J.P. Morgan Asset Mgt Joins the 401(k) Annuity Race

By Kerry Pechter

To educate participants, JPMAM's ‘My Retirement Income Planner,' an online tool for 401(k) participants, will help them decide whether to cover 25% of their plan savings with an Equitable or Prudential lifetime income guarantee at retirement.

‘If you’re not talking about it, you’re not winning’

By Kerry Pechter

'The topic of retirement income is a relevant discussion for J.P. Morgan to have, even if it doesn’t turn out to be a big asset gatherer for them,' said Mark Fortier, an actuary who has long experience with 401(k) annuities.

Most annuities bought to reduce investment risk: LIMRA

'Most annuities are purchased as protection from investment risk, not for longevity risk,' LIMRA research chief Bryan Hodgens said. 'Most fixed index and RILA contracts are bought without a guaranteed living benefit. We have seen a slight uptick in consumers buying the GLB rider on FIAs and RILAs.'

US life/annuity insurers cede $1.74 trillion to reinsurers, 2016-23

New capital keeps flowing into the reinsurance segment, primarily via reinsurers owned by investment managers focused on annuity business, AM Best analysts write. These newer entrants co-insure assets that can be rolled into high-yielding public, private or alternative fixed income products.

Why 401(k) Plan Sponsors Remain Wary of Annuities

By Kerry Pechter

The SECURE Act of 2019 did too little, too soon, in opening up 401(k) plans to all kinds of annuities. Some big 401(k) plans are ready to offer in-plan deferred annuities or out-of-plan immediate annuities, but the rest of America, not so much.

Wink’s Annuity Sales & Market Report, 2Q2024

Athene USA was the annuity sales leader (overall market share of 8.2%; 11.9% for non-variable deferred annuities), followed by MassMutual, Corebridge Financial, Equitable Financial and Nationwide.

Honorable Mention

Top news items: GAO investigators go 'undercover' to study conflicts of interest; SEC charges six major ratings agencies with record-keeping lapses; How the commercial real estate bust could affect US life insurers; Prudential expands its reinsurance strategy; Voya tops $100bn across multiple employer solutions; Nassau issues new FIA with 18% bonus; American Life & Security launches new FIA.

Data Connection: Data Connection

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