The equities market crash in 2020 showed how Americans jumped when they should have stayed in their investments – which variable annuity investors did.
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Long term, SRI expects the total annuity market to benefit from improving economic conditions, shifts in demographic, as well as technology implementations.
Equitable Holdings, Inc. announced Tuesday that it has successfully closed its transaction to reinsure legacy variable annuity policies sold between 2006 and 2008 with Venerable Holdings.
Instead of settling issues, the latest Department of Labor guidance hints at an ERISA overhaul, Bradford Campbell says during Faegre Drinker’s latest Inside the Beltway webinar.
A Macomb County man recently had his most exciting Michigan Lottery win ever. The 48- year-old man, who chose to remain anonymous, recently won $4 million on an Ultimate Millions instant ticket, according to the Michigan Lottery. More: Livingston County mans wins $1 million on Michigan Lottery instant ticket.
Waltham, MA, May 25, 2021 – Delaware Life Insurance Company has launched an innovative new variable annuity with riders that…
May 24— The largest Mega Millions jackpot to be won in Pennsylvania was sold in Bucks County for the Friday drawing, according to the Pennsylvania Lottery. The lottery office said a 7- Eleven in Levittown sold the $516 million winning ticket for the May 12 drawing, with winning numbers 6-9-17-18-48 and Mega Ball 8.. “The Pennsylvania Lottery congratulates the big…
HENDERSONVILLE, N.C.– If Thursday had been a typical morning for Charles Browne, of Hendersonville, he wouldn't have ended up on a 500- mile round trip to Raleigh to collect a $1 million lottery prize. Browne typically begins his day with a stop at Norm's Minit Mart on Kanuga Road in Hendersonville where he gets a Red Bull and his favorite lottery ticket.
The Department of Labor is likely to scrutinize sales contests and other incentives under the investment advice rule.
CHICAGO/PRNewswire/ — Bankers Life announced its new Guaranteed Lifetime Income Annuity Plus with Enhanced Benefit (GLIA Plus). The new product…
May 19— A Fayetteville woman won $100,000 in the Powerball jackpot challenge after buying a $3 Power Play ticket, according to the N.C. Education Lottery. Naren Som purchased her ticket from the Walmart on Lillington Highway in Spring Lake and matched four of the white balls and the Powerball in Wednesday's drawing, a news release said. The odds of matching four…
People who complained to the Insurance Division or the Iowa Attorney General said they couldn’t get through to Transamerica, an investment, retirement and life insurance company, to check on their investments, make transfers or seek payouts after the death of a loved one.
Rumors are rampant that the Biden administration plans to rework exemptions within the Trump administration’s investment advice rule to closer resemble the Obama-era fiduciary rule.
May 13— A Charlotte woman hit a $1 million jackpot on a scratch-off ticket her husband bought her as a Mother's Day gift, North Carolina lottery officials said Wednesday. “My husband came home Sunday afternoon and said,' I got you another Mother's Day gift,'” Catherine Trew told lottery officials when claiming her prize at lottery headquarters in Raleigh on Tuesday,…
In this role, Yates will partner with AmeriLife’s data science and data engineering teams to develop, launch and manage new enterprise analytic products to support distribution channels. Yates began his position with AmeriLife on April 12. “As AmeriLife stakes its claim as an industry leader, measuring and evaluating key analytics is a major priority that…
Brighthouse continues to broaden distribution and grow life insurance sales, CEO Eric Steigerwalt said on a conference call with analysts this morning.
In the first quarter 2021, total annuity sales were $60.9 billion, a 9% increase from first quarter 2020, according to preliminary results from the Secure Retirement Institute.
May 10— WATERLOO— Some lucky someone is holding a Powerball ticket to a $2 million prize in Saturday's drawing. The ticket initially matched the first five numbers but missed the Powerball to win a $1 million prize. Saturday's winning numbers were: 12-17-20-21-26 and Powerball 8.
_ Brighthouse Financial Inc. on Monday reported a first-quarter loss of $585 million, after reporting a profit in the same period a year earlier. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.42 per share. Brighthouse Financial shares have risen 35% since the beginning of the year.
F&G, part of the FNF family of companies and a leading provider of annuities and life insurance, announced that the company has surpassed $1 billion in sales in the financial institutions channel, less than one year after launching.
