MetLife retail business will be Brighthouse Financial
The separation will allow MetLife to focus “on our group business in the U.S… and our international operations,” said Steven A. Kandarian, MetLife chairman, president and CEO, in a...
Who has skin in the presidential race? Not insurers!
Low interest rates were cited as the biggest industry threat (by 37.6% of insurers), followed by increased regulations (26.2%), competition (19.3%) and antiquated business models (12.4%).
Conning expects lower annuity sales in 2016-2017
'The greatest disruption will be seen in mid-sized and large insurers with greater focus on indexed and variable annuities,' said Steve Webersen, head of Insurance Research at Conning.
Betterment reaches $5 billion in AUM
Betterment also announced this week that Amy Shapero has joined the company as Chief Financial Officer.
Vanguard emeritus Jack Brennan to chair FINRA
Brennan has served as FINRA’s Lead Governor since 2011. In June, FINRA announced that Robert W. Cook will become FINRA’s new chief executive in the second half of 2016.
Incomes, Cost-of-Living Higher in Blue States: LendingTree
In LendingTree's survey, Hillary Clinton supporters were almost twice as likely to say they were financially very happy as were Donald Trump supporters (18.3% vs. 9.3%).
A new topic for Brits to argue about: Decumulation
Two UK small-plan providers, The People's Pension and Now Pensions, don't want NEST, the public DC option for small companies, to offer a retirement income strategy in competition with...
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.
