Results for "variable annuities"

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Variable annuities asset leaders

February 21, 2010

Top 25 issuers by net assets, $ in billions, as of Sept. 30 Click column headers to sort fields Rank Issuer Assets, $ Share, % Change, %* 1 TIAA-CREF 342.02 26.08 -4.28 2 MetLife 100.08 7.63 7.39 3 Hartford 83.30 6.35 -10.17 4 Axa Equitable...

Nationwide to pay $2.1M in variable annuity settlement

February 4, 2010

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...

SunAmerica Retirement Markets looks to pump up interest in VAs

January 26, 2010

SunAmerica Retirement Markets Inc., the AIG subsidiary, has released two new variable annuity riders — and the company vows to compete with rival carriers to grab advisers' attention. This week, the insurer released its SunAmerica Income Plus...

California couple sues VALIC over its annuity sales practices

January 17, 2010

A California couple has filed suit against The Variable Annuity Life Insurance Co., an American International Group Inc. subsidiary, claiming that the company's sales agents misled investors about the tax advantages of using variable annuities...

Calif. couple sues VALIC over annuity sales practices

January 12, 2010

A California couple has filed suit against The Variable Annuity Life Insurance Co., an AIG Inc. subsidiary, claiming the company's sales agents misled investors about the tax advantages of using variable annuities in qualified retirement plans....

ING to sell stripped-down VA with stripped-down commission

January 10, 2010

ING plans to replace its traditional variable-annuity offering with a simplified product that comes with a scaled-back commission. The company will stop marketing its traditional variable annuity in March. At that time, it will release a new...

Slimmer variable annuities attract thin following

January 10, 2010

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. Pacific Life Insurance Co. released...

ING to sell stripped-down VA with stripped-down commission

January 5, 2010

ING plans to replace its traditional variable annuity offering with a simplified VA product that comes with a scaled-back commission. The company will stop marketing its traditional variable annuity in March. At that time, it will release a...

AIG trying to distance itself from its past

December 20, 2009

Hoping to overcome distributors' suspicions and gain traction in the variable-annuity market, embattled insurance carrier AIG next month will introduce two VA benefit riders from a subsidiary that took its tainted name off the stationery. But...

Life insurers seen getting back in black by year-end

December 1, 2009

Life insurers will be back in the black at the end of the year, reaping an estimated $16 billion in profits, according to new research from Conning Research and Consulting. That estimated profits reflect projected realized capital losses of...

As insurers gain in wealth management race, hurdles remain high

October 11, 2009

In the long battle to position themselves as wealth managers, life insurance companies still have to prove to financial advisers that they can do more than sell annuities. “There are a number of carriers that have done well in wealth management,...

Hartford CEO: Wealth management, retirement are key

October 4, 2009

“My assessment of The Hartford is that it has a strong insurance business, largely through its property/ casualty side, but it also has a wealth management and retirement business that's an important part of its future,” he said in an interview....

Axa exec replacing Casady as chairman of VA trade group

September 27, 2009

The Insured Retirement Institute last week chose James A. Shepherdson, executive vice president of Axa Equitable, as the group's chairman. IRI, the trade group of the variable annuity industry, announced his appointment at its 2009 annual conference...

Tax deferral benefits take center stage for VAs

September 27, 2009

The insurance industry predicts a new boom in variable annuities as tax deferral takes the spotlight in the near future, but financial advisers and broker-dealers aren't convinced that this will help products fly off the shelves again. “Historically,...

Hurdles ahead for VA industry

September 13, 2009

The variable annuity industry is slowly recovering from last year's lumps, but Cathy Weatherford, president and chief executive of the Insured Retirement Institute, an industry trade group, foresees a new set of hurdles ahead as carriers contend...

Widow files arbitration claim against Ameriprise over VA sale to elderly spouse

August 26, 2009

A widow yesterday filed an arbitration claim with the Financial Industry Regulatory Authority Inc. against Ameriprise Financial Services Inc., alleging that a broker there failed to properly advise her aged husband on a variable annuity purchase...

Variable annuities sales show signs of life

August 25, 2009

Variable annuities, whose sales and asset levels slumped during the market downturn, showed signs of a comeback in the second quarter, according to data from the Insured Retirement Institute. Total sales of variable annuities hit $31.8 billion...

Individual and variable annuity sales tumbled in 2Q, LIMRA reports

August 24, 2009

Total individual-annuity sales tumbled during the second quarter as carriers’ new business slowed and fixed-annuity interest rates fell, although sales for all fixed annuities fared better, according to data from LIMRA Individual-annuity sales...

Moody's: VA issues weigh on some insurers

August 9, 2009

Although improving financial markets have helped lift some life insurance carriers, the firms still have a ways to go before they recover fully, according to a report from Moody's Investors Service. The equity markets' rally since March has...

Finra fines Ameritas, broker over 'unsuitable' variable universal life policies

August 6, 2009

The Financial Industry Regulatory Authority Inc. has slapped Ameritas Investment Corp. with a fine after one of its brokers encouraged clients to buy unsuitable variable universal life insurance policies to help pay for college costs and retirement....

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