LIVE! with SHERYL J “Moore on the Market”
{May 17th, 2022} by Wink's RockStars
On May 24th, join Wink’s CEO, Sheryl J. Moore, the foremost authority in the annuity and life insurance markets for a DYNAMIC annuity industry update. Registration is limited, don’t miss out! Click HERE TO REGISTER NOW!
LibertyMark Freedom Fixed Indexed Annuities Launch
{May 17th, 2022} by Legacy Marketing Group
PETALUMA, Calif.–(BUSINESS WIRE)–Legacy Marketing Group® today announced the launch of LibertyMark Freedom, the next generation of its top-selling FIA, issued by “A” rated* Americo Financial Life and Annuity Insurance Company. As a pure accumulation powerhouse, LibertyMark Freedom offers growth potential with options when it comes to fees. It comes equipped with no-fee index options to […]
Nationwide Adds BNP Paribas Global H-Factor Index To FIA
{May 17th, 2022} by Nationwide
Columbus, OH—May 16, 2022—Nationwide announced today the addition of the BNP Paribas (BNPP) Global H-Factor® Index to the Nationwide Peak® 10 fixed indexed annuity (FIA). The index offers a probability-based approach to investing by identifying and removing potentially overpriced stocks likely to lose value due to human behavior, resulting in a portfolio made up of equities more likely […]
Lincoln Financial expands Indexed Universal Life suite with survivorship product for wealth transfer and estate planning
{May 17th, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE:LNC) today launched Lincoln WealthPreserve® 2 Survivorship Indexed Universal Life (SIUL) for couples or business partners looking to insure two individuals in a single policy. Lincoln WealthPreserve® 2 SIUL offers an extended guaranteed death benefit, growth potential with downside protection and optional features for life’s changing needs, while enabling clients to implement estate planning strategies to […]
ACLI RAISES CONCERNS OVER S&P INSURER CAPITAL ADEQUACY METHODOLOGY PROPOSAL IN CONGRESSIONAL TESTIMONY
{May 17th, 2022} by ACLI
WASHINGTON, D.C.– The American Council of Life Insurers (ACLI) raised concerns in congressional testimony today over Standard & Poor’s (S&P) ratings agency’s recent proposal to its insurer capital adequacy methodology. S&P temporarily withdrew its proposal on May 9. However, S&P reserved the right to return to it in its rating process. ACLI Senior Vice […]
Transamerica Structured Index Advantage Annuity Offers Investors More Certainty with Upside Growth and Downside Protection
{May 17th, 2022} by Transamerica
BALTIMORE, May 16, 2022 /PRNewswire/ — Transamerica announces the launch of the Transamerica Structured Index AdvantageSM Annuity, a registered index-linked annuity that is designed to create more certainty for investors in uncertain markets. For investors who are seeking upside potential returns and are less willing to stay invested during down markets, the Transamerica Structured Index Advantage Annuity offers the opportunity for market […]
The Second-Fastest-Growing U.S. Life Insurer Has Big Plans
{May 17th, 2022} by Cyril Tuohy
Kuvare’s Des Moines office make sense for the company because of the talent that they can pull from in the city’s experienced insurance staff pool, said Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report. “It also provides a more convenient office than in their Cedar Rapids headquarters, so that executives can fly into Des […]
Recommending FIAs: Start With The Client’s Objective
{May 17th, 2022} by Rick Wilson
Fixed indexed annuities have become popular financial solutions for advisors to address client goals of safe investment returns and lifetime income. FIAs offer owners the ability to earn higher yields than fixed annuities if the markets perform well, while typically providing some protection against market declines. With the increased popularity of FIAs, insurers have become […]
FIAs compared to Bonds
{May 17th, 2022} by Barclays
May 2022 Innovation in the FIA space has markedly improved the offering and this provides a very important distinction to bonds. We find that examples of this innovation in FIAs have outperformed bonds on a consistent basis over the last 25 years. Both FIAs and bonds are principal protected, however bonds are exposed to yields […]
New Envestnet Research Reveals Financial Nihilism Among Some Millennials
{May 17th, 2022} by Jeff Berman
There is good news and bad news for advisors when it comes to getting their clients on the road to living an “Intelligent Financial Life,” according to Envestnet and Jason Dorsey, president and co-founder of The Center for Generational Kinetics in Austin, Texas. The good news is there’s a significant opportunity out there to reach […]
Cheat Sheet: Basic Annuity Types and Facts Every Advisor Should Know
{May 17th, 2022} by Ginger Szala
Annuities are becoming more accessible through fee-only advisors and retirement plans. For advisors who have clients interested in these products, here’s a quick rundown on what types of annuities are available and how, generally, each type works. Keep in mind: There are always new wrinkles to think about. If you are new to annuities, and […]
Life Application Activity Cools Again
{May 17th, 2022} by Allison Bell
U.S. individual life insurance application activity continued to cool in April, according to the new MIB life application activity report. Application activity was 7.7% lower in March than in March 2021. Click HERE to read the full story via ThinkAdvisor
Life Insurers Added Asset-Backed Securities in 2021
{May 17th, 2022} by Allison Bell
U.S. life insurers continued to make corporate bonds their main investment course in 2021, but they increased asset-backed securities allocations to add some yield spice. The Capital Markets Bureau, an arm of the National Association of Insurance Commissioners, has published a life insurer portfolio snapshot in its latest annual report on U.S. insurers’ cash and […]
Northwestern Mutual to Invest $5M in Local Financial Institutions
{May 17th, 2022} by Allison Bell
Northwestern Mutual is trying to add some real diversification to its investment portfolio — by investing in its own neighbors. The Milwaukee-based mutual life insurer is allocating $5 million of its assets to two Milwaukee-based community development financial institutions: Legacy Redevelopment Corp. and Northwest Side Community Development Corp. Click HERE to read the full story […]
Life Insurers Look Fine: Swiss Re Economists
{May 17th, 2022} by Allison Bell
Economists at a Swiss Re research arm have tried to think about the winds that might blow the world’s life insurers around over the next two years. The economists have come out with a cautious prediction that life insurers could do pretty well, in a new report on the possible effects of “stagflation,” or a […]
Treasury Secretary Worries About Leverage at Life Insurers
{May 17th, 2022} by Allison Bell
Federal regulators could try to regain their authority over nonbank financial institutions that look as if they could hurt the U.S. financial system. Treasury Secretary Janet Yellen talked about regulators’ thoughts on designating some nonbanks as “systemically important financial institutions,” or SIFIs, on Tuesday at a Senate Banking Committee hearing on the Financial Stability Oversight […]
S&P Rating Method Update Could Ding Annuities: Hearing Witness
{May 17th, 2022} by Allison Bell
The American Council of Life Insurers would prefer to see S&P Global Ratings take a different approach if and when it updates its rules for rating insurers’ capital levels. Mariana Gomez-Vock, a senior vice president at the ACLI, gave that assessment Wednesday at a hearing on the bond rating industrythat was organized by the House […]
‘Annuities’ Hits Brick Wall; ‘Guaranteed’ Works: Michael Finke
{May 17th, 2022} by Allison Bell
Life insurers, researchers and others converged on Washington last week to sell themselves, and the world, on the idea that it’s nice for retirees to have big companies working hard to offer them a stream of income that will last throughout retirement. The Alliance for Lifetime Income held the 2022 Future of Protected Income Summit: […]
Fed’s stability report assesses life insurers
{May 17th, 2022} by Editorial Staff
The Federal Reserve’s Board of Governors released its annual Financial Stability Report this month. Portions of the 72-page document were devoted to statistics on the financial health of the US life insurance industry, which includes the annuity industry. The report noted an overall increase in the liquidity of the industry’s liabilities and a trend toward holding less […]
Symetra Once Again Teams Up with Sue Bird on New TV Advertising
{May 17th, 2022} by Symetra
BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra, a national provider of employee benefits, annuities and life insurance, has launched new brand advertising featuring five-time Olympic gold medalist and four-time WNBA Champion Sue Bird. This marks the Pacific Northwest-based life insurer’s fourth collaboration with the Seattle Storm point guard. The 30-second commercial debuted on FOX 13+ during the Seattle Storm’s […]
Latest MoneyGuard Solution From Lincoln Financial Group Offers More Control, Flexibility and Options
{May 17th, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today launched the next generation of Lincoln MoneyGuard® by introducing MoneyGuard Fixed AdvantageSM, a universal life insurance policy with a long-term care rider. The MoneyGuard solutions suite helps address the concerns of 87% of Americans surveyed who say that having a long-term care solution would help them feel more confident about their financial […]
Jackson Announces First Quarter 2022 Results
{May 17th, 2022} by Jackson Financial Inc.
