Breaking news
‘Bermuda Triangle’ on LIMRA conference agenda; AIG issues new five-year FIA for New York; Falling sales prompt Pacific Life to discontinue LTC products; DeSanto takes CEO reins at New...
Who snagged the best investment results in 2021? Dalbar knows
Dalbar founder Lou Harvey's latest Quantitative Analysis of Investor Behavior shows how much more equity investors might have earned in 2021 if they had stuck to the fundamentals. But...
Breaking News
MetLife launches 'private equity fund' platform; Inflation, war affect asset allocations at pension funds: bfinance; Eagle Life enhances index annuities; Elizabeth Heffernan joins Micruity.
Net income of stock life/annuity firms tripled in 2021: AM Best
'The persistent drag from low interest rates continues to impact margins, but ongoing growth in general account invested assets has pushed investment income higher,' said Best's analysts.
Prudential divests $31 billion block of in-force VAs
Prudential executive vice president and head of US Businesses Andy Sullivan said his company will focus on selling more of its “protected outcome solutions, like FlexGuard and FlexGuard Income.”
Breaking news
US among countries with lowest fund fees: Morningstar; Old-age poverty scarier than death for the unretired: Allianz Life; American Funds and Morningstar partner for ‘Target Date Plus’; Prudential’s PRIAC...
Advice is still a luxury item
Either because they avoid advisers or advisers avoid them, about 80% of investors with less than $100,000 saved do not have a financial adviser, according to Cerulli. Fees are...
Breaking News
Annexus and State Street partner on TDF with income rider; SEC seeks more SPAC disclosure; RetireOne hires McNeela and Cusack; SEC aims to regulate securities dealers, market makers; ‘Thematic...
Goldman Sachs acquires NextCapital
NextCapital, based in Chicago, is an open-architecture digital retirement advice provider that partners with US financial institutions. Terms of the acquisition were not disclosed.
‘SECURE 2.0’ Passes House, Moves to Senate
Retirement industry stakeholders and their representatives praised the passage of the bill, HR 2954, which loosens the rules on RMDs and QLACs and clears the way for ETFs in...
Breaking News
Equitable to buy CarVal, a $14.3bn alt-assets manager; Life/annuity industry capital and surplus at year-end 2021: $444.5 bn; HealthView Services reports on rising medical costs; PBCG licenses insurer data...
Target-date fund assets grow to $3.27T: Morningstar
Five providers control 79% of the target-date market: Vanguard, Fidelity, BlackRock, State Street, and American Funds, according to Morningstar's 2022 Target-Date Strategy Landscape report.
Deferred annuity sales reach $243 billion in 2021: Wink
The top selling annuity issuers by category were Jackson National (variable), Athene (indexed), Allianz Life (structured), and Global Atlantic (fixed-rate). Jackson and MassMutual were the top sellers of variable...
New MassMutual VA features RetirePay, an income rider
Best known as a fixed annuity specialist, MassMutual had just $11.7 billion in VA assets under management as of Sept. 30, 2021, according to Morningstar. Overall, MassMutual was ranked...
Life/annuity industry moving toward equilibrium: AM Best
The life/annuity industry is approaching an equilibrium between companies seeking 'to build a less capital-intensive business' and those with 'a capital-intensive business appetite,' the ratings agency said.
AIG, Innovator, and Reliance Standard announce new products
AIG and Annexus co-launched X5 Accelerator, a fixed indexed annuity (FIA) with a lifetime income option; Innovator added 'Buffer Step-Up' strategies to its lineup of Managed Outcome ETFs, and...
For Jackson National Life, 2021 was a pivotal year
In reporting its fourth quarter and full-year 2021 results, Jackson National Life marked its separation from Prudential plc, its listing on the New York Stock Exchange, and $3.2 billion...
How RIAs can stay ahead of the competition: Cerulli
Broker-dealers 'are impinging on what has historically been viewed as largely unique to the RIA channels—an independent, fee-based business centered on financial planning,' a new Cerulli Associates report says.
Raising Social Security age may be necessary, actuaries say
Increases in US longevity point to a need to drive up the age for claiming full OASI benefits, says the American Academy of Actuaries. But the rich live longer...
Lawsuits against DOL won’t change client strategy: Reish
On February 2, the Federation of Americans for Consumer Choice sued the DOL in Texas federal court. In a second suit, the American Securities Association sued the DOL in...
