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Industry Articles

Insurance Groups Want NAIC Panel to Use Existing Tools to Designate Groupwide Supervisors for International Groups

{October 1st, 2014} by Thomas Harman

WASHINGTON – Insurance industry groups want existing National Association of Insurance Commissioners’ guidelines to be part of proposed amendments to the Model Holding Company Act that would have states be groupwide supervisors for large international insurance groups. The NAIC group solvency issues working group has exposed an initial draft, which is intended to become a […]

ING Life Reaches $15 Million Settlement in Revenue-Sharing Lawsuit

{October 1st, 2014} by Thomas Harman

HARTFORD, Conn. – The ING Life Insurance and Annuity Co. will pay $14.9 million to plaintiffs in compensatory funds and implement business practice changes to settle a class-action lawsuit, after a Connecticut federal judge’s ruling. Judge William G. Young of the U.S. District Court for the District of Connecticut issued a final approval to the […]

US Treasury Department-Issued FAQ on SIFI Process Outlines Three Criteria

{October 1st, 2014} by Jeff Jeffrey

WASHINGTON – The U.S. Treasury Department has released a 22-point description of the Financial Stability Oversight Council and the process it uses for designating non-bank financial institutions that should receive additional federal oversight. The Frequently Asked Questions document posted on Treasury’s website comes after months of criticism about the level of transparency at the FSOC. […]

Trial Begins in Maurice Greenberg’s Lawsuit Over AIG Bailout

{October 1st, 2014} by Jeff Jeffrey

WASHINGTON – Maurice “Hank” Greenberg will finally have his day in court in his multibillion-dollar lawsuit against the federal government that challenges the emergency bailout of American International Group Inc. during the financial crisis. The trial, which starts Sept. 29, is scheduled to last six weeks. Greenberg, the former head of AIG, has asked a […]

Loud and Proud — You’re an Agent: Blog

{October 1st, 2014} by Steven A. Morelli

If you are a life insurance agent, you should thank Don McNay. He is trying to make it safe to be one. He is not a lobbyist but he is bringing attention to the cause by simply calling himself a life insurance agent in a blog on Huffington Post. After more than 33 years of […]

The case for the child-owned life insurance policy

{September 30th, 2014} by Warren S. Hersch

For most producers who sell individual life insurance policies to families, the terms “policy owner,” “insured” and “beneficiary” call to mind “parent,” “parent” and (absent a spouse) “child,” in that order. It’s not every day that a child applies to be both policy owner and beneficiary of a contract in which the parent is merely […]

American National’s VP loses battle with cancer

{September 30th, 2014} by Lynette Gil

On September 22, 2014, Truitt Smith, vice president of qualified plans for American National Insurance Company, passed away after a battle with cancer, the Texas-based company announced on Thursday. Many in the insurance industry knew Truitt from his NAILBA speaking events. “He was a mainstay at NAILBA each year representing American National and was a […]

Fed to study insurance reg rules

{September 30th, 2014} by Arthur D. Postal

The Federal Reserve Board announced that it will be seeking detailed financial and other data from the insurance companies and insurers with thrifts it regulates as it starts the process of tailoring its regulatory metrics to coincide with its mandated role of overseeing them. Sources familiar with the Fed’s thinking said it will be a […]

National Life Starts Work On Solar Project

{September 30th, 2014} by The Associated Press

MONTPELIER, Vt. (AP) —Vermont and local officials in Montpelier are going to mark the start of construction on a 500-kilowatt solar array being built by the National Life Group insurance company on the edge of the city. Gov. Peter Shumlin and company officials are planning to attend a Tuesday morning event at the site. The […]

W&S Launches FIA With Goldman Proprietary Index

{September 29th, 2014} by Linda Koco

Insurance holding company Western & Southern Financial Group said in mid-September that it would soon issue a fixed index annuity (FIA) that includes a Goldman, Sachs & Co. proprietary index option. “What kind of FIA will this be?” industry people wanted to know. “And what is global investment firm Goldman doing in there with a […]

