A $100 Billion Market for SPIAs?

Income annuities aren't a good product fit for every insurance company. But for New York Life, a mutual company with tons of reserves and a big book of life insurance, they make perfect sense.

Wells Fargo’s New Annuity Wagon

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.
Featured

Solving the SPIA compensation puzzle

By re-valuing each client's annuity contract each day, New York Life enables advisors to charge a fee based on the (shrinking) cost of replacing the income stream.

A Month of SPIAs

Starting with today’s issue, we’ll devote four weeks of cover stories and features to single premium immediate annuities. Millions of mass=affluent Americans will need them.
News

New MetLife GMIB Offers 6%

In 2010, MetLife sold about $18.3 billion worth of variable annuities, of which about two-thirds have the GMIB option.

Financial services M&A to accelerate in 2011: PwC US

Divestitures should drive a significant portion of deal activity in 2011, PwC said. Large banks and insurance companies that need to bolster capital levels are divesting non-core operations and margin-dilutive subsidiaries.

The Bucket

Brief or late-breaking items from DST Systems, Senior Market Sales, Conning Research, BNY Mellon, Mutual of Omaha, Mesirow Financial, ASPPA, Lockton Retirement Services, Huntington Investment Co., Allianz Global Investors and Putnam.