Pacific Life Insurance Company announced the close of a $35 million Pacific Secured Buy-In® transaction. As of the transaction date,…
Read moreNew fee-based annuities, bringing products to market faster, and more transparency in how agents are paid are just some of the main developments in play within the annuity sales industry, a consultant says.
Brighthouse Financial, the newest major life and annuity distributor in the U.S., moved quickly to expand its product line in time for its spinoff from MetLife earlier this month.
How do commission-based annuity sales compare with fee transactions? Our Kim O’Brien takes a side-by-side look and the results may surprise you.
New fee-based annuities, bringing products to market faster, and more transparency in how agents are paid are just some of the main developments in play within the annuity sales industry, a consultant says.
Brighthouse Financial, the newest major life and annuity distributor in the U.S., moved quickly to expand its product line in time for its spinoff from MetLife earlier this month.
The company has made a commitment to invest more than $100 M of venture capital in customer-centric solutions that help members:. In addition to these efforts, Nationwide launched Nationwide Ventures in early 2016 to invest in startup companies that are transforming the insurance and financial services industry. Nationwide Ventures has made six…
How do commission-based annuity sales compare with fee transactions? Our Kim O’Brien takes a side-by-side look and the results may surprise you.
CHARLOTTE, NC, August 14, 2017 – Brighthouse Financial (Nasdaq: BHF), a major provider of annuity and life insurance solutions in…
Jackson National is latest life insurance company to report strong second-quarter earnings. The company sold $17 billion worth of variable annuities last year even as the variable annuity market continued to shrink.
CNO Financial Group’s fixed indexed annuity with a lifetime income rider has squarely hit its mark with middle-market consumers. The product helped CNO deliver better-than-expected results in the second quarter.
Allianz SE posted a strong second quarter due to spiking sales of capital-efficient products such as variable annuities without income guarantees, hybrid variable annuities and fixed indexed annuities, company executives said.
_ American Equity Investment Life Holding Co. on Wednesday reported second-quarter profit of $26.9 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share. Three analysts surveyed by Zacks expected $484.8 million.
RICHMOND- Genworth Financial Inc. said Tuesday that it has extended the deadline for its planned acquisition by a China- based company by three months to Nov. 30, as the proposed deal remains under regulatory review by the U.S. government. Henrico County- based Genworth, an insurance company with thousands of employees in Virginia, announced in October that it had…
_ Genworth Financial Inc. on Tuesday reported second-quarter profit of $202 million. On a per-share basis, the Richmond, Virginia- based company said it had net income of 40 cents. Keywords: Genworth Financial, Earnings Report.
Opponents of the controversial Department of Labor fiduciary rule will take another shot Monday at persuading a court to overturn the regulation. This time, the Fifth Circuit Court of Appeals will hear the case.
Top Department of Labor official joins the National Association of Insurance Commissioners to discuss collaboration on the future of the fiduciary rule. Better data from the insurance industry is needed, DOL deputy secretary says.
A look at how fixed annuities stack up against bond mutual funds.
Commentary As you read this, most of you are aware that the Comment Period on delaying the DOL Rule was…
Symetra Life Insurance Company, a leading fixed annuity provider, has introduced two new fixed indexed annuities built for fee-based planning— Symetra Advisory Edge and Symetra Advisory Income Edge. “The addition of Advisory Edge and Advisory Income Edge to Symetra’ s broad suite of fixed indexed annuity products offers advisors greater choice and aligns…
A pilot, Direct-to-Consumer annuity offering by Nationwide is generating plenty of useful data about consumer habits and their needs to speak to live advisors.
A deadline to comment on the controversial Department of Labor fiduciary rule expires at midnight Friday.
Nationwide becomes the latest company to offer its first fee-based fixed indexed annuity. The new products are being developed in response to the Department of Labor fiduciary rule.
Newport Beach, CA – Pacific Life Insurance Company has just launched Pacific Index FoundationSM, a fixed indexed annuity that replaces…
What licenses do you need to sell various financial products in a Department of Labor fiduciary rule world? Our Kim O’Brien discusses the various licenses and dismisses some incorrect information.
The proposed acquisition of Henrico County- based Genworth Financial Inc. by a China- based company is facing a regulatory delay that is likely to push the deal past its planned completion date. Genworth, an insurance company with thousands of employees in Virginia, announced in October that it had agreed to be acquired for about $2.7 billion by China Oceanwide,…
The Social Security and Medicare trust funds will not be able to pay all debts inside of 20 years unless Congress acts, an annual report by the Treasury Department predicted. It means that by 2034, the program will have enough revenue to cover only 77 percent of promised Social Security and Medicare benefits. In the period from 2018-2027, Social Security will…
New annuity research tool by Beacon Annuity Solutions will help advisors demonstrate that their recommendations are in the best interest of clients, a company executive says.
