Nationwide Mutual Insurance issued the following news:. After a nearly four-decade transformative career at Nationwide, Eric Henderson, president of Nationwide's annuity business, has shared plans to retire at the end of the year. "Throughout his career, Eric has displayed tremendous resiliency and courage to successfully manage risk and lead teams through…
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Strategic philanthropy: A look at charitable lead annuity trusts
The CLAT provides a structured framework to craft a narrative of purposeful philanthropy.
TAMPA, Fla.— Sunday morning, Powerball announced that the estimated $1.33 billion jackpot had been won by a lucky ticketholder in Oregon. The cash value option "is the amount of money required to be in the jackpot prize pool, on the day of the drawing, to fund the estimated jackpot annuity prize," according to the Powerball website. Unlike the state of Florida, Oregon…
Industry fears impending DOL action will target pension transfer market
There is concern in the life insurance industry that a forthcoming Department of Labor report could target group annuity contracts by pension plans in pension risk transfer transactions.
New product: Guardian Life moves to crack the RILA market
Guardian Life Insurance Co. is taking its shot at one of the hottest annuity segments in the market with its first registered indexed-linked annuity offering.
—Lottery players nationwide have the chance at nearly $2 billion as the Mega Millions and Powerball jackpots continue to roll. Meanwhile, without a winner in Monday's drawing, the Powerball jackpot has reached an estimated $865 million. That makes it the fifth-largest in Powerball history behind a $1.08 billion jackpot won in California last year.
Reinsurance Group of America, Incorporated, a leading global life and health reinsurer, today announced it has reached an agreement with Japan Post Insurance Company for an RGA affiliate to reinsure an approximately 700 billion JPY in-force block of individual life annuities through coinsurance. “This transaction marks a significant milestone in the…
Regulators consider guideline to best-interest rule to address ‘deficiencies’
State insurance regulators plan to issue guidance on its best-interest annuity sales model after reviews turned up “deficiencies” in producer monitoring.
Allianz Life launches accumulation annuity
Allianz Life announced that its newest accumulation-focused product, Allianz Accumulation Advantage+ Annuity, is now available.
Athene takes over as annuity sales leader with 72% growth in 2023
Athene Annuity and Life stormed to the top of the annuity sales charts with a 72% year-over-year growth in 2023 sales, LIMRA reported today.
Annuity sales set more records in Q4, break $100B, Wink reports
Total fourth quarter sales of deferred annuities were $105.4 billion, Wink, Inc. reports, up 32.9% when compared to the same period last year.
California Gov. Newsom signs best-interest annuity sales bill
California Gov. Gavin Newsom gave industry trade groups a big win Thursday by signing a best-interest annuity sales bill into law.
Armed with Ebix life/annuity assets, Zinnia expands its market presence
With private equity backing and fresh life and annuity assets, Zinnia is making its move in the market, CEO Michele Trogni said.
Orion, DPL team up to bring commission-free annuities to advisors
DPL Financial Partners and Orion Advisor Solutions today announced an expanded partnership to build upon the firms’ existing integration and provide fee-based financial advisors on the Orion Advisor Technology platform with direct access to DPL’ s commission-free annuity marketplace, Product Discovery Tools, and team of licensed insurance…
Will lower interest rates cut into fixed deferred annuity sales?
Expected Fed rate cuts might may shift interest away from fixed-rate deferred annuities, according to industry experts.
The Decumulation Paradox: Why many retirees underspend
Despite saving for their golden years, many retirees – even affluent ones – tend to underspend. This is termed the “decumulation paradox.”
—CHICAGO— CNA Financial Corp. on Monday reported fourth-quarter net income of $367 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share. This story was generated by Automated Insights using data from Zacks Investment Research.
‘Annuity King’ Phillip Roy Wasserman sentenced to prison for $6.3M fraud
A Tampa, Fla. judge sentenced Phillip Roy Wasserman to a lengthy prison term Wednesday for overseeing a fraud that cost retirees millions.
Study examines hesitancy around buying an annuity
Study asks: If buying annuities is a good option for many retirees, why aren’t more people purchasing them?
American Pathway Advisory is a fixed annuity that brings enhanced flexibility to the MYGA space through innovative renewal options.