No big price increases for Lincoln National annuities

{September 29th, 2014} by Darla Mercado

Good news is ahead for customers and advisers who use Lincoln National Corp.’s annuities: CEO Dennis Glass doesn’t anticipate significant price increases for clients, and some price reductions may be coming up in the next couple of years. Mr. Glass spoke Monday about the state of the life insurance industry at the Insured Retirement Institute’s […]

Fed Study Shows Americans Slip in Financial Assets

{September 28th, 2014} by Steven A. Morelli

The poor are getting poorer and the middle is getting lesser, so it stands to reason that their money would be moving out of financial products. That is in fact happening, according to a report published in The Federal Reserve’s September bulletin. Cash value life insurance is among the assets that slipped in family ownership. […]

King Of Bonds Abruptly Leaves A Mutual Fund Giant He Built

{September 28th, 2014} by Matthew Goldstein

The bond king heard rumblings of a palace coup. William H. Gross, who helped build Pimco from scratch into a $2 trillion mutual fund behemoth over four decades, abruptly quit on Friday for a much smaller firm. The surprising exit came after Mr. Gross learned in recent weeks that top executives at Pimco and Allianz, […]

John Hancock refunds seniors $550,000 in alleged bilking

{September 26th, 2014} by Deirdre Fernandes

John Hancock Life Insurance Co. and a subsidiary will refund Massachusetts seniors $550,000 for its failure to properly supervise a salesman who persuaded elderly customers to take out a reverse mortgage and invest the money in risky variable annuities and life insurance policies, Attorney General Martha Coakley’s office said Friday. Under the settlement, John Hancock, […]

Wall St. Bankrolls Ex-Exec As He Sues Over AIG Bailout

{September 26th, 2014} by BEN PROTESS and AARON M. KESSLER

One might call it ”chutzpah,” as several irate lawmakers did, or ”rubbing salt in the wounds” of the American taxpayer. But to a fewWall Street financiers, a lawsuit that accuses the government of shortchanging theAmerican International Group in its 2008 bailout is something else: a promising investment in a cause they support. Maurice R. Greenberg, […]

42 reasons to love being an insurance agent

{September 26th, 2014} by Paul Wilson, Vanessa De La Rosa

Attendees of the 2014 Advisor Network Summit in Las Vegas were presented with a deluge of sales tips, sound bites and statistics. From inspirational quotes to regulatory predictions to nuts-and-bolts discussions about the products themselves, there was something for everyone. On the following pages, you’ll find a sampling of what was shared during the three […]

FIO Eyeing Captive Life Reinsurers

{September 26th, 2014} by Cyril Tuohy

The U.S. Treasury’s Federal Insurance Office has a message for the National Association of Insurance Commissioners on the issue of captive life reinsurance: We’re keeping an eye on you. “FIO will continue to monitor and report on regulatory treatment of this issue,” it said in its second-annual wide-ranging report on the state of the insurance […]

7 things you need to know about term life insurance

{September 26th, 2014} by Stephan R. Leimberg, Robert J. Doyle Jr., Keith A. Buck

The two principal characteristics of term insurance are: the insured must die for any benefits to be paid and, by definition, the contract expires at the end of the term. Stated more specifically, a term life insurance policy promises to pay a death benefit to a beneficiary only if the insured dies during a specified […]

Prudential takes over $3.1B in pension liability from Motorola

{September 25th, 2014} by Laura Davison, Bloomberg

(Bloomberg) — Motorola Solutions Inc. plans to reduce its pension obligations by $4.2 billion as it transfers liabilities to Prudential Financial Inc. and offers some employees lump-sum payments. Prudential, the No. 2 U.S. life insurer, will assume responsibility for future pension payments to about 30,000 Motorola Solutions retirees, the Schaumburg, Illinois-based maker of two-way radios […]

SEC’s investigation into Pimco could ripple through ETF, fixed income markets

{September 25th, 2014} by Trevor Hunnicutt

(Bloomberg News) An SEC investigation into how Pimco, the world’s largest bond fund manager, valued some securities in its Total Return Bond ETF could spill over into the expanding universe of funds that invest in hard-to-value assets, according to industry watchers. Bill Gross, who manages the largest bond mutual fund and the second largest actively […]

Putting an end to elder financial abuse

{September 25th, 2014} by Dale Brown

In our ongoing dialogue with financial advisers, financial services firm executives and regulators across the country, one theme my colleagues and I at the Financial Services Institute have heard loud and clear is a shared, profound concern over the continued prevalence of elder financial abuse. With baby boomers advancing further into retirement and the number […]

LPL to weigh in on tax reform with new federal policy push

{September 25th, 2014} by Mark Schoeff Jr.

