'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.
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.
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.
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.
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.