Jackson Announces First Quarter 2022 Results May 10, 2022 04:15 PM Eastern Daylight Time LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc. (NYSE: JXN) (Jackson®) today announced financial results for the three months ended March 31, 2022. Key Highlights Net income of $2,025 million, or $22.51 per diluted share, including the impact of non-economic hedging results under GAAP […]
Fabric, RetireOne Team Up to Bring Advisors Risk Management Tool for Annuities
{May 17th, 2022} by RetireOne
SAN FRANCISCO–(BUSINESS WIRE)–RetireOne, the leading independent platform for fee-based insurance solutions, today announced a partnership with Fabric to integrate its risk modeling capability into RetireOne’s user platform, beginning with its zero-commission contingent deferred annuity, ConstanceSM. Developed in partnership with Midland National® Life Insurance Company and offered exclusively on the RetireOne platform, Constance is a form of portfolio income insurance […]
Pacific Life Wins 2022 Gold Stevie® Award for Sales & Customer Service
{May 17th, 2022} by Pacific Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life’s Retirement Solutions Division (RSD)’s New Business Status Tracker tool was honored with a gold Stevie® Award at the 16th annual Stevie Awards for Sales & Customer Service in the new IVR or Web Service Solution category. This distinguished achievement showcases the advancements of Pacific Life’s digital transformation efforts, particularly in new business and adviser […]
May 12, 2022 Coming Out of Winter Hibernation
{May 17th, 2022} by Ann Young Black, Jordan Luczaj
The Life Insurance and Annuities (A) Committee sprang into action during the NAIC Spring 2022 National Meeting in April. The A Committee discussed recent activities and 2022 plans for its Life Actuarial Task Force (LATF), its Annuity Suitability Working Group, and its Life Insurance Online Guide Working Group. Click HERE to read the full story […]
Equitable Sees ‘Rational’ Registered Index-Linked Annuity Pricing
{May 17th, 2022} by Allison Bell
Equitable Holdings’ life insurance business helped create the modern market for registered index-linked annuities, or RILAs. Many other life insurers are now entering that market, attracted by the ability to tie returns to easy-to-manage options contracts, while having the ability to adjust just how much or how little market risk they protect the contract holder […]
Bonds May Be Down, But Some Annuity Payouts Are Up
{May 17th, 2022} by David Blanchett
It’s been a pretty wild ride for the markets in 2022. Equities and bonds are down so far for the year, and inflation is up (way up on a relative historical basis) — creating a challenging environment for investors. I’ve spoken with quite a few investors and financial advisors over the last few years and […]
The latest in financial #AdviserTech — May 2022
{May 17th, 2022} by Michael Kitces
This month’s #AdviserTech roundup looks at Orion’s acquisition of Redtail CRM, Advyzon’s launch of its Quantum Rebalancer, RightCapital’s new one-page Financial Plan Snapshot and Vanguard’s partnering with American Express. Click HERE to read the full story via InvestmentNews
NEW RULE STRENGTHENS PROTECTIONS FOR SOUTH CAROLINA ANNUITY CONSUMERS
{May 17th, 2022} by ACLI
WASHINGTON – American Council of Life Insurers (ACLI) President and CEO Susan Neely and National Association of Insurance and Financial Advisors (NAIFA) South Carolina President Johnny Craven issued the following joint statement on the best interest annuity rule adopted recently by Acting Director Michael Wise and the South Carolina Department of Insurance: “A new rule […]
Father of 4% Rule Urges Caution, Cash as Market Risk Rises
{May 17th, 2022} by Jane Wollman Rusoff
Bill Bengen, the inventor of the so-called 4% retirement portfolio withdrawal rule, has a crucial message for financial advisors: “Manage the risk portion of a retirement nest egg actively. Unless you’re willing to vary — reduce — your clients’ allocations to reduce risk, it could be damaging,” the former 25-year advisor argues in an interview […]
Rising Interest Rates Scramble Annuity Sales Forecasts
{May 17th, 2022} by John Hilton
Annuity exchanges could become big business over the coming quarters as short-term fixed-rate deferred contracts expire. It is part of a business climate supercharged by the rise in interest rates, said Todd Giesing, assistant vice president, Secure Retirement Institute Annuity Research. “The pace of change is just unbelievable and trying to keep up with it […]
National Western Life Group, Inc. Announces 2022 First Quarter Earnings
{May 16th, 2022} by National Western Life Group, Inc.
AUSTIN, Texas, May 10, 2022 /PRNewswire/ — Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today first quarter 2022 consolidated net earnings of $36.2 million, or $10.23 per diluted Class A common share, compared with consolidated net earnings of $62.1 million, or $17.57 per diluted Class A common share, for the […]
Busting Stereotypes: Millennials Take Control of their Finances
{May 16th, 2022} by Nationwide
Survey finds that Millennials are concerned about recession, but feel confident in steps they are taking to prepare for the unexpected COLUMBUS, Ohio, May 10, 2022 /PRNewswire/ — The Millennial generation (aged 26-41) has been pegged with stereotypes of careless spending and saving habits since the early 2010s. However, with the oldest members of this generation now […]
Midwest Holding Inc. Reports First Quarter 2022 Results
{May 16th, 2022} by Midwest Holding Inc
LINCOLN, Neb., May 16, 2022 /PRNewswire/ — Midwest Holding Inc. (“Midwest”) (NASDAQ: MDWT), today announced financial results for the first quarter of 2022. First Quarter 2022 Highlights: GAAP net income was $187,000 compared to a $(1.6) million GAAP net loss incurred in the first quarter of 2021. GAAP earnings were 5 cents per share (diluted) versus the (43) cent per-share loss in Q1 2021. GAAP total […]
Women in Insurance & Financial Services (WIFS) Announces Schedule of Events for 2022
{May 16th, 2022} by WIS
Women in Insurance & Financial Services (WIFS), the only national organization exclusively devoted to the success of women in the insurance and financial services fields, has announced its schedule of events for 2022, including its prestigious WIFS National Conference. “WIFS is devoted to advancing career opportunities, providing professional development, and representing women’s interests in a […]
Congratulations to the NAILBA team!
{May 16th, 2022} by NAILBA
NAILBA is excited to announce that it has been recognized by ASAE: The Center for Association Leadership with a 2022 Gold Circle Award for excellence in Integrated Media Solutions! “The work that Pam Sheehan and our team have done to elevate NAILBA’s content is truly remarkable and has cemented our role as the voice of independent distribution,” said NAILBA […]
Mental Health Awareness Month: Making Sure Our Associates Know They Are Never Alone
{May 16th, 2022} by Walmart
May is Mental Health Awareness Month in the U.S. For many of us, the last 24 months of living in the shadow of a global pandemic has brought prolonged isolation from our friends and colleagues and introduced new levels of anxiety and fear many of us have never experienced before. And considering the growing level […]
2023 Social Security COLA could be biggest in 40 years
{May 16th, 2022} by Mary Beth Franklin
It sounds like déjà vu: The next Social Security cost-of-living adjustment could be the biggest percentage increase in 40 years. It was true for 2022, and it’s likely to be true again next year. Click HERE to read the full story via InvestmentNews Wink’s Note: An 8.6% Cost of Living Adjustment on next year’s Social […]
Geek out on this intel!
