Over-estimates of variable annuity lapse rates have cost life insurers billions. A group of VA issuers is now working with actuaries at Ruark Consulting to predict those rates more accurately.
Bloomberg reported this week that Prudential is considering selling its retirement plan recordkeeping business. Prudential didn't confirm the report, but several industry insiders did. Low interest rates, high costs of IT makeovers, and sticky stable value fund guarantees are driving the move, RIJ was told.
At their software start-up, Income Lab, three former Jackson National Life executives want to help advisers help clients optimize retirement income. They enter a financial planning field dominated by MoneyGuidePro and eMoney Advisor.
Joe Wittrock, CIO at Security Benefit Life, explains how the firm's investments outperform. Eldridge Industries, run by ex-Guggenheim president Todd Boehly, owns SBL, Billboard magazine (right, with Billie Eilish on the cover) and lots else.
'Digital has the potential to completely transform every stage of the wealth management journey, from how existing clients are advised and serviced to how prospective clients are identified and marketed to,' says PriceWaterhouseCooper in a new whitepaper.
Britain's unemployment rate was low in the run-up to its referendum on EU membership, and the UK needs its 2.1 million European workers, writes The Conference Board's senior economist for Europe.
"The Gift of Time" survey found that almost half (49%) of respondents were open to a non-traditional lifestyle that was unique to their interests, instead of taking a traditional sequence of school, work, marriage, parenthood and retirement).
When asked what stopped them from living a less conventional life, 46% blamed 'worries about money,' 33% said 'life events' got in the way, and 22% cited 'lack of a clear plan for how to go about it' or 'fear of failure,' according to Allianz Life's recent survey.
Buyback announcements by U.S. companies have totaled $291.7 billion this year, or 32% lower than the $432.0 billion in the same period last year.
Brief or late-breaking items from Pacific Life, Genworth, MetLife, LPL, BlackRock, Fidelity, Prudential (2) and Advicent.