A Closer Look at CLOs
New research into collateralized loan obligations (CLOs), which are helping reshape the investment policies of the life/annuity industry, explores whether they have the same vulnerabilities as the 'CDOs' in...
Biden’s Retirement Policy
Biden has made strong promises about fixing Social Security, strengthening labor unions, and helping to finance a green economy. Will he be able to keep those promises? Does he...
The ‘Securing a Strong Retirement Act of 2020’
The House has introduced a sequel to last year's SECURE Act. Once again, legislators have listened to the retirement industry and tried to remove what the industry considers obstacles...
Now Divesting: AIG, Equitable and Great American
De-risky business: AIG will spin off its Life & Retirement division, Venerable Holdings will reinsure $12bn worth of Equitable's pre-2010 variable annuities with living benefits, and Commonwealth Annuity (part...
Nationwide wants five pieces of the in-plan annuity market
Nationwide, the 10th-largest annuity issuer in the US and a provider of about 34,500 retirement plans, is launching a cluster of in-plan annuities. RIJ talks with Eric Stevenson, president...
Drama in Des Moines
Rejecting a takeover bid by Athene and MassMutual, fixed index annuity issuer American Equity will partner with Brookfield Asset Management. The deal releases up to $350m in capital for...
Honorable Mention
Protective’s new fee-based VA available at RetireOne; U.S. could save trillions in health care costs in coming decades: McKinsey; Vanguard adds new manager to its International Value Fund
A Look at Biden’s Social Security Plan
There's more to Biden's proposal than raising payroll taxes on >$400k earners. The wealthy would see their benefits go up more in dollars, while the poor would see theirs...
Jim Otar’s Swan Song on Retirement Income
The famed Canadian adviser-of-advisers and author, now retired, has released his latest and last book, 'Advanced Retirement Income Planning.' It's a concise version of his magnum opus, 'Unveiling the...
A Closer Look at CLOs (and Other U.S. Credit)
Bond mavens, check this out. A new SEC report describes how most of the $54-trillion dollar U.S. credit market survived last spring's financial crisis. It covers securitized 'leveraged loans,'...
Why American Equity’s Share Price Spiked Today
With new management and a new business model, American Equity Investment Life hopes to climb back onto the FIA sales leaderboard. It's using the strategy that RIJ dubbed 'The...
She’s Got Advice for Life Insurers
'Insurers can't remain wedded to product sales, which are becoming commoditized in a future that trends toward financial advice,' says industry veteran Michelle Richter, who just launched Fiduciary Insurance...
Searching for Yield? Here’s Where to Look
Bond gurus Anne Mathias of Vanguard and Rick Rieder of BlackRock spoke at the Morningstar Investment Conference last week. Emerging markets, real estate debt, and asset-backed securities are...
Long Guns as Leading Indicators
In past election periods, when I’ve canvassed door-to-door, some people have told me they won’t bother to vote because politicians are all alike. But they aren’t.
The Sacrificial Payroll Tax
Idle talk about suspending the payroll tax is making 'blue' Senators blue. We get answers from Social Security expert Eugene Steuerle of the Urban Institute.
An Income-Generating ‘Collar’
Using a 'protective net-credit collar,' the Nationwide Risk-Managed Income ETF has distributed monthly income at an annual rate of 7.88% in 2020, while appreciating 10%. Is there a catch?
Two Cheers for DOL’s Lifetime Income Disclosure
The Department of Labor's 'interim final rule' on disclosure of estimated lifetime income from 401(k) balances is welcome, but it lacks a critical feature. Public comments might improve it.
Life Insurers’ Bermuda Triangle, Part II
The humble fixed indexed annuity is at the center of the restructuring hurricane that has swept through the life insurance industry in recent years. We bring you the second...
Why Life Insurers Fly into the ‘Bermuda Triangle’
Private equity firms have steadily acquired U.S. life insurers and blocks of fixed annuity business and moved the blocks offshore to free up capital. This worries some people.
Is a P.E.P. Rally About to Start?
Willis Towers Watson and Aon both suggested in letters to the Labor Department that they may create defined contribution plans (Pooled Employer Plans, or PEPs) that many employers and...
