemic effects, combined with the persistent low-interest-rate environment and ever-changing regulatory landscape, made annuity sales a difficult proposition for many. The good news is the need remained strong among Americans who received a lesson in the value of […]
Inflation Seen As Biggest Risk To Americans’ Retirement Plans In 2022
{December 28th, 2021} by Ayo Mseka
Although Americans say they worried the most about the COVID-19 pandemic in 2021, rising inflation is now seen as the biggest risk to their retirement plans. This is according to the annual New Year’s Resolutions Study conducted by Allianz Life Insurance Company of North America (Allianz Life). Nearly half (48%) of respondents identified the pandemic […]
Thrivent’s Carolyn Armitage: The Resolution Advisors Should Make for 2022
{December 28th, 2021} by Jeff Berman
As head of Thrivent Advisor Network (or TAN) since June, Carolyn Armitage’s wide experience in the wealth management industry is providing Thrivent’s new independent RIA with strategic guidance that will enable the next phase of its development. Before joining TAN, Armitage served as managing director at an investment bank and consulting firm Echelon Partners, starting […]
Alva Lee Struthers Discussed the Implications of Physical Traits: 100 Years Ago in Insurance
{December 28th, 2021} by The National Underwriter Life Insurance Edition Staff
Here is an article that appeared in the Dec. 29, 1921, issue of The National Underwriter Life Insurance Edition. Seattle—The December meeting of the Seattle Association was featured by a scientific treatise of salesmanship by Alva Lee Struthers, a vocational expert from Vancouver, B.C. The speaker analyzed the selling process and made clear that there […]
Our New Year’s Creed: 100 Years Ago in Insurance
{December 28th, 2021} by Darby A. Day
Here is an article that appeared in the Dec. 29, 1921, issue of The National Underwriter Life Insurance Edition. We desire to radiate Prosperity, Courage and without We desire to Cheerfulness, Sincerity, Good Will. We wish to live hate, whim, jealousy, envy or fear. We wish to be simple, honest, natural, frank, clean in mind […]
Federal Crash Spotters Eye Life Insurers’ ‘Reach for Yield’
{December 28th, 2021} by Allison Bell
The federal government’s financial crash spotters seem to be worrying less about the possible effects of COVID-19 deaths on U.S. life insurers and more about the possible effects of low interest rates. The Financial Stability Oversight Council put a half-page section on life and annuity issuers in its 2021 annual report. Click HERE to read […]
COVID-19 Really Has Powered Up Life Sales: Idea File
{December 28th, 2021} by Allison Bell
Jake Tamarkin, the founder of Everyday Life, an online life insurance selection system, says the conventional wisdom is true: The COVID-19 pandemic really has had a big, obvious effect on consumers’ interest in life insurance. Tamarkin started out by getting a bachelor’s degree from the Berklee College of Music, then a master’s degree in business […]
Service Not Fully Understood: 100 Years Ago in Insurance
{December 28th, 2021} by The Editors of The National Underwriter Life Insurance Edition
Here is an article that appeared in the Dec. 29, 1921, issue of The National Underwriter Life Insurance Edition. If more people in high places just understood life insurance better they would get back of life agents even more strongly than they do now. It is the desire of nearly every leader, whether he be […]
Pushing Thrift Week; Life Insurance Prominent: 100 Years Ago in Insurance
{December 28th, 2021} by The National Underwriter Life Insurance Edition Staff
Here is an article that appeared in the Dec. 29, 1921, issue of The National Underwriter Life Insurance Edition. In the “National Thrift Week” to be observed Jan. 17-23, life insurance is given a prominent place, the third day of the campaign being “Life Insurance Day.” This movement is fostered by the Y.M.C.A. in cooperation […]
Sailstad Case Update: 100 Years Ago in Insurance
{December 28th, 2021} by The National Underwriter Life Insurance Edition Staff
Here is an article that appeared in the Dec. 29, 1921, issue of The National Underwriter Life Insurance Edition. Interest has again been aroused in underwriting circles in the case of E.J. Sailstad, president of the Multitone Manufacturing Co., Eau Claire, Wis., who was supposed to have burned to death at Lake Nebagamon, Wis., in […]
Guardian Posts 2022 Dividend Rate
{December 28th, 2021} by Allison Bell
The Guardian Life Insurance Co. and TIAA have announced rates for extra 2022 payouts. Guardian says it will base dividends for eligible individual life insurance policyholders on a dividend interest rate of 5.6%. Click HERE to read the full story via ThinkAdvisor
We Need the AIs: Paul Chong
{December 28th, 2021} by Allison Bell
Paul Chong could help hundreds of thousands of Americans live well in retirement. Chong is senior vice president of retirement plan services at CUNA Mutual, a policyholder-owned insurer based in Madison, Wisconsin. CUNA Mutual works with retirement plans that serve about 300,000 employees and have a total of $20 billion in retirement plan assets. Click […]
The 4% Rule Is Dead. What’s an Advisor to Do?
