Ubiquity and Sallus partner on new Pooled Employer Plan
Sallus Retirement is backed by Magis Capital Partners and its CEO is former Jackson National president James Sopha. Chad Parks founded Ubiquity as "The Online 401(k)" more than 20...
Aspida Financial to begin issuing annuities in 2022
With approximately $2.3 billion in assets under management as of March 31, 2021, Aspida plans to 'underwrite new insurance products, execute reinsurance transactions, and pursue opportunistic acquisitions.'
Honorable Mention
White House nominates Lisa Gomez to lead EBSA section of the DOL; Blackstone to manage almost $100 billion for AIG by 2027; DOJ nixes Aon-WTW mega-merger; American Equity issues...
Annuity Sales Rebound in 2Q2021; RILA Sales More Than Double
'Strong equity market gains and lower volatility, as well as rising interest rates all contributed to the remarkable rebound in the annuity market,' said Todd Giesing, assistant vice president,...
Number of PE-Owned US Insurers Jumped 31% in 2020: NAIC
A new report from the National Association of Insurance Commissioners describes the investment holdings of the growing population of insurers--mostly life insurers--that are owned wholly or in part by...
Honorable Mention
Prudential sells its retirement plan business to Empower; A Monster First Half for Fund Flows: Morningstar; Bull market in stocks helps public pensions: Milliman.
Allianz Life offers in-plan indexed annuity with living benefit
'Allianz Lifetime Income+ Annuity' comes with two annual bonuses to participants who maintain the contract through retirement. Whether plan sponsors will embrace this type of in-plan income solution remains...
Insurers remain prime targets for private equity: AM Best
A new Best’s Special Report, 'Insurance Companies Remain Prime Targets for Private Equity,' notes that the annuity insurers’ business model is a prime target for the new private equity model,...
Global Atlantic to reinsure Ameriprise annuities
Under the agreement, Ameriprise’s subsidiaries will transfer $8 billion worth of annuity assets and liabilities to Global Atlantic’s subsidiaries. Global Atlantic will pay Ameriprise $700 million for the contracts.
Principal Financial shrinks its exposure to retail annuities
The company said it 'will fully exit US retail fixed annuities— discontinuing new sales of its deferred annuities, payout annuities, indexed annuities—and will pursue strategic alternatives, including divestiture, of...
More Plan Sponsors Want to Keep Retiree Accounts: Cerulli
For years, people have been rolling their DC plan assets over to brokerage IRAs at retirement. Many plan providers hated to lose the managed money, but plan sponsors were...
Insurers increase their private equity holdings: AM Best
Low interest rates, mild inflationary environments and the prospects for higher investment yields are tailwinds for private equity investments. But financial stress in the markets or severe public...
Honorable Mention
Principal's new pooled employer plan Is growing quickly; 'Personal Retirement Strategy' will support Bank of America plan participants; Allianz Life survey reveals hot-button personal finance issues; Tom Smith will...
Feds block Aon’s bid for Willis Towers Watson
In suing to block the mega-merger, the Justice Department said the merged firms could 'use their increased leverage to raise prices and reduce the quality of products relied...
Top-Selling Annuity Contracts, First Qtr 2021
Wink's first-quarter sales data showed that Perspective II from Jackson National, the Allianz Benefit Control Annuity, and Prudential's FlexGuard contract were the best-sellers in their respective product categories.
Investors Sought ‘Cheaper, More Cyclical’ Stocks in May: Morningstar
US equity fund flows were quiet for the second consecutive month. After taking in a record $54 billion in March, inflows were just $211 million in May, according to...
Vanguard publishes 2021 ‘How America Saves’
In this 20th annual survey of its own 1,700 retirement plans and 4.7 million participants, the full-service plan provider and fund giant offers a detailed snapshot of plan design...
Honorable Mention
Prudential ‘FlexGuard’ RILA adds income feature; Americans seek more ‘holistic’ view of their finances: Franklin Templeton poll; Riskalyze and RightCapital report ‘seamless integration’; Voya certified in ESG by...
AM Best’s outlook for the annuity industry: Negative
'The negative market segment outlook is due to the persistent low interest rate environment, operating margin pressure and organic growth challenges,' a new AM Best report said.
