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Archive for December 2012

Allstate Board OKs Share Buyback Plan Of Up To $1B

{December 24th, 2012} by N/A

NORTHBROOK, Ill. — The Allstate Corp. said Monday that its board of directors approved a plan to buy back up to $1 billion of the insurer’s shares by the end of next year. The company will fund the share buyback plan by issuing a like amount of subordinated debentures to be issued over the next […]

A.M. Best Downgrades Ratings of Aviva Life and Annuity Company and Its Subsidiary; Places Ratings Under Review

{December 24th, 2012} by N/A

Best’s News Service – December 21, 2012 03:17 PM OLDWICK, N.J. – A.M. Best Co. has downgraded the financial strength rating to A- (Excellent) from A (Excellent) and issuer credit ratings (ICR) to “a-” from “a” of Aviva Life and Annuity Company (ALAC) (West Des Moines, IA) and its wholly owned subsidiary, Aviva Life and […]

Grandparents Step Up Their Financial Support Of Grandkids

{December 24th, 2012} by N/A

More than six in 10 grandparents (62%) have provided financial support to grandchildren in the past five years, averaging $8,289, according to MetLife Mature Market and advocacy group Generations United. Grandparents distribute this assistance in cash (82%), gifts (62%), U.S. Savings Bonds (12%), stocks or bonds (4%), or life insurance proceeds (2%). Grandparents earmark financial […]

A.M. Best Comments on Athene Holding Ltd. Acquisition of Aviva Life and Annuity Company

{December 24th, 2012} by N/A

Best’s News Service – December 21, 2012 03:19 PM OLDWICK, N.J. – A.M. Best Co. has commented that the financial strength ratings of B++ (Good) and issuer credit ratings of “bbb+” of Athene Annuity & Life Assurance Company (Athene Annuity) (Greenville, SC) are unchanged following Athene Holding Ltd.’s (Athene) (Bermuda) Dec. 21, 2012, announcement that […]

Aviva Sells US Life Business to Athene Holding for $1.8 Billion

{December 24th, 2012} by Jeff Jeffrey

Best’s News Service – December 21, 2012 01:29 PM LONDON – Aviva plc has agreed to sell its U.S. life and annuity business, Aviva USA Corp., to Bermuda-based Athene Holding Ltd. for $1.8 billion. London-based Aviva will retain Aviva Investors, the company’s North American asset management business. The sale is the latest step in the […]

Death of a (life insurance) salesman?

{December 24th, 2012} by Mindy Lamont

Opinion By Mindy Lamont December 21, 2012 • When I first entered the industry there were three “retired” agents who would sit down in the building’s lobby café, lamenting about how it used to be and how the industry was coming to an end. The new guys didn’t know how to sell or how to […]

Athene buys Aviva USA for $1.8 billion

{December 24th, 2012} by Maria Wood

By Maria Wood December 21, 2012 • After months of speculation, Aviva PLC has found a buyer for its U.S. subsidiary. This morning, Athene Holding Ltd., a life insurance holding company that focuses primarily on fixed and equity indexed annuities, has agreed to acquire Aviva USA Corp. for $1.8 billion. In a statement, John McFarlane, […]

Athene To Acquire Aviva’s U.S. Annuity, Life Business

{December 24th, 2012} by Bill Free and Kevin Waetke

Athene Holding Ltd. to Acquire Aviva’s U.S. Annuity and Life Business PEMBROKE, Bermuda–(BUSINESS WIRE)–Athene Holding Ltd., a Bermuda-based insurance holding company (“Athene Holding”, and together with its subsidiaries, “Athene”), announced today that it will acquire Aviva plc’s U.S. annuity and life insurance operations (“Aviva USA”), including Aviva Life and Annuity Company, based in Iowa, and […]

On Guggenheim, Sun Life Financial, and Annuities

{December 19th, 2012} by Linda Koco

Wouldn’t you know it? Once again, just when the annuity industry had stopped talking about the Guggenheim Partners expansion into “the annuity space,” the Chicago- and New York-based private equity went and made another annuity-infused deal. The natural question is, will this deal have much impact on the annuity market? First, an overview of the […]