{December 28th, 2021} by Michael Finke
A new Morningstar report has resurrected debate about the safety of the 4% withdrawal rate in a world of low bond yields and high stock valuations. Plugging more realistic portfolio returns into a Monte Carlo simulator reduces the safe withdrawal rate (10% failure) to 3.3%. The report makes the very important point that fixed withdrawal rates aren’t really […]
Why Fixed Annuities?
{December 28th, 2021} by Paul Garofoli
Clients who have attempted their own research on individual annuities may have encountered conflicting and sometimes negative information. With so much confusion surrounding annuities and the contrasts between differing types, it can be difficult to help clients understand whether they are the right addition to their retirement portfolio. However, with a little context and explanation, […]
MDRT Survey Shows More Focus on Understanding Finances
{December 28th, 2021} by Charles K. Hirsch, CLU
MDRT Survey Shows More Focus on Understanding Finances YouGov conducted a recent study of more than 3,000 United States adults, with an eye to gauging their economic outlook since the COVID‐19 pandemic has forced so many people into a position of re-examining their financial situations and better understanding the decisions they’ve made and better strengthening […]
Are Polices Making Annuity Issuers Leave the Country?
{December 28th, 2021} by FINSUM
The Biden administration has put a number of new policies that are affecting annuities, and while some of them may be unintentional a number of companies may be moving to offshore havens to escape the pressure. Annuity issuers are being acquired by private companies and then becoming nomadic firms that are mainly housing themselves in […]
Outlook For Life Insurance Shoppers In 2022
{December 28th, 2021} by Amy Danise
Life insurance buyers kept insurers busy in 2021. A sales growth record was set in quarter two and then again in quarter three to levels not seen since 2007, according to LIMRA, an industry-funded financial services research company. Life insurance sales growth increased 18% during the first three quarters of 2021, and all types of […]
Reinstating ‘fiduciary rule’ would hurt underserved communities: Opinion
{December 28th, 2021} by Mario H. Lopez, Opinion Contributor
As a first-generation American who grew up in a low-income neighborhood, I know the challenges that working families face in building a solid financial future for themselves. So, when the federal government moves to impose rules that could hurt the ability of many Americans to save for their retirement, it is particularly dismaying. Click HERE […]
Best of Barron’s Retirement: Annuities in Your 401(k), the ‘4% Rule’, and Retiring on Dividends
{December 28th, 2021} by Neal Templin
Retirement is a lot more complicated than it used to be. The popularity of 401(k) savings plans has turned millions of Americans into their own pension plan managers. Retirees must find suitable investments in an era of record-low rates and frothy markets. They must spend down their assets in a tax-efficient manner. And of this […]
A Conversation with Lee Freitag
{December 28th, 2021} by P.E. Kelly
Longevity has thrown a monkey-wrench into many of our assumptions about building adequate and sustainable income for clients. The prospect of outliving one’s assets, running out of money before running out of breath, has become a frightening possibility for many. Moreover, the plans we utilize to help build sustainable portfolios, starting with a once reliable […]
Capped vs. Uncapped Indexed Annuity Strategies
{December 21st, 2021} by Allison Bell
Some financial professionals may eat, drink and breathe annuity contract provisions. They know everything about every annuity contract feature since the Egyptians developed hieroglyphics. Some other people in and around the world of annuities, such as new agents, or people in support services roles, may just be trying to keep their heads down and not […]
How Does Life Insurance Work for Smokers?
