Industry News
Jackson National to offer LifeYield software to advisers; Public companies need to be transparent about COVID-19 impact; AM Best sets up coronavirus web page; Americans are worried but calm:...
FYI: Legal alerts from the Wagner Law Group
This post reprints the contents of three recent alerts for employers on labor law/retirement provisions of recent federal legislation pertaining to the COVID-19 crisis, provided by attorneys at...
Investors flee to bonds: Morningstar
'As evidence of investors' lack of enthusiasm for U.S. equities, a record $27.8 billion flowed out of the SPDR S&P 500 ETF,' the fund research firm reported.
Dividend futures signal long slowdown: U. of Chicago
'As of March 18, our forecast of annual growth in dividends is down 28% in the US and 25% in the EU, and our forecast of GDP growth is...
For annuities, 2019 was great. 2020 is TBD
Sales of annuities were stellar in calendar 2019--except in 4Q, as WinkIntel and Secure Retirement Institute report. With interest rates ultra-low and investor anxiety high, 2020 sales could go...
IPO reflects ongoing shift at Jackson National
'Jackson’s fixed indexed annuity sales jumped 1,293% in 2019, while their fixed-rate deferred annuity sales climbed 169%,' said the Secure Retirement Institute this week. (Photo: Jackson CEO Michael Falcon)
How Annuity Owners Behave in a Storm
A new report from actuaries at Ruark Consulting considers how factors like 'moneyness,' crediting rates, adverse selection, and the heightened vulnerability of seniors to COVID-19 might affect the way...
Shocks loom for U.S. life insurers, annuity issuers: A.M. Best
The ratings agency identified three big headwinds facing the life/annuity industry, but also identified some strengths.
IPO Signals Strategic Shift at Jackson National
Jackson's UK parent, Prudential plc, seeks an equity capital infusion--to fuel its diversified growth strategy and to mollify mega-shareholder Dan Loeb.
Vanguard reboots a managed income fund
Instead of monthly payments, the Vanguard Managed Allocation Fund will aim for annual payments. A highly diversified fund-of-funds, it will have a 0.32% expense ratio.
Bonuses enhance yield in Allianz Life’s new indexed annuity
Low interest rates send players in different niches of the retirement business in different directions toward different solutions for different types of customers. Here's how the leading FIA issuer...
“Buffered” ETFs for sensitive stomachs
Like registered index-linked annuities (aka structured annuities), Innovator's Defined Outcome ETFs use options to generate a customized range of returns based on the movement of an equity index.
Lifetime income withdrawals from FIAs up 39%: Ruark
'Lifetime income commencement increases sharply when policies are in the money, that is, when the benefit base exceeds the account value,' writes Tim Paris, CEO of Ruark Consulting.
NAIC approves revised “best interest” rule for annuities
The revisions clarify that all recommendations by agents and insurers must be in the best interest of the consumer.
Once scorned, FIAs are now embraced: Cerulli
'FIAs should not be harmed greatly by Fed rate cuts, and if markets become volatile and or bearish, fixed annuities will once again serve as safe havens for risk-averse...
Mike Bloomberg’s Retirement Security Plans
Bloomberg favors a public-option national workplace savings program, modeled on the federal Thrift Savings Plan. Its government match would be paid for with 'a reduction in the tax break...
Annuity sales reach 12-year high in 2019
Total fixed sales in 2019 were $139.8 billion, up 5% from 2018. That broke the previous record of $133.5 billion despite a weak fourth quarter when sales dropped 18%...
Divorces over 50 roil estate planning
'Not communicating the estate plan with family members' is the most common cause of conflict (43%), followed by 'dealing with blended families' (29%), according to a TD Wealth survey.
T. Rowe Price adds growth to its TDFs
The third-largest issuer of target date funds, which reportedly lost TDF market share from 2017 to 2019, said it will raise the equity allocation of the funds' glide paths...
MassMutual to offer student debt relief program
The program, administered by CommonBond, will be offered to 2.6 million MassMutual retirement plan participants. An estimated 44 million Americans owe $1.5 trillion in student loan debt, according to...
