Athene Holding says a “first-of-its-kind” pension plan termination transaction with Bristol-Myers Squibb covers more than 24,000 active employee participants, retirees, beneficiaries, and former employees. Athene will administer annuity contracts that could total $3.8 billion in the deal.
Read moreState insurance commissioners are wrestling with whether to adopt a ‘best-interest’ standard, either explicitly or implied. What would the implications of that move be?
To approach annuities with an open mind, first take a look at the basic types and how they work.
Annuity sales continue to hit the highs, according to Wink’s Sales & Market Report.
To help quell client concerns over market volatility and its impact on retirement portfolios, Lincoln Financial Group today announced the introduction of Lincoln OptiBlend ® Plus fixed indexed annuity. “Lincoln OptiBlend ® Plus builds on the success we’ ve seen with our top-selling Lincoln OptiBlend 10 fixed indexed annuity, and provides customers with…
FRANKFORT, KY – November 16, 2018 – Investors Heritage Life Insurance Company (“Investors Heritage”) announced today that it has expanded…
Recent increases in annuity rates, coupled with incentives being offered by product manufacturers have translated to sales momentum, according to Wink’s Sales and Market Report.
Accenture has received two XCelent awards for its life insurance and annuity platform in a recent report from research and advisory firm Celent. Tom Scales, who leads Celent’ s life and health research across the Americas said,“ We had the opportunity to review a number of fine systems during our research. “We’ re honored to be recognized for our advanced technology…
Voya Financial, Inc., announced today its plans to achieve an adjusted operating earnings per share annual growth rate of at least 10% through 2021. Senior management will discuss further details about Voya’ s growth strategy at the company’ s 2018 investor day meeting beginning at approximately 1 p.m. ET today. “With our competitive advantages and renewed focus…
SAN FRANCISCO, Nov. 8, 2018 /PRNewswire/ — RetireOne® has teamed up with Great American Life Insurance Company® to offer the Index…
The E.W. Scripps, a broadcasting company, issued the following news release:. The E.W. Scripps Company has entered into an agreement with Massachusetts Mutual Life Insurance Company to purchase a group annuity contract and transfer approximately $50 million of the company’s pension plan obligations. Through the transaction, Scripps will reduce its pension…
WEST DES MOINES, Iowa, Nov. 06, 2018 (GLOBE NEWSWIRE) — The Strategic Design AnnuitySM X (SDA X), fixed index annuity…
–The Strategic Design Annuity SM X, fixed index annuity from North American Company for Life and Health Insurance ® is being introduced to offer the flexibility needed to help meet the challenges of retirement income planning. “SDA X is designed to be as dynamic as life itself,” said Rhonda Elming, North American’ s senior vice president of annuity product…
Kelsey-Seybold Clinic, a Houston- based multispecialty group practice, chose Prudential Retirement as record keeper for its retirement plans. Prudential Retirement is a business unit of Prudential Financial, Inc.. Kelsey-Seybold Clinic is the nation’ s first National Committee for Quality Assurance accredited Accountable Care Organization.
Symetra Financial, a financial services company, issued the following news release:. Symetra Life Insurance Company and RetireOne (TM) today announced the addition of SymetraAdvisory Edge and Symetra Advisory Income Edge fixed indexed annuities to the RetireOne (TM) platform. “We are partnering with Symetra to serveup innovative insurance solutions to…
The estimated annuity payment for Tuesday’s Mega Millions jackpot is $1.6 billion- an amount that lottery officials expect to grow before the winning numbers are drawn at 11 p.m. That’s more than one dollar for each person who lives in China, the world’s most populous country at 1.38 billion. Jackpot winnings for United States residents are taxed at 39.4…
The Minneapolis- based investment-management firm said its profits, after adjustments and an annual “unlocking” calculation, were $594 million, or $4.05 per share, compared to $525 million, or $3.38 per share, in the third quarter last year. In the third quarter each year Ameriprise does an “unlocking” calculation on the value of Ameriprise annuities and insurance…
Members hope to reach tentative agreement on an annuity sales rule it can take to its parent committee during the NAIC Fall Meeting Nov. 15 in San Francisco.
Phoenix, AZ, – The Fixed Annuity Consumer Choice Campaign (FACC) released its proposal to require stronger disclosures including a client…
Lansing, MI – Oct. 12, 2018 – Jackson National Life Insurance Company® today announced that Chief Executive Officer Barry Stowe…
LOUISVILLE, KY., Oct. 1 – DPL Financial Partners (“DPL”), the Commission-Free insurance network for registered investment advisors (“RIAs”), today announced…
International Paper will settle approximately $1.6 billion of its pension obligations by purchasing a group annuity contract from The Prudential Insurance Company of America, a subsidiary of Prudential Financial, Inc.. Scott Kaplan, Head of Pension Risk Transfer, Prudential. Last October, International Paper agreed to transfer approximately $1.3…
The Insured Retirement Institute issued the following news release:. In written testimony before the House of Representatives Committee on Financial Services, Subcommittee on Capital Markets, Securities, and Investment Dalia Blass, Director of the SEC’s Division of Investment Management, said the Division is considering a recommendation that the…
In a letter sent to NFL commissioner Roger Goodell, NFLPA executive director DeMaurice Smith and Hall of Fame president David Baker, and obtained by The Associated Press, 21 Hall of Fame members cited themselves as“ integral to the creation of the modern NFL, which in 2017 generated $14 billion in revenue.”. Among the signees were Dickerson, who is listed as chairman…
View the full release here: https://www.businesswire.com/news/home/20180905005565/en/ Insurance discounts can be a powerful incentive for Americans to maintain healthier lifestyles, according to a new Global Atlantic survey conducted by Echo Research. These are some of the findings of a Global Atlantic Financial Group national survey of 1,003 U.S….
A notable increase in surplus note issuances by the U.S. life/annuity segment between 2014-2017 drove an overall modest rise by insurance companies industrywide, as issuances by the other major sectors declined in two of those three years, according to a new A.M. Best report. From 2014 to 2017, the amount of surplus notes issued by insurance companies…