{December 21st, 2021} by iQuanti
NEW YORK, December 17, 2021 (Newswire.com) – iQuanti: Obtaining life insurance as a smoker is possible, but it can take a little bit more time to understand your options because of the increased risks. By doing your research and comparing choices, you’ll be able to find the right life insurance plan for you and your loved […]
The Pros and Cons of Term and Whole Life Insurance
{December 21st, 2021} by iQuanti
NEW YORK, December 17, 2021 (Newswire.com) – iQuanti: Purchasing life insurance is a vital step you can take to ensure your family and loved ones’ financial security. As you learn more about life insurance, you’ll find that one of the most important decisions you’ll make in the process is whether to opt for term or whole life coverage. A term […]
Should Your Client Buy a RILA?
{December 21st, 2021} by Rod Mims
As your clients near retirement, protecting their money from potential losses due to an uncertain market environment is understandably a priority. But for some investors, the cost of gaining protection from market risk may not be worth the benefit. If you have clients in this situation, you may want to discuss a registered index-linked annuity […]
Rising Interest Rates Could Help Me: Nationwide Annuity Exec
{December 21st, 2021} by Allison Bell
Eric Henderson, the president of Nationwide’s annuity unit, is one of the people in charge of private-sector efforts to help people save for their own retirement. He oversees a business that manages about $100 billion in annuity assets for hundreds of thousands of retail annuity holders. Eric Henderson, the president of Nationwide’s annuity unit, is […]
COVID-19 Hammered Annuity Issuers Last Year: ACLI Data
{December 21st, 2021} by Allison Bell
The American Council of Life Insurers’ new Life Insurers Fact Book 2021 tells the story of just how hard the COVID-19 pandemic hit life, health and annuity issuers in 2020. Life premiums fell 5.5% from the 2019 total, to $148 billion, and health insurance premiums decreased 0.9%, to $186 billion. Meanwhile, as the 70 million […]
Fidelity Life: Can Smokers Get Life Insurance?
{December 21st, 2021} by Fidelity Life
CHICAGO, Dec. 17, 2021 (GLOBE NEWSWIRE) — People who smoke may not have appropriate life insurance policies in place because they think they’re not eligible. But the good news is tobacco users may be able to get life insurance, just at higher rates. So for those who smoke or love someone who does, here’s what […]
Best’s Special Report: Notional Value of U.S. Insurance Industry Derivatives Exceeds $3 Trillion
{December 21st, 2021} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–The notional value of insurance industry derivatives, held predominantly by life/annuity insurers, has risen by 45% over the past five years and topped $3.3 trillion in 2020, according to a new AM Best special report. In the Best’s Special Report, “Notional Value of Derivatives Exceeds $3 Trillion,” AM Best states that despite the increase in notional […]
What To Know About Early IRA Withdrawals
{December 21st, 2021} by The Lowell Ledger (MI)
While you’re working, you may be contributing to an individual retirement account (IRA), which can provide a tax-advantaged way to save for your future. So, is it ever a good idea to tap into your IRA before you retire? Ideally, you should leave this account intact until your retirement. After all, you could spend two […]
TIAA Traditional Payout Increases 5% for 2022
{December 21st, 2021} by TIAA
NEW YORK, December 16, 2021 – Beginning in January 2022, lifetime income payments to holders of the TIAA Traditional fixed annuity1 who opted to annuitize in retirement will increase by 5%, the largest boost in 40 years. The additional payout of $180 million to clients of the company’s flagship offering will bring the total income paid to […]