As part of its review of the Obama administration’s fiduciary rule, Department of Labor regulators are expected to consider returning fixed indexed annuities to a less-stringent exemption.
The Department of Labor is prepared to help advisors survive under the new fiduciary rules by possibly carving out new exemptions and amending existing ones, according to documents published Thursday. Is it the lifeline the industry seeks?
The Impartial Conduct Standards in the Department of Labor fiduciary rules have caused some confusion. Our Kim O’Brien is here to sort it all out.
Any thoughts that new Labor Secretary Alexander Acosta would decline to defend the controversial fiduciary rule went out the window with a brief filed Monday in the Fifth Circuit Court of Appeals.
The Department of Labor announced two new comment periods Friday — 15 and 30 days — on different aspect of its controversial fiduciary rule. Will the rule go fully into effect?
Two new indexed variable annuity products will help Allianz Life Insurance post record sales and deal effectively with the new regulations in the Department of Labor fiduciary rule, company execs say.
Chicago-based Bankers Life is recasting a narrowly-focused captive insurance distribution approach into a holistic advisory one. It is developing a higher-caliber advisor force in the process, execs say.
The Department of Labor fiduciary rule has not had a major impact on annuity sales yet, say execs with a top Midwest insurer. The second phase of the rule, which takes effect Jan. 1, 2018, will likely be a different story, they add.
IMOs and FMOs should be fine to sell variable and fixed indexed annuities under the transition Best Interest Contract for the rest of the year, a pair of experts say. But a definitive word is unknown.
New fixed-indexed annuity products with shorter seven-year surrender periods are driving down commissions, new data shows. First-quarter indexed annuity commissions dropped to 4.96 percent from 5.37 percent a year ago.
Financial planners say pressure from taxes and regulation are making them less likely to recommend life and annuity products. Can these products adapt and thrive beyond 2017?
The shorter surrender periods and no surrender charges are the result of annuity companies offering fee-based financial advisors new options that coincide with the dawn of the Department of Labor’s fiduciary rule.
The Department of Labor fiduciary rule begins taking effect at 11:59 tonight. That means acting as a fiduciary, making no misleading statements and accepting only “reasonable compensation.”
The Tennessee Department of Commerce and Insurance issued the following news:. The Tennessee Department of Commerce& Insurance announces disciplinary actions against Tennessee licensees in Memphis and Covington for several violations including acts of fraud, forgery and misrepresentation of material facts and using incorrect, misleading, incomplete…
Firms large and small make their final moves to get into compliance with the Department of Labor fiduciary rule, which begins taking effect at 11:59 p.m. Friday. What comes next?
Ohio National adds creative rider to new fixed-indexed annuity product. Does it signify future direction of FIA products? How will the impending fiduciary rules affect sales?
The ‘duty of care’ is just one of the fiduciary duties required by the DOL Rule, which takes effect Friday. Our Kim O’Brien explains how the duty of care impacts the financial advice advisors give.
WASHINGTON, D.C. – The Insured Retirement Institute (IRI) today announced final first-quarter sales results for the U.S. annuity industry, based…
CINCINNATI – For individuals who are currently at or nearing retirement age and looking for a way to increase their…
Fifty-two percent of lump sum recipients say their budget would be more predictable if they’d chosen annuity payments from an employer pension or defined contribution plan, a new survey finds.
About 13,000 Voya Financial policyholders agreed to surrender variable annuity contracts in the company’s latest offer. The company will be looking for further opportunities to reduce its risk exposure, execs say.
Variable annuities are under pressure from Department of Labor regulations that begin taking effect next week. That hasn’t stopped insurers from offering new and creative death benefits. Will the moves save VAs?
A rundown of the top sellers of multiyear guaranteed annuities in the first quarter.
Here is a rundown of the the top 10 fixed annuity sellers and where they finished in the first quarter.
A new NAIFA certification aimed at life and annuity agents to be unveiled next week has major potential to help agents penetrate Asian developing markets, analysts say.
Despite a first-quarter drop in fixed indexed annuity sales, there was still plenty of jockeying for position among product sellers for top-10 recognition.
Pleasant Hill, Iowa. May 24, 2017- Wink’s Sales & Market Report expanded in 2015 for all non-variable deferred annuities which…
First quarter 2017 sales of fixed indexed annuities (FIAs) dropped 14 percent to $12.9 billion compared with the year-ago period, according to Wink’s Market & Sales Report.
An important shift away from annuities with guaranteed living benefits (GLBs) signals that advisors are focused on accumulation and away from income, a least for the time being, a market expert said.
Sales of fixed indexed annuities (FIAs) are expected to be hit the hardest as new regulations and uncertainty among distributors will dampen new sales of individual annuities in 2017. LIMRA’s forecast is for sales of all U.S. individual annuities to drop between 5 percent and 10 percent in 2017.
MINNEAPOLIS – May 23, 2016 – Allianz Life Insurance Company of North America (Allianz Life®) today announced the launch of…
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