AIG preparing to say goodbye to life and retirement segment for good
American International Group is down to a 52% ownership stake in Corebridge Financial, its separated life and retirement division.
Regulators look to tighten the reins on reinsurance deals
Support is growing among some state insurance regulators to tighten the rules for life insurers entering into reinsurance agreements.
Army counselor accused of defrauding Gold Star families faces an April trial
An Army Reserve major who served as a financial counselor with the Army’s Casualty Assistance office and who has been accused of defrauding two dozen Gold Star families will go to trial in April.
Brighthouse reports strong product news to offset poor Q4 results
Brighthouse Financial executives reported strong product developments and solid sales today, but the insurer’s Q4 financial numbers were not as rosy.
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.”
Gen Z setting the tone for a new standard of benefits engagement
Gen Z employees are more likely to expect a tailored, year-round benefits experience than other employees, according to a recent study.
As retirement exodus looms, rookie advisor failure rate at 72%, study finds
As 109,093 advisors plan to retire, the rookie-failure rate hovers around 72%, according to “The Cerulli Report—U.S. Advisor Metrics 2023.”
Allstate has strong Q4, reports net income of $1.5B
Allstate reported 2023 Q4 adjusted net income in the of $1.5 billion on revenues of $14.8 billion, up 8.7% from the same period in 2022.
Athene dominates annuity sales, but Apollo execs have even bigger plans
Apollo Global Management executives talked about the potential for a lot more from Athene today during a conference call with Wall Street Analysts on Apollo’s successful fourth-quarter earnings report.
Lincoln Financial sees Q4 net loss of $1.2B
Lincoln Financial Group reported a net Q4 loss of $1.2 billion and a loss of $835 million for the full year of 2023.
Equitable Holdings cites momentum, resilience in face of economic headwinds
Equitable Holdings, Inc. cited resilience in the face of strong headwinds, and steady growth in its 2023 Q4 and full-year financial results.
Prudential reports turnaround, $2.48B net income for 2023
Prudential Financial Inc. Wednesday announced a significant turnaround in 2023, with net income reaching $2.48 billion,
Brookfield touts future ability to reel in $15-$20B annually from insurance
Brookfield Asset Management executives are making big plans for the insurance assets it will control when its acquisition of American Equity closes soon.
Senate bill would block SEC rule to regulate technology in financial services
A pair of Republican senators say a proposed rule to better regulate the use of artificial intelligence in financial services will end up stifling innovation instead.
KKR fuels up with Q4 cash off big Global Atlantic annuity sales
KKR reported big fourth quarter earnings, thanks in large part to its insurance holding, Global Atlantic.
Rates on the move as Fed vows to slash interest rates
The Federal Reserve left interest rates unchanged during its most recent meeting, but annuity sellers are preparing for the cuts to come by adjusting rates.
Cigna asks court to toss lawsuit accusing it of improperly rejecting claims
Cigna filed a motion Thursday to dismiss a class-action lawsuit accusing the insurer of improperly rejecting medical claims.
‘Annuity King’ prepares appeal from conviction, 15-year prison sentence
Phillip Roy Wasserman is expected to file an appeal today from his fraud conviction and 15-year prison sentence.
Seniors, retirees will benefit from AI advances, experts say
According to tech and financial experts, seniors will greatly benefit from AI, without ever needing to know it’s working for them.
