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Pension Funding Edged Higher in February
Wed, Mar 10, 2010
“We continue to see significant interest in liability driven investing (LDI) from plans looking to limit their exposure to volatility,” said Peter Austin of BNY Mellon Pension Services.
Industry Views
The Future Of Online Customer Feedback Has Arrived
TIAA-CREF’s TC Listens website is an innovative new medium for obtaining client feedback online.
TIPS for Retirement Investing in the ‘New Normal’
TIPS can preserve purchasing power, provide systematic income and offer the assurance of a government guarantee for retirees depending on income from their investments.
Firms Back Variable Annuity Product Launches With Aggressive Online Marketing Campaigns
With variable annuity sales down, firms are intensifying online product marketing campaigns to reach more prospective investors.
Roth IRA Conversion Promotions Are All The Rage Online
Many firms have launched engaging online sales campaigns focusing on the Roth IRA conversion opportunities that will be available in 2010.
Annuity Firms Turn Their Focus To Online Client Security
Annuity firms introduced enhanced online security measures in 2009, but they remain laggards in the financial service industry.
Should Annuity Firms Care About Social Media?
The annuity industry has been slow to adopt social media. But given the industry’s target audiences, does it matter? Download an excerpt from the report "Social Media: Trends and Tactics in the Financial Services Industry."
Marketing Online Education To Advisors
Our latest research shows that dynamic displays, such as Flash interfaces, offer firms engaging new ways to present and market online educational content to advisors.
Industry Views are special reports that are sponsored and independent from RIJ's editorial content.
Data Connection
Market Watch
News
Stock Losses Won’t Hurt ‘Early Boomers’
Wed, Mar 10, 2010
Those who defer retirement to rebuild their savings may be far outnumbered by those forced to retire early by unemployment, according to National Bureau of Economic Research paper.
MetLife To Acquire ALICO for $15.5 Million
Wed, Mar 10, 2010
When the deal goes through, AIG is expected pay about $31.5 billion to the Federal Reserve Bank of New York, cutting its debt to the New York Fed to about $45 billion.
Pacific Life Creates “Retirement Solutions Division”
Wed, Mar 10, 2010
Among other things, the change reflects the recent transfer of Pac Life's structured settlements and retirement annuities business to the division.
Jackson Announces Record Sales, Profit in 2009
Wed, Mar 10, 2010
A unit of Britain's Prudential plc, Jackson National Life sold $10.0 billion in variable annuities during 2009, up from $6.5 billion in 2008.
Vanguard’s Forecast of Future Returns
Wed, Mar 03, 2010
The Vanguard Group's data suggests that annualized real returns will most likely be 6% for stocks and zero to 2% for bonds over the next 10 years.
AIG Sells Its Asian Crown Jewel
Wed, Mar 03, 2010
The sale of Hong Kong-based AIA, would help repay some of the $180 billion that AIG owes to the U.S. government.
Not Much Interest in Income Products: Cogent
Wed, Mar 03, 2010
Only 14% of those surveyed said they were very familiar with income products and only three percent said they were very interested in such products.
Western National #1 in 4Q Fixed Annuity Sales
Wed, Mar 03, 2010
Beacon Research has released its fixed annuity sales rankings for fourth quarter 2009.
In a Down Year, Four Firms Grow Their VA Sales
Tue, Mar 02, 2010
Prudential Annuities, MetLife, Jackson National Life and Sun Life Financial found a silver lining last year.
FINRA Has “Disastrous Record”: Watchdog Group
Thu, Feb 25, 2010
FINRA and other SROs have “an incestuous relationship with the industry they are tasked with regulating," according to the Project on Government Oversight.
Don’t Tax High-Earners’ Annuity Income, Says ACLI
Wed, Feb 24, 2010
It's counter-productive to finance Medicare at our customers' expense, life insurance lobby tells Obama.
Variable Annuity Sales Fall 18% in 2009
Wed, Feb 24, 2010
“The last time VA sales were at this level was in 2003, at the end of the last financial crisis,” said LIMRA's research director.
