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NAFA Responds to Senator Elizabeth Warren’s Request for Annuity Sales Information from Leading Insurance Carriers

{May 6th, 2015} by Scott Hinds, Dir of Communications, NAFA

FOR IMMEDIATE RELEASE Contact: Chip Anderson, Executive Director Direct 414.332.9306 ext.1 chip@nafa.com Annuity Benefits and Robust Regulations Provide Thorough Consumer Protections NAFA Issues Statement Following Senator Warren’s Request for Annuity Sales Information from Leading Insurance Carriers WASHINGTON (May 6, 2015) – NAFA, the National Association of Fixed Annuities, issued the following statement in regards to […]

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Wink is turning 10!

{May 5th, 2015} by Sheryl J. Moore

As we celebrate our ten year anniversary at Wink this month, I have been reminiscing about on how it all began… I have worked in the research and development of these products for over a decade and am committed to the advocacy of the life insurance industry. My career started at a small insurance company that […]

Top 5 reasons to buy a fixed annuity

{May 5th, 2015} by Rich Lane

For financially conservative investors who want to build and protect their assets, fixed annuities are a great option. With many investors scarred from losing money in the recent economic downturn, clients are interested in a vehicle that has a guaranteed minimum rate of return. That is one of the reasons why the fixed annuities industry […]

Great American Launches New Death Benefit Rider to Complete Rider Portfolio

{May 5th, 2015} by Business Wire

CINCINNATI–(BUSINESS WIRE)–Great American has expanded its product offerings to include an optional death benefit rider with its newest fixed-indexed annuity, the American Custom 10SM. The Legacy Income OptionSM rider, offering consumers the ability to receive income while preserving their legacy, is now exclusively available with the American Custom 10. The annuity product is designed to […]

How a foreign national could benefit from a U.S. IUL policy

{May 5th, 2015} by Travis M. Burke

Whether one is classified as a resident alien (permanently resides in the U.S.) or non-resident alien (has their primary residence in a country other than the United States), international clients face a number of complex financial planning challenges that could be addressed by the prudent use of a U.S.-based life insurance policy. Some of their […]

AALU speaker: Watch for these 15 changes come 2020

{May 5th, 2015} by Warren S. Hersch

By 2020, most life insurance and financial service professionals will belong to multigenerational professional insurance services firms. Wearable devices like smart watches will enable carriers to provide continuous underwriting and adjust premiums accordingly. Advisors and client prospects will also more easily locate each other through social media networks. Click Here to read article 

Mom’s Annual Worth Rises Above $65,000

{May 5th, 2015} by Globe Newswire

FOSTER CITY, Calif., May 4, 2015 (GLOBE NEWSWIRE) — The annual value of a mother’s work has risen more than $5,000 in the last two years, according to the Insure.com 2015 Mother’s Day Index. Mom’s work is now worth $65,284 per year, 9.1 percent above the $59,862 her work “earned” in 2013. This year’s figure […]

Fiduciary Rule to Affect Fixed Annuities, Credit Suisse Says

{May 5th, 2015} by Arthur D. Postal, arthur.postal@innfeedback.com

WASHINGTON – The new fiduciary standard proposed by the Labor Department targets the sale of securities products such as variable annuities, but will likely also pull fixed indexed annuities into the picture, according to a Credit Suisse investment note. That is for two reasons: The proposed rules include a reasonable compensation standard and a letter […]

Life Insurance 101: Choosing Policy Boils Down To 1 Question

{May 5th, 2015} by Dan Nielsen, The Record-Eagle, Traverse City, Mich.