{May 16th, 2022} by Sheryl J. Moore
I seriously geek out on this intel. Click here for the top ten Indy B/Ds for annuity sales:
As if being “independent” makes anyone truly INDEPENDENT.
{May 16th, 2022} by Sheryl Moore
As if being “independent” makes anyone truly INDEPENDENT. Even marketing organizations have to commit a certain level of production to their top product manufacturers to get top contracts. So, are they truly INDEPENDENT? And would they even suggest insurance products, were they not affiliated with insurance company B/Ds? I am interested in what you think. […]
Best’s Special Report: U.S. Life/Annuity Insurance Industry Sees Limited COVID-19 Impact on Operating Performance Metrics
{May 16th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best benchmarking analysis of rated U.S. life/annuity (L/A) insurance companies showed that not only did COVID-19 have a limited impact on operating performance, those insurers with an assessment of very strong have not reported an operating loss in two decades. In its Best’s Special Report, titled, “Limited COVID-19 Impact on U.S. L/A Operating Performance […]
Security Benefit Adds An “A” Financial Strength Rating
{May 16th, 2022} by Security Benefit
TOPEKA, Kan.–(BUSINESS WIRE)–Security Benefit, a leader in the U.S. retirement market, today announced that DBRS Morningstar has assigned a Financial Strength Rating of “A” (stable) to Security Benefit Life Insurance Company (SBLIC)* and First Security Benefit Life Insurance & Annuity Company of New York (FSBL). Both are subsidiaries of SBL Holdings, Inc., to which DBRS […]
Why RIJ Obsesses over the ‘Bermuda Triangle’
{May 10th, 2022} by Kerry Pechter
As an RIJ reader, you might have wondered why we spend so much editorial space on the ‘Bermuda Triangle’ phenomenon. There are three main reasons. Click HERE to read the full story via RIJ Wink’s Note: If Kerry Pechter of “Retirement Income Journal” is concerned about this… I guess I am too? -sjm
Ash Brokerage Joins Integrity in Historic Partnership to Further Innovate Insurance and Financial Services
{May 10th, 2022} by Integrity Marketing Group
Transformational union of industry trailblazers will empower agents and advisors to provide more holistic life, health and wealth solutions that help Americans plan for the good days ahead DALLAS, May 4, 2022 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it […]
How advisors can help clients get early retirement account distributions – without paying a penalty
{May 10th, 2022} by Jeffrey Levine
The Internal Revenue Code encourages individuals to save for retirement by offering taxpayers the ability to invest for their ‘golden years’ through a variety of tax-favored retirement accounts such as IRAs, Roth IRAs and 401(k) plans. But the tax benefits provided by these accounts don’t come without strings attached. Notably, in order to help ensure […]
IRS Proposes Updating Life Expectancy Tables for Annuities
{May 10th, 2022} by Austin R. Ramsey
The Internal Revenue Service is updating the life expectancy tables insurance companies use to calculate the value of and interest rates on annuities. The proposed new actuarial tables reflect updated Census and population trend data. They apply to annuities retirees use to hedge against outliving their retirement income. The public can comment on the revised […]
AIG Ramps Up Life & Retirement Split While Annuity Sales Climb
{May 10th, 2022} by John Hilton
American International Group benefited from a surge in fixed annuity business in the first quarter, even while it continues a plan to split off its Life & Retirement business. The company’s plan for Life & Retirement is into its second year and remains on track, CEO Peter Zaffino said during this morning’s first quarter earning’s […]
Insure.com’s 2022 Mother’s Day Index: Mom’s Role Soars to $126,725
{May 10th, 2022} by Insure.com
Salaries are rising – and a mother’s economic value increased 9.2% in the last year FOSTER CITY, Calif., May 4, 2022 /PRNewswire/ — Insure.com, a comprehensive source for insurance information, releases its 12th annual Mother’s Day Index showing that the work many moms typically perform for their households could justify an income of more than $126,725. That’s an increase […]
CUNA Mutual Group Announces Plans To Unify Under One Brand in 2023
{May 10th, 2022} by CUNA Mutual Group
Company to Become TruStage®, Reflecting Outstanding Growth and Continuing to Improve Customer Experience MADISON, Wis., May 5, 2022 /PRNewswire/ — CUNA Mutual Group today announced its plans to unify its businesses under a single brand, TruStage, in 2023. The change strengthens the company’s ability to serve those who count on it most. “We were born out of the […]
Simplicity Group Completes its 35th Acquisition — Buckhead Brokerage Group — and Welcomes Forrest Mitchell as Newest Partner
{May 10th, 2022} by Simplicity Group
SUMMIT, N.J., May 3, 2022 /PRNewswire/ — The Simplicity Group (“Simplicity”) today announced the acquisition of Georgia-based Buckhead Brokerage Group (“Buckhead”). With the completion of this transaction, Simplicity welcomes Forrest Mitchell as its newest partner. “Forrest and his team are first-class professionals, well-aligned with Simplicity’s guiding principles of education, value, and partnership,” Bruce Donaldson, President and CEO of Simplicity. “Like the team […]
TIAA Named a 2022 DiversityInc Top 50 Company
{May 10th, 2022} by TIAA
NEW YORK, May 5, 2022 /PRNewswire/ — TIAA has ranked number eight on DiversityInc’s 2022 Top 50 Companies list. The organization also ranked as a Top Company for Environmental, Social & Governance, a Top Company for Employee Resource Groups and a Top Company for Executive Diversity Councils. This year marks a decade that TIAA has been included on the list and the third […]
Simplicity Group Acquires Blue Ocean Financial Network and Welcomes Christopher Yen as Newest Partner
{May 10th, 2022} by Simplicity Group
SUMMIT, N.J., May 5, 2022 /PRNewswire/ — The Simplicity Group (“Simplicity”) today announced the acquisition of Northern California-based Blue Ocean Financial Network (“Blue Ocean”) and welcomed Christopher Yen as its newest partner. This Blue Ocean transaction is Simplicity’s 36th acquisition. Following completion, Blue Ocean will transition to the Simplicity brand, and the day-to-day operations will continue to be managed by Chris Yen. […]
Midwest Holding Schedules Conference Call to Discuss First Quarter 2022 Results
{May 10th, 2022} by Midwest Holding Inc
LINCOLN, Neb., May 5, 2022 /PRNewswire/ — Midwest Holding Inc. (“Midwest”) (NASDAQ: MDWT) today announced plans to host a conference call to discuss financial and operating results for the first quarter of 2022 on May 17, 2022, at 8:30 a.m. Eastern Time. The Company also plans to post those results on the investor relations section of its website at https://ir.midwestholding.com after the […]
Prudential Financial, Inc. Announces First Quarter 2022 Results
{May 10th, 2022} by Prudential Financial
NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) today reported first quarter results. Net loss attributable to Prudential Financial, Inc. was $31 million ($0.10 per Common share) for the first quarter of 2022, compared to net income of $2.828 billion ($6.98 per Common share) for the first quarter of 2021. After-tax adjusted operating income was $1.218 […]
AIG Recognized among Top 50 Companies for Diversity by DiversityInc for Fifth Consecutive Year
{May 10th, 2022} by AIG
NEW YORK–(BUSINESS WIRE)–For the fifth consecutive year, American International Group, Inc. (NYSE: AIG) has been named one of DiversityInc’s Top 50 Companies for Diversity, the leading assessment of diversity management in corporate America. AIG has elevated its rank every year since first reaching the Top 50 in 2018 and improved from 37th to 32nd place in 2022. […]
Brighthouse Financial Announces First Quarter 2022 Results
{May 10th, 2022} by Brighthouse Financial
CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today its financial results for the first quarter ended March 31, 2022. First Quarter 2022 Results The company reported net income available to shareholders of $613 million in the first quarter of 2022, or $7.91 per diluted share, compared with a net […]
Equitable Holdings Reports First Quarter 2022 Results
{May 10th, 2022} by Equitable Holdings, Inc
NEW YORK–(BUSINESS WIRE)–Equitable Holdings, Inc. (“Equitable Holdings”, “Holdings”, or the “Company”) (NYSE: EQH) today announced financial results for the first quarter ended March 31, 2022. “Our fair value economic approach and use of market interest rates have led to robust cash flows despite volatile markets and geopolitical conflict. We reported first quarter Non-GAAP operating earnings […]
Horace Mann reports first-quarter 2022 net income of $0.35 per share and core earnings* of $0.64 per share
{May 10th, 2022} by Horace Mann Educators Corporation
SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) today reported financial results for the three months ended March 31, 2022: ($ in millions, except per share amounts) Three Months Ended March 31, 2022 2021 % Change Total revenues $ 346.8 $ 322.0 […]
Lincoln Financial Group Reports First Quarter 2022 Results
{May 10th, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported net income for the first quarter of 2022 of $104 million, or $0.58 per diluted share available to common stockholders, compared to net income in the first quarter of 2021 of $225 million, or $1.16 per diluted share available to common stockholders. First quarter adjusted income […]
American Equity Reports Solid Results in line with Expectations
{May 10th, 2022} by American Equity Investment Life Insurance Company
WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), a leading issuer of fixed index annuities (FIAs) today reported on its first quarter 2022 results. These results include improved yields in the investment portfolio, continuing implementation of new relationships with “best-in-class” asset originators, and new sales and other operating costs and expenses […]
AIG Reports First Quarter 2022 Results
{May 10th, 2022} by AIG
NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) today reported financial results for the first quarter ended March 31, 2022. AIG Chairman & Chief Executive Officer Peter Zaffino said: “In the first quarter of 2022, AIG delivered excellent results, while simultaneously advancing a number of strategic, operational and financial priorities. I am very pleased with […]
SEC Marketing Rule: What You Need to Know
{May 10th, 2022} by Rita Raagas De Ramos
Registered investment advisor firms have until November 4 to fully comply with the Securities and Exchange Commission’s new marketing rule. The “Marketing Rule” is part of the Investment Advisers Act of 1940. It overhauls and modernizes the SEC’s “Advertising Rule” and “Cash Solicitation Rule” and creates a single rule, according to the Wagner Law Group. Click HERE […]
Michael Finke Explains the Bolt-On Annuity
{May 10th, 2022} by Allison Bell
Clients who hate existing retail annuity investment portfolios can build their own. RetireOne has brought in Michael Finke — a retirement security researcher — to help it explain that this is possible, even for retirement savers who are not billionaires and who do not own lairs on private islands. Finke wrote a “white paper,” or […]
Lincoln Financial Losses Slow With Ebbing Pandemic
{May 10th, 2022} by Steven A. Morelli
Lincoln Financial earnings dropped by more than half year over year in the first quarter, largely because of pandemic-related losses but also a drop in indexed variable annuity sales, which incoming CEO Ellen Cooper said was in line with the carrier’s shift in sales strategy. The company’s earnings totaled $103 million, $0.58 per share, compared […]
Life Sales Ring $200 Billion Bell
{May 10th, 2022} by Steven A. Morelli
Mortality awareness apparently drove a banner year for life insurance in 2021 with the industry selling more than $200 billion in premium for the first time, according to S&P Global. Life premiums popped by nearly 10% over the year, bringing sales to $204.7 billion, according to an S&P Global Market Intelligence analysis of company annual […]
S&P Puts Off Effort to Develop Tougher Life Insurer Grading System
{May 10th, 2022} by Allison Bell
S&P Global Ratings is backing away from a battle with regulators and life insurers over a grading system update. The New York-based rating agency has been trying to adopt new, tougher insurer risk-based capital adequacy criteria, to look harder to see how well any given insurer might perform in dire circumstances. Click HERE to read […]
How to navigate the turbulent stock market depends on when you will retire
{May 10th, 2022} by Claire Ballentine and Suzanne Woolley
You know you’re not supposed to look, but it’s impossible to resist. When stocks are plunging, checking your investment accounts is risky business. The market turbulence is jarring for younger investors, who are used to the idea that stocks always go up. And for those with a bit more experience, watching hard-earned money suddenly disappear […]
Insurers Working Quickly To Address Employee Shortage Crisis
{May 10th, 2022} by John Hilton
Like most industries, insurance is struggling to add employees. In fact, the talent shortage is approaching crisis levels. Insurance unemployment is at 1.5%, said Brad Whatley, managing director of The Jacobson Group, compared to the national 3.6% unemployment rate for all industries. Whatley hosted a session during the annual 2022 Life Insurance Conference last week, […]
5 Annuity Bills in Congress Now
{May 10th, 2022} by Melanie Waddell
Changes to the annuity landscape will likely be ushered in this year with the anticipated passage by the Senate of the Securing a Strong Retirement Act of 2022, or Secure Act 2.0, which would make it easier to use qualified longevity annuity contracts in retirement plans, among other changes. In the meantime, total U.S. annuity […]
Edelman, Nadig Say FINRA Complex Product Ideas Are ‘Unworkable,’ Terrifying
{May 10th, 2022} by Melanie Waddell
The Financial Industry Regulatory Authority’s potential changes to regulation of complex products are “fatally flawed” and “completely unworkable,” according to RIA founder turned crypto evangelist Ric Edelman. As set out in Regulatory Notice 22-08, FINRA could limit retail investor access to many mutual funds, ETFs and closed-end funds, according to Dave Nadig, financial futurist at […]
Transamerica Transforms Annuity and Life Insurance Solutions with Addition of Liza Tyler and Andrew DeMarco
{May 9th, 2022} by Transamerica
Transamerica announces that Liza Tyler has been appointed Head of Annuity Solutions and Andrew DeMarco as Head of Life Solutions for the company’s Individual Solutions division. This new leadership structure is part of Transamerica’s commitment to a broad and resilient product suite for life insurance and annuities, driving growth in a risk-managed and capital efficient […]
The ‘Retirement Income Consortium’ is Born
{May 9th, 2022} by Kerry Pechter
A group of life insurers and asset managers has created a new industry group: the Retirement Income Consortium (RIC). The founding members are AllianceBernstein, Allianz, BlackRock, Income America, Nationwide, Principal Financial Group, Prudential Financial and TIAA-Nuveen. Click HERE to read the full story via RIJ
New York’s ‘shot-across-the-bow’ to PE firms
{May 9th, 2022} by Kerry Pechter
In a message that may have been inspired by Blackstone’s 2021 purchase of a 9.9% equity stake in AIG Life & Retirement, the New York Department of Financial Services issued Insurance Circular Letter No. 5 (2022) on April 19. Click HERE to read the full story via RIJ
Private Equity in the Life/Annuity Biz
{May 9th, 2022} by Kerry Pechter