Many people look forward to retirement and all the enjoyment it can bring after having worked so hard for decades. But from a distance, whether a few years or many years away from retirement, it's not easy to clearly see what retirement will look like. It's a bit misty because, after all, there is a lot of uncertainty about the future, and how much money someone will need…
NEW YORK–(BUSINESS WIRE)–J.P. Morgan has partnered with Nationwide to launch a new investment product that combines tailored-portfolio features with tax-efficient…
Speaking during a quarterly earnings call, American Equity CEO Anant Bhalla pledges a strong push for fixed index annuities for the rest of 2021.
Strong sales of its buffered annuity, FlexGuard, helped Prudential continue its first-quarter shift away from interest rate-sensitive products and underpinned its strong financial showing.
_ American Equity Investment Life Holding Co. on Wednesday reported first-quarter earnings of $282.7 million. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share. Three analysts surveyed by Zacks expected $491.1 million.
American Financial is trying to figure out what to do with the billions it will have in excess cash after the sale of the Great American Life Insurance Co. in the second quarter.
Total fourth quarter sales for all deferred annuities were $56.3 billion, an increase of nearly 4% when compared to the previous quarter and an increase of nearly 6% when compared to the same period last year.
April was Financial Literacy Month, and why you likely saw articles with financial-planning recommendations, such as set goals, track spending, boost savings and understand concepts like “diversification” and “compound interest.” Some articles may even have suggested you can “become a millionaire” by the time you reach Social Security age, if you follow the…
This decision could be appealed to the New York Court of Appeals, which is the state’s highest court. Additionally, the state may request a stay on the Appellate Division’s decision pending an appeal to the state Appeals Court.
_ Ameriprise Financial Services Inc. on Monday reported first-quarter earnings of $437 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $4.73 per share. This story was generated by Automated Insights using data from Zacks Investment Research.
One Clover couple appears to have both. According to the North Carolina Education Lottery, Clover residents Gloria Walls and Gary Daniel recently won a $1 million top prize in the Jumbo Bucks scratch-off game. The $1 million win came on a $10 ticket bought at the Harris Teeter on Robinwood Road in Gastonia, N.C. The couple recently claimed their prize at lottery…
CHARLOTTE, N.C.– Shane Hypio, of Charlotte, bought a 50 X the Cash ticket that revealed a $1 million top prize, according to an NC Education Lottery news release. Hypio bought his winning $10 ticket from the Quick Trip on Monroe Road in Matthews. Hypio had the choice of taking the $1 million as an annuity of 20 payments of $50,000 a year or a lump sum of $600,000.
The recent runaway success of registered index-linked annuities, also known as buffered or structured annuities, has inspired insurance companies to consider extending the model to other products.
Backed by three of the world’ s largest banks, the Luma platform simplifies complex financial instruments such as structured products and annuities, as well as streamlines what has historically been a manual investment process. By partnering with CANNEX, Luma customers will receive product data and modeling support across all annuity types including fixed…
The Department of Labor’s newest guidance on its investment advice rule’s exemption emphasizes that the rule does not extend a private right to sue and other conditions that rankled the industry with the Obama administration’s fiduciary rule.
RANDOLPH COUNTY, N.C.– Angelene Dingman, of Randleman, won a $1 million top prize from a $30 Millionaire Maker ticket, according to an NC Education Lottery news release. Dingman bought her winning ticket from the Ready Mart on North Main Street in Randleman. She had the option of taking the $1 million as an annuity of $50,000 a year over 20 years or a lump sum of $600,000.
Apr. 12— A McLeansville man struck it rich when he won a $4 million top prize on a lottery ticket, the NC Education Lottery said in a news release. Willie Crosby purchased a $4,000,000 Gold Rush ticket from Quick One Stop on N.C. 66 South in Kernersville, according to the release. The $4,000,000 Gold Rush game launched in August with three top prizes of $4 million and six…
FAYETTEVILLE, N.C.– Rose Pinkney, of Fayetteville, found herself the latest winner of a $1 million Colossal Cash prize, according to an NC Education Lottery news release. She bought her winning $30 ticket from the Speedway on Yadkin Road in Fayetteville. She had the choice of taking her prize as an annuity of $50,000 a year for 20 years or as a lump sum of $600,000.
The Virginia-based insurance giant said Tuesday it has terminated its merger agreement with China Oceanwide Holdings Group Co. Ltd., a Beijing-based company that agreed in October 2016 to buy Genworth for about $2.7 billion, or $5.43 per share in cash.
A new survey conducted by Capital Group, home of American Funds, and one of the world’s leading investment management firms, finds that investors of all ages may lack the confidence, knowledge and resources needed to be confidence in their retirement.
