Denmark’s ‘Arnes’ can apply for early pensions
A new program, which acknowledges the physical toll of blue collar work, allows people to claim their state pensions up to three years earlier than the standard national pension...
Share of ‘advisor-reliant’ investors grew since 2015: Cerulli
The proportion of affluent investors who consider themselves predominantly 'advisor-reliant' rose to 42% in 2021 from 37% in 2015, according to the Cerulli Edge-US Retail Investor edition.
Pacific Life and tech partners develop annuity tool
The tool, developed with assistance from Ensight and Insurance Technologies, can compare the hypothetical performance of multiple annuities and the amount of lifetime income they could generate under varying...
How inflation impacts 2022 tax provisions: Wolters Kluwer
Taxpayers with the same income in 2022 as in 2021 will tend to experience a lower tax rate in 2022 than in 2021 due to automatic inflation adjustments, according...
Fidelity to help participants buy income annuities
The new 'Guaranteed Income Direct' program gives workers the option of purchasing an immediate income annuity, with institutional pricing and offered by an insurer they choose, along with digital...
John Hancock transfers VA risks to Venerable
Venerable Holding will reinsure $22 billion worth of in-force variable annuity contracts issued by John Hancock Life. The deal releases $2 billion in capital for Manulife, which will put...
Annuity sales dip 9% in 3Q2021 from prior quarter
Sales of all annuities in the US were $62.3 billion in the third quarter of 2021, down 9% from the previous quarter but up 12% from 3Q2020. Sales of...
Breaking News
Annuities Genius to use Cannex data for annuity comparison tool; Envestnet advisers can now access SIMON’s structured products lineup; Cost of transferring defined benefit pension risk falls slightly: Milliman;...
De Santo to lead New York Life
Craig De Santo is and will remain president of New York LIfe when he becomes CEO next April. Ted Mathas, CEO for the past 14 years, will serve as...
Breaking News
New bill would tax billionaires’ unrealized gains; Largest defined benefit pensions near 100% funding: Milliman; Know your ‘end-investor,’ Cerulli urges asset managers; Envestnet Insurance Exchange will carry Equitable RILA.
SRI Survey: Annuities fit middle-income and mass-affluent
Of advisers who serve retirees and pre-retirees with less than $500k in financial assets, 48% say that annuities are more appropriate for these clients than wealthier clients, the Secure...
Investcorp buys Sunset Life, sets up Insurance Solutions unit
Investcorp hired Todd Fonner and Nathan Gemmiti, executives with experience at Blackstone and Apollo, respectively, to run its new venture providing investment guidance to life insurers.
Consortium to promote income options in 401(k) plans is formed
So far, Nationwide and Alliance Bernstein have joined the “Lifetime Income consortium,” which was created by Cannex, Broadridge FI360 Solutions, and Fiduciary Insurance Services.
New RBC capital factors will affect insurer investment policy: AM Best
A new Best’s Special Report, “Navigating the New NAIC Risk-Based Capital Factors,” states that insurance companies likely will see increased required capital for bonds.
Private equity/life insurer partnerships proceed
American Equity invests in residential real estate firm; Everlake Life is born, a child of Blackstone; AIG and Blackstone close $50 billion deal; Sunset Life rating under review after...
Survey focuses on rising use of alternative assets by insurers
'The search for yield amid low interest rates has driven insurers into non-traditional asset classes and away from traditional safe havens,' said Sandeep Sahai, CEO, Clearwater Analytics. He urges...
Breaking News
DOL sets new schedule for enforcing fiduciary rules; Annexus and Sammons roll out FIA with ESG index, multi-option rider; RIAs can now access an Allianz RILA with income rider...
Retirement-related tax breaks = $276 bn in 2019
The value of exclusions and deferrals of taxes for contributions to and earnings in pensions and retirement savings accounts was $276 billion in 2019. The exclusion for employee health...
Retirement reforms cut from Build Back Better Act
The 'back door' Roth IRA will not be closed, and limits won't be placed on contributions by higher-income individuals with large account balances, NAPA Net reported.
Breaking News
Investcorp hires ‘insurance solutions’ expert away from Blackstone; US ranked 19th among world’s retirement systems; Pacific Life VAs to include Invesco ‘Defined Outcome’ funds; Fund and ETF flows abate...