Private equity (PE) firms or “alt-asset managers,” in the opinions of many, have bestowed heavenly manna on the life/annuity industry during the past decade’s yield-famine. Click HERE to read the full story via RIJ
USAA inked a pair of reinsurance deals in 2021
{May 9th, 2022} by Editorial Staff
USAA Life Insurance Company into two reinsurance arrangements in 2021, with a combined value of about $6 billion, according the Texas-domiciled mutual insurer’s 2021 Annual Statement, filed with the Texas Department of Insurance on February 10, 2022. Click HERE to read the full story via RIJ
Recommending FIAs: Start With The Client’s Objective
{May 9th, 2022} by Rick Wilson
Fixed indexed annuities have become popular financial solutions for advisors to address client goals of safe investment returns and lifetime income. FIAs offer owners the ability to earn higher yields than fixed annuities if the markets perform well, while typically providing some protection against market declines. With the increased popularity of FIAs, insurers have become […]
Growing financial services firm Kuvare opens Des Moines office in East Village, continuing expansion in Iowa
{May 9th, 2022} by Kuvare
DES MOINES, IA — May 3, 2022 — Kuvare today announced the opening of its newest location in the East Village area of Des Moines, Iowa. This office will utilize the region’s exceptional talent to support the continued growth of Kuvare’s life insurance and annuity businesses: Guaranty Income Life Insurance Company (GILICO), United Life Insurance […]
North American adds exclusive Morgan Stanley index to its top fixed annuity products
{May 3rd, 2022} by North American Company for Life and Health Insurance
WEST DES MOINES, Iowa, April 26, 2022 /PRNewswire/ — Annuity customers looking for consistent, positive performance potential can consider a new index offered through North American Company for Life and Health Insurance®, a member company of Sammons Financial Group®. The new financial index is designed by Morgan Stanley and can help today’s annuity customer manage the often shifting economic and market environment facing […]
Chicago-based life and annuity company Kuvare establishes Des Moines office
{May 3rd, 2022} by Joe Gardyasz
Kuvare US Holdings, a Chicago-based annuity and life insurance company with operations in Cedar Rapids, last week opened a Des Moines office and plans to staff the new location with about 50 insurance professionals within the next three years. Kuvare, (rhymes with “O’Hare) was founded in 2015 by Dhiren Jhaveri, a former Sammons Financial Group executive who saw […]
What the Broker-Dealer Industry Looks Like Now, in 5 Charts
{May 3rd, 2022} by Melanie Waddell
The Financial Industry Regulatory Authority released Monday its 2022 Industry Snapshot, the annual statistical report on the brokerage firms, registered representatives and market activity that FINRA oversees. “The securities industry is highly dynamic, and as it evolves, we continue to add new data sets to the FINRA Industry Snapshot to provide visibility into those changes,” said FINRA […]
Ameriprise Celebrates Fed Interest Rate Increases
{May 3rd, 2022} by Allison Bell
Executives at Ameriprise Financial are trying to tell investors how bright the future looks for life and annuity issuers right now while being compassionate about the problems facing the world as a whole. Jim Cracchiolo, the Minneapolis-based company’s CEO, worked to find a balance between concern and optimism Tuesday, when he briefed securities analysts on the company’s first-quarter […]
AM Best Removes From Under Review With Negative Implications and Downgrades Credit Ratings of Prudential Annuities Life Assurance Corporation
{May 3rd, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has removed from under review with negative implications and downgraded the Financial Strength Rating to A (Excellent) from A+ (Superior) and the Long-Term Issuer Credit Ratings to “a” (Excellent) from “aa-” (Superior) of Prudential Annuities Life Assurance Corporation (PALAC) (Scottsdale, Arizona). The outlook assigned to these Credit Ratings (ratings) is stable. The […]
Protective Closes on AUL Acquisition, Adds Complementary Product Portfolio to Its Asset Protection Division
{May 3rd, 2022} by Protective
BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation, a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), is proud to announce that its principal subsidiary, Protective Life Insurance Company, completed the acquisition of leading automotive finance and insurance provider AUL Corp. (“AUL”). The transaction, which was announced on March 21, 2022, allows Protective to offer additional solutions, protect more customers […]
Mutual of America Financial Group Announces Agreement to Acquire Landmark Life Insurance Company
{May 3rd, 2022} by Jamie Johnson
NEW YORK, April 26, 2022 /PRNewswire/ — Mutual of America Financial Group announced today that it has entered into a Stock Purchase Agreement to acquire Landmark Life Insurance Company, a widely licensed Texas life and annuity insurance company (“Landmark Life”). The transaction is expected to close during the third quarter of 2022, subject to customary closing conditions, including regulatory approval. “The […]
The Positives And Negatives Of Fixed Annuities
{May 3rd, 2022} by Harry Stout
As we move through 2022, and given the economic uncertainty they face, aging consumers are becoming more familiar with the great intrinsic value of fixed annuity products (e.g., tax deferral, principal protection, guaranteed income options, unlimited purchase ability, and probate avoidance among others). Consumers are asking more questions about fixed annuities in order to improve […]
A Simple Strategy To Use Life Insurance For Income Protection
{May 3rd, 2022} by Jim Karthaus
As a Marine helicopter pilot, I was the unfortunate witness of too many young families losing a loved one. The pain of sudden death is overwhelming. Our hearts and minds seem to lack the ability to comprehend the magnitude of such loss. Time may heal all wounds, but it is excruciatingly slow at healing the […]
Fidelity National Prepares to Spin Off Part of Annuity Unit
{May 3rd, 2022} by Allison Bell
Fidelity National Financial is preparing to give a 15% stake in its F&G Annuities & Life subsidiary — the unit that holds Fidelity & Guaranty Life Insurance Co. — to its shareholders. Fidelity National is the Jacksonville, Florida-based title insurer that acquired F&G in June 2020. F&G is a Des Moines, Iowa-based life and annuity […]
DOL Plans On Fiduciary Definition Captivate LIMRA Audiences
{May 3rd, 2022} by John Hilton
TAMPA–Opinions are mixed here on whether the Department of Labor will pursue a strict fiduciary standard that would rope in retirement plan sales of insurance products. Officially, it is expected that the DOL will deliver a new fiduciary rule definition any day. Those plans were laid out in a previous department regulatory agenda. “Our expectation […]
‘Fear Of Technology’ Is Gone; Life Insurers Need To Step Up
{May 3rd, 2022} by Doug Bailey
TAMPA, Fla. — When it comes to the acceptance of digital and online technology, the retail banking and P&C industries are as much as three years ahead of life insurers, which have been slow to innovate with new emerging systems and is sorely in need of a reset. That’s the conversation starter that Kartik Sakthivel, […]
Why Advisors Shouldn’t Dismiss Index-Linked Annuities
{May 3rd, 2022} by Michael Finke
Sales of protection-focused annuity products were higher in the fourth quarter of 2021 than the combined total of accumulation and income-focused annuities, according to data from the Secure Retirement Institute. In fact, the sales of [structured annuities*] have led the protection annuity charge with sales more than doubling from $4.3 billion in the second quarter […]
Florida’s financial literacy push is a teaching moment for advisers
{May 3rd, 2022} by Mark Schoeff Jr.
