FGH Parent, L.P.,, a leading global reinsurance company, today announced the signing and closing of a $4 billion reinsurance transaction between its subsidiary, Fortitude International Reinsurance Company Ltd. and Taiyo Life Insurance Company, a wholly owned subsidiary of T&D Holdings, Inc. “We are honored that Taiyo Life continues to place their trust in us and…
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Lincoln Financial, a leading provider of insurance, annuities, group benefits and retirement solutions, announces its expansion into the rapidly growing private markets industry, partnering with Bain Capital, a leading global private investment firm, and Partners Group, one of the largest firms in the global private markets industry, to launch two new…
The Life Insurance Consumer Advocacy Center (LICAC) has filed a lawsuit against the California Department of Insurance (CDI) for violations…
The American Council of Life Insurers released a report that highlights how private insurance products can save billions in federal spending by reducing dependence on Social Security and Medicaid. For Social Security retirement income, delaying benefits–often enabled by life insurance and annuities–yields a net present value savings of $11 billion…
Guaranty Income Life Insurance Company, a leading provider of fixed indexed annuities, unveiled an enhanced gilico.com website to better serve its customers and financial professionals in the years ahead. “We are making it as easy as possible for people to access helpful financial tools and educational resources,” said Joe Wieser, President of Guaranty…
Updated: Equitable, Allianz move into top 5 in final LIMRA 2024 annuity sales list
For the first time ever, total quarterly annuity sales surpassed $100 billion in all four quarters of the year.
AM Best is projecting modest growth in capital& surplus of approximately $48 billion for the U.S. life/annuity insurance industry over the combined 2024-2025 period, according to a new Best’ s Market Segment Report. The segment’ s net income in 2025 is projected to exceed pre-pandemic levels and reach an estimated $51.1 billion in 2025, up from $37.9 billion…
New research from the American Council of Life Insurers finds that benefits from annuities enable retirees to postpone receiving Social Security payments, saving the program $100 billion over time as the greatest surge of baby boomers retire.
Venerable Holdings, Inc., is pleased to share the successful transfer of a legacy block of novated variable annuity contracts from Equitable Financial Life Insurance Company to the Venerable administrative platform. Venerable is a privately held company with business operations based in West Chester, Pennsylvania, Des Moines, Iowa and New York, NY.
Zinnia, a leading life and annuity insurance technology company, announced today the appointment of Gary D. Cohn as Vice Chair and board member. “With the demand for retirement solutions growing, Zinnia’ s platform offers advisors, insurers and consumers a modern and intuitive experience, simplifying the integration of L&A products seamlessly into wealth…
illumifin and the Alzheimer’s Association together announce the appointment of Peter Goldstein to its Board of Directors. Goldstein is a distinguished leader with over three decades of industry acumen spanning the long-term care, life, annuity and health insurance markets. Since 2022, he also served as a board member of the California Southland Chapter of…
State Street Global Advisors, the asset management business of State Street Corporation, today announced that its IncomeWise™ Target Retirement Strategies will be made available on the Voya Financial recordkeeping platform, marking a major milestone in the expansion of the solution’ s availability across the industry. This achievement aligns with State…
Growth in sales, client assets: Sales from MassMutual’ s domestic insurance operations grew to more than $41 billion as the company maintained its position as a top provider of whole life insurance, as well as sustained its growing market leadership in annuities. In addition, increased demand for personalized planning helped the company’ s wealth management…
Ensight, the leading sales enablement platform for annuity, life and long-term care insurance carriers and distributors, has announced a strategic platform integration partnership with Luma Financial Technologies, a global provider of structured products and insurance solutions. “Luma and Ensight are at the very forefront of transforming the annuity,…
Judge sides with SEC in allowing disputed witnesses in Cutter case
A Massachusetts judge will allow the Securities and Exchange Commission to call five disputed witnesses in an upcoming trial over annuity sales by advisor Jeffrey Cutter.
Wink reports a 4Q dip in annuity sales to close a record-breaking 2024
Total 2024 annuity sales raced to another record, according to Wink’s Sales & Market Report, even if the industry did close the year on a down note.
Net loss 1 of $1 M, and adjusted operating income 1,2 of $15 M in the fourth quarter Enact reported adjusted operating income of $137 M 1 in the fourth quarter; distributed $84 M in capital returns to Genworth Completed annual assumption updates with unfavorable impacts to adjusted operating income in LTC and Life and Annuities of $52 M U.S. life insurance…
Somerset Re has a strong history of successful deal execution over its last decade building a well-diversified book across the life and annuity space. A new business flow partnership for Fixed Index Annuities with a major U.S. insurer An inforce Corporate-Owned Life Insurance and Bank-Owned Life Insurance transaction with a U.S. life& annuity insurer A…
Net loss 1 of $1 M, and adjusted operating income 1,2 of $15 M in the fourth quarter Enact reported adjusted operating income of $137 M 1 in the fourth quarter; distributed $84 M in capital returns to Genworth Completed annual assumption updates with unfavorable impacts to adjusted operating income in LTC and Life and Annuities of $52 M U.S. life insurance…
Nationwide’s updates to the L.inc+ suite include raising the equity exposure on Nationwide Lifetime Income Rider+ Core (L.inc+ Core) and increasing fund access through the Custom Choice program.
