The Goldman Touch
The complex deal at the heart of the SEC’s case against Goldman Sachs may reveal Wall Street to be a labyrinth or casino, but it doesn’t necessarily establish fraud.
Volcker’s Minsky Moment
“The banks shouldn’t be running casinos on the side,” said former Fed chairman Paul Volcker at the Hyman P. Minsky Conference in New York last week.
Annuity Products That Will Sell
At LIMRA's 2010 Retirement Industry Conference, consultant Timothy Pfeifer identified the deferred and immediate products that he thinks are ideal for insurers, distributors and investors today.
Turning Home Equity into Lifetime Income
A financial planner compares and contrasts three ways to create monthly income for life from a typical reverse mortgage.
Featured
Great-West Enters the In-Plan Income Space
"SecureFoundation" wraps a lifetime income rider around a set of proprietary target date funds for an all-in annual fee of 160 basis points.
The Future of DC Plans, Via PIMCO
A PIMCO executive’s new book is an ode to custom target date funds—and offers a glimpse of the Allianz unit’s retirement business strategy going forward.
News
AIG Mending, But Still Dependent, GAO Says
"The sustainability of any positive trends in AIG's operations depends on how well it manages its business in this current economic environment," said a new GAO report.
Wells Fargo Tops Bank Annuity Fee Chart
Wells Fargo & Co. accounted for $678 million, or almost 26%, of bank annuity fee income in 2009, thanks to its acquisition of the perennial leader in bank annuity sales, Wachovia Bank.
New Stable Value Unit at New York Life Investments
Aruna Hobbs, who joined New York Life in November 2009 from AEGON Insurance, will lead the new unit.
AXA Equitable VUL Offers Downside Risk Buffer
The Market Stabilizer Option offers a rate of return tied to the S&P 500 Price Return index, up to a growth cap. It also provides a downside buffer of up to 25% if the index underperforms.
Financial Reform Bill Blocked, But Derivative Bill Proceeds
Under an Agriculture Committee-backed bill, insurers who use derivatives to hedge against interest rate risk would have to use standardized derivatives contracts listed on exchanges.
Vanguard Sees Institutional TDF Flows Triple in Five Years
Participants in Vanguard-administered plans put $21.4 billion into target-date funds in 2009, up from $680 million five years earlier.
Life Insurer Capital and Surplus Grew in 2009
“Robust equity markets” markedly improved earnings in both group and annuity operations.