Charlie Fitzgerald and other members of the Florida Financial Planning Association had been trying for years to advance financial literacy in the state. Click HERE to read the full story via InvestmentNews
States where financial literacy is highest in 2022
{May 3rd, 2022} by InvestmentNews
Amid April’s celebration of National Financial Literacy Month, WalletHub has ranked the 50 states and the District of Columbia on their residents’ financial literacy. Click HERE to view the full story via InvestmentNews
Why Advisors Shouldn’t Dismiss Index-Linked Annuities
{May 3rd, 2022} by Michael Finke
Sales of protection-focused annuity products were higher in the fourth quarter of 2021 than the combined total of accumulation and income-focused annuities, according to data from the Secure Retirement Institute. In fact, the sales of registered index-linked annuities (RILAs) have led the protection annuity charge with sales more than doubling from $4.3 billion in the second […]
Reliance Standard
{May 3rd, 2022} by Broker World
Reliance Standard Life Insurance Company has introduced a new annuity product for use by individuals seeking to preserve capital and generate steady returns. The Reliance Accumulator™ is a fixed index annuity product that builds on the success of Reliance Standard’s legacy Keystone Index annuity, which will continue to remain available. The Reliance Accumulator offers five, […]
Long Term Care Annuities: A “Low Friction” LTC Product
{May 3rd, 2022} by Charlie Gipple
As I discuss this particular product type as being a “low friction” long term care sale, I do not want the reader to gather that the main reason to sell it is because it’s a “layup” sale whereas the client will give up value versus a better/higher friction product. After all, I will always work […]
Giving Guaranteed Income A Raise
{May 3rd, 2022} by Michael Yavorsky
The development and use of income riders on fixed index and variable deferred annuity contracts over the last number of years has been widespread. Many consumers are now reaching the age to “turn on the income faucet.” But are these the only income options available for clients with deferred annuities? They are not. A single […]
Kansas City Life Announces First Quarter 2022 Results
{May 3rd, 2022} by Kansas City Life Insurance Company
KANSAS CITY, Mo., April 29, 2022 /PRNewswire/ — Kansas City Life Insurance Company recorded a net loss of $7.7 million or $0.79 per share in the first quarter of 2022 compared to a net loss of $0.7 million or $0.07 per share in the first quarter of 2021. The largest factor in the decline in net income in the first quarter of 2022 compared to […]
Fidelity National Financial Announces First Quarter 2022 Earnings Release and Conference Call
{May 3rd, 2022} by Fidelity National Financial, Inc.
JACKSONVILLE, Fla., April 26, 2022 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF) (the “Company”), a leading provider of title insurance and transaction services to the real estate and mortgage industries and a leading provider of insurance solutions serving retail annuity and life customers and institutional clients through FNF’s wholly-owned subsidiary, F&G, will release first quarter 2022 earnings […]
Simplicity Continues Its Growth Trajectory with the Acquisition of Financial Security Associates and Welcomes Paige Blair as a Partner
{May 3rd, 2022} by Simplicity Group
SUMMIT, N.J., May 2, 2022 /PRNewswire/ — The Simplicity Group (“Simplicity”), one of the nation’s leading financial products distribution businesses, today announced the acquisition of Financial Security Associates (“FSA”), a Raleigh, NC-based firm specializing in life insurance, annuity, and disability income. Founded in 1993 by industry veteran Dwight Carter, FSA has grown from a small regional organization to a […]
New York Life Launches Love Takes Action Podcast Series
{May 3rd, 2022} by New York Life
New York Life Launches Love Takes Action Podcast Series The eight-part pilot delivers rich and compelling audio narratives beginning April 26 April 26, 2022 09:30 AM Eastern Daylight Time NEW YORK–(BUSINESS WIRE)–Today New York Life, America’s largest1 mutual life insurer, launches its inaugural podcast series, Love Takes Action, hosted by actor and writer Ellen Adair. The bi-weekly […]
Market Risks and World Tensions Are Making Americans Pessimistic About the Economy
{May 3rd, 2022} by Allianz Life Insurance Company of North America
MINNEAPOLIS–(BUSINESS WIRE)–As world tensions increase and the stock market continues to be volatile, Americans say they are increasingly pessimistic about the economy and stock market performance. In fact, less than half (47%) say they think the economy will improve in the next year, according to the 2022 Q1 Quarterly Market Perceptions Study* from Allianz Life Insurance […]
Equitable Reinforces Commitment to America’s Teachers During Teacher Appreciation Week
{May 3rd, 2022} by Equitable
NEW YORK–(BUSINESS WIRE)–Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today announced its 3-year partnership with The Council of Chief State School Officers’ (CCSSO) National Teacher of the Year Program. The program’s 2022 cohort of State Teachers of the Year is comprised of 56 educators from across the country and U.S. territories who teach […]
MassMutual Business Owner Perspectives Study: Lagging Long-Term Planning Impacts for Small Businesses
{May 3rd, 2022} by MassMutual
SPRINGFIELD, Mass.–(BUSINESS WIRE)–Still recovering from pandemic-induced challenges, U.S. small businesses are failing to plan for the long term, according to new research from Massachusetts Mutual Life Insurance Company’s (MassMutual) Business Owner Perspectives Study. Of the small businesses that survived the pandemic, most aren’t prepared for another financial shock: Only 36% are experiencing growth and almost […]
Monument Re Has Entered Into a Reinsurance Agreement With Countrywide
{May 3rd, 2022} by Monument Re Limited
HAMILTON, Bermuda–(BUSINESS WIRE)–Monument Re announced that it has entered into a Reinsurance Agreement with Countrywide Assured PLC (“Countrywide”), a subsidiary of Chesnara plc. Manfred Maske, Group CEO of Monument Re, stated that, “It has been a pleasure to work with Chesnara and Countrywide and conclude this annuity reinsurance with Countrywide.” About Monument Re Monument Re […]
Principal Financial Group® Announces First Quarter 2022 Results
{May 3rd, 2022} by Principal Financial Group
DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) announced results for first quarter 2022. Net income attributable to PFG for first quarter 2022 of $376.2 million, compared to $517.1 million for first quarter 2021. Net income per diluted share of $1.43 for first quarter 2022 compared to $1.87 in the prior year quarter. Non-GAAP operating earnings for […]
Lincoln Financial appoints Matthew Grove as Head of Individual Life & Annuities and Lincoln Financial Network
{May 3rd, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE:LNC) is pleased to announce that Matthew Grove will join the company in July as Executive Vice President, Head of Individual Life & Annuities and Lincoln Financial Network. Grove will be a member of Lincoln’s Senior Management Committee and will report to Ellen Cooper, Lincoln’s CEO-Elect, who will step into […]
AM Best Affirms Credit Ratings of Lincoln National Corporation and Its Subsidiaries
{May 3rd, 2022} 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 Lincoln National Life Insurance Company and its wholly owned subsidiary, Lincoln Life & Annuity Company of New York (Syracuse, NY). These companies are the key/life health insurance subsidiaries of […]
AM Best Upgrades Issuer Credit Rating of EquiTrust Life Insurance Company
{May 3rd, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “bbb” (Good) and affirmed the Financial Strength Rating (FSR) of B++ (Good) of EquiTrust Life Insurance Company (EquiTrust) (Chicgao, IL). The outlook of the Long-Term ICR has been revised to stable from positive while the outlook of the FSR […]
AM Best Upgrades Issuer Credit Rating of Investors Heritage Life Insurance Company
{May 3rd, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “bbb” (Good) and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Investors Heritage Life Insurance Company (IHLIC) (Frankfort, KY), which is a subsidiary of Aquarian Insurance Holdings LLC (Aquarian). The outlook of these Credit Ratings (ratings) is […]
Janet Yellen Says More Shocks Likely To ‘Challenge The Economy’
{May 3rd, 2022} by Associated Press
WASHINGTON (AP) — Treasury Secretary Janet Yellen said Thursday the global pandemic and Russia’s invasion of Ukraine highlight the possibility of big economic shocks in the future, adding that downturns are “likely to continue to challenge the economy.” Her address at the Brookings Institution looked at lessons learned from economic downturns of the past and […]
RetireOne Partners With Dr. Michael Finke on New Research that Explores the Value of Portfolio Income Insurance
{May 3rd, 2022} by RetireOne
RetireOne Partners With Dr. Michael Finke on New Research that Explores the Value of Portfolio Income Insurance Study explores the benefits of portfolio income insurance and how CDAs may offer better upside potential than a portfolio of bonds or traditional income annuities April 26, 2022 12:08 PM Eastern Daylight Time SAN FRANCISCO–(BUSINESS WIRE)–RetireOne® today released […]
Broker Words—May 2022
{May 3rd, 2022} by Stephen Howard
I think I’ve digressed before about my love for the Farm Bureau robot advisor ads.You know, the ones with a white robot with glasses that looks like a cross between John Lithgow and a George Lucas stormtrooper. My favorite line is where the husband winks and the robot says, “Your ocular cavity is experiencing a […]
Alternative Asset Based Funding For Long Term Care: Long Term Care Life Settlements
{May 3rd, 2022} by Chris Orestis, CSA
Long term care life settlements first emerged in the insurance secondary market 15 years ago as an offshoot of traditional life settlements. An overlooked asset owned by millions of seniors came into focus by care providers, political bodies, Medicaid departments, advisors, and policy owners as the realization that life insurance policies are personal property of […]
Psst… The Secret to Financial Security is Owning Life Insurance
{May 3rd, 2022} by LIMRA and Life Happens
Arlington, Va. and Windsor, Conn., April 25, 2022―According to new findings from the 2022 Insurance Barometer Study, conducted jointly by nonprofit industry trade associations LIMRA and Life Happens, 2 in 5 parents say they are barely or not at all financially secure. This is increasingly critical, as most households haven’t prepared for the loss of […]
Governor Abbott Announces Teachers Insurance And Annuity Association Corporate Center In Frisco
{May 3rd, 2022} by Governor Greg Abbott
Governor Greg Abbott today announced that the Teachers Insurance and Annuity Association (TIAA) will establish a new corporate center in Frisco, Texas. TIAA is a leading provider of secure retirements and outcome-focused investment solutions. The project will create 2,000 new jobs and nearly $58 million in capital investment. A Texas Enterprise Fund (TEF) grant of […]
Integrity Expands Life Insurance Distribution in Addition of New-Age Relentless Insurance Agency
{May 3rd, 2022} by Integrity Marketing Group
Fast-growing IMO with impeccable reputation for service and support will leverage Integrity’s technology and resources to help agents protect more American families DALLAS, April 26, 2022 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has entered into an agreement […]
Liberty Bankers Insurance Group Welcomes New Executive Leader
{May 3rd, 2022} by Liberty Bankers Insurance Group
DALLAS, April 26, 2022 /PRNewswire/ — Liberty Bankers Insurance Group (LBIG), a nationally recognized provider of life, health, and financial products, today announced the addition of Brian Clark as the new executive vice president, chief marketing officer. “Brian comes to us with more than 23 years of experience in the health insurance arena,” said Edward (Marty) Martin, president of LBIG. “At LBIG, […]
I’m Dead. Now What?
