Fixed indexed annuity sales shook off a lackluster to start to the year to finish 2010 with some much-needed momentum, according to Beacon Research’s latest “Fixed Annuity Premium Study” released this week. Total annual indexed annuity sales surged 6% this year to a lot more than $31.4 billion while income annuity sales improved 2% to [...]
SCOR Sells United States Fixed Annuity Business
French reinsurer SCOR Group announced that it is “disposing of its US Fixed Annuity business through the sale of its subsidiary Investors Insurance Corporation (IIC) for $55 million.” The entire share capital of IIC will be acquired by Athene Holding Ltd. IIC is a Life insurer operating in the US, which specializes in the sale [...]
Allianz CEO, Gary Bhojwani, Advocates Consumer Suitability Officer
Gary Bhojwani, Allianz CEO, advocates consumer suitability. What’s a chief suitability officer? Allianz CEO Gary Bhojwani says his new CSO will advocate for consumer A new acronym entered corporate-speak when Allianz Life Insurance Company of North America appointed its first—and probably the first, anywhere—CSO, or chief suitability officer. The creation of the new job “underlines [...]
Genworth bows out of variable annuity business
The insurer said on Wednesday it will cease sales of retail and group variable annuities, and will also suspend sales of its linked benefit product — a combination annuity product with long-term care features. Current contract holders won’t be affected by the change. “With this decision, we have taken an additional step in advancing our [...]
Allianz Life Global Ratings A.M. Best
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit ratings of “aa” of Allianz Global Corporate & Specialty North America (AGCS NA), which includes Allianz Global Risk US Insurance Company, Allianz Underwriters Insurance Company, both based in Burbank, Calif. and AGCS Marine Insurance Company, which is based in Chicago. The outlook for [...]
The Best Variable Annuities
The Best Variable Annuities By Melissa Gannon Sales of variable annuities in 2008 were down 15.1% from their peak in 2007, according to the Association for Insured Retirement Solutions, a variable annuity trade association. Total sales declined to $154.8 billion from $182.2 billion the year earlier. Despite the decline—most pronounced with the year-over-year fourth quarter decrease [...]
Annuity Specs Report on 3rd Quarter Fixed Index Annuity Sales
Author: Sheryl Moore Editor, Annuity Specs A combination of equity market volatility and slumping interest rates pushed sales of fixed indexed annuities in the third quarter to a new high, according to data from LIMRA and AnnuitySpecs.com. Sales of fixed indexed annuities hit a record-breaking $8.7 billion, a 16% increase from the year-earlier period. Allianz [...]
Prudential Names Bruce Ferris Head of Sales/Strategic Account Management
NEWARK, N.J. — Prudential Annuities, the domestic annuity business for Prudential Financial, Inc. (NYSE:PRU), today announced a new leadership structure that will strengthen key alignments across the business and combine related parts of the business by segment. The new structure, announced by Stephen Pelletier, who was appointed president of Prudential Annuities in September, aligns Sales [...]
James Belardi: Executive Profile & Biography
December 23, 2010 3:06 AM ETINSURANCE EXECUTIVE PROFILE James Belardi Chief Executive Officer and Chairman of the Board, Athene Holding Ltd. 1515 Age Total Annual Compensation This person is connected to 4 Board Members in 4 different organizations across 5 different industries. See Board Relationships 53 – BACKGROUND James R. Belardi serves as the Chairman [...]
Chip Anderson Of Creative Marketing Joins NAFAs Board
Chip Anderson Selected to Join NAFA’s Board of Directors Chip Anderson of Creative Marketing Corporation has been selected to join the Board of Directors for The National Association for Fixed Annuities (NAFA). Anderson’s three-year term officially began at NAFA’s annual membership meeting on Oct. 28 in Houston, TX. Leawood, KS (PRWEB) December 20, 2010 Chip [...]