Tabetha Church, of Cleveland, bought a $10 scratch-off and won a $1 million prize, according to an NC Education Lottery news release.
The Peak 65 Generation— Creating A New Retirement Security Framework, an economic report released today and authored by Jason Fichtner, a senior lecturer at Johns Hopkins University’s Paul H. Nitze School of Advanced International Studies, finds that the fundamental problem is that the three-legged stool, which once served as a model for retirement income…
WEST DES MOINES, Iowa — Athene USA announced the launch of Athene AccuMax, a fixed indexed annuity that provides enhanced…
Allstate has agreed to a transaction in which Wilton Re will pay $220 million to acquire Allstate Life Insurance Company of New York. The transaction is expected to close in the second half of 2021, subject to regulatory approval and other closing conditions.
Furman Alexander Ford, 51, worked as an adviser for New York Life between 2012 and 2015. His major client, identified as “E.J.,” had inherited property worth $1.3 million, which Ford helped to sell and use the money to set up a charitable annuity.
The financial industry is fixated on boomers and their kids, the millennials, but the generation in between has the numbers and the dollars to warrant rapt attention, says Chip Roame of Tiburon Strategic Advisors.
An Acton, Mass. man was sentenced to prison in connection with a long-running scheme to steal money from clients of his investment advisor business, in which he fraudulently obtained more than $3.8 million from more than 20 clients.
Without the grace period, annuity agents and advisors in Virginia must be in compliance on May 1, which does not give enough time to get ready, IRI says.
Integrity Marketing Group today announced it is acquiring Brokers International in a blockbuster merger of industry giants.
NEW YORK, March 22, 2021 — AIG Life & Retirement, a division of American International Group, and a leading provider…
Jasmine Jirele was named president and CEO of Allianz Life Insurance Company of North America this week. She spoke with InsuranceNewsNet about the company’s plans in the annuity space, where Allianz is a market leader is registered index-linked and fixed index annuity sales.
American Council of Life Insurers President and CEO Susan Neely and National Association of Insurance and Financial Advisors Idaho President Guy Stubbs issued the following joint statement on the best interest annuity law signed recently by Idaho Governor Brad Little:. Brad Little and championed by Insurance Department Director Dean Cameron enhances…
–NexPoint Securities, Inc., a registered broker-dealer that serves as the distributor for investment products on the NexPoint platform, announced today the appointment of Brian Graime as director of annuity and insurance marketing organization distribution. For its initial expansion into insurance, NexPoint Securities will be working with insurance…
Travis Archible was “pressed for time” when he decided to try his luck on the Millionaire Maker game, the N.C. Education Lottery said Tuesday in a news release. The first was Willard Weber, who scored his lucky ticket months after splitting another jackpot with a coworker, McClatchy News reported. “His first payment was $35,384 after taxes, according to the N.C….
Allianz Life Insurance Company of North America announced today that Jasmine Jirele has been named president and CEO of Allianz Life, succeeding President and CEO Walter White, who will retire December 31, 2021. “Jasmine brings a compelling combination of strategic vision, deep customer and industry insight, and digital transformation that will help…
There could be plenty more changes in store before the investment advice rule is finally in place, said Brad Campbell, a partner at Faegre Drinker Biddle & Reath, during a Thursday webinar sponsored by the National Association for Fixed Annuities.
Each ticket matched four of the five white balls drawn— 17, 18, 37, 44 and 53— and the red Powerball, 18, to win $150,000, less applicable withholdings. Convenient Food Mart, 401 Wyoming Ave., Scranton, and a Pittsburgh retailer each sold one winning ticket and will receive $500 each. The Powerball jackpot rolled to an estimated annuity value of $169 million, or $116.1…
Lincoln Financial Group today announced that it has appointed John Kennedy as executive vice president and president of Lincoln Financial Distributors. John Kennedy, executive vice president and president of Lincoln Financial Distributors. His previous positions include senior vice president for AXA Distributors and various senior sales and…
U.S. annuity sales totaled $219 billion in 2020, 9% lower than sales in 2019, according to results from the Secure Retirement Institute U.S. Individual Annuity Sales Survey. But in the fourth quarter, annuity sales rebounded to pre-pandemic levels.
RALEIGH, N.C.– A Halifax County man's luck has not yet run out as he has won $1 million on a North Carolina lottery scratch-off for the second time in less than a year. Back in August 2020, Weber and his coworker, Dean Glover of Littleton, split a $4 million Ruby Red 7 s top prize. Last week, he stopped at the Information Grocery on U.S. 158 in Halifax and tried his luck on a new…
