Kentucky state rep – and head of national group of legislators – introduces bill that would preserve right to resell benefits
Nationwide Life Insurance Co. has reached a $2.1 million settlement with five state insurance regulators over nine-year-old claims involving allegedly unsuitable variable annuity sales. The five states are California, Kansas, Minnesota, Missouri and Wisconsin.
Roger W. Crandall was named CEO of Massachusetts Mutual Life Insurance, effective Jan. 1, confirmed MassMutual spokesman Mark Cybulski.
Massachusetts Mutual Life Insurance Co. has taken alleged Ponzi schemer Scott Rothstein to court in an attempt to rescind a $15 million life insurance policy.
MassMutual on Wednesday announced that its field force has grown to more than 5,000 representatives, a record level for the 158-year-old insurer.
Despite the market's lukewarm reception to John Hancock's slimmed-down variable annuity, other insurers continue to introduce competing products aimed at financial advisers who have usually sidestepped such VAs.
ING plans to replace its traditional variable annuity offering with a simplified VA product that comes with a scaled-back commission.
Guggenheim Partners LLC, an investment firm founded by the famous family for which it is named, said last week that it is acquiring Security Benefit Corp. — and with it Rydex SGI.
The humble variable annuity is gaining in popularity
For most investors, not having access to their money is a drawback.
Nationwide Financial Services Inc. yesterday bumped up its variable annuity living benefits, signaling a return — for some carriers — to the generous benefits that backfired on insurers when the stock market imploded in 2008.
First-quarter fixed-annuity sales in the U.S. were down 52% from the year-ago period, falling to an estimated $16.7 billion.
A period of fierce competition to build annuity premiums awaits life insurers as they contend with industry consolidation and the difficulties of standing out from rivals
Hint: they think the retirement products attract customers who are frightened by the market
Life insurers, whose capital buffers shrank during 2008's downturn, emerged from 2009 with a rebound in capital. The reasons? Regulatory changes and a climbing equities market, according to Moody's
Polls show that employees want an annuity option in their pension plan menu. But they also prefer a lump sum to an income stream when they hit retirement age
Combining a variable annuity with a guaranteed-minimum-withdrawal benefit in conjunction with a traditional portfolio can help hike income
Insurer's new boss said the Connecticut company will avoid focusing on any one product after VAs contributed mightily to two straight years of losses
Sales of both variable annuities and fixed annuities fell in 2009, according to the latest data from LIMRA.