May 02–TRAVERSE CITY — Life insurance hardly ever comes up as a topic of everyday discussion. Any serious conversation involving death is emotionally awkward. The idea seems ridiculous to young folks who haven’t yet internalized the idea of their own mortality. The topic is scary for those of middle age or beyond. Insurance agents sometimes […]

Source-Of-Funds Issue? Check The Newspaper

{May 5th, 2015} by Linda Koco, linda.koco@innfeedback.com

Agents who are licensed only to sell insurance — the so-called “insurance-onlys” — may not be thinking about checking out their local newspaper before speaking with prospects about the funds they plan to use to pay for a fixed annuity. However, reviewing the newspaper benchmark might be the very thing that can help an agent […]

Life Insurers Challenged By Competitive Landscape

{May 5th, 2015} by Business Wire

  Towers Watson survey finds life insurers’ technology limitations affecting their profits ARLINGTON, Va.–(BUSINESS WIRE)– Chief financial officers (CFOs) at North American life insurance companies say they continue to face sizable competitive challenges to their profitability, yet only a small number (20%) believe they are well prepared to respond to this competitive environment. Life insurers […]

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Addressing suicide prevention

{May 5th, 2015} by Sheryl J. Moore

“Thanks to the media for continuing to cover the problems at our schools. We need help!” ~ sjm Vigil remembers 12-year-old suicide victim, raises bullying awareness DES MOINES, Iowa —Iowans gathered at a vigil Sunday night to remember a 12-year-old suicide victim and raise awareness of bullying. The mother of 12-year-old Alyssa Morgan told KCCI […]

New Fiduciary Rule to Affect Fixed Annuities

{May 5th, 2015} by Warren S. Hersch, whersch@SummitProNets.com

WASHINGTON – The new fiduciary standard proposed by the Labor Department targets the sale of securities products such as variable annuities, but will likely also pull fixed indexed annuities into the picture, according to a Credit Suisse investment note. That is for two reasons: The proposed rules include a reasonable compensation standard and a letter […]

Retirement Income Planning Is Like Calculus, Researcher Says

{May 5th, 2015} by Linda Koco, linda.koco@innfeedback.com

Insurance researcher Mathew Greenwald has some sobering news for advisors who rely only on financial engineering when they work on retirement planning with clients. The retirement industry is a rational, mathematical business, but it also must factor in emotions when dealing with clients and helping them make retirement decisions, said Greenwald, who is president of […]

Fiduciary Proposal The Latest Hot Topic Among Insurers

{May 5th, 2015} by Cyril Tuohy, cyril.tuohy@innfeedback.com

With the initial batch of first-quarter earnings from life insurance companies now part of the record, the Department of Labor’s (DOL’s) new fiduciary proposal has supplanted interest rates as the hot topic among life insurance company executives. In opening remarks and in response to questions from equities analysts, the executives said they were looking closely […]

A.M. Best Places Ratings of Genworth Financial, Inc. and Subsidiaries Under Review with Developing Implications

{May 5th, 2015} by Best's News Service

Oldwick – A.M. Best has placed the financial strength rating of A- (Excellent) and the issuer credit ratings (ICR) of “a-” of the key life/health subsidiaries of Genworth Financial, Inc. (Genworth) (Richmond, VA) [NYSE: GNW] under review with developing implications. Additionally, the ICR of “bbb-” of Genworth and its existing debt ratings have been placed […]

Genworth Financial Stock Up on Plans to Divest Some Operations

{May 5th, 2015} by Leslie Scism, leslie.scism@wsj.com

Genworth Financial Inc.’s stock rose 11% Wednesday as it revealed plans to sell some or all of its life-insurance and retirement-income annuity operations. Chief Executive Officer Thomas McInerney told analysts and investors during the insurer’s first-quarter earnings call Wednesday that it is in the “early stages of talking to players who might be interested” in […]

Genworth Financial Posts First Profitable Quarter Since Second Quarter of 2014

{May 5th, 2015} by Fran Matso Lysiak, senior associate editor, BestWeek: fran.lysiak@ambest.com

RICHMOND, Va. – Long-term care and mortgage insurer Genworth Financial Inc. posted a profit in the opening quarter of 2015. First-quarter net income available to Genworth’s stockholders declined 16% to $154 million Steven D. Schwartz, an equity analyst with Raymond James & Associates, told Best’s News Service the quarter represents the first profitable one for […]