In UK, BMW Is “Ultimate Pension Machine”
Wed, Feb 24, 2010
The BMW pension plan adds to the still-new use of longevity swaps to control risk.
White House Tweaks Senate Health Care Bill
Wed, Feb 24, 2010
Obama wants to close the Medicare prescription drug 'donut hole' and regulate 'unreasonable' health insurance premium hikes.
Prudential Financial Reports Turnaround in 2009
Wed, Feb 24, 2010
Individual annuity gross sales for the fourth quarter were $4.8 billion, up from $2.2 billion a year ago.
Brokers Are More Than “Blackjack Dealers,” PA Regulators Say
Wed, Feb 24, 2010
“What's at stake here is consumer and investor confidence,” the commissioners wrote to Sens. Arlen Specter and Bob Casey Jr.
Record Sales for Indexed Annuities in 2009
Wed, Feb 24, 2010
Allianz Life was the top-selling carrier in the quarter and for 2009, and its MasterDex X was the top-selling IA for the third quarter in a row.
401(k) Balances Bounced Back in 2009: Fidelity
Tue, Feb 23, 2010
A combination of S&P 500 growth and new contributions helped raise average Fidelity 401(k) balances 28% in 2009.
Fixed Annuity Sales Fall Overall in 2009
Tue, Feb 23, 2010
Total fixed annuity sales were $105.1 billion in 2009, just 2% less than the record high in 2008.
Penn Mutual Enriches Income Benefit Without Raising Fees
Wed, Feb 17, 2010
The "Growth and Income Advantage Benefit" rider now has a 6% annual roll-up and a maximum 5% annual payout.
AllianceBernstein Adds “Volatility Management” To Target-Date Funds
Wed, Feb 17, 2010
The modified funds will “dynamically de-risk into bonds and cash when it's appropriate” to reduce overall portfolio risk.
Few Advisors Confident of Own Business Strategy: Curian Capital
Wed, Feb 17, 2010
Many advisors feel a need to change their approach but are uncertain how to go about it.
Correction
Wed, Feb 17, 2010
We erred in reporting that “When a husband in a retired couple (both at least age 62) dies, his widow's Social Security benefit, if lower, rises to match his own.”
Stellar 2008 Makes for Dismal 2009 in Bank Annuity Sales
Tue, Feb 16, 2010
“There have been only two times in the last five years where we have seen bank channel total annuity sales this low,” said Kehrer-LIMRA's research director.
CCH Reviews Tax Proposals in Obama Budget
Wed, Feb 10, 2010
“Upper-income taxpayers would actually fare somewhat better under Obama's proposals than they would under current law,” said a CCH tax analyst.
Employers Restore ‘Match,’ But Worry About Retirement Readiness
Wed, Feb 10, 2010
Only 18% of employers were "very confident" about their employees having enough retirement income, Hewitt survey shows.
At Lincoln Financial, VAs Are a Bright Spot in Down Year
Wed, Feb 10, 2010
Variable annuity deposits of $2.1 billion were up 9% over 2008 and drove net flows to $838 million, an increase of 42% year-over-year.
NewRiver Announces VA Summary Prospectus Index
Wed, Feb 10, 2010
Through January 2010, 78 variable product contracts have at least one sub-account with a summary prospectus document.
Corporate Insight Announces Monitor Award Winners
Tue, Feb 09, 2010
The annual review considered the online offerings of more than 70 financial services firms.
ING to Help Retirement Professionals Grow Their Businesses
Wed, Feb 03, 2010
The value-added program includes calculators that participants can use to estimate their retirement "number," compare their progress with that of their peers and identify potential gaps in retirement funding.
Pioneer In Life Settlements Calls It Quits
Wed, Feb 03, 2010
Goldman Sachs decided to shut down Longmore Capital, its life settlements provider, about a month after unplugging its QxX mortality index.
Agencies Seek Public Input on Lifetime Income Options
Wed, Feb 03, 2010
Two government agencies want your advice on how to include lifetime annuities or other income arrangements as distribution options in employer-sponsored retirement plans.
