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...
The age-old question: How long will your clients live?
For financial advisers trying to estimate how long their high-net-worth clients will live, a new white paper from HealthView suggests that only the very healthiest people need expect to...
News briefs
High interest rates lead to record-breaking 1Q2024 annuity sales; Life insurers warm to private credit, survey shows; Jackson National introduces ‘+Income’ VA rider.
What are ‘excess return’ indexes?
Like many FIA issuers, Ibexis Life uses 'excess return' indexes in its product. In the context of FIA indexes, 'excess return” doesn’t mean 'out-performance relative to a benchmark' or...
The case for affiliated reinsurance in the Cayman Islands
The Cayman Island's "legislative and regulatory regime is less prescriptive and therefore affords prospective Cayman reinsurers greater flexibility to propose a bespoke capital model to our regulator without being...
News in brief
Researchers probe tie between auto-enrollment and household debt in the UK; Prudential closes $12.5 bn reinsurance deal with Somerset Re; Strong fourth quarter for pension risk transfers: LIMRA; PE-backed...
Auto workers’ DC plan will link to Hueler Income Solutions
Union workers at General Motors and Stellantis (Chrysler et alia) in Detroit will be able to link directly from their 401(k) platform or employee benefits portal to the Hueler...
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.
Reinsurance on NAIC agenda this week
More news: Private ownership of life re/insurers may affect credit ratings, says Fitch; F&G issues its first RILA; American Equity Investment Life reports 2023 results; Global Atlantic closes $10bn...
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,...
After record sales year for annuities, LIMRA predicts strong 2024
For all of 2023, FRD annuity sales totaled $164.9 billion, up 46% from the record set in 2022, and more than triple the 2021 sales ($53.1 billion), according to...
Annuity Sales Reach Record Highs, Again
'Economic conditions and growing demand for protected investment growth propelled fixed annuity sales to a remarkable $286.2 billion, a 36% jump from the record sales set in 2022,' said...
Pension experts assess ‘OregonSaves’
Workers in industries and firms with low wages, volatile wages, and high turnover have trouble saving, even in state-sponsored, auto-enrolled Roth IRAs, research shows.
Breaking News
Income Lab launches ‘Life Hub’; Ubiquity and Paycor announce 401(k) partnership; Amber Williams to lead Lincoln ESG initiatives.
Demographics and interest rate policy favor annuities: LIMRA
The US population aged 65 or over is expected to grow by more than 8.5 million by 2026, LIMRA said. Individual annuity sales cluster around age 65.
Bermuda ‘confident’ in regulating reinsurers
Bermuda Premier David Burt responded to concerns of US Sen. Sherrod Brown (D-OH) about Bermuda's oversight of the $707 billion of life insurance and annuity assets reinsured on the...
Robo-advice settlement costs Schwab $185 million
'We are proud to have built a product that allows investors to elect not to pay an advisory fee in return for allowing us to hold a portion of...
Breaking News
Aiming at inflation, the Fed tightens base rate by 0.75 percentage points; NWL and Achaean Financial introduce SPIA with upside; Protective Life and Michael Finke in retirement education co-venture;...