{May 3rd, 2022} by Jay Scheiner, JD, CLU
What If? My father passed away seven years ago. He was 93 when he died, but his mind started deteriorating six years before that. Alzheimer’s stealthily stole the essence of who he was, and watching him lose a step here and there was painful for our entire family. We were very close and I miss […]
The Income Annuity is the Constrained Investor’s Life Jacket
{May 3rd, 2022} by David Macchia
Imagine that you have joined some friends for a day of fishing. About two miles offshore, you sense that something is wrong. The small, single engine boat’s handling has changed. There seems to be more drag. The water level is higher than normal. It’s becoming obvious that a serious problem is unfolding. One of your […]
Sunset Life Insurance Company of America Renamed Ibexis Life & Annuity Insurance Company Ahead of New Product Launch
{April 26th, 2022} by Ibexis Life & Annuity Insurance Company
Received A- (Excellent) Rating from AM Best in Advance of Launch NEW YORK, April 25, 2022 /PRNewswire/ — Sunset Life Insurance Company of America (“Sunset Life”) announced today it will be renamed Ibexis Life & Annuity Insurance Company (“Ibexis”) as it relaunches the brand under new leadership and direction. Following the appointment of CEO Nate Gemmiti and a significant capital investment […]
Ibexis Life Hopes to Launch Its First Product by June 30
{April 26th, 2022} by Allison Bell
An insurer backed by Investcorp is moving ahead with efforts to enter the U.S. fixed annuity market. The new annuity market player, Ibexis Life & Annuity Insurance Co., said Monday that it intends to introduce a contract by June 30. Click HERE to read the full story via ThinkAdvisor
We lost a great one, friends.
{April 26th, 2022} by Sheryl J. Moore
Sitting here, mourning the loss of my friend Van Lumbard from TruChoice Financial. My thanks to Brian Peterson for the heads up. We lost a great one, friends. My favorite memory of Van was the very first time I met him. When I introduced myself (at the age of 25) as the nation’s top expert on indexed annuities, he gave […]
TruChoice Mourns Loss of Longtime Ann Arbor Annuity Exchange President, Van A. Lumbard
{April 26th, 2022} by Newswire
Lumbard, 75, was a highly respected 48-year veteran of the insurance industry MINNEAPOLIS – April 19, 2022 – (Newswire.com) TruChoice Financial Group, LLC, announced today that longtime insurance industry leader, Van A. Lumbard, passed away on April 13, 2022, surrounded by family and friends. Lumbard, 75, spent the final 25 years of his distinguished career as the president of […]
AM Best Affirms Credit Ratings of Athene Holding Ltd. and Its Subsidiaries; Assigns Credit Ratings to Athene Annuity Re Ltd.
{April 26th, 2022} 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) of the members of Athene Group (Athene). Athene, which is focused on the pension group annuity, funding agreement, fixed indexed and fixed annuity market segments, is the consolidation of the organization’s […]
AM Best Affirms Credit Ratings of Ameritas Life Insurance Corp. and Its Subsidiary
{April 26th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of Ameritas Life Insurance Corp. (Lincoln, NE) and Ameritas Life Insurance Corp. of New York (New York, NY). These insurance entities comprise the life/health operations of Ameritas Mutual Holding Company (all companies are collectively […]
Blackstone Doubles Insurer Assets, Faces Questions About Role
{April 26th, 2022} by Allison Bell
Blackstone loves managing assets for insurers, but it has no interest in assuming a large amount of investment risk itself. Blackstone Executives talked about the skin-in-the-game idea Thursday, during a conference call the company held to go over first-quarter earnings with securities analysts. Click HERE to read the full story via ThinkAdvisor
Insurance Is a People Business: MassMutual’s John Vaccaro
{April 26th, 2022} by Allison Bell
For many Americans who will have the resources to enjoy a comfortable retirement, John Vaccaro’s name could go somewhere in the credits. Vaccaro is head of MassMutual Financial Advisors and CEO of MML Investors Services. The units have built a network that includes about 7,500 career agents and registered representatives. The agents and reps sell […]
Fidelity Launches ‘Gamified’ Educational Metaverse Experience
{April 26th, 2022} by Jeff Berman
Fidelity has launched a new financial educational tool called The Fidelity Stack that it said Thursday uses gamification to teach investors the basics of investing in exchange-traded funds including its new metaverse-themed fund. The Fidelity Metaverse ETF (FMET), announced April 12, is being listed by the firm this week on the Nasdaq Global Market. The […]
AIG Will Do It. So Will Pru, Equitable and Lincoln…
{April 26th, 2022} by Allison Bell
Life and annuity issuers will begin reporting their earnings for the first quarter of this year on Wednesday, when Globe Life posts its results, sometime after 4 p.m. Eastern Daylight Time. Two large, publicly traded health insurers — UnitedHealth Group and Anthem — have already released their earnings. UnitedHealth reported higher net income on higher […]
Life Insurers Are Testing Low-Code and No-Code Programming Systems
{April 26th, 2022} by Allison Bell
Life, health and annuity issuers are hungry for high-tech systems that can reduce their dependence on live-human software developers. Five of the 28 issuers that participated in an Aite-Novarica survey said they had low-code or no-code programming technology pilot projects under way, or were planning pilot projects for that technology, in the fourth quarter of 2021, according […]
Life Insurance Is the Cornerstone of a Sound Financial Plan
{April 26th, 2022} by Brian Swerdlow
For most of us — even those of us involved, in some fashion, with financial services — discussing life insurance ranks right up there with talking about bunion surgery or debating the merits of a high fiber diet. In other words, it’s not that interesting, and there are a ton of things we’d rather be […]
Onetime Summer Intern Takes Over as New York Life CEO
{April 26th, 2022} by Allison Bell
Craig DeSanto has taken over as the CEO of New York Life Insurance — a 177-year-old company that is one of the top issuers of individual life insurance and annuities. DeSanto succeeds Ted Mathas, who will continue to serve as board chairman but give up oversight over company operations. Mathas had been New York Life’s […]
Bond Market Shift Gives Life and Annuity Issuers a Pay Raise
{April 26th, 2022} by Allison Bell
Global market gyrations and the Ukraine conflict are helping increase what U.S. life and annuity issuers earn on their bonds. Life insurers depend heavily on “corporate bond spreads” — the gap between what they pay customers for money, and what they can earn by “lending,” or renting, money to corporations and home buyers. Click HERE […]
Pacific Life’s Whirlwind Month: New Hires, Dropped Products, Layoffs
{April 26th, 2022} by Cyril Tuohy
As one of their first actions, the company’s new leaders decided to kill Pacific PremierCare, a life insurance policy that also pays long-term care benefits. The decision might seem somewhat surprising, as not many companies are exiting the business, according to Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report. “If anything, hybrid products are […]
