Research Roundup

By Editorial Staff
We feature two deep-dive research papers on private credit. One is from Victoria Ivashina of Harvard Business School and the other from a team that includes Amir Sufi, co-author of "House of Debt" (U. of Chicago, 2014.) Plus two papers on combining income annuities with private savings and a paper on the domino effect that TDF reallocations can inflict on the bond market.
Anecdotal Evidence

The Private Credit Instability Hypothesis

By Kerry Pechter
Private credit might be healthy in moderation. But 'moderation' isn't Wall Street's modus operandi. We shouldn't expect that to change.

Athene tops 3Q2025 Annuity Sales, with 9.1% Share

By Editorial Staff
Gross sales (excluding exchanges and surrenders) of annuities reached $117 billion in the third-quarter of 2025, according to fresh survey data from Winkintel. Prominent sellers included Athene, Equitable, Jackson National, New York Life, Nationwide and Corebridge.

Investment Advice Alone Isn’t Enough

By Michelle Richter Gordon
Financial regulators long ago neglected to recognize that insurance is also a financial product, and that investments and insurance are complementary financial tools—especially for retirees, writes our guest columnist.

New research papers from the Journal of Retirement

By Editorial Staff
In the Fall issue of this quarterly publication, you'll find a story that recommends capping benefits at about $2,000, one that shows why a combination of income annuities and withdrawals from savings can enhance retirement income, and even a discussion about energizing retirement income with solar panels.

COVER STORIES YOU MAY HAVE MISSED

November 2025

Third Point Joins the Triangle, Cayman-Style

By Kerry Pechter
Another asset manager goes subtropical. Third Point Investors Ltd. established Malibu Re in the Cayman Islands, bought a Texas life insurer from Mutual of America, acquired a private credit shop, and received $25m each...
October 2025

Gold, Not Tariffs, Saved the 1890s

By Kerry Pechter
President Trump said his "Liberation Day" tariffs would boost the U.S. economy the way President William McKinley's tariffs did in the 1890s. But the boom of the 1890s came from huge gold strikes and...
September 2025

Equitable Joins the ‘Bermuda Triangle’ Club

By Kerry Pechter
Equitable Holdings' recent reinsurance deals were the topic of critical articles in three financial publications this summer. Underneath the controversy, the leader of the RILA industry was catching up with the Bermuda mega-trend.