By establishing a standard for valuing in-force income annuities, an industry task force hopes to reduce fear of "annuicide" and stimulate SPIA sales. "We're taking a thorn out of the lion's paw," says Gary Baker of Cannex. (Links to pdfs of task force documents included.)
We summarize four recent papers: 'Portfolios for Long-Term Investors,' 'What is the Value of Annuities?,' 'Public Economics and Inequality: Uncovering Our Social Nature,' and 'Financial and Total Wealth Inequality with Low Interest Rates.'
How will variable annuity contract owners use their income benefits? That question is vital to annuity issuers and to fiduciary advisers with clients who own VAs. This Texas Dep't of Insurance actuary knows a product that can help them find out.
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.
In the first quarter of 2012, DTCC's Insurance & Retirement Services division processed 12 million annuity transactions involving almost 3,000 different products worth over $38 billion for 106 insurance companies and 111 broker/dealers.
Our guest columnist saw a news report that said 10% of the 3.9 million people who work on Wall Street are "clinical psychopaths." He set out to discover the provenance of that report.
The term “income annuities” doesn’t hold the same negative connotations as “annuities” for older investors, according to a new research report from Hingham, Mass.-based consulting firm Hearts & Wallets.
Portfolio managers at Allianz GlobaI Investors expect the renminbi (RMB) to become a fully convertible currency by 2020, but China will "have to liberalize its interest markets .”
For financial institutions, Basel III creates a tradeoff between declining ROE, which might reduce their ability to attract capital, versus stronger capitalization and lower risk premiums, which benefits investors, says Fitch Ratings.
“No other lifetime income product is as strategically-positioned to thrive in this low-interest rate environment" as an indexed annuity, said AnnuitySpecs.com president and CEO Sheryl Moore.
See the detail on financial planning software including vendors, scopes, costs, and contacts.