Innovator Capital Management and Milliman have built the first structured outcome product on an exchange-traded fund (ETF) chassis, challenging the annuity monopoly in this category.
The new Allianz product offers four index options, two death benefit options, five combinations of performance caps and downside buffers and a living benefit rider with deferral bonuses and a fixed or potentially rising income.
LIMRA Secure Retirement Institute research chief Todd Giesing predicted that fixed-rate deferred annuity sales would increase 15% to 20% percent this year and by as much as 25% in 2019, largely on the strength of rising interest rates.
Allianz Life annuities join Envestnet platform, Aviva (U.K.) transfers pension risk to Prudential, Millennium Trust notes growth milestones, EY announces technology investment, leadership moves, Joe Celentano succeeds Dewey Bushaw at Pacific Life, DC plan participants ‘stay the course,’ ICI survey shows, and SEC orders Transamerica entities to pay $97 million.
'This addition to Ascensus TPA Solutions goes a long way toward helping us build a national TPA,' said Jerry Bramlett, head of TPA Solutions at Ascensus.
Indexed annuity sales for the second quarter were $17.3 billion; up nearly 22.0% when compared to the previous quarter, and up more than 18.4% when compared with the same period last year, according to Wink Inc.'s latest sales report.
Mortgage loans constituted 12.4% of total invested assets in the first half of 2018, up 41% from the first half of 2014, according to a new Best's Special Report.