Guardian Weathers the Storm
Guardian Life VP Douglas Dubitsky talks about the mutual insurer's variable annuity sales growth and how guaranteed income can “free an advisor to be an advisor again.”
MetLife’s VA Sales are Missed
Total annuity sales are down for the quarter and the first nine months of the year, according to LIMRA. If not for MetLife’s pull-back, variable annuity sales would be close to last year’s pace.
Traitor VIX
Volatility is the most treacherous risk for VA issuers, and complex hedging strategies are the answer. That’s the view from the Equity-Based Insurance Guarantees conference in Chicago this week.
SEC: VA closures, buybacks send wrong message
The director of the SEC Division of Investment Management said VA issuers seem to be telling investors, ‘Here is the deal we are offering you, unless we find out later that we miscalculated.’
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VA sales likely to end 2012 down 8%: Morningstar
But Prudential, Jackson National, TIAA-CREF, Lincoln Financial, SunAmerica/VALIC, and AXA Equitable all sold slightly more VAs in the first three quarters of 2012 than in the same period in 2011.
News
Lithuania struggles to finance its public pensions
The current level of contributions to the 'second-pillar' is 1.5% of salary, and it should increase to 2.5% in 2013. The new laws will reduce contributions to 2% of salary in 2014, but allow participants to add 1% of their after-tax salary income.
Rising Treasury prices are worrisome: BMO Private Bank
The difference in yield between two-year and 10-year U.S. Treasury notes has been shrinking, BMO says. Recessions are associated with zero difference between the two.
What affluent business owners are thinking: Merrill Lynch survey
Only 39% of business owners worked on a succession plan with a management consultant, personal financial advisor, or commercial banker, and only 33% have worked on a retirement plan.
Public pensions in Puerto Rico face possible insolvency
The main fund, which serves about 250,000 government workers, current and retired, is only 6% funded and could run out of money as soon as 2014. Another fund, for about 80,000 teachers, is 20% funded.
Guardian identifies four investing “personalities”
Guardian has identified four different retirement styles or personalities: The Connector, The Analyst, The Seeker and The Adventurer.
DTCC issues 3Q 2012 annuity report
Compared to Q2 2012, inflows in the third quarter were down $4.4 billion and out flows were down $6.7 billion, resulting in an increase in net cash flows of 39 percent, or $2.2 billion.
The Tax Deferral on Savings: Endangered or Not?
Although the 401(k) industry is gearing up to defend its tax-favored status, it’s not clear that the White House or Congress is determined to take it away.
