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Archive for May 2012

Annuities fell in 1Q; indexed up

{May 31st, 2012} by Darla Mercado

By Darla Mercado May 27, 2012 Annuity sales took a dive during the first quarter, but sales of fixed indexed annuities jumped, thanks in large part to guaranteed-lifetime- withdrawal-benefit riders. Annuity sales fell to $54.8 billion in the quarter, down 8% from a year earlier, according to data from LIMRA International. Variable and fixed annuities […]

Time to promote BrokerCheck

{May 31st, 2012} by N/A

May 27, 2012 NOW THAT FINRA HAS TAKEN the wraps off a new and improved version of its BrokerCheck database, it is time for the regulator to get serious about making sure that investors are aware of this valuable resource and that the information found in the database is accurate and up-to-date. The Financial Industry […]

Choli rollers: Aviva to settle charges in alleged church insurance scam

{May 25th, 2012} by Darla Mercado

Insurer originally sought $2.1 million in case involving 131 parishioners; only two defendants left By Darla Mercado May 25, 2012 Aviva Life & Annuity Co. is settling charges against a group of insurance agents who allegedly sold coverage to some 131 church members under false pretenses. The settlement notice, filed May 10 in the U.S. […]

LIMRA: Life Combination Products Continue to Grow

{May 24th, 2012} by Michael K. Stanley

The popularity of life combination products has proven not to be just a trend. The amalgamated products grew 56 percent in 2011, representing a third consecutive year of double-digit growth. The findings published by LIMRA, Windsor Conn., in their 2011 Individual Life Combination Products Annual Review stated that total new premium for life combination products […]

AnnuitySpecs.com Reports 13% Rise in Fixed Indexed Annuities Sales

{May 24th, 2012} by Warren S. Hersch

By Warren S. Hersch May 22, 2012 • Sales of fixed indexed annuities rose 13% in the first quarter of 2012, according to a new report. AnnuitySpecs.com, a unit of Moore Market Intelligence, published this finding in the site’s 59th edition of Indexed Sales & Market Report, which provides sales by product, company, crediting method, […]

IRI’s Weatherford: Want More Clients? Go Holistic.

{May 24th, 2012} by Cathy Weatherford

By Cathy Weatherford May 22, 2012 • The Insured Retirement Institute (IRI) joined with other financial industry, education and advocacy organizations last month to lead National Retirement Planning Week, a national effort to increase awareness of the need for comprehensive retirement planning. Throughout the week, we were able to bring together thought leaders from the […]

Morningstar Launches New Variable Annuity Review Tool

{May 24th, 2012} by Maria Wood

By Maria Wood May 21, 2012 • Morningstar, Inc. has launched a new web-based tool that allows financial professionals to easily research and evaluate variable annuity contracts. Live today, the Morningstar Annuity Intelligence describes features in a variable annuity in simplified terms, says Kevin Loffredi, vice president, annuity solutions, software division, of Chicago-based Morningstar. “The […]

Why Indexed Annuities Keep Charging Ahead

{May 24th, 2012} by Linda Koco

By Linda Koco AnnuityNews In the first quarter, indexed annuities topped the charts in sales growth among all annuity lines as compared to first quarter 2011. The sales volume still did not surpass that of more traditional annuity products, such as variable annuities and fixed deferred annuities, but in terms of sales growth, the products […]

Ratings upgrade a real benefit to Security Benefit, says insurer's boss

{May 24th, 2012} by Darla Mercado

Kiley says A rating will boost distribution of annuities; carrier’s premiums already on the rise By Darla Mercado May 23, 2012 Now that Security Benefit Life Insurance Co.’s ratings have been bumped into the A range, chief executive Michael Kiley hopes to get more banks and broker-dealers selling the insurer’s annuities. This month, Standard and […]

