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Families who plan have options when it matters most.
The plan is to sell 19.9% of the life/retirement business, either through an initial public offering, commonly called an IPO, or a private sale. It “will not consider” selling more than that, said Zaffino, who will become CEO on March 1, 2021, and remain president of AIG.
Lincoln Financial expects “to bottom out” during the fourth quarter, CEO Dennis Glass said of life and annuity sales, and the company is preparing to roar back in 2021 with eight new products lined up. Glass spoke today during a conference call with analysts to review third-quarter earnings.
Prudential Financial is discontinuing all sales of variable annuities with guaranteed living benefits, eliminating its Highest Daily Income and Prudential Defined Income annuity products. The move is needed as the insurer recalibrates amid economic uncertainty and ultra-low interest rates, CEO Charlie Lowry said.
So, the SECURE Act took away the stretch IRA. But here’s Tom Duncan of Nationwide with three opportunities for advisors that he revealed at the National Association for Fixed Annuities’ annual Annuity Distribution Summit this week.
The company’s executive management team, with assistance from independent financial and legal advisors and oversight from the AIG board, “conducted a comprehensive review of the company’s current composite structure, including strategic, operational, capital and tax implications,” the company said in a news release.
Analysts are eager to see the bottom lines as many insurers are starting to show cracks in the economic foundation — in the form of significant employee layoffs. Globe Life was one of the first life insurance companies to report third-quarter data today.
Like many aspects of the insurance industry, mergers-and-acquisitions activity is not at all where analysts expected coming into 2020 — thank COVID-19 for that. But M&A will return robustly, analysts predict. In fact, it will help shape how the industry recovers from the pandemic and reinvents itself.
The plaintiffs claim they were misled about the costs of an IUL policy and how it works. The case has broad implications for the industry and the controversial Actuarial Guideline 49 put forth by the National Association of Insurance Commissioners, an industry attorney said.
PARK RIDGE, Ill. (Oct. 16, 2020) — In the midst of a global pandemic and economic crisis, MDRT has made
Advisors are spending less time meeting with clients face to face, but advisors also are helping clients with COVID-19 concerns,
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