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ING wins fixed-annuity deal as Allstate narrows focus
ING U.S. Inc. will begin selling fixed annuities through Allstate Corp. agencies as the largest publicly traded U.S. auto and home insurer ceases to offer its own brand of the retirement products.
Fixed-annuity sales driven by frustration with low interest rates, thirst for income
Fixed-annuity sales in the third quarter reached their highest level since 2009, topping $22 billion. That number represents a 31% rise from the previous quarter and more than a 35% increase from the same period last year.
Variable annuity sellers clamp down on payments to existing contracts
Two of the largest variable annuity sellers sharply pulled back on additional premiums into existing contracts during a busy third quarter for the sellers.
Third quarter lifts insurers' VA businesses
The markets have been kind to investors in variable annuities during the third quarter — which means they've been even more generous to the insurers that have sold the products in the first place.
Jackson exempts certain advisers from VA exchange suspension
Jackson National Life Insurance Co.'s temporary halt on tax-free exchanges of variable annuities is in effect until Dec. 16 — but it turns out not everyone is subject to the suspension.
MassMutual 401(k) suit takes litigation into new territory
A recent lawsuit against MassMutual over excessive 401(k) fees raises the possibility that group annuities and stable-value products could become a focus of future complaints.
Stability rules as managed-volatility funds gain record assets
Assets top $200 billion, up from $31 billion in 2006, as insurers lead the charge.
Lincoln National: Variable annuity sales are up, and there's still room to grow
Lincoln National's variable annuity deposits hit $3.4 billion at the life insurer during the third quarter, reflecting a 56% increase from the year-ago period, but execs want to shift more to contracts without living benefits.
Under new structure, fewer MetLife advisers pushed to produce more
Restructuring puts two MetLife B-Ds under one roof, ups pressure to sell proprietary products.
Demand forces Jackson National to halt VA exchanges temporarily
Seven-week block applies only to products with guaranteed living benefits, not fixed and indexed annuities.
Gurus: Bull market alive and well
Despite turmoil in Washington and skepticism over the Affordable Care Act, two industry heavyweights remain bullish about equities and the economy. “Forecasting the market is pretty basic — just watch the correlation to corporate-earnings growth and the S&P 500,” Douglas Coté, the chief investment
Allianz Life to launch indexed annuity for B-Ds, wirehouses
Allianz Life Insurance Co. of North America is making a bigger push to get registered reps interested in indexed annuities as the carrier launches a line of products for broker-dealers and wirehouses. It plans to launch its Core Income 7 indexed annuity Oct. 14. The product features a built-in
Penn Mutual lays off team of wholesalers and relationship managers
The Penn Mutual Life Insurance Co., a burgeoning player in the variable annuity space, recently let go of a team of wholesalers and relationship managers. The carrier, which ended 2012 with just under $1 billion in sales, laid off seven regional directors and two relationship managers on its
Gundlach to oversee $450M in annuities push
Jeffrey Gundlach, manager of the top-performing DoubleLine Total Return Bond Fund, is expanding to variable annuities by subadvising a fund modeled after his flagship for Prudential PLC's Jackson National Life Insurance Co.
VA changes puzzle advisers
Although variable annuities were helpful to the most nervous clients during the financial crisis, financial advisers admit that insurers still have room for improvement when it comes to this product line.
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