Women Should Evaluate Life Insurance Needs

{May 22nd, 2012} by Daniel R. Taylor

By Taylor, Daniel R Proquest LLC When it comes to safeguarding a family’s financial future, there is a troubling gap between men and women. According to a survey commissioned by COUNTRY Financial, about four in 10 women say their family would not live comfortably if they died. Additionally, around 80 percent of all married couples […]

LIMRA: Annuity Sales Fall 8% in 1Q, Despite IAs' Rise

{May 22nd, 2012} by N/A

WINDSOR, Conn. May 18, 2012—Total annuity sales declined eight percent in the first quarter compared to the first quarter of 2011, to reach $54.8 billion. Variable annuity sales, which largely sustained overall sales the past eight quarters, experienced a seven percent drop in the first quarter, totaling $36.8 billion. “As we noted last quarter, we […]

ING’s Tope: ‘We’ve Always Had a Very Strong Indexed Annuity Business.’

{May 22nd, 2012} by Maria Wood

Q&A with ING’s Chad Tope By Maria Wood May 18, 2012 • Much has changed in the annuity world in recent months. Several carriers have exited the variable annuity business, while new channels of distribution have opened up for indexed annuities. Shadowing all these shifts is a tenacious low interest rate environment that has forced […]

Acting Aviva PLC CEO Hints at Sale of Business Groups

{May 22nd, 2012} by Maria Wood

By Maria Wood May 18, 2012 • The sale of Aviva USA may be closer to reality after the acting head of the unit’s U.K.-based parent company stated that the company will consider the disposition of some of its business lines. In a statement released Thursday, John McFarlane, executive deputy chairman, outlined a set of […]

Why You Should Care About Your Online Brand

{May 22nd, 2012} by Todd Greider

By Todd Greider May 15, 2012 • Did you know your brand starts with your online storefront and presence, also known as your website and anything else that the general public can find about you online? That’s right, your website, your Facebook account and everything else posted about you online are critically important to your […]

AnnuitySpecs.com Releases First Quarter, 2012 Indexed Sales Results

{May 22nd, 2012} by Press Release

Forty-four indexed annuity carriers participated in the 59th edition of AnnuitySpecs.com’s Indexed Sales & Market Report, representing 99% of indexed annuity production. Total first quarter sales were $8.0 billion, down just under 3% from the previous quarter. As compared to the same period last year, sales were up more than 13%. “It is not surprising […]

The Hartford Promotes Johnson To CIO And Gervasi To Lead HR

{May 22nd, 2012} by Dave Snowden

Business Wire, Inc. HARTFORD, Conn.–(BUSINESS WIRE)– The Hartford has promotedBrion Johnson to the position of chief investment officer and president ofHartford Investment Management Company, andMartha Gervasi to the position of executive vice president of Human Resources. Both executives report to the company’s Chairman, President and CEOLiam E. McGee, and the promotions are effective today. Johnson […]

Consumers Eager For Life Insurance, Survey Says

{May 22nd, 2012} by Liz Cheek

PR Newswire Association LLC NEW YORK, May 17, 2012/PRNewswire/ — A prime reason many uninsured individuals don’t have insurance coverage is that no carrier has invited them to purchase their products, according to a Deloittesurvey of life insurance buyers. Even insured individuals who are open to buying additional coverage often say that they have not been […]

First Quarter 2012 Indexed Insurance Sales

{May 21st, 2012} by Sheryl J. Moore

Indexed Annuity AnnuitySpecs.com’s Indexed Sales & Market Report, 1st Quarter 2012 shows first quarter 2012 indexed annuity sales were $8071 million, compared with sales of $7115 million for the first quarter of 2011. First quarter indexed annuity sales were down nearly 3.00% when compared with the previous quarter, and up nearly 14.00% when compared with […]

Aviva to weigh selling some units

{May 21st, 2012} by Adam Belz

Insurer’s ex-CEO had said he’d consider offers for W.D.M.-based U.S. division 11:52 PM, May. 17, 2012  |   Written by ADAM BELZ The acting head of Aviva’s global company said Thursday that the company would take a hard look at all its businesses and decide which to keep. Analysts have speculated for months that Aviva’s U.S. division, […]

