The financially fit, well-diversified insurer collected almost twice as much in annuity premiums as its closest competitor in the first quarter of 2009, benefiting from a “flight to quality” in the wake of last year’s economic meltdown.
Originally a platform for distributing structured notes to broker-dealers, SIMON is adding index-linked annuities to its product suite. Prudential is both an investor and, as of today, a product provider.
Most of the annuities now on the Charles Schwab and TD Ameritrade platforms are offered by mutual or foreign-owned life insurers. Lincoln Financial is the sole exception.
In MassMutual's new all-digital deferred income annuity, an adult child is the owner, and receives income when a parent (the annuitant) reaches age 91.
NAVA has moved from the Virginia suburbs to downtown Washington, the better to lobby Congress on behalf of annuity manufacturers and distributors. But the Association for Insured Retirement Solutions, as NAVA has called itself for the past two years, won't reveal its new name or acronym until July.
Deloitte has a new patent pending product, Life Options, that would allow consumers to purchase insurance against capital market downturns and longevity risk.
A new report from Milliman recommends ways that variable annuity issuers can simplify their living benefits to minimize a potential increase in reserves when "VACARVM" kicks in later this year.
John Hancock has launched a low-cost A-share variable annuity with a simplified lifetime income guarantee. The company hopes it will appeal to a broad swath of worried, retirement-bound Baby Boomers.
Even among workers with $100,000 or more in savings and investments, only 26% were very confident about retirement in 2009, down from 35% in 2008.
Financial Engines' Retirement Plan is “a personalized statement” that gives “401(k) participants a comprehensive roadmap” to retirement.
Journalist and scholar Ed Epstein examines New York's ongoing public pension scandal, and the “placement agents” who use their political contacts, financial experience, powers of persuasion, and other means to extract pension fund money for private equity firms.
Former MassMutual retirement income executive Stephen L. Deschenes will manage the annuities division at the U.S. division of Sun Life Financial.