Meet the Newest Platform in the 401(k) Annuity Space
'We’re a product design firm,' ALEXIncome co-founder E. Graham Clark told RIJ. 'We feel we’ve built the best process for integrating annuities into retirement accounts.'
NAIC Urged to Limit ‘Bermuda Triangle’ Strategy
'The ability of insurers to significantly lower the total asset requirement for long-duration blocks of business that rely heavily on asset returns appears to be one of the drivers of the significant increase in reinsurance transactions,” wrote a New Jersey and an Iowa insurance regulator. 'A stunning development,' said one federal official.
Of Athene, Pension Risk Transfers, and Fiduciaries
The ERISA Advisory Council recently heard comments on changing the criteria that fiduciaries use when vetting annuity providers in pension risk transfer deals. Athene's vice chairman defended his company's practices.
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‘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
NAIC Urged to Limit ‘Bermuda Triangle’ Strategy
'The ability of insurers to significantly lower the total asset requirement for long-duration blocks of business that rely heavily on asset returns appears to be one of the drivers of the significant increase in reinsurance transactions,” wrote a New Jersey and an Iowa insurance regulator. 'A stunning development,' said one federal official.
Of Athene, Pension Risk Transfers, and Fiduciaries
The ERISA Advisory Council recently heard comments on changing the criteria that fiduciaries use when vetting annuity providers in pension risk transfer deals. Athene's vice chairman defended his company's practices.
‘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.
