Company/Trade Group News
Over 40% of all deals were cross-border M&As, as companies go international in search of growth. A.M. Best believes private capital, whether buying or selling, will continue to play...
Fitch publishes “US Life Insurance GAAP Results Dashboard”
"Operating results were almost evenly split between companies reporting better returns in first-half 2015 and those reporting worse returns during the period," Fitch analysts wrote.
The People’s Retirement Industry Group
To mark the Retirement Income Industry Association’s 10th anniversary, RIIA founder and chairman Francois Gadenne (above) spoke with RIJ recently about the group’s past, present and future.
Sumitomo Life buys Symetra for $3.8 billion, a 32% premium
Symetra's current management team, led by CEO Tom Marra, will continue to run the business from Bellevue, Washington. Symetra will maintain its current brand, employees, distribution channels and product...
The SoA’s new logo is “impossible”
"The Penrose triangle (impossible triangle), among other mathematical related symbols, served as inspiration. The logo is blue, a color of trust,” said the SOA, in a release about its...
Fred Reish et al comment on DOL proposal’s impact
Attorneys at the Drinker Biddle law firm note that, under the proposal, commissioned sales of variable annuities to IRA owners would be held to a higher standard of conduct...
Stowe succeeds Wells at Jackson National Life
Jim Sopha, chief operating officer, will assume the role of president of Jackson, reporting to Stowe.
Allianz Life adds new managed risk options on VA
Allianz’s AZL MVP DFA Multi-Strategy Fund and its RCM Dynamic Multi-Asset Plus VIT Portfolio are now available on contracts that either have no additional optional benefits or have the...
DTCC enhancement will allow settlement of 1035 exchanges in one day
The asset transfers that are known as 1035 exchanges, or replacements, allow investors to move funds from one life insurance, annuity or endowment to another, without triggering an immediate...
New York Life’s new fixed deferred annuity has a GLWB
The Clear Income Fixed Annuity's lifetime withdrawal rider provides longevity risk protection income with more liquidity than a deferred income annuity, and is designed to compete well against...
Jackson National Life income up 17% in 2014, a record
Jackson, a wholly owned subsidiary of Britain-based Prudential Plc, recorded sales and deposits of $28.3 billion in 2014, up 3% over 2013.
How Are Life Insurers Coping? A.M. Best Counts the Ways
Headwinds like “marginal to declining premium growth,” an “aging agent and adviser channel,” and “regulatory uncertainty” continue to frustrate life insurers, the ratings agency says.
Citing long-term care exposures, A.M. Best lowers Genworth’s strength ratings
Genworth’s LTC business “is likely to exhibit volatility going forward due to the limited credibility of claims data, the profile of its in-force block and the challenge of achieving...
O’Brien retires; NAFA looks for new chief
A spokesman for the National Association of Fixed Annuities said it was coincidental that Kim O'Brien's retirement became effective the day that her letter requesting qualified longevity annuity status...
Life/annuity stocks struggle as low interest rates persist: A.M. Best
With an appreciation of 7.6%, Voya Financial, Inc. was the best performing life/annuity stock in the third quarter of 2014, according to A.M. Best. With a share price decline...
Life insurers grasp for yield, with mixed success: Conning
A new Conning study, “Life Insurance Industry Investments: Added Risk in 2013,” analyzes life industry investments for the period 2009-2013.
Voya CEO to run firm’s Retirement Solutions group
"We believe we can achieve our 2016 Ongoing Business operating ROE target of 12-13%, as well as our Ongoing Business operating ROC target of 10-11%," Rodney O. Martin Jr....
The Tailwinds in Vanguard’s Sails
At $64.8 billion, net flows into Vanguard funds in the first half of 2014 were greater than the flows of the next five fund families combined, according to Morningstar’s...
Alliance Benefit Group partners with Hueler Income Solutions
Over one million participants in 16,000 retirement plans administered by ABG will be able to access Hueler's online platform for purchasing single premium immediate annuities, deferred income annuities or...