Some 200 members of the Investments & Wealth Institute (IWI) came to Amelia Island, Florida, this week to learn about the principles underlying the Retirement Management Advisor designation, which IWI recently added to its existing lineup of designations.
'Nature wants us to pool longevity risk,' writes annuity expert Moshe Milevsky. He explains why in a new paper, 'Swimming with Sharks: Longevity, Volatility and the Value of Risk Pooling.'
'Most of the estimates from the literature substantially understate the effect of matching,' write analysts Nadia Karamcheva and Justin Falk of the Congressional Budget Office's Microeconomic Studies Division. (Image from 'The Matchmaker,' by Gerard van Honthorst.)
“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.