Putnam To Help Plan Participants Forecast Income
Tue, Feb 02, 2010
The Lifetime Income Analysis Tool allows participants to see a monthly retirement income statement based on their current savings plan and account balances.
Bank Annuity Fee Income Rose 12.9% in 3Qtr 2009
Wed, Jan 27, 2010
Through September 30, 2009, bank holding companies earned $2 billion from the sale of annuities, a 2.5% increase over the first nine months of 2008, according to the Michael White-ABIA Bank Annuity Fee Income Report.
Obama Praises Annuities, In Principle
Wed, Jan 27, 2010
His endorsement thrilled the Insured Retirement Institute, but a conservative talk radio host said the President wants to nationalize Americans' savings.
Sun Life, Miami Dolphins in Stadium Pact
Wed, Jan 27, 2010
Sun Life Stadium is now the name of the home of the Miami Dolphins, the University of Miami Hurricanes, the Florida Marlins, and the FedEx Orange Bowl. It will host this year's Pro Bowl and Super Bowl.
New BoA/Merrill Ads Ask Prospects to ‘Fill-in-the-Blank’
Wed, Jan 27, 2010
The new campaign grew from a survey suggesting that half of retirees wish they'd focused more on their ‘life goals’ when preparing for retirement.
Tiny, Embattled Presidential Life Announces a New DIA
Wed, Jan 27, 2010
The Sentinel deferred income annuity would pay a 55-year-old man $25K per year for life, starting in 20 years, for about $86,900 today.
Fresh Rumors About MetLife and AIG Reported
Wed, Jan 20, 2010
Selling Alico would help AIG repay the federal government and might strengthen MetLife's position in Asia, an analyst said.
Freedom One Financial To Use vWise Participant Education Tools
Wed, Jan 20, 2010
vWise's SmartPlan Enterprise “provides the benefits of a personal financial professional in a website available 24/7/365.”
Getting Rich Used to Be Easier, 70% Say
Wed, Jan 20, 2010
“Many Americans aren't necessarily buying into the country's long-held belief that anyone with a dream can strike it rich,” said the editor of Bankrate.com.
AXA Equitable To Help Advisors Build a ‘Retirement Income Planning Practices’
Wed, Jan 20, 2010
The program, which combines live presentations with self-study materials, is approved for continuing professional education credit in 49 states.
Mike Treske To Run Annuity Sales and Distribution at John Hancock
Wed, Jan 20, 2010
He succeeds Robert T. Cassato, who will assume a new role as a senior advisor to Manulife Chief Operating Officer John D. DesPrez III on global distribution strategy.
TARP Recovery Fee Could Affect Insurers
Wed, Jan 20, 2010
If implemented, the proposal would require certain insurers to pay a fee equal to 0.15% of “covered assets.”
Life Insurers ‘Cautiously Optimistic’ LOMA Says
Wed, Jan 20, 2010
Most companies are predicting 2010 sales growth, premium growth and profitability to be modest to flat compared to 2009.
Western & Southern Enhances Income Annuity
Wed, Jan 13, 2010
Third-quarter 2009 YTD sales of Western & Southern's IncomeSource SPIA were $170.42 million, a 43% increase over the same period in 2008.
Anglo-American Economy Still Needs ‘Sugar Daddy’—Bill Gross
Wed, Jan 13, 2010
U.S. and U.K. asset markets may suffer from the absence of the nearly $2 trillion of government checks written in 2009, opines PIMCO's founder.
Will “Auto-Enrollment” Kill the Employer Match?
Wed, Jan 13, 2010
By raising participation rates, auto-enrollment will raise the cost of employer-matching efforts and may encourage some employers to reduce or eliminate their match.
Life Insurers Face Lean Years: Ernst & Young
Wed, Jan 13, 2010
Instead of relying on a “back-to-basics” strategy in 2010, insurers should focus on innovating in five key areas, said the leader of E&Y's Financial Services and Insurance & Actuarial Advisory Services practice.
