Hunting for Elk, Deer, and MYGAs

By Kerry Pechter

'If the rate [of return] on a MYGA is higher than anyone else's, with a commission higher than anyone else's, then the company is likely taking too much risk,' says Montana insurance agent Bryan Anderson. 'It's not a very scientific indicator but it makes sense to me.'

A Case of Missing STOLI (not the Vodka)

By Kerry Pechter

'Defendants acquired PHL and [the Phoenix Companies] in 2016 [after promising] to preserve PHL, strengthen its finances, and honor its existing contracts. They did the opposite. Defendants systematically and callously pillaged PHL’s assets,' says the suit against Golden Gate Capital and others.

Axonic Insurance is the Surprise Story in MYGA Sales

Axonic Insurance’s chief operating officer told RIJ that the young company plans to avoid the more conflicted practices—arising from financial reinsurance, private market assets, and investments in affiliated companies—that characterize the 'Bermuda Triangle' strategy.

Stark warning about offshore reinsurance from NAIC Committee Chair

Wisconsin insurance commissioner Nathan Houdek said life insurer documents raised "significant concerns" about the ability of many of the newest practitioners of what RIJ calls the 'Bermuda Triangle' strategy 'to pay future claims under reasonable economic scenarios.'

Bermuda Shorts

Apollo to help bring $5 billion to Mubadala Capital; Bermuda reinsurer co-started by Symetra and TIAA; Carlyle and Basic Capital to bring private assets to DC plans; Agam Capital to advise Empower; NAIC to spend more on responses to AI, complex investments and cross-border strategies; TruSpire, a Malibu Life company, launches two new FIAs.

Data Connection: Data Connection

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