Results for "annuities"

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Variable annuity sales plunged 30% in 4Q

March 19, 2009

Sales of variable annuities fell in the fourth quarter as premium flows hit $33.3 billion, according to data from NAVA Inc. That’s down 30.3% from the comparable period in 2007. Fourth-quarter net sales of variable annuities, which exclude...

Fixed-annuities sales rose 60% in 2008

March 6, 2009

Sales of fixed annuities climbed to $107 billion last year, up 60% from 2007, according to the Beacon Research Fixed Annuity Premium Study. Fourth-quarter fixed-annuities sales hit a six-year record for the third-consecutive quarter, rising...

NAVA marketing conference notebook

March 1, 2009

Panelists addressed myriad issues at the annual marketing conference held in New York by NAVA Inc., the Reston, Va.-based variable annuity trade association. RATINGS CONCERNS During one session, Doug Meyer, managing director of U.S. life operations...

Finra's VA suitability rule still sticks in B-Ds' craw

March 1, 2009

Fears of increased paperwork and disclosures related to Finra's variable annuity suitability rule have been realized, with many firms reporting that they are still overburdened by hair-splitting requirements. Last May, the New York- and Washington-based...

Advisers want more-understanding wholesalers

February 25, 2009

Financial advisers, already overwhelmed with frazzled clients, want more understanding from their wholesalers, said panelists at the NAVA Inc. marketing conference this week. “Wholesalers need to know us and work with us the way we work with...

Eric R. Dinallo

February 22, 2009

As this year's returning chairman of the NAIC's Life Insurance and Annuities (A) Committee, Eric R. Dinallo's priorities are making sure that consumers are protected while helping carriers steer a course through choppy economic waters. This...

Despite problems, advisers are upbeat about VAs

February 22, 2009

Advisers may complain about variable annuities, but most still endorse the product. According to an InvestmentNews online survey conducted Jan. 29 to Feb. 17, more than 68% of 1,851 advisers polled said they were currently recommending VAs to...

Low rates, market volatility increase VA costs

February 22, 2009

Investors' concerns about negative market returns are likely to create a greater demand for guaranteed products such as variable annuities, but the downturn in the markets has changed the insurers' cost of managing the hedging risk of VAs. To...

Indie B-Ds cast wary eye on insurers

February 22, 2009

Seeking to assess the strength of the insurance carriers they do business with, many smaller independent broker-dealers — flummoxed by the insurers' opaque balance sheets and arcane accounting practices — are relying on a time-tested tool:...

Spendthrift trusts are said to be gaining attention

February 8, 2009

Client interest in establishing spendthrift trusts for beneficiaries is picking up steam, partly due to the fact that wealthy clients are becoming more risk-averse, according to financial advisers. Spendthrift trusts are put in place when the...

NAIC vetoes reserve relief for VA carriers

February 1, 2009

A National Association of Insurance Commissioners executive group last Thursday vetoed a proposal from the insurance industry to loosen required capital and surplus levels. Members of Kansas City, Mo.-based NAIC met via a conference call to...

SEC sued to overturn index annuity regulation

January 16, 2009

A coalition of equity index annuity insurers and marketers today sued the Securities and Exchange Commission to overturn the index annuity regulation approved by the SEC in December. The suit was filed by American Equity Investment Life Insurance...

Plans' lack of target date savvy presents opportunity

November 30, 2008

Many plan sponsors aren't focused on the investment strategies behind target date funds, creating an opportunity for financial advisers to play a greater role in the retirement-planning process, according to a survey by JPMorgan Asset Management...

Warning lights flash for Michigan advisers

November 23, 2008

As representatives from the American auto industry plead for a multibillion-dollar federal bailout, some financial advisers are already bracing for worst-case scenarios that could leave thousands of autoworkers, retirees and those working in...

Index annuities likely to become securities

November 13, 2008

A proposal to regulate equity index annuities as securities is likely to be approved by the Securities and Exchange Commission, an insurance regulator said today. “I see this as moving through the SEC at some level,” Wisconsin Insurance Commissioner...

Carrier failures could make B-Ds liable

November 9, 2008

Broker-dealers, registered representatives and advisers could be on the hook if they sell products from major carriers whose risk-based capital is crumbling, plaintiff's attorneys say. Last month, insurance juggernauts Prudential Financial Inc....

Annuities: Good news and bad news

November 9, 2008

Insurance companies and distributors face major changes for risk management and product development as variable annuities and their guarantees pressure insurers' risk-based capital, industry experts said. The bloodletting in the stock market...

Agents: SEC oversight not needed for EIAs

November 9, 2008

Insurance agents are blasting a controversial Securities and Exchange Commission proposal to classify equity index annuities as securities. Under pressure from both the insurance industry and some members of Congress, the SEC last month reopened...

New LTC products are

November 2, 2008

Innovative long term care insurance products are on the horizon as the industry seeks to appeal to more clients. Market participants realize that offering hybrid products and new forms of coverage would help expand the market to people who don't...

SEC to hear more on index annuity regulation

October 13, 2008

The Securities and Exchange Commission has reopened the comment period for its proposed rule on federal regulation of index annuities. The Washington-based regulator made the announcement on Friday, giving the public thirty days from the publication...

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