American Equity Reports First Quarter 2015 Results

{May 5th, 2015} by Business Wire

WEST DES MOINES, Iowa, Apr 29, 2015 (BUSINESS WIRE) — American Equity Investment Life Holding Company AEL, -2.17% a leading issuer of fixed index annuities, today reported first quarter 2015 net income of $5.9 million, or $0.07 per diluted common share, compared to a first quarter 2014 net loss of $9.8 million, or $0.13 per […]

How to sell insurance to women

{May 5th, 2015} by Caroline Feeney

Prudential Financial’s recently released “Financial Experience & Behaviors Among Women: 2014-2015 Prudential Research Study” focused on women’s attitudes and behaviors toward money and financial goals. The study found that although women are assuming greater overall control of their family finances, they are not any more confident about their financial preparedness than they were 10 years […]

Brenda Cushing to Leave Athene Holding Ltd.

{May 4th, 2015} by Business Wire

PEMBROKE, Bermuda–(BUSINESS WIRE)–Athene Holding Ltd. (“Athene Holding,” and together with its subsidiaries, “Athene” or the “Company”) announced today that Brenda Cushing, Chief Financial Officer for Athene, has decided to leave the company effective August 14, 2015, after 22 years with the organization and its legacy companies. Ms. Cushing plans to pursue other professional and personal […]

Here are 12 things to keep tabs on at the AALU meeting in DC

{May 4th, 2015} by Warren S. Hersch, whersch@SummitProNets.com

Life insurance is now properly taxed. Annuity providers, whatever Senator Elizabeth Warren may think, don’t need more regulation. And to help drive home these points with lawmakers, the Association for Advanced Life Underwriting has initiatives underway to boost its membership ranks and supporters on Capitol Hill. So communicated three AALU executives —Marc Cadin, a senior […]

Advisers ramp up efforts to create tax-conscious retirement withdrawal strategies

{May 3rd, 2015} by Darla Mercado

Money saved here can go toward extending the life of clients’ nest eggs   Tax considerations are becoming a larger piece of the retirement income puzzle for clients, requiring advisers to work with accountants to create tax-conscious withdrawal strategies. When President Barack Obama signed the American Taxpayer Relief Act into law at the beginning of […]

Pittsburgh Post-Gazette Len Boselovic’s Heard Off the Street column

{May 3rd, 2015} by Len Boselovic, Pittsburgh Post-Gazette

May 03–Here’s the bottom line that Col. Matteo Martemucci, commander of the U.S. Air Force’s 318th Cyberspace Operations Group, delivered to area financial analysts on the topic of cyber security: “If you’ve got an IP address, you’re vulnerable.” The colonel’s warning didn’t help the members of the CFA Society of Pittsburgh, who turned out for […]

Fitch Affirms Western & Southern’s IFS Ratings at ‘AA'; Outlook Stable

{May 1st, 2015} by Business Wire

CHICAGO–(BUSINESS WIRE)–Fitch Ratings has affirmed the Issuer Default Rating (IDR) of Western & Southern Financial Group (W&SFG) at ‘AA-‘ and the Insurer Financial Strength (IFS) ratings for W&SFG’s wholly owned life insurance subsidiaries at ‘AA’. A detailed list of ratings follows at the end of this release. The Rating Outlook is Stable. KEY RATING DRIVERS […]

Allstate Completes Divestiture Of Lincoln Benefit

{May 1st, 2015} by Arthur D. Postal, arthur.postal@innfeedback.com

WASHINGTON – Allstate has completed the divestiture of Lincoln Benefit Life, which included Allstate’s entire deferred fixed annuity and long-term care insurance businesses. Lincoln Benefit Life was the unit of Allstate’s life insurance business that generated sales through independent agencies. Allstate sold the business in July 2013 to Resolution Life Holdings for $600 million, and […]

Lincoln Financial Group Reports 1Q Results

{May 1st, 2015} by Business Wire

Operating EPS of $1.35, up 1% Book Value per Share, excluding AOCI, of $49.70 up 9% Share Repurchases of $350 million in the Quarter RADNOR, Pa.–(BUSINESS WIRE)– Lincoln Financial Group (NYSE: LNC) today reported net income for the first quarter of 2015 of $300 million, or $1.15 per diluted share available to common stockholders, compared […]