Allstate Files $14 Million Fraud Case

{May 21st, 2012} by N/A

PR Newswire Association LLC HAUPPAUGE, N.Y., May 16, 2012/PRNewswire/ — Allstate Insurance Company is seeking to recover $14 millionagainst 111 New Yorkarea defendants in its 4th insurance fraud lawsuit of 2012. The complaint, filed under the Racketeer Influenced and Corrupt Organizations Act (“RICO”) and principles of common law, alleges that the defendants engaged in schemes in […]

Aviva Survey Links Women’s Stress Level to Their Financial Situation and Health

{May 21st, 2012} by Warren S. Hersch

By Warren S. Hersch May 17, 2012 •   A strong relationship exists between women’s level of stress, how they feel about their financial situation and their health, according to new research. Aviva USA, West Des Moines Iowa, published this finding in a summary of results from a survey conducted in collaboration with Mayo Clinic, […]

Broker-Dealer ordered to recover $1M+ in annuities sold to elderly widow

{May 21st, 2012} by Thomas Grillo

Boston Business Journal by Thomas Grillo, Real Estate Editor Date: Thursday, May 17, 2012, 1:39pm EDT Thomas Grillo Real Estate Editor- Boston Business Journal H. Beck, a Maryland-based broker-dealer, has been ordered by the Massachusetts Secretary of State to refund more than $1 million in annuities improperly sold to an elderly widow by one of […]

Secretary of state: Investment adviser took advantage of elderly widow with possible Alzheimer’s

{May 21st, 2012} by Alli Knothe

By Alli Knothe, Globe Correspondent A Maryland-based investment firm has been ordered to return more than $1 million after an employee allegedly took advantage of an elderly widow likely suffering from dementia. Massachusetts Secretary of State William Galvin also levied a $90,000 fine, as well as several other financial sanctions, against H. Beck Inc. after […]

Seniors on Their Finances and Health

{May 21st, 2012} by Daniel Williams

By Daniel Williams May 16, 2012 •   In our annual senior survey, we asked older consumers how they feel about their current financial and health situation. We also got them to talk about how well they have prepared for the present and their retirement. Read on to find out what they had to say.  […]

How Young Insurance Agents Are Changing the Industry

{May 21st, 2012} by Andrea Wells

  There’s a change happening — a big change. And some say young independent insurance agents are the catalyst for that change. They may even be leading a revolution, of sorts, says one young agent leader. Jason D. Cass, owner of the JDC Insurance Group based in Centralia, Ill., who also serves as chair of […]

Natalie Choate Talks Estate Planning & Annuities

{May 21st, 2012} by Joyce Hanson

What’s coming next: higher taxes in 2013, a wave of boomer Roth conversions and more. By Joyce Hanson, AdvisorOne May 11, 2012 •   To judge by the hundreds of attentive advisors who packed the Chicago Hilton’s International Ballroom on Thursday, nothing can compare to getting estate planning advice from tax lawyer Natalie Choate. The […]

Transamerica: More than Three-Quarters of Workers Fund an Employer-Sponsored Retirement Plan

{May 21st, 2012} by Warren S. Hersch

By Warren S. Hersch MAY 16, 2012 • More than three in four workers continue to fund an employer-sponsored retirement plan, according to a new report. Transamerica Center for Retirement Studies, Los Angeles, disclosed this finding in its 13th Annual Transamerica Retirement Survey. The online survey polled a nationally representative sample of 3,609 full- and […]

Fla. Agent Arrested for Alleged $2 Million Investment Fraud

{May 17th, 2012} by Fran Matso Lysiak

Best’s News Service – May 16, 2012 04:05 PM TALLAHASSEE, Fla. – A former Florida insurance agent was arrested on grand theft charges for allegedly misrepresenting factual details of financial products, including variable annuities, to several elderly clients who lost more than $2 million from the unsuitable investments, state officials said. An investigation by the […]

Annuity Carrier Exits: Tsunamis or Small Waves?