Demand For Individual Life Insurance Is At A Record High
{December 21st, 2021} by INNsider Pro
Data from the National Federation of Private Pension and Life show that the collection of premiums by insurers in the segment was R$ 8 billion from January to September, 29% above the same period in 2020.. “There was also growth, but smaller,” reinforces Nelson Emiliano Costa, of FenaPrevi. Click HERE to read the full story […]
No Sign Of M&A Activity Slowing Down, NAILBA CEO Says
{December 21st, 2021} by Doug Bailey
Despite a raging pandemic, supply chain disruptions and labor shortages, merger and acquisition deals for most insurance sectors have increased in the last 12 months. Or perhaps the pace has quickened because of those negative factors roiling the businesses. Either way, say industry experts, disruptive impacts have been far less substantial for insurance than for […]
Insurers fret about meeting ‘return targets’: Cerulli
{December 21st, 2021} by Editorial Staff
‘Eighty-one percent of insurers are concerned about meeting return targets given the low interest rates,’ Cerulli’s latest products report said. It also documented heavy outflows from low-volatility ETFs. Click HERE to read the full story via RIJ
Breaking News: Retirement Income Journal
{December 21st, 2021} by Editorial Staff
Retirement Income Journal takes a holiday break; Great American offers fixed multi-year guaranteed rate annuity for RIAs; Lincoln’s 401(k) adds Income America 5For Life; Jackson buys back 2.2 million shares of common stock, promotes Romine and Reed; SEC proposes more disclosure of stock buybacks; US life/annuity sector now ‘stable’: AM Best; Athene Holding invests in […]
The Santa Index 2021: Valuable jobs help to raise Santa’s salary by 6%
{December 21st, 2021} by Jennifer Shelton. Reviewed by Les Masterson
This time each year, when the days get colder and we spend quiet nights at home around the fireplace with family, the team at Insure.com starts to get all excited thinking about the holiday season. And while a steaming hot toddy or Michael Bublé’s version of “White Christmas” goes a long way toward getting us […]
How Millionaires Can Potentially Save A Lot In Taxes And How To Help Protect The Assets You Leave Your Family And Help Keep Them In Your Family Bloodline Long After You’re Gone
{December 21st, 2021} by Craig Kirsner
Be sure you’re not paying too much in fees in your retirement plan. Fees can be a drag on your retirement portfolio so it’s important you’re not paying too much in fees. There are 3 strategies that could have fees which include financial advisor fees, mutual fund fees and variable annuities. Click HERE to read the […]
Now Is the Time to Forge a New Social Contract and Future-Proof Retirement
{December 21st, 2021} by Transamerica Center for Retirement Studies
LOS ANGELES, Dec. 16, 2021 /PRNewswire/ — Almost four in 10 people globally are concerned about running out of money in retirement (38 percent global, 39 percent U.S.), according to a report released today. The New Social Contract: Future-Proofing Retirement explores the impacts of the COVID-19 pandemic and offers detailed recommendations for improving retirement security. The report is based […]
NAIC Elects 2022 Officers
{December 21st, 2021} by NAIC
SAN DIEGO, Dec. 16, 2021 /PRNewswire/ — Members of the National Association of Insurance Commissioners (NAIC) elected officers for 2022 today during its Fall 2021 National Meeting plenary. The following officers were elected for 2022: President: Idaho Insurance Director Dean L. Cameron Dean L. Cameron was appointed Director of the Department of Insurance by Idaho Governor C.L. “Butch” Otter. He took office on June […]
DALBAR Answers the Question: Who’s the Best in Customer Service?