Why Commissions Are Also Bad For Brokers

{May 1st, 2015} by Bob Clark

Readers who have been following the fiduciary-standard-for-brokers debate since the Dodd-Frank Act became law in 2010 through to the current Department of Labor IRA proposal are going to find this very hard to believe, but I think there is one facet of brokerage commissions that has not been discussed yet (let alone beaten to death): […]

AIG Leaders Discuss Fed Regulations, Quarterly Earnings

{May 1st, 2015} by Arthur D. Postal, arthur.postal@innfeedback.com

WASHINGTON – AIG’s corporate leadership used today’s first quarter earnings call to discuss the company’s relationship with the Federal Reserve. Restructuring AIG to escape regulation by the Federal Reserve is worth looking into, but it is not clear how doing so would benefit the company, AIG president and CEO Peter Hancock said. In comments at […]

Lincoln Financial’s First-Quarter Profit Drops 8.8% on More Long-Term Disability Insurance Claims

{May 1st, 2015} by Fran Matso Lysiak, senior associate editor, BestWeek: fran.lysiak@ambest.com

RADNOR, Pa. – Lincoln National Corp.’s first-quarter profit declined 8.8% due partly to more long-term disability claims that triggered an operating loss in its group protection business. Net income fell to $300 million. The group protection business reported an operating loss of $6 million compared with operating income of $20 million last year. An increase […]

Greenberg, Still Battling for AIG, Turns 90

{May 1st, 2015} by James B. Stewart

To his accusers, Maurice R. Greenberg, also known as Hank, is just one in a line of disgraced chief executives from the mid-2000s who resorted to accounting fraud to pad their lavish bonuses. But even they have to admit one thing: The man has stamina. Mr. Greenberg, who built A.I.G. into a global insurance colossus […]

Record number bump up 401(k) contributions

{April 30th, 2015} by Nick Thornton

A record 23 percent of participants in Fidelity-provided 401(k) plans increased their contribution rates in the first quarter of 2015, according to the company’s Quarterly Retirement Snapshot. The good news for the 13.5 million participants in Fidelity plans did not stop there. The average account balance was $91,800, up 3.6 percent from a year ago, […]

Insurance Sales Jobs Difficult To Fill

{April 30th, 2015} by Linda Koco, linda.koco@innfeedback.com

The insurance industry needs more sales professionals, but most companies are having a very hard time finding great candidates with or without experience, according to a new study. In fact, 80 percent of insurance employers surveyed told researchers that they are having difficulty finding qualified talent to fill many open positions, indicated GreatInsuranceJobs.com. This is […]

Pacific Life Releases Guides To Social Selling

{April 29th, 2015} by Cyril Tuohy, cyril.tuohy@innfeedback.com

Pacific Life, mindful of the growing value that social media networks bring to the sales process, has launched a series of resources and white papers to help financial advisors capture and master the power of social networks. The resources are aimed at beginners as well as financial professional who consider themselves expert at using social […]

Wells Fargo: How to Stop Elder Abuse

{April 29th, 2015} by Linda Koco, linda.koco@innfeedback.com

Wells Fargo Advisors is training every employee on financial abuse of elders, according to a company executive who spoke at a wide-ranging forum on aging this week. The computerized training is followed by a 10-question test, and those who don’t pass it must then take a 45-minute online training course on financial abuse, said Ron […]

DOL Not Budging on Fiduciary Rule Comment Period

{April 29th, 2015} by ThinkAdvisor

Industry groups want more time, but Perez says at The Atlantic Economic Summit that stated timeline is ‘a long time’ Labor Secretary Thomas Perez indicated Thursday that his department will not extend further the 75-day comment period for its redraft to amend the definition of fiduciary under the Employee Retirement Income Security Act. When asked […]

