Honorable Mention
Former Wells Fargo managers take posts at Principal; Frank ‘Chip’ Gillis, Athene Holding’s co-founder, will retire at year-end; Vanguard outsources variable annuity administration to Transamerica.
AIG and CUNA Mutual enhance variable annuities
AIG's Polaris Income Plus Daily Flex and Polaris Income Plus Flex riders will have higher lifetime income rates. CUNA Mutual's Horizon II will have variable and indexed-variable investment...
Honorable Mention
Wink to provide insured product sales data by index; Participants are new to (and naïve about) investing: Schwab; iPipeline partners with Atidot, a data mining firm; Fidelity and asset...
Annuities Need More Positive ‘Positioning’
'Consumer sentiment about annuities also appears to fluctuate based on the prevailing market environment,' according to a new study from CANNEX and Greenwald & Associates.
Integrity Life issues flexible-premium longevity annuity
A 25-year-old who purchased this contract today with a single payment of $10,000 could expect a lifetime income of $2,377 a year for life starting at age 65, according...
SEC Sides with the Brokers
Although there will be no higher standard of conduct for advice on tax-deferred retirement accounts—the essence of the Obama DOL fiduciary rule—the new 'Regulation Best Interest' will apply to...
Variable annuity client behavior revealed in Ruark survey
'On a nominal basis 81% of GLWB exposure is in-the-money, whereas on an actuarial basis only 11% is in-the-money,' writes Ruark CEO Timothy Paris. (It's complicated.)
Protective pays $1.2bn for Great-West’s individual life and annuity business
'This is the fourth acquisition completed since Protective became part of Dai-ichi in 2015. Dai-ichi considers Protective to be its North American growth platform and continues to aim for...
Honorable Mention
Bank of America offers new hybrid advice model; Fidelity adds 150 new ETFs to its no-load ETF supermarket; Pacific Life taps Salesforce for CRM services; RetireUp can now model...
U.S. life/annuity insurers see higher net income in 1Q2019
Net income in the first quarter of 2019 rose sharply over the prior-year period, to $14.9 billion from $3.2 billion, due mainly to a significant decline in total expenses,...
Auto-enrollees don’t ‘borrow to save,’ researchers say
In a departure from their preliminary findings of three years ago, economists found that middle-income government workers didn't increase their debt levels after being auto-enrolled in the Thrift Savings...
Flash: House passes major retirement bill
The Secure Act (H.R. 1994), which provides for "open multiple employer plans" and reduced liability for employers who want to add annuities to their retirement plans, passed by a...
Allianz Life enhances popular FIA contracts
New benefits for people with disabilities, a two-year crediting option, and a new lock-in feature have been added to the best-selling Allianz 222, the Minneapolis-based insurer announced.
Sales of Bonds and Fixed Annuities Soar
'The uptick in fixed annuity sales was bolstered by recent volatile equity markets, which had investors seeking solutions with guarantees,' said Todd Giesing, annuity research director, LIMRA SRI.
AIG enhances index annuities
The enhanced Power Series also offers the Russell 2000, a U.S. small-cap stock index, and the MSCI EAFE, an international stock index, in addition to the existing S&P 500,...
Many regret claiming SS early: MassMutual
Many people file early because they aren’t working, lack savings, and need the monthly income Social Security provides; yet the same people would benefit most from claiming later.
Target-date CITs grew in 2018: Morningstar
Assets in target-date strategies totaled more than $1.7 trillion at the end of 2018, with $1.1 trillion in mutual funds and approximately $660 billion in target date CITs. Vanguard...
Germany struggles with defined contribution
Among low-income Germans, only 28% of those earning up to €2,500 ($2,804) a month were signed up for a workplace pension and just over half (52%) of those earning...
Honorable Mention
Securian to offer individual annuities in the bank channel; 'Bucketing' software, by subscription, for professionals and amateurs; Loans from 401(k)s still declining: T. Rowe Price.
Top earners in US own mid-sized businesses
Among the top 0.1% Americans in terms of income, business owners are well-represented. They frequently own small or mid-sized companies such as auto dealerships, beverage distributors, or large law...