{May 16th, 2012} by Linda Koco

Posted By: Editor On 5/16/2012 11:11:00 AM By Linda Koco AnnuityNews The news that Andrew Moss is resigning from as chief executive of Aviva, Britain’s largest insurer, set off another round of annuity industry jitters. Those jitters get stirred up every time a major annuity carrier makes a market exit or announces a surprise departure […]

Annuities Are Always in Vogue

{May 16th, 2012} by Eric Thomes

By Eric Thomes May 15, 2012 • Clients need guarantees, not Wall Street promises. From a financial industry perspective, the first quarter of 2012 was a reason to celebrate. The stock market had its best first quarter in 14 years, with the Dow Jones Industrial Average up 8 percent and the S&P 500 up 12 […]

Nonlife Profit Surges For Allianz, Life Results Fell

{May 16th, 2012} by David Pilla

David   Pilla Allianz SE said a strong earnings recovery in the first quarter added to management’s sense of optimism that its life and nonlife insurance businesses will do well following the impact of catastrophe losses of 2011 and a weak European economy. Chief Financial Officer Oliver Bate said in a conference call that Allianz […]

Prudential Cracks Top 10 on "Top 50 Companies for Diversity" list

{May 15th, 2012} by Michael K. Stanley

By Michael K. Stanley May 9, 2012 • Prudential Financial has secured a top spot on DiversityInc magazine’s “Top 50 Companies for Diversity” list. A total of 587 companies entered into the competition, an 11% uptick from the previous year. Prudential came in this year at number nine after being ranked at 16 last year, […]

Youth Will Be Served

{May 15th, 2012} by Brian Anderson

By Brian Anderson May 11, 2012 • Youth and the life insurance industry haven’t gotten along very well lately, with a widespread and (sadly) largely accurate perception that young people just aren’t interested in careers in life insurance. We’ve got a couple of stories scheduled for the June issue of Life Insurance Selling (which will […]

What's a L.I.R.P.?

{May 15th, 2012} by Sheryl J. Moore

By David C. McKnight May 11, 2012 • Americans are watching with a growing sense of dread as our nation’s debt levels continue to spiral out of control. In just 15 short years, we’ve gone from budget surpluses to more than $15 trillion of debt. What’s worse, the federal government doesn’t show any signs of […]

A.M. Best Special Report: Universal Life Secondary Guarantees Generate Increasing Risk Profile

{May 15th, 2012} by N/A

Best’s News Service – May 14, 2012 09:14 AM OLDWICK, N.J. – A.M. Best Co. views positively the National Association of Insurance Commissioners’ (NAIC) draft framework for regulatory guidelines to evaluate reserves for universal life products with secondary guarantees (ULSG). The NAIC took the first step toward resolving the AG 38 issue on February 21, […]

Allstate Announces Plans To Grow Florida Agency Force

{May 15th, 2012} by N/A

PR   Newswire Association LLC ST. PETERSBURG, Fla., May 14, 2012/PRNewswire/ — Allstate’s Florida Regionannounced plans today to expand its footprint across the state of Florida, mostly concentrated in North and Central Florida. The company hopes to add dozens of new agencies and the total growth plan will also bring more than 70 support staff […]

Young workers on 401(k) offerings: We want sure things

{May 14th, 2012} by Darla Mercado

Gun-shy employees keen on investments that provide guaranteed income; little interest in diversification By Darla Mercado May 14, 2012 Employees in their 20s may have decades of investing ahead, but right now they’re craving access to guaranteed income through their 401(k) plans. Fully 95% of workers under 30 who don’t have access to a guaranteed […]

Insurer Allianz Q1 profit surges to (EURO)1.4 billion

{May 14th, 2012} by N/A

May 09, 2012 Associated   Press FRANKFURT, Germany — Insurance company Allianz SE says net profits shot up more than 50 percent to (EURO)1.4 billion in the first quarter compared to a year ago as claims from natural disasters fell. Earnings a year ago were (EURO)915 million, when the company reported (EURO)737 million in payouts […]