Symetra Said to Join Apollo in Bid for Aviva’s U.S. Unit

{December 17th, 2012} by Zachary Mider

By Zachary R. Mider, Kevin Crowley and Matthew Monks – Dec 15, 2012 Symetra Financial Corp. (SYA), the life insurer that counts Warren Buffett’s Berkshire Hathaway Inc. among its largest holders, joined Apollo Global Management LLC (APO)to bid for Aviva Plc (AV/)’s U.S. unit, said two people with knowledge of the matter. Apollo and Symetra, […]

Sun Life To Sell U.S. Annuity Business

{December 17th, 2012} by N/A

PR   Newswire Association LLC Transaction advances Sun Life’s strategy of reducing its risk profile and focusing U.S. insurance operations on its growing employee benefits and voluntary benefits franchises TORONTO, Dec. 17, 2012 /PRNewswire/ – Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) today announced the execution of a definitive agreement whereby Delaware Life Holdings, […]

Another ratings cut for big seller of indexed annuities

{December 14th, 2012} by Darla Mercado

Moody’s lowers financial strength grade for Aviva Life; third reduction in three months By Darla Mercado December 14, 2012 Moody’s Investors Service Inc. has downgraded Aviva Life and Annuity Co.’s insurance financial strength ratings to Baa1, from A1, as its parent prepares to sell the unit. This is the third ratings cut the insurer has […]

Out of tune

{December 14th, 2012} by Walter White

Opinion Exactly what do pianos have to do with annuities? This may seem like an odd question, but customers of insurance companies owned by Baldwin-United Corp. would have been wise to make that inquiry when deciding which companies to trust with their retirement savings. In the 1960s and 1970s, Baldwin Piano & Organ Co. was […]

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AnnuitySpecs.com: sales of indexed annuities rise in third quarter

{December 11th, 2012} by Warren S. Hersch

Sales of fixed indexed annuities edged up in the third quarter, according to a new report. AnnuitySpecs.com, Pleasant Hill, Iowa, published this finding in a summary of results from its Indexed Sales & Market Report. Forty-five indexed annuity carriers participated in the 61st edition of the report, representing 99 percent of indexed annuity production. Click […]

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AnnuitySpecs.com Releases Third Quarter, 2012 Indexed Sales Results

{December 10th, 2012} by Sheryl J. Moore

Pleasant Hill, Iowa. December 10, 2012– Forty-five indexed annuity carriers participated in the 61st edition of AnnuitySpecs.com’s Indexed Sales & Market Report, representing 99% of indexed annuity production. Total third quarter sales were $8.7 billion, up 0.04% from the previous quarter. As compared to the same period last year, sales were up 0.24%. “This quarter’s […]

AnnuitySpecs.com Releases Third Quarter, 2012 Indexed Sales Results

{December 10th, 2012} by Press Release

  Pleasant Hill, Iowa. December 10, 2012– Forty-five indexed annuity carriers participated in the 61st edition of AnnuitySpecs.com’s Indexed Sales & Market Report, representing 99% of indexed annuity production. Total third quarter sales were $8.7 billion, up 0.04% from the previous quarter. As compared to the same period last year, sales were up 0.24%. “This […]

Interested in Becoming the new Product Line Director for a Midwestern Home Office?

{December 10th, 2012} by Sheryl J. Moore

Email me for more details if you have the following qualifications and are interested in this position. Key Requirements/Skills/Experience – 8-10 years experience required: 10+ years in Financial Services with recent experience directly leading product initiatives in Life Insurance. – Four-year degree required: Bachelors degree in related field – Life Insurance license or willingness to […]

(Q32012) Annuity Interview w/ Sheryl J Moore

{December 7th, 2012} by Matt Neuman

Indexed Annuity Report – Tips and Trends from Expert Sheryl Moore! Recently I had the great opportunity to interview fixed indexed annuity expert, Sheryl J. Moore. Sheryl is the President and CEO of Moore Market Intelligence, and collects data on indexed annuity industry trends and the marketplace.  Sheryl has helped me to personally stay on […]

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The variable annuity buyout binge

{December 5th, 2012} by Sheryl J. Moore

Variable annuities (VAs) have risen in popularity since their development in 1952. This increased attention is due to the products’ annuity benefits being coupled with the potential for market-based gains. Yet, it is this same potential for unlimited gain that has caused volatility in sales for companies issuing these products. Why?  Click here to read…

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