Pacific Life to Change Long-Term Care Product Strategy
{April 26th, 2022} by Allison Bell
Pacific Life says it will focus on selling long-term care benefits riders on cash-value life insurance policies, rather than life insurance policies with built-in LTC benefits. The Newport Beach, California-based insurer is discontinuing the sale of Pacific PremierCare Choice whole life policies with LTC benefits. The company is also ending the sale of Pacific PremierCare […]
The Secret To Financial Security? Owning Life Insurance, Survey Says
{April 26th, 2022} by LIMRA
Arlington, Va. and Windsor, Conn., April 25, 2022―According to new findings from the 2022 Insurance Barometer Study, conducted jointly by nonprofit industry trade associations LIMRA and Life Happens, 2 in 5 parents say they are barely or not at all financially secure. This is increasingly critical, as most households haven’t prepared for the loss of a primary wage […]
Selecting The Right Annuity Requires Dialogue & Partnership
{April 26th, 2022} by Matthew Drinkwater
With millions of Americans entering retirement over the next decade, many will benefit from the unique features of annuities. Although the core and defining value of annuities is guaranteed lifetime income, deferred annuity products offer various combinations of downside protection and upside potential. Investors of varying levels of risk tolerance will have an abundance of […]
Kansas City Life Announces Election of Walter E. Bixby as President and Chief Executive Officer
{April 26th, 2022} by Kansas City Life Insurance Company
KANSAS CITY, Mo., April 25, 2022 /PRNewswire/ — Kansas City Life Insurance Company (the “Company”) announced today that the Board of Directors has elected Walter E. “Web” Bixby, LLIF, as President and Chief Executive Officer of Kansas City Life Insurance Company. He is currently also Vice Chairman of the Board of Kansas City Life, President of Old […]
Here’s How the IRS Can Monitor Clients’ Offshore Life, Annuity Arrangements
{April 26th, 2022} by Allison Bell
Investigators at the U.S. Government Accountability Office have come up with a list of federal tax forms and other data sources that could help government agencies track the use of offshore life insurance arrangements. The GAO developed the list in connection with a report on IRS oversight of micro-captive insurers. The report was prepared for […]
Use an Annuity to Solve the Stretch IRA Problem: Idea File
{April 26th, 2022} by Allison Bell
Gary Mettler believes he has discovered a solution to a painful new estate planning problem: the death of the stretch IRA. Mettler — who bills himself as the “Annuity Maestro” — says the new IRS proposed required minimum distribution regulations show that taxpayers can get around the effects of the change by making single-premium immediate […]
Ameriprise Financial Reports First Quarter 2022 Results
{April 26th, 2022} by Ameriprise Financial Inc
MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP): Earnings Per Diluted Share Return on Equity, ex AOCI (1) Q1 2022 Q1 2022 GAAP $6.55 GAAP 55.9% Adjusted Operating $5.98 Adjusted Operating 49.9% Ameriprise increased its quarterly dividend 11 percent to $1.25 per share First quarter adjusted operating earnings per diluted share was […]
Older Investors Blame Inflation, Low Interest Rates as They Worry About Retirement Income
{April 26th, 2022} by Michael S. Fischer
Sixty-one percent of retirement-age investors in a recent survey believe that low interest rates and rising inflation will make it harder to create a retirement income stream that will last their lifetime, Global Atlantic Financial Group reported this week. A quarter of participants said they are extremely or very concerned about the effect inflation will […]
Integrity Adds Limitless Insurance Services to Offer Compelling New Opportunities for Agents and Agencies
{April 26th, 2022} by Integrity Marketing Group
Arizona-based IMO with strong social media recruiting expertise will use Integrity’s end-to-end platform to provide best-in-class technology, products and resources to agents DALLAS, April 21, 2022 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has entered into an agreement […]
Protecting Life Insurance Policies From Going Up In Smoke
{April 26th, 2022} by Forbes Advisor
The majority of Americans would lie about using marijuana, to obtain better life insurance quotes. Those living in the Northeast were found to be most likely to lie when applying for life insurance. Over two thirds (64%) of those living in Northeastern states would hide their marijuana usage, in order to get cheaper life insurance […]
US life/annuity insurers’ revenue up by $35 billion: AM Best
{April 26th, 2022} by Jack Willard
According to a new AM Best report, publicly traded U.S life/annuity insurance companies saw a strong recovery in 2021, with a $35 billion increase in revenue to $297.5 billion. This recovery took place coming on the back of a modest increase in premiums as well as increases in net investment income and realised gains. Click […]
Wink’s demo on What’s New!
{April 25th, 2022} by Wink's Intel Pros
Springtime is synonymous with new life. Keep tabs on newly launched products in the annuity and life insurance industry with the “What’s New” section of our analysis tools, AnnuitySpecs and LifeSpecs. View a brief overview of What’s New: AnnuitySpecs Whats New LifeSpecs Whats New Join us in May for our live quarterly webinar, […]
NAILBA’s Perspectives: Things for clients to consider
{April 19th, 2022} by Sheryl J. Moore
I loved this issue of NAILBA’s “Perspectives” magazine, just because it showed all of the support for the NAILBA CHARITABLE FOUNDATION, and all of the great organizations that we raised money for! However, there is more good stuff in this issue, thanks to Pam Sheehan! I LOVED Tiffany Markarian‘s advice on digital marketing mistakes. Cynthia A. Tidwell‘s message on […]
Remember when there were only 12?
{April 19th, 2022} by Sheryl J. Moore
As a part of my job, I try to take complex indexing methods on indexed insurance products, and describe them in easy-to-understand terms. (Yes, I read sample contracts and try to communicate them in plain language!) I just want to say that I cannot stand low interest rate environments because they result in more complex […]
AIG Life & Retirement Introduces 5-Year Index Annuity for New York
{April 19th, 2022} by AIG Life & Retirement
NEW YORK–(BUSINESS WIRE)–AIG Life & Retirement, a leading provider of annuities, today announced the launch of Power Index 5 NYSM, a 5-year index annuity developed exclusively for New York and the latest addition to The Power Series of Index Annuities®. Power Index 5 NY is issued by The United States Life Insurance Company in the […]
Pacific Life to Discontinue New Sales of Pacific PremierCare Choice and Pacific PremierCare Advantage Life Insurance Products
{April 19th, 2022} by Pacific Life Insurance Company
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Effective May 2, 2022, Pacific Life’s Pacific PremierCare suite of products will no longer be available for new sales. This includes Pacific PremierCare® Choice one-year, five-year, 10-year, and lifetime premium whole life insurance products with long-term care (LTC) benefits1 and Pacific PremierCare Advantage Universal Life Insurance with Long-Term Care Benefits2 in California. “Pacific Life remains […]