Lincoln National Life Insurance Assigned Patent

{May 14th, 2012} by N/A

Targeted   News Service By Targeted News Service ALEXANDRIA, Va., May 9 — Lincoln National Life Insurance, Fort Wayne, Ind., has been assigned a patent (8,175,940) developed by Anthony C. Laudato, Westfield, Mass., and Douglas K. Noble, Avon, Conn., for a “method and system for administering a variable universal life insurance product having a volatility […]

Half of Americans Not Contributing to Retirement Plan

{May 14th, 2012} by N/A

WINDSOR, Conn., May 9, 2012 — According to a new LIMRA survey, 49 percent of Americans said they weren’t contributing to any retirement plan; Americans ages 18-34 were more likely (56%) to be among those not saving. “The findings from this survey were disturbing, given that people will increasingly need to rely on their personal […]

VA surrenders jumped after Hartford bowed out

{May 14th, 2012} by Darla Mercado

By Darla Mercado May 13, 2012 After The Hartford Financial Services Group Inc. announced that it was getting out of the variable annuity business, surrender rates for existing contracts jumped sharply — a sign that registered representatives might be churning their customers’ accounts. Even though The Hartford made it clear that it would continue to […]

Do Advisors Need to Videotape Annuity Sales?

{May 14th, 2012} by Maria Wood

By Maria Wood May 11, 2012 • Anyone who grew up in the New York City area as I did watched sportscaster Warner Wolf. His signature phrase was “Let’s go to the videotape!” whenever he introduced a highlight of an amazing layup or a baseball smacked into the stands. As incongruous as this might sound, […]

A Report of the Glenn Neasham Case that You Cannot Miss

{May 13th, 2012} by Sheryl J. Moore

For more than a decade, I have benefitted from a subscription to a journal called, The Insurance Forum.  The editor of this trusted publication, Dr. Joseph Belth, is an unrivaled insurance researcher and reporter, as well as a renowned Professor Emeritus of Insurance in the Kelley School of Business at Indiana University. If you want […]

ING U.S. Names Michael Smith Chief Risk Officer

{May 12th, 2012} by Phil Margolis

NEW YORK, May 11, 2012 /PRNewswire/ — ING U.S. announced today that Michael Smith has been named chief risk officer with responsibility for overseeing the enterprise-wide and business-level risk monitoring and management program for ING U.S. Smith joined ING in 2009 as chief financial officer and chief risk officer for the ING U.S. Annuity business, […]

Should Annuities Provide Your Retirement Paycheck?

{May 12th, 2012} by Tom Hegna

by Tom Hegna Published May 11, 2012 | FOXBusiness advertisement With traditional safety nets such as company pensions and Social Security dwindling, many of the 78 million baby boomers are left trying to answer one question: “Who’s going to pay my retirement paycheck?” Annuities are one investment that more and more prospective retirees are considering. […]

FINRA Rejects A New York State Of Mind When It Comes To New Jersey Annuity Signatures

{May 11th, 2012} by Bill Singer

5/09/2012 @ 8:20AM |1,058 views In response to the filing of a Complaint on January 12, 2012, by the Department of Enforcement of the Financial Industry Regulatory Authority (“FINRA”), Respondent Robert Joseph Kennedy III submitted an Offer of Settlement dated April 24, 2012, which the regulator accepted. Under the terms of the Offer of Settlement, […]

A.M. Best Comments on the Departure of Aviva plc’s CEO

{May 11th, 2012} by Sheryl J. Moore

Best’s News Service – May 09, 2012 11:08 AM LONDON – A.M. Best Europe – Rating Services Limited has commented that the financial strength ratings, issuer credit ratings and debt ratings of Aviva plc (Aviva) (United Kingdom) and its subsidiaries are unaffected by the recent announcement that Aviva’s chief executive officer (CEO) is to leave […]

