At a time when low interest rates are pinching off the annuity industry’s oxygen supply—not to mention starving bond investors and crippling pensions—a Columbia University economist's rationale for raising rates might sound like salvation in certain quarters.
Guardian Life VP Douglas Dubitsky talks about the mutual insurer's variable annuity sales growth and how guaranteed income can “free an advisor to be an advisor again.”
Total annuity sales are down for the quarter and the first nine months of the year, according to LIMRA. If not for MetLife’s pull-back, variable annuity sales would be close to last year’s pace.
Volatility is the most treacherous risk for VA issuers, and complex hedging strategies are the answer. That’s the view from the Equity-Based Insurance Guarantees conference in Chicago this week.
Lincoln Financial, Allianz Life, and now Merrill Lynch have dabbled with artificial face-aging to worry people into saving more. It's based on behavioral finance research, but just thinking about this blend of science and commerce gives me grey hair.
Low rates continue to weigh on fixed annuity sales, the latest Beacon Research Fixed Annuity Premium Study shows. But Beacon CEO Jeremy Alexander said he's encouraged that “a number of carriers are developing new indexed and income annuity products."
InFRE, a non-profit education foundation devoted to “enhancing the retirement preparedness of the American worker,” will train advisors in the use of Achaean's Retirement Outcome software.
The board is seeking “further review of previously proposed changes before making any modifications,” the organization said in a release.
The Financial Stability Oversight Council is also said to be worried that the accelerating automation and speed of the financial markets, according to a news item in the New York Times.
By 2020, Canada, Japan and Russia will each see a 4% decline in their working (ages 15 to 64) populations, while the UK, US and China could see a 2% decline, said a new Mercer report, based on International Labor Organization data.
Brief or late-breaking items from T. Rowe Price and Invesco.