Brexit a “negative” for US life insurers: Fitch Ratings
The Brexit vote will negatively affect GDP growth in the UK and elsewhere, which will likely prompt central banks around the world to extend their monetary easing policies, Fitch...
The short goodbye… it’s linked to retirement readiness
With mandatory retirement ages largely a relic of the past, a new whitepaper claims that a robust defined contribution plan, with auto-enrollment and auto-escalation features, can accomplish the same...
Honorable Mention
Brief or late-breaking items from MassMutual, Milliman, and OneAmerica.
Now accessible on all platforms: DOL fiduciary training from LIMRA
'DOL Fiduciary Basics for Employees' is presented in 13 multimedia vignettes, each several minutes long. The vignettes are accessible through mobile devices, tablets, or personal computers.
Lapse rates of ordinary life products near two-decade low: A.M. Best
The last two years have seen the highest persistency rates in nearly 20 years, around 86%, according to a new A.M. Best report.
Poland’s experiment with private pension funds nears end
Inspired by the late-90s equities boom, the so-called OFE program helped Poland develop a fledgling capital market, centered on the Warsaw Stock Exchange. But then came the financial crisis....
MassMutual completes purchase of MetLife’s U.S. retail advisor force
The acquisition significantly expands MassMutual's footprint in the U.S. It will grow to more than 9,200 financial professionals in more than 2,000 offices nationwide, increasing 60% and 45%, respectively.
Advisors Excel invests in technology to integrate annuities and investments
Orion will provide back-office services related to reporting, billing and client statements, integrating the investment, annuity, and life insurance products on AE Wealth Management’s client relationship management (CRM) platform.
Vanguard reports on its services for small 401(k) plans
Vanguard launched Vanguard Retirement Plan Access (VRPA) in 2011 to provide cost-effective 401(k) plans for small business owners with plans with up to about $20 million in assets.
‘Live to 100? We can’t afford it’: Allianz Life survey
"The Gift of Time" survey found that almost half (49%) of respondents were open to a non-traditional lifestyle that was unique to their interests, instead of taking a traditional...
Bank customers welcome “robo” solutions: Accenture
Of those who switched banks last year, 15% of consumers ages 55+ joined an online-only bank, up from only five percent who did the same a year ago.
‘Live to 100? We can’t afford it’: Allianz Life survey
When asked what stopped them from living a less conventional life, 46% blamed 'worries about money,' 33% said 'life events' got in the way, and 22% cited 'lack of...
Pace of stock buybacks slows: TrimTabs
Buyback announcements by U.S. companies have totaled $291.7 billion this year, or 32% lower than the $432.0 billion in the same period last year.
Honorable Mention
Brief or late-breaking items from Pacific Life, Genworth, MetLife, LPL, BlackRock, Fidelity, Prudential (2) and Advicent.
A Maserati for the Mo-ped market
Having purchased GE Capital and Honest Dollar, Goldman Sachs is poised to go down-market with retail banking, lending and retirement account services. Look out below!
MassMutual settles suit over its own retirement plan for $30.9 million
The terms of the settlement include a provision that MassMutual will not charge its plan participants more than $35 each for standard recordkeeping services for the next four years,...
Vanguard funds continue to dominate asset flows: Morningstar
Active Vanguard funds received $2.84 billion in May and $18.47 billion in the year ending May 30. Among passive funds, Vanguard funds and ETFs netted $18.94 billion in May...
European pension executives criticize quantitative easing
The European Central Bank is “distorting the market” for corporate debt, several pension executives said at an institutional investors' summit in Vienna this week.
Honorable Mention
Brief or late-breaking items from Ernst & Young, Nationwide (2), Social Security Administration, Capital One, Retirement Clearinghouse, and the Bipartisan Policy Center.
U.S. life insurers saw stocks decline in first quarter: A.M. Best
Prudential Financial reported the largest revenue decline in terms of dollars, decreasing $1.2 billion, or 7.9%, due to a combination of fewer premiums, mainly from its retirement business, and...