Genworth to Lay Off About 70 Employees in US Life, Information Technology Operations

{May 11th, 2012} by Fran Matso Lysiak

Best’s News Service – May 09, 2012 01:57 PM RICHMOND, Va. – Mortgage and life insurer Genworth Financial Inc. is laying off about 70 employees in Virginia who work in its U.S. life insurance and information technology organizations. The organizational changes “are designed to drive cost efficiencies within U.S. life insurance, as well as move […]

Allianz Life Hires Mike Fischer as New Legal Department Vice President

{May 11th, 2012} by N/A

press release May 10, 2012, 11:52 a.m. EDT Fischer to Lead Legal Oversight of Business Operations, Product Development and Product Distribution MINNEAPOLIS, May 10, 2012 (BUSINESS WIRE) — Allianz Life Insurance Company of North America (Allianz Life) named Mike Fischer as a new vice president within the Legal department. In this role, Fischer will be […]

Information Pays as it Sways Income Annuity Buyers

{May 10th, 2012} by Linda Koco

Posted By: Editor On 5/2/2012 9:50:00 AM By Linda Koco AnnuityNews Tell them and they will buy, according to a study that showed that when advisors tell pre-retirees about income annuities, at least 30 percent said they were likely to purchase one. The study of more than 1,000 adults — half pre-retirees and the other […]

See Annuity Sales Growth with Lens of Success

{May 10th, 2012} by W. Andrew Unkefer

Posted By: Editor On 5/9/2012 12:43:00 PM By W. Andrew Unkefer AnnuityNews Every single day, I see offers being made to agents that misdirect their energy, time and resources to serve someone else’s business plan. The offer nearly always plays on the agent’s own strong desire to achieve or fear of failure. This is why […]

Hedging Guaranteed Income for Life vs. Wealth Accumulation

{May 10th, 2012} by Daniel Williams

By Daniel Williams May 4, 2012 • Too many people look at retirement the wrong way, according to Eric Henderson, left, senior vice president of individual products and solutions at Nationwide Financial Services. Instead of focusing on a guaranteed stream of income for life, they work their entire career with a dollar amount in their […]

Shenandoah Life Is Resurrected With a Former Aviva Life CEO at the Helm

{May 10th, 2012} by Fran Matso Lysiak

Best’s News Service – May 08, 2012 04:48 PM ROANOKE, Va. – After a $60 million capital infusion, a Virginia life insurance company has come back to life—successfully exiting receivership, a rare occurrence in the industry and something its new chief executive officer calls a “remarkable achievement.” The transaction, finalized May 8 by order of […]

Business Review to Come as Aviva CEO Steps Down

{May 10th, 2012} by Meg Green

Best’s News Service – May 08, 2012 02:37 PM LONDON – Aviva plc said Andrew Moss, chief executive officer, will be leaving the group immediately and his interim successor is promising a good hard look at the company’s businesses. Chairman-designate John McFarlane will become interim executive deputy chairman immediately, and executive chairman on July 1 […]

AmeriLife Acquires Vertical Vision: Combining Resources Elevates Annuity Presence

{May 10th, 2012} by Wayne Shelor

AmeriLife Group, LLC, one of the nation’s largest life and health insurance marketing organizations, announced today the acquisition of Vertical Vision Financial Marketing, LLC, a Woodstock, Georgia insurance marketing organization specializing in annuity sales. Clearwater, FL – May 03, 2012 AmeriLife Group, LLC, one of the nation’s largest life and health insurance marketing organizations, announced […]

Shenandoah Life Insurance Co. Successfully Exits Receivership

{May 10th, 2012} by N/A

PR Newswire Association LLC ROANOKE, Va., May 8, 2012/PRNewswire/ — Shenandoah Life Insurance Co. today announced that, following a $60 millioncapital infusion, it has successfully exited receivership – a rare occurrence in the industry. Shenandoah Life, which has been serving policyholders since its founding in 1914, will continue to be based in Roanoke as a subsidiary […]

