Index-linked annuities lead sales surge: LIMRA
The overall sales leader was Athene Annuity & Life, with sales of $27.98 billion concentrated in fixed deferred annuities, followed by Corebridge, MassMutual, Allianz Life of U.S. and Equitable.
Annuities
Middleware is Central to In-Plan Annuities
Middleware is hub-and-spoke software that lets retirement plan recordkeepers and life insurers talk to each other. Steve McCoy of iJoin, a provider of managed account user interfaces, and Bill...
Sen. Warren Speaks Up for ‘Fiduciary Rule,’ Puts Down Annuity Sales Perks
Sen. Elizabeth Warren's (D-MA) new white paper details the sales incentives that annuity issuers offer insurance agents; the incentives, she says, show that the DOL's long-denied 'fiduciary rule' is...
Lessons from Britain’s national ‘NEST’ egg program
NEST is the U.K.'s experiment with a government-sponsored, portable defined contribution plan for low- and middle-income workers at small companies. Most NEST participants are still far from retirement, but...
US life/annuity insurers cede $1.74 trillion to reinsurers, 2016-23
New capital keeps flowing into the reinsurance segment, primarily via reinsurers owned by investment managers focused on annuity business, AM Best analysts write. These newer entrants co-insure assets that...
Why 401(k) Plan Sponsors Remain Wary of Annuities
The SECURE Act of 2019 did too little, too soon, in opening up 401(k) plans to all kinds of annuities. Some big 401(k) plans are ready to offer in-plan...
Most annuities bought to reduce investment risk: LIMRA
'Most annuities are purchased as protection from investment risk, not for longevity risk,' LIMRA research chief Bryan Hodgens said. 'Most fixed index and RILA contracts are bought without a guaranteed...
Wink’s Annuity Sales & Market Report, 2Q2024
Athene USA was the annuity sales leader (overall market share of 8.2%; 11.9% for non-variable deferred annuities), followed by MassMutual, Corebridge Financial, Equitable Financial and Nationwide.
British regulators scrutinize ‘FundedRe’ in pension deals
The Prudential Regulatory Authority, the Bank of England's financial regulatory arm, told UK life insurers in late July that it has concerns about the use of 'funded reinsurance' (FundedRe)...
RIJ Launches the 401(k) Income Research Center
RIJ intends to give plan sponsors, plan advisors, retirement plan service providers and others an up-to-date, easy-to-access source of curated information and competitive intelligence on products and processes that...
High rates drive high interest in annuities: LIMRA
'After years of ultra-low interest rates, LIMRA believes conservative investors, who were sitting on the sidelines reluctant to lock in low rates, have poured money into the market as...
Should Participants Get Lifetime Income By ‘Default’?
The ERISA Advisory Council heard testimony on whether to tweak the rules for Qualified Default Investment Alternatives to accommodate—or exclude—annuities. Advisors to 401(k) plans should read this.
Annuities enjoy record sales in 1Q2024
'Total annuity sales have come down from fourth quarter 2024, largely due to a softening in the fixed-rate deferred annuity market. However, LIMRA expects annuity sales to perform well...
Athene’s group annuities not the ‘safest available,’ lawsuit charges
The suit against Athene may be a test case for the legitimacy of Bermuda Triangle strategy. In other news from the Bermuda Triangle: Annuity sales boom attracts private equity-backed...
Test-drive annuities at CANNEX/Luma ‘Marketplace’
The Annuity Marketplace will provide income, rate, yield, and product information on annuities from more than 60 issuers, a CANNEX release said. Advisers can illustrate the outcomes of market...
BlackRock relaunches its “LifePath Paycheck” retirement income tool
'DCIO' asset managers like BlackRock must find ways to retain participant assets post-retirement and enrich the value of their target date funds. They must also make themselves relevant to...
A ‘Nesting Doll’ of an In-Plan Annuity
ARS, State Street Global Advisors, Nationwide, Athene, Transamerica and Global Trust Company have brought to market the State Street GTC Retirement Income Builder, a target date fund with a...
MassMutual platform to distribute Aspida Life fixed-rate annuities
The platform, Flourish, is a wholly owned and independently operated subsidiary of MassMutual. It serves more than 750 wealth management firms managing some $1.5 trillion in financial assets.
MetLife to offer income annuities on Fidelity’s platform
The MetLife solution enables participants at all savings levels to purchase an immediate income annuity through an insurer selected by their employer and annuitize any portion of their savings,...
Meet the Newest Platform in the 401(k) Annuity Space
'We’re a product design firm,' ALEXIncome co-founder E. Graham Clark told RIJ. 'We feel we’ve built the best process for integrating annuities into retirement accounts.'