{December 20th, 2021} by DALBAR, Inc
MARLBOROUGH, Mass., Dec. 15, 2021 /PRNewswire/ — DALBAR, Inc., the nation’s leading evaluator of customer service in the financial services industry, kicks off their annual award season today by publishing the recipients of the prestigious 2021 DALBAR Service Awards. DALBAR Service Awards are granted to the best mutual fund, annuity, retirement and insurance contact centers in the industry. […]
Transamerica Supports Financial Dignity, Inclusion with Donation to Operation HOPE
{December 20th, 2021} by Transamerica
BALTIMORE, Dec. 16, 2021 /PRNewswire/ — Transamerica announced today that the Aegon Transamerica Foundation has donated $500,000 to Operation HOPE, a nonprofit organization working to help underserved individuals attain a better financial future. The donation includes $250,000 for the nationwide “HOPE Inside” community-based financial coaching network and $250,000 for the “One Million Black Business and Entrepreneur Initiative,” designed to launch and grow one […]
Advisors Excel’s Rachel Sachs Named to Independent Distribution Honors List
{December 20th, 2021} by Advisors Excel
TOPEKA, KAN., Dec. 16, 2021 /PRNewswire/ — Rachel Sachs, Advisors Excel Vice-President of Life Operations, was named a NAILBA Independent Distribution (ID) 20 Award Winner of 2021. This is the third year for the award. According to NAILBA, the ID Twenty Awards honor Independent Distribution’s most courageous innovators and visionaries, who have made significant contributions to the insurance […]
Sammons Financial Group Names Life Leadership Team
{December 20th, 2021} by Sammons Financial Group, Inc.
DES MOINES, Iowa, Dec. 16, 2021 /PRNewswire/ — Sammons® Financial Group today announced changes to the Sammons Life Insurance Group leadership team as it prepares for the retirement of Steve Palmitier and the elevation of Jerry Blair to president, effective January 1, 2022. This past October, Blair was named president of Sammons Life Insurance Group […]
The Penn Mutual Life Insurance Company Financial Strength Reaffirmed by Top Rating Agencies
{December 20th, 2021} by The Penn Mutual LIfe Insurance Company
HORSHAM, Pa., Dec. 16, 2021 /PRNewswire/ — The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, is pleased to announce that Kroll Bond Rating Agency (KBRA) and Standard and Poor’s (S&P) have again recognized the financial strength of the company and its subsidiaries. During recent reviews by both agencies, Penn Mutual received stable outlooks […]
AIG and Blackstone Real Estate Income Trust Close Transaction of Affordable Housing Assets
{December 20th, 2021} by AIG and Blackstone
NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) and Blackstone (NYSE: BX) today announced the closing of the previously disclosed transaction for Blackstone Real Estate Income Trust (BREIT), a yield-oriented, perpetual-life investment vehicle affiliated with Blackstone, to acquire AIG’s interests in a U.S. affordable housing portfolio. All AIG employees who supported the affordable housing portfolio […]
AM Best Affirms Credit Ratings of MetLife, Inc. and Its Life/Health Subsidiaries
{December 20th, 2021} 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 ICR) of “aa-” (Superior) of the members of Metropolitan Life Insurance Group. Concurrently, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) and the Long- and Short-Term Issue Credit Ratings (Long-Term IR; Short-Term IR) […]
AM Best Affirms Credit Ratings of Western & Southern Financial Group, Inc. and Its Subsidiaries
{December 20th, 2021} 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 ICR) of “aa” (Superior) of the life insurance subsidiaries of Western & Southern Financial Group, Inc. (WSFG). WSFG’s subsidiaries are The Western and Southern Life Insurance Company (WSLIC), Western-Southern Life Assurance Company, Columbus Life Insurance […]
AM Best Removes From Under Review With Developing Implications, Upgrades Credit Ratings for Guggenheim Life and Annuity Company
{December 20th, 2021} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has removed from under review with developing implications and upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “bbb+” (Good) of Guggenheim Life and Annuity Company (GLAC) (Wilmington, DE). The outlook assigned to these Credit Ratings (ratings) is stable. The […]