Black Financial Advisors Network launched at Raymond James

{April 29th, 2015} by James J. Green

During the annual conference of its independent contractor advisors in Las Vegas last week, Raymond James announced the formation of the Black Financial Advisors Network. Founded by three advisors within the Raymond James network — Tony Barrett, Joel Burstein and Kaon Nelson — the BFAN has the support of Raymond James’ top leadership, including CEO […]

The last two converts to income annuities? OPINION

{April 29th, 2015} by Kevin Startt

One of my favorite Yogi Berraisms is the insightful: “The future ain’t what it used to be.” One of the chiefs of the financial planning industry, Harold Evensky, recently changed his opinion on annuities, admitting that they make sense as a lifetime retirement income source. I also recently read an interview conducted with the dean […]

2014 equity performance of U.S. insurance industry sectors, global reinsurance mixed

{April 29th, 2015} by IFAwebnews Staff

The stock performance of U.S. property/casualty, life/annuity, health and global reinsurance companies was mixed during 2014 for the four major insurance industry sectors, according to a recent Special Report from A.M. Best. The report covers fourth quarter and full-year results. U.S. property/casualty stocks performed well in 2014, but further upside appears limited Of the property/casualty […]

April Showers bring May…

{April 28th, 2015} by Jamie Johnson

Stay tuned for more details! Check out Wink’s updates all month on social media at: Facebook Instagram LinkedIn Pinterest Twitter

U.S. Life Insurers Began 2015 With Strong Balance Sheets

{April 28th, 2015} by Arthur D. Postal, arthur.postal@innfeedback.com

WASHINGTON – U.S. life insurers reported that they began the year well-capitalized with strong balance sheets resulting from favorable equity and credit markets throughout 2014. That’s according to the latest Goldman Sachs Asset Management annual survey of the insurance industry. Insurers based in the Americas believe they are over-capitalized and have to increase credit and […]

Carriers Report Challenging Environment In 1Q

{April 28th, 2015} by Cyril Tuohy, cyril.tuohy@innfeedback.com

The volatile investment environment and lower interest rates made for a challenging business environment in the first quarter of 2015, according to top executives with four companies who reported earnings this week. Symetra Financial reported first quarter net income of $38.8 million, a 51 percent drop from $79.3 million in the year-ago period due to […]

Baltimore violence pushes financial professionals to remote locations

{April 28th, 2015} by Liz Skinner

The rioting and fires that broke out in the streets of West Baltimore Monday have mostly been extinguished, but many of the city’s advisers and financial professionals are working remotely. At Adams Funds, chief executive Mark Stoeckle put the firm’s continuity plan into motion after Maryland Governor Larry Hogan declared a state of emergency and […]

Fed Promises to Keep Light Hand on Insurance

{April 28th, 2015} by Arthur D. Postal, arthur.postal@innfeedback.com

WASHINGTON – The Federal Reserve sought to reassure skeptical members of the Senate Banking Committee and concerned state regulators today that it will not unilaterally impose international capital standards on domestic insurers. But the insurers might be subjecting themselves to international standards as they delve into other markets, said Mark Van Der Weide, deputy director […]

DOL not budging on fiduciary rule comment period

{April 28th, 2015} by Melanie Waddell

Labor Secretary Thomas Perez indicated Thursday that his department will not extend further the 75-day comment period for its redraft to amend the definition of fiduciary under the Employee Retirement Income Security Act. When asked after his remarks at The Atlantic’s Summit on the Economy held Thursday in Washington if DOL would honor the Tuesday […]

Mobile Devices Make Further Inroads Among Advisors

{April 28th, 2015} by Cyril Tuohy, cyril.tuohy@innfeedback.com

More financial advisors are using mobile devices than ever before to communicate with mutual funds, insurance carriers, broker/dealers and other financial service distributors. That’s according to a new report by Practical Perspectives, a consultancy based in Boxford, Mass. But the study also found that while most advisors rely on websites from financial service product providers […]

Life insurance: Your clients’ most important financial asset

{April 28th, 2015} by Van Mueller

Cash value life insurance is the most important financial asset available, and it will remain so for the foreseeable future. This is because it has the unique ability to combine safety, tax benefits, and leverage and longevity credits. Cash value life insurance is far more valuable than most people realize because it will help them […]

