New research papers from the Journal of Retirement
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...
Athene tops 3Q2025 Annuity Sales, with 9.1% Share
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...
Research Roundup
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...
The Bucket
New record for annuity sales: LIMRA; Alight and MetLife partner to offer income annuities in DC plans; Annuities Genius launches AI-driven research tool; NAIC and ACLI differ over...
Axonic Insurance gets $210 million from new investors
'We’re decomposing the insurance industry into its parts,” Axonic Insurance CEO Michael Gordon told RIJ in 2024. “We want to make Lego sets, and put pieces together.'
Private credit, reinsurance top the news
Bond analysts see pros and cons of alternatives in 401(k)s; Private credit funds attract revenue at record pace; Offshore reinsurance increases life insurer leverage: AM Best; Rising supply depresses...
ChatGPT on Equitable, Solvency II and the Bermuda Triangle
Equitable's corporate journey since 2010 involved its separation from AXA of France. ChatGPT explains that Europe's 2016 "Solvency II" regulations accelerated the split.
Insurers, CLOs, and High-Risk Borrowers: Oh My!
By purchasing tranches of collateralized loan obligations (CLOs), insurers increasingly 'provide the ultimate funding for bank loans,' recent research says. 'Understanding these transmission channels from non-bank investors to borrowers...
401(k) Annuities for ‘Pretty Good’ Lifetime Incomes
Recognizing the longevity gap that's correlated with education, three retirement scholars recommend default income annuities starting at age 67 for participants with only high school diplomas and age 80...
Corebridge sheds the risks of its $51 billion VA business
The transaction will generate about $2.1 billion of net distributable proceeds after-tax for Corebridge, whose board authorized a $2 billion increase in share repurchases, said president and CEO Kevin...
TPG and Aquarian Holdings Vie to Acquire Brighthouse
Brighthouse is a top-10 annuity issuer, with over $100 billion in assets. But neither Brighthouse (or its predecessor, MetLife) ever sold many of the fixed indexed deferred annuities whose...
RIJ and ChatGPT Discuss the Interest on the National Debt
With the interest on the national debt reaching $1 trillion, many smart people worry that it will eventually crowd out all other federal spending. In another installment of RIJ's...
The Wheelhouse
Connecticut seeks buyers for insolvent PHL Variable; Offshoring of life insurer liabilities tops $1 trillion. News from: Empower and Sagard, MetLife, WinkIntel, Midland and Dimensional Fund Advisors, Brighthouse Financial,...
LIMRA foresees $400bn+ annuity sales in 2025
'There is greater interest in balancing commission-based products and fee-based products,' said Keith Golembiewski, assistant vice president and director of LIMRA Annuity Research.
Crypto no longer requires ‘extreme care’ from plan sponsors: DOL
'The Biden administration’s Department of Labor made a choice to put their thumb on the scale,' said U.S. Secretary of Labor Lori Chavez-DeRemer in a May 28 release....
Slow-Walking the Oversight of Insurers and CLOs: 2010 – 2025
Committees at the National Association of Insurance Commissioners since 2014 have been studying how best to regulate the purchase of collateralized loan obligation tranches by life/annuity companies from asset...
Lockheed/Athene PRT Challenge Moves to Next Stage
April's items: Federal judge allows Lockheed/Athene pension lawsuit to proceed; U.S. PRT Deals Worth $51.8 billion in 2024: LIMRA; Higher rates a ‘double-edged sword’ for life insurers: ALIRT; ‘Personal...
How Ready is Your State for Retirement? Here’s an Answer
The Georgetown University Center for Retirement Initiatives has just released a 130-page document, 'Who Lacks Access to Retirement Savings? A State Level Analysis.' You can access a pdf copy...
Participant Sentiment a ‘Hurdle’ to 401(k) Annuity Uptake: Cerulli
'The tradeoff between liquidity and a guaranteed income stream is unappealing for many participants,' a Cerulli survey of asset managers found.
Honorable Mention
In sales, deferred annuities finish 'up' year with a 'down' quarter: WinkIntel; AM Best upgrades Lincoln’s credit outlook; Axonic and Hexure collaborate on Waypoint MYGA; Invst launches pooled employer...