AM Best Upgrades Credit Ratings of Nassau Financial Group, L.P.’s Insurance Subsidiaries
{December 20th, 2021} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has upgraded the Financial Strength Rating (FSR) to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb” (Good) from “bbb-” (Good) of Nassau Life Insurance Company, Nassau Life and Annuity Company and Nassau Life Insurance Company of Kansas (Overland Park, KS). All of the aforementioned companies […]
AM Best Affirms Credit Ratings of Brighthouse Financial Inc. and Its Subsidiaries
{December 20th, 2021} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Brighthouse Life Insurance Company (headquartered in Charlotte, NC), New England Life Insurance Company (Boston, MA) and Brighthouse Life Insurance Company of NY (New York, NY). These entities collectively are referred […]
Independent Insurance Group Introduces iStructure — the First Uncapped Index-linked Structured Settlement Annuity linked to the Franklin BofA World Index™
{December 20th, 2021} by Independent Insurance Group
JACKSONVILLE, Fla., Dec. 15, 2021 /PRNewswire/ — Independent Insurance Group, LLC (“Independent Group”) announced today that its life and annuity subsidiary, Independent Life Insurance Company (“Independent Life”) is introducing iStructure, the first uncapped index-linked structured settlement annuity. iStructure, which provides the opportunity for growth in payout amounts with the same flexibility and tax benefits of traditional structured settlements, will […]
Not All Life Insurance Policies Cover COVID-19 Deaths
{December 14th, 2021} by Tatiana Kadetskaya
With COVID-19 deaths continuing to rise, more Americans ask themselves whether they should buy life insurance to protect their families in case of death. In fact, according to LIMRA’s 2021 Barometer Study, one in three Americans said they are more likely to buy life insurance because of the pandemic. However, whether their policy would cover […]
Re: Allianz Life, F&G, Oceanview Re
{December 14th, 2021} by Editorial Staff
Allianz, the Munich-based global financial services firm, announced December 3 that its US life insurer, Allianz Life of North America, will reinsure $35 billion worth of in-force fixed index annuities (FIAs) with Talcott Resolution Life Insurance Company and Resolution Life, both owned by Sixth Street, a global asset manager. Click HERE to read the full […]
Private equity expands beyond US wealth management
{December 14th, 2021} by Jeff Benjamin
The private equity push into the U.S. wealth management space is showing signs of global expansion with New York-based Merchant Investment Management’s investment in Brainvest Wealth Management, a $3 billion multi-family office with offices in the United States, Switzerland and Brazil. Click HERE to read the full story via InvestmentNews
Are Medicaid annuities sound crisis-planning tools?
{December 14th, 2021} by Jeffrey Levine
Many individuals falsely believe that their potential future long-term care and medical costs will be covered by Medicare, which is available to individuals once they reach age 65. While Medicare is widely considered to be quality, cost-efficient health coverage (in large part due to its cost-sharing component with taxpayers) and does cover a robust variety […]
Holiday Gatherings Can Be A Financial Safety Check-In
{December 14th, 2021} by Kelly LaVigne
Getting together with family is certainly one the best parts of the holiday season. The chance to spend time reminiscing about the past and looking forward to what the new year will bring is a big part of what makes holiday gatherings so special. But connecting with family around the holidays can also be valuable […]
Integrity Marketing Gets $1.2B From Silver Lake
{December 14th, 2021} by Allison Bell
Integrity Marketing Group — a Dallas-based company that has acquired dozens of life, health and annuity agencies and distributors — said Thursday that it has attracted $1.2 billion in capital from a new investor, Silver Lake. Silver Lake is a Menlo Park, California-based company that may be best known for its investments in Airbnb, Dell […]
Top 10 Life, Health and Annuity Deals of 2021, So Far
{December 14th, 2021} by Allison Bell
