New LIMRA research head Bryan Hodgens talks annuity and life sales with INN

LIMRA and LOMA saw some major changes in its research division last month, as Bryan Hodgens was promoted to senior vice president and head of research.

In the new role, Hodgens reports to Gina Birchall, chief operating officer, LIMRA and LOMA. He also oversees a large-scale life insurance and annuity research organization with 80 researchers.

The organization pumps out a plethora of industry data covering all aspects from the sales process to specific product sales rankings to consumers' wants and needs.

Hodgens recently joined John Hilton, senior editor for InsuranceNewsNet, for a discussion of the new role, new areas of research, how annuities and life insurance are selling in the marketplace, and many other topics.

"I look at it from just trying to provide more insights, deeper insights into our different products," Hodgens told INN. "How do we dig in deeper through the data that we collect, through the surveys that we do, in the industry just to expand in and give our members more knowledge about these areas?"

While life insurance premium remains flat, annuity sales are smashing records with each passing quarter. LIMRA compiles ongoing research of both products in its Fact Tank webpage.

Hodgens discussed the potential impact of a Fed rate cut next month, which Chairman Jerome Powell all but confirmed in an address Friday.

"I think it'll have some impact on those fixed annuity sales," Hodgens said. "You'll start to see a little pullback there. But over the last few years, there's still been a pretty decent premium or gap between fixed annuities and CDs and other, money market cash-type equivalent investments. You'll still see that."

Hodgens joined LIMRA and LOMA in 2022 to lead the life insurance, annuity and distribution research teams. In his new role, Hodgens is responsible for developing and executing the research strategy for LIMRA’s entire research program, ensuring the focus is on providing insights and best practices to address the emerging business challenges LIMRA and LOMA members face.

Hodgens touched on his career arc, working for three LIMRA members before joining the organization.

"I was on the on the other side of the table, using LIMRA research on a day-to-day basis helping me make those decisions," he told Hilton. "I've got this perspective of what the industry is looking at, the challenges that [executives] face every day."

Prior to joining LIMRA and LOMA, Hodgens was senior vice president and head of LPL Financials’ Retirement Plans and Financial Planning Group. In this role, he established and led the internal and external sales teams, driving double-digit growth during his tenure.

Earlier he served in executive positions for leading financial services companies for more than 20 years, including AIG, Wells Fargo Advisors and Asset Growth Partners.

© Entire contents copyright 2024 by InsuranceNewsNet.com Inc. All rights reserved. No part of this article may be reprinted without the expressed written consent from InsuranceNewsNet.com.

InsuranceNewsNet Senior Editor John Hilton has covered business and other beats in more than 20 years of daily journalism. John may be reached at [email protected]. Follow him on Twitter @INNJohnH.