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Ameriprise, Lincoln have strong VA hedging programs: Moody’s
Ameriprise Financial Inc. counts on controlled distribution and Lincoln National Corp. 'goes Greek' to hedge variable annuities.
Fixed and indexed annuity sales crept upward during 2Q
Sales of indexed annuities surged to $8.4 billion, growing 18% from the first quarter. Meanwhile, income annuities climbed 30% to $2.3 billion during the same period.
Agent in church insurance flap: Parishioners were told to lie to Aviva
Aviva Life & Annuity Co. this month amended its lawsuit against six insurance agents in an alleged charity-owned life insurance scheme, claiming that the parishioners of a Los Angeles church were coached to lie to the insurer about the source of premiums for their coverage
MetLife says 30 jurisdictions are auditing unpaid benefits
State regulators are intensifying a probe into unpaid benefits after Florida Insurance Commissioner Kevin McCarty said in May that insurers may be keeping at least $1 billion in unclaimed funds.
Quest for yield fuels interest in risky investment vehicle
Yield-starved investors and their advisers are discovering a complex investment vehicle: annuities awarded in wrongful-death or injury lawsuits that are being sold as factored structured settlements
Variable annuities selling at fever pitch
Investors, attracted by the allure of guarantees, gobbled up variable annuities during the second quarter, placing some insurers on pace to beat estimates and bringing broker-dealers closer to pre-crisis VA sales levels
Jackson National Life Insurance is No. 1 in adviser satisfaction
Financial advisers are stuck on Jackson National Life Insurance Co.'s variable annuities
When talking to clients about annuities, think about demographics, says Allianz exec
Advisers hoping to broach the topic of annuities with clients ought to step back from product features and focus on the greater context of longevity protection.
Boomers ignorant about Medicare
Most baby boomers, even those past retirement age, say that they don't know much about Medicare, the federal…
Vanguard throws very big hat into small-pension-plan ring
Index giant looks to break insurers' domination of bundled-plan space; 'last bastion' for carriers
Challenges are ahead for variable annuity sales: Cerulli
Carriers think VAs are an attractive area for growth, but the product line faces some hurdles that may dampen sales.
Raymond James in court over $1.7M arbitration settlement over suitability
Not-so-binding arbitration? Two months after Raymond James Financial Services Inc. was ordered to pay $1.7 million as a result of an arbitration decision over suitability, the broker-dealer and the client are arguing in court.
Looking under the stable-value fund hood
Galliard Capital Management Inc.'s stable-value funds, designed to preserve principal in tumultuous times, drew more than four times the usual inflows in August as market volatility increased, said managing partner John Caswell
MetLife leads VA sales as top firms gain share
MetLife Inc., the largest U.S. life insurer, regained the top spot in variable-annuity sales in the first half of the year, leading a group of five firms expanding their dominance in the industry.
Judge upholds ex-agent’s misrepresentation claims in Allstate suit
A federal judge agreed with a 28-year veteran agent that he was muscled out of his book of business by The Allstate Corp.
Irene’s cost: Insurers face estimated $2.6B tab
Hurricane Irene's estimated cost to insurers fell to about $2.6 billion in the U.S. as the storm lost strength en route to New York.
Ex-Allstate agent sues for $15M, alleges he was forced out
Veteran insurance agent Paul A. Mattus has filed suit against The Allstate Corp., claiming that the carrier muscled him out of his book of business and passed it on to a newer, younger agent
Merger pace slow for life insurers in 2010
U.S. life insurers had a fairly small appetite for mergers and acquisitions last year, with much of the activity encompassed in AIG's shedding of its foreign life insurance subsidiaries
Subs of European insurers could be torpedoed by crisis on the continent
U.S. units of Aviva, Allianz placed on review with negative implications due to parents' EU exposure
SEC: Aon bribed prospective clients over 24-year period
Insurer agrees to settle charges it violated the FCPA; carrier allegedly netted $11.4M from $3.6M in payments