U.S. life, health annuity issuers are taking a sober approach to dealmaking this year. The 10 biggest 2021 acquisitions in the sector announced through Dec. 7 have a total value of about $40 billion. More deals could be coming between now and New Year’s Eve, but these will create the benchmarks used to assess those. […]
Variable Annuity Issuers Get a Low-Interest-Rate Checkup
{December 14th, 2021} by Allison Bell
Big U.S. variable annuity issuers look as if they can handle 10 or more years of very low interest rates, according tro results from a new National Association of Insurance Commissioners issuer stress test. The variable annuity issuers that took the test might need about $8.1 billion in additional reserves, or 15% more, to handle […]
Small Insurer: Avoiding Hard Annuity Math May Be Too Difficult
{December 14th, 2021} by Allison Bell
New draft rules could hurt small fixed annuity issuers that want to stick with traditional reserving methods, according to Waylon Peoples. Peoples, vice president, life actuarial, with Erie Family Life, says the National Association of Insurance Commissioners has promised to free small, strong life and annuity issuers from having to use the complicated principles-based reserving […]
Life Insurers Paid Record Amounts To Beneficiaries In 2020
{December 14th, 2021} by ACLI
WASHINGTON – New research from the American Council of Life Insurers (ACLI) shows that life insurance companies paid more than $90 billion to beneficiaries of life insurance policies in 2020, the highest ever in any single year. It also represents a 15.4% increase in payments over 2019, which is the largest year-to-year increase since the 1918 Influenza […]
Covid Spurs Biggest Rise in Life-Insurance Payouts in a Century
{December 14th, 2021} by Leslie Scism
The Covid-19 pandemic last year drove the biggest increase in death benefits paid by U.S. life insurers since the 1918 influenza epidemic, an industry trade group said. Death-benefit payments rose 15.4% in 2020 to $90.43 billion, mostly due to the pandemic, according to the American Council of Life Insurers. In 1918, payments surged 41%. Click […]
10 Top Annuity Bills Introduced in 2021
{December 14th, 2021} by Melanie Waddell
Lawmakers were busy introducing annuity-related bills this year as sales of the products were booming. Sales of fixed and variable annuities were $60 billion in the second quarter of 2021, up 6% from first-quarter 2021 sales of $56.7 billion, according to the Insured Retirement Institute’s second-quarter 2021 market data, released in November. The data was […]
Investors Favor Annuities, Protection Over 60/40 Allocation: Survey
{December 14th, 2021} by Michael S. Fischer
As part of a new study, Alliance for Lifetime Income and CANNEX asked investors to build their own hypothetical $1 million portfolio. Here’s what respondents came up with. Investors allocated 20% of their portfolio to dividend-paying stocks, $200,000; 14% to real estate, about $145,000; and 13% to annuities, $136,000. They rounded out their top five […]
Strong Whole Life Demand Boosts Application Activity
{December 14th, 2021} by Allison Bell
Strong consumer interest in whole life insurance helped lead to a 2.9% increase in life insurance application activity between November 2020 and November 2021, according to new data from MIB Group. MIB reported a 1.5% drop in activity for October, but it has been reporting increases in year-over-year activity comparisons most months this year as […]
US Life Insurers See Return Pressure, Manageable Losses in 2022
{December 14th, 2021} by Fitch Ratings
Fitch Ratings-New York-07 December 2021: The neutral sector outlook for U.S. life insurers reflects improvement in the macroeconomic environment over the past year and strong industry balance sheet fundamentals, which are expected to persist in 2022. However, sustained low interest rates, the increased role of alternative investment managers and accounting changes will have long-term credit […]
How to Buy Life Insurance With Pre-Existing Conditions
{December 14th, 2021} by Christy Bieber
Life insurance pays a death benefit when the policyholder dies, ensuring surviving family members are provided for. But life insurance with pre-existing conditions may be more difficult to find, making it harder for people with medical issues to protect loved ones. This guide provides insight into the best life insurance policy for pre-existing conditions. What […]