Helping An Annuity Beneficiary Understand Distribution Options

{April 28th, 2015} by Thomas H. Duncan, JD, CLU, ChFC Director, Nationwide Advanced Consulting Group

When the owner of a nonqualified deferred annuity dies and leaves the money to a nonspouse individual beneficiary, that beneficiary has several different distribution options: • Five-year Rule • Nonqualified Stretch • Annuitization Five-year Rule The five-year rule requires that the entire balance of the annuity be distributed within five years of the owner’s death. […]

A.M. Best Upgrades Ratings of Athene USA Group’s Members

{April 28th, 2015} by Business Wire

April 21, 2015 05:25 PM Eastern Daylight Time OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has upgraded the financial strength rating to A- (Excellent) from B++ (Good) and the issuer credit ratings (ICR) to “a-” from “bbb+” of the members of Athene USA Group (AUSAG). The outlook for all ratings has been revised to stable from positive. (See […]

Inflationary Effects On Seniors

{April 28th, 2015} by Mark Miller

There’s been no sign that inflation is heating up along with the economy, and that may tempt financial planners to be complacent about the inflation risk facing their retired clients. But the inflation rate experienced by seniors is higher than that of the overall economy. From 1985 to 2014, the Consumer Price Index ran 5.1 […]

John Hancock Goes For The Consumer Wellness Data

{April 28th, 2015} by Cyril Tuohy, cyril.tuohy@innfeedback.com

John Hancock earlier this month released with great fanfare a “whole new approach to life insurance” that lowers premiums for customers who live healthier lives by agreeing to submit data to a wellness company. In a news release, John Hancock touted the development as “reinventing the consumer life insurance experience.” While that may or may […]

Judge Seems Skeptical Of Government’s AIG Bailout Terms

{April 28th, 2015} by Paul Davidson, USA TODAY

WASHINGTON — A federal judge on Wednesday appeared openly skeptical toward the government’s claim that it had the authority to take a majority stake in American International Group(AIG) in exchange for a bailout at the height of the 2008 financial crisis. Judge Thomas Wheeler repeatedly challenged a government lawyer’s argument that the Federal Reserve’s decision […]

IRI responds to Sen. Warren’s investigation into industry’s annuity sales practices

{April 28th, 2015} by Daniel Williams

Annuities are an important option for many consumers as part of their holistic retirement plans, according to IRI. The annuity industry’s day got off to a bang with Sen. Elizabeth Warren sending letters to 15 carriers, asking for information about rewards and incentives geared towards annuity advisors. In the letters, Sen. Warren wrote, “I am […]

US Senator Warren probes perks offered to annuities brokers

{April 28th, 2015} by Sarah N. Lynch and editing by Emily Stephenson

(Reuters) – A high-profile U.S. senator said on Tuesday she launched an investigation into 15 major annuity providers amid concerns about the perks they offer to brokers who peddle the products to retirees. Massachusetts Democrat Elizabeth Warren said she is concerned about potential conflicts of interest. She asked companies including American International Group, Prudential Annuities […]

Elizabeth Warren Targets Cruises, iPads in Probe of Finance Perks

{April 28th, 2015} by Silla Brush

U.S. Senator Elizabeth Warren has a new target: the biggest sellers of annuities and the diamond-encrusted rings, iPads, stock options and cruises she says they’re using to entice brokers to sell their investments. Warren, the Massachusetts Democrat and prominent critic of Wall Street, sent letters Tuesday to the U.S.’s 15 largest annuity providers, her office […]

Are Longevity Annuities Ready For Prime Time?

