The Pension Research Council's Spring Symposium took place (virtually), which meant no semi-formal dinner with the sphinx at the University of Pennsylvania's museum. But the presentations of research papers were still well-worth hearing.
Eight financial giants formed the Retirement Income Consortium to promote income solutions in 401(k) plans and 'develop a vetted due diligence framework' for 'selection and monitoring' of those solutions.
Experts Tim Zawacki of S&P Global Market Intelligence, Rosemarie Mirabella of AM Best, and Jason Kehrberg of PolySystems presented data on “Private Equity and the Life Insurance Industry” at LIMRA's 2022 Life Insurance Conference in Tampa this week.
“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.
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.
New York Life’s Lifetime Income Annuity was the best-selling product for the second consecutive quarter.
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.)
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.
The 'A' Insurer Financial Strength (IFS) ratings on AIG's core property/casualty and life insurance subsidiaries was affirmed.
Brief or late-breaking items from New York Life, Phoenix Companies, Strategic Insight, BlackRock, DST Systems Inc., AXA Equitable Life, and Principal Financial.
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.