The view from Big Sky country

Hunting for Elk, Deer, and MYGAs

By Kerry Pechter
'If the rate on a MYGA is higher than anyone else's, with a commission higher than anyone else's, then the company is likely taking too much risk,' says Montana insurance agent Bryan Anderson. 'It's not a very scientific indicator but it makes sense to me.'
Anecdotal Evidence

A Case of Missing STOLI (not the Vodka)

By Kerry Pechter
'Defendants acquired PHL and in 2016 to preserve PHL, strengthen its finances, and honor its existing contracts. They did the opposite. Defendants systematically and callously pillaged PHL’s assets,' says the suit against Golden Gate Capital and others.

Axonic Insurance is the Surprise Story in MYGA Sales

By Editorial Staff
Axonic Insurance’s chief operating officer told RIJ that the young company plans to avoid the more conflicted practices—arising from financial reinsurance, private market assets, and investments in affiliated companies—that characterize the 'Bermuda Triangle' strategy.

Stark warning about offshore reinsurance from NAIC Committee Chair

By Editorial Staff
Wisconsin insurance commissioner Nathan Houdek said life insurer documents raised "significant concerns" about the ability of many of the newest practitioners of what RIJ calls the 'Bermuda Triangle' strategy 'to pay future claims under reasonable economic scenarios.'

Bermuda Shorts

By Editorial Staff
Apollo to help bring $5 billion to Mubadala Capital; Bermuda reinsurer co-started by Symetra and TIAA; Carlyle and Basic Capital to bring private assets to DC plans; Agam Capital to advise Empower; NAIC to spend more on responses to AI, complex investments and cross-border strategies; TruSpire, a Malibu Life company, launches two new FIAs.

COVER STORIES YOU MAY HAVE MISSED

October 2026

Three Solutions for Social Security’s Shortfall

By Kerry Pechter
Better to cut benefits for the 'rich' than to raise taxes, says one school of pension experts. Investing payroll taxes in securities won't solve the underlying demographic problem, an MMT advocate warns.
September 2026

How Leveraged Are Bermuda Triangle Life Insurers?

By Kerry Pechter
The 'capital-light' strategies of Bermuda Triangle companies rely heavily on leverage. RIJ identifies several ways in which affiliated life insurers, asset managers and reinsurers use other people's money.