Rejecting a takeover bid by Athene and MassMutual, fixed index annuity issuer American Equity will partner with Brookfield Asset Management. The deal releases up to $350m in capital for American Equity, and makes it a 'Bermuda Triangle' player. Photo: AEL headquarters in Des Moines.
Nationwide, the 10th-largest annuity issuer in the US and a provider of about 34,500 retirement plans, is launching a cluster of in-plan annuities. RIJ talks with Eric Stevenson, president of Nationwide Retirement Plans since mid-2019.
SEC to air October 26 public hearing on ‘Reg BI’; Plan participants want lifetime income options: Lincoln Financial; Pandemic creates anxiety about Social Security: Wells Fargo; Empower marks year of extraordinary growth; Financial Times announces top 401 retirement plan advisers of 2020.
A Senior Financial Sector Expert at the International Monetary Fund asks why longevity risk swaps aren't as popular as longevity risk buy-outs (or buy-ins) with institutional investors. This post appeared first on the Pension Research Council website.
AIG annuity product developers had to comply with New York requirements: No explicit fee for the income rider and no notional 'benefit base' for use in calculating annual payouts, which are 5.15% at age 65. The payout rate goes up 0.15% for every year income is deferred after purchase.