The Alt-Asset Teams that Reinvent Annuity Companies
'Insurance Solutions' groups use private assets to boost the returns of life/annuity company investment portfolios. RIJ talks with Todd Fonner of Investcorp Insurance Solutions about this trend.
John Hancock transfers VA risks to Venerable
Venerable Holding will reinsure $22 billion worth of in-force variable annuity contracts issued by John Hancock Life. The deal releases $2 billion in capital for Manulife, which will put $1.3 billion into a comfort trust to back the liabilities.
De Santo to lead New York Life
Craig De Santo is and will remain president of New York LIfe when he becomes CEO next April. Ted Mathas, CEO for the past 14 years, will serve as chairman of the board during a transition period.
Annuity sales dip 9% in 3Q2021 from prior quarter
Sales of all annuities in the US were $62.3 billion in the third quarter of 2021, down 9% from the previous quarter but up 12% from 3Q2020. Sales of registered index-linked annuities (structured variable annuities) continue their sharp rise.
Breaking News
Annuities Genius to use Cannex data for annuity comparison tool; Envestnet advisers can now access SIMON’s structured products lineup; Cost of transferring defined benefit pension risk falls slightly: Milliman; Lincoln updates ‘Level Advantage’ RILA and authorizes stock repurchase up to $1.5 billion; More than one in five Americans own an annuity: F&G survey.
COVER STORIES YOU MAY HAVE MISSED
November 11, 2021
One Life Insurer’s Pivot to Private Assets
American Equity Investment Life’s ‘AEL 2.0’ strategy is designed to help it thrive even in a low yield environment. Allocating up to 40% of its money to ‘private assets’ is key to the fixed...
November 4, 2021
NAIC Eyes ‘Bermuda Triangle’ Strategy
A document from the NAIC's Financial Stability Task Force reflects the concerns that the NAIC has heard from a variety of sources about the increased ownership of life insurers by private equity firms. (Image...
October 28, 2021
Charting the Bitcoin Universe (and other New Research)
This Research Roundup offers a map of the world of cryptocurrency trading, a look at 'Participating Longevity-Linked Annuities,' an investing strategy for low-yield times from David Blanchett, and answers to the 'annuity puzzle.' ...