{April 28th, 2015} by Donald Jay Korn

After getting a boost from a federal rule change last year, deferred income annuities have been gaining sharply in both assets and interest. Advisors should now understand what these products can do for clients — and what challenges they carry. The products are best understood in contrast with traditional immediate annuities, in which consumers give […]

Labor Chief Rejects Call to Extend Fiduciary Comment Time

{April 27th, 2015} by Arthur D. Postal, arthur.postal@innfeedback.com

WASHINGTON – The Labor Department has refused a request by 16 trade associations to lengthen the 75-day comment period for the agency’s proposal to revise its fiduciary standard. Labor Secretary Thomas E. Perez reiterated DOL’s previously stated comment guidelines last week, saying it was more than adequate. The comment period is 75 days, followed by […]

Judson Announced as Massachusetts’ New Insurance Commissioner

{April 27th, 2015} by N/A

Massachusetts’ Executive Office of Housing and Economic Development (EOHED) announced Monday that Daniel R. Judson has been appointed by Gov. Charlie Baker as the state’s new insurance commissioner. The appointment is effective immediately, according to EOHED. Judson succeeds Joseph Murphy who stepped down from the post in December to join Coverys, a Boston-based provider of […]

Annuities/LTC Combos More Than Double Sales

{April 27th, 2015} by Linda Koco, linda.koco@innfeedback.com

Annuities with long-term care (LTC) insurance benefit features sold nearly $320 million in total first year premium in 2013, according to new research conducted by Milliman and published by the Society of Actuaries (SOA). That is based on six such plans offered by five carriers. The $320 million total might seem like a drop in […]

Insurance company moving 1,500 employees

{April 27th, 2015} by Anthony Salamone, The Morning Call (Allentown, Pa.)

April 27–An insurance company ranked among the Top 20 employers in the Lehigh Valley will consolidate three offices to move into a three-story corporate regional office in Northampton County. Guardian Life Insurance Co. of America said Monday construction has begun on a new building on more than 30 acres off Route 512 in Hanover Township. […]

Do you know these 13 life insurance terms?

{April 27th, 2015} by Nichole Morford, Stephan R. Leimberg, Keith Buck, Bob Doyle

lf you’ve been selling life insurance for any time at all, you know that it’s an industry filled with jargon and acronyms. To be part of the insider’s club, you have to speak the language. Harder still, you have to be able to translate that language for clients who barely know what an annuity is, […]

AIG could fall 3.5% if Greenberg wins, Credit Suisse says

{April 27th, 2015} by Sonali Basak

(Bloomberg) — American International Group Inc. (AIG) could fall as much as 3.5 percent if former Chairman Maurice “Hank” Greenberg wins a lawsuit against the U.S. tied to the insurer’s 2008 bailout, Credit Suisse Group AG said. The estimate is based on Greenberg’s Starr International Co. having a 30 percent chance of winning a case […]

Symetra Reports First Quarter 2015 Results

{April 27th, 2015} by Business Wire

BELLEVUE, Wash.–(BUSINESS WIRE)– Symetra Financial Corporation (NYSE: SYA) today reported first quarter 2015 adjusted operating income1 of $42.7 million, or $0.37 per diluted share,1 compared with $65.7 million, or $0.56 per diluted share, for the first quarter of 2014. For the first quarter of 2015, net income was $38.8 million, or $0.33 per diluted share, […]

Symetra Financial CEO: Interest Rates ‘Moved Against Us’ in First Quarter

{April 27th, 2015} by Fran Matso Lysiak, senior associate editor, BestWeek: fran.lysiak@ambest.com

BELLEVUE, Wash. – Symetra Financial Corp.’s first-quarter profit fell 51% as the company’s chief executive officer said “interest rates moved against us in the first quarter and remained stubbornly low.” Net income declined to $38.8 million. Symetra experienced net realized losses of $6.2 million, compared with net gains of $20.7 million the same period a […]

Largest independent broker-dealers enjoy double-digit revenue growth

{April 26th, 2015} by Bruce Kelly

Despite lackluster sales in 2014 of commission-rich products such as variable annuities and nontraded REITs, the leading independent broker-dealers managed to squeeze out double-digit revenue growth in line with the broad market. The 25 largest independent broker-dealers recorded a 10.3% year-over-year increase in revenue, reporting $20.4 billion last year versus $18.5 billion in 2013, according […]

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