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.)
Private equity firms have steadily acquired U.S. life insurers and blocks of fixed annuity business and moved the blocks offshore to free up capital. This worries some people.
Micruity, a tech startup with a 30-year-old CEO, says it has the "middleware" that can integrate 401(k) plans and annuity issuers. Will the retirement industry listen?
Wells Fargo Asset Management's new target-date series of CITs comes with a built-in, optional retirement income strategy: systematic withdrawals plus an annuity starting at age 85.
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.
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