More than 40% of Adults in the Dark about Mothers' Life Insurance

{May 10th, 2012} by N/A

PR Newswire Association LLC SAN FRANCISCO, May 7, 2012/PRNewswire/ — More than 40 percent of U.S. adults whose mothers are living don’t know whether their moms have life insurance, according to a new survey released today by InsuranceQuotes.com, a Bankrate Insurance company. And even those who do know their mothers’ life insurance plans are often in […]

Advise Accurately on Annuity Adjustments

{May 10th, 2012} by Marc Silverman, CLU, ChFC

By Marc Silverman, CLU, ChFC May 7, 2012 •   When clients start to panic at the thought of their retirement savings not lasting a lifetime, many of them jump to the solution of an immediate annuity. While annuities are still a popular choice for soon-to-be and current retirees, the protocol for them is changing […]

On the Fence About Annuities?

{May 10th, 2012} by Kelly Greene

May 7, 2012, 7:30 AM By Kelly Greene Do Americans like the idea of buying annuities to guarantee their retirement income? It depends on how you frame it, according to research released last week by BlackRock, for which Boston Research Group polled 1,035 retirees. Asked if they would have chosen a steady income stream throughout […]

Staying On Top of Product Offerings in a Changing Marketplace

{May 10th, 2012} by Anthony Vossenberg

By Anthony Vossenberg May 4, 2012 • Recent headlines tell it all — many major insurance carriers are re-pricing their product lines, and in some cases, withdrawing products from the market to focus on key strengths or areas of specialty. It is common knowledge that fewer carriers are maintaining a generalist strategy and attempting to be […]

Aviva Chief Resigns Over Shareholder Pay Revolt

{May 10th, 2012} by Julia Werdigier

May 8, 2012, 4:26 am Revolving Door   By JULIA WERDIGIER 11:55 a.m. | Updated LONDON — A shareholder revolt against executive pay gained momentum on Tuesday with the unexpected resignation of Andrew Moss, the chief executive of Aviva, the British insurance company, after its pay practices lost investor support. Investors balked when Mr. Moss […]

Aviva CEO Pressed to Step Down After Meeting Revolt

{May 8th, 2012} by Kevin Crowley

By  Kevin Crowley on May 07, 2012 Aviva Plc (AV/) Chief Executive Officer Andrew Moss is under mounting pressure to boost shareholder returns or step down from the U.K.’s second-biggest insurer by market value. Fifty-four percent of the insurer’s shareholders voted against its compensation plan last week following five years of underperforming its rivals and […]

Insurance Agent Indicted, Arrested on Federal Fraud Charges

{May 7th, 2012} by N/A

Targeted   News Service RALEIGH, N.C., May 4– The North Carolina Department of Insuranceissued the following news release: Insurance Commissioner Wayne Goodwin today announced the arrest of John A. Womack, Jr., 66, of 1100 North Rotary Drive, High Point; he is charged with four counts of mail fraud, two counts of making false statements to […]

Security Benefit Upgraded to A- Rating by Standard & Poor's Ratings Services

{May 7th, 2012} by N/A

press release May 3, 2012, 6:43 p.m. EDT TOPEKA, KS, May 03, 2012 (MARKETWIRE via COMTEX) — In a much anticipated announcement this morning, Standard & Poor’s Ratings Services said that it raised its long-term counterparty credit and financial strength ratings on Security Benefit Life Insurance Co. (SBLIC) and its affiliate, First Security Benefit Life […]

Another Case for Annuities in 401(K) Plans? Cognitive Impairment

{May 7th, 2012} by Diana Britton

By Diana   Britton The battle to get annuities into 401(k) plans has been hard-fought, and it’s not over yet. Insurance companies see a need to get ‘lifetime income products’ into retirement plans, and have had some success making the case that most plan participants aren’t prepared to create an income plan on their own. […]

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