A Fixed Index Annuity with a Dash of Risk
The Momentum Growth contract from Delaware Life introduces a bit of gambling to the FIA product category—but within guardrails, and only with what contract owners might call 'house money.'
F-H-L-B Spells Cheap Cash for Big Annuity Issuers
The largest borrower from the Federal Home Loan Bank (FHLB) system in 2024 was Athene Annuity and Life, at more than $15 billion. For at least 16 other top annuity issuers, FHLB loans are a key source of "fungible," low-cost borrowed capital.
RIJ and ChatGPT Discuss ‘Funding Short’
Life insurers used to be known as champions of 'asset-liability matching,' or ALM. Today, many of them are doing the opposite by 'funding short.' Here's a transcript of RIJ's recent conversation with ChatGPT about the risks and rewards of funding short, and its role in today's annuity business.
Featured
‘Buckets of Money’ advisor Ray Lucia Sr. charged by SEC
“The so-called backtests weren’t really backtests, and the strategy wasn’t proven as they claimed,” said the director of the SEC’s Los Angeles office.
The IRI Conference, Annuities and the American Way
Vote for Obama and you’ll get more ‘government in your knickers,’ keynote speaker Haley Barbour told 300 or so IRI meeting attendees in San Diego this week.
News
‘Near-record’ sales for indexed and income annuities in 2Q: Beacon
New York Life’s Lifetime Income Annuity was the best-selling product for the second consecutive quarter.
U.S. spends $3.4 trillion in 11 months
Federal outlays through August totaled $3.4 trillion, up 2% from the same period last year. Receipts in the first 11 months totaled $2.2 trillion, up $126 billion from the same period last year. (Federal fiscal year ends Sept. 30, 2012.)
Treasury expects $2.7 billion from AIG stock offering : AIG
After the completion of this offering and a $5 billion share purchase by AIG, Treasury will own about 15.9% percent of AIG’s common stock outstanding.
Fitch upgrades select AIG ratings following government sale
The 'A' Insurer Financial Strength (IFS) ratings on AIG's core property/casualty and life insurance subsidiaries was affirmed.
The Bucket
Brief or late-breaking items from New York Life, Phoenix Companies, Strategic Insight, BlackRock, DST Systems Inc., AXA Equitable Life, and Principal Financial.
Fed pledges action until economy shows gains
The Fed also acknowledged its limits. “Monetary policy, particularly in the current circumstances, cannot cure all economic ills,” the Fed chairman, Ben S. Bernanke, said at a news conference.