With Capitol Hill battles looming next year over broad tax reform and skirmishes related to the financial reform law continuing, LPL Financial wanted to have its own boots on the ground in Washington. The independent broker-dealer recently appointed Nicole S. Petrosino as vice president and head of federal government relations to establish the firm’s first […]

L.A. Bikur Cholim head’s role revealed in annuities scheme

{September 25th, 2014} by Jared Sichel

U.S. Securities and Exchange Commission headquarters in Washington, D.C. Image via Wikipedia Although the final legal shoe appears to have dropped in an $850,000 settlement between broker Michael Horowitz and the Securities and Exchange Commission (SEC) in an illegal $80 million variable annuities scheme, the effects of the fraud are still being felt in Los […]

Should buying life insurance be like buying a new iPhone? OPINION

{September 25th, 2014} by Bill Coffin

On September 19, the new iPhone came out, and my family, probably against its better collective wisdom, decided that was the day for us to upgrade all of our mobile phones. It did not go well. Not necessarily because we tried to do it on National Freak Out Over the New iPhone Day, but because […]

Associate adviser brings growth to practice

{September 25th, 2014} by Pamela Koehler-Zastrow

Many financial advisors feel comfortable hiring support staff for their practice. They understand the importance of an office manager or administrative assistance. However, when it comes to hiring a junior or associate representative, many advisors are not as versed on sourcing, interviewing or utilizing this type of team member. Bill S., owner of a wealth […]

Why I hate false advertising (and Ken Fisher ads) part II

{September 25th, 2014} by Michael D. Anderson

In my first opinion article, I laid out the premise that investment adviser Ken Fisher has forsaken some basic rules of advertising and good competition in his ‘I hate annuities” ad campaign. In this, the second part of my opinion article as promised, I provide another example of his investment style and philosophy that has […]

Words That Are Creating Buzz In The Annuity World

{September 25th, 2014} by Linda Koco

Certain buzz words keep coming up in this year’s annuity discussions. A few examples appear below. As the list unfolds, brace for a sprinkling of “investmentese,” or language that derives from the world of securities and investments. Also prepare for a dusting of “computerese,” or language that glimmers with a digital aura. The industry is […]

Allianz Life Product Latest Addition To The Survivorship Market

{September 25th, 2014} by Cyril Tuohy

Allianz Life said it has moved further into the survivorship market with the announcement of a fixed index universal life insurance policy that provides death benefits for two lives on one policy. The product, branded as Allianz Life Pro+ Survivor, is designed for consumers looking for affordable, flexible premium options and comes with chronic illness […]

Who Is Winning The Advice Wars?

{September 25th, 2014} by Cyril Tuohy

For the Institute of the Fiduciary Standard, its “Fiduciary September” event was one to remember, based on its notable speakers’ consistent admissions that fiduciary advocates are losing the battle of attrition in the advice wars. Knut A. Rostad, president of the Institute, said fiduciary advocates had “simply fallen short” in terms of making their case […]

Founding Fathers Favored Annuities

{September 25th, 2014} by Joe Stark

Present-day annuities have been around for a few decades. However, the concept of an income stream paying out into retirement dates all the way back to the Roman Empire, when soldiers received annuities as compensation for military service. During the Middle Ages, feudal kings turned to annuities to cover the cost of wars. Annuities crossed […]

The Bond-Zombie Apocalypse

{September 24th, 2014} by Frank Maselli

It’s often said that experience is the best teacher. But if you can learn from someone else’s experience, the tuition is often a lot cheaper, and in this case, far less agonizing. So, allow me to share a horror story with you. We are now facing an economic situation similar to what we saw 20 […]

Barclays to pay $15M over compliance failures

{September 24th, 2014} by Mason Braswell

Barclays Capital Inc. has agreed to pay $15 million to settle charges that it failed to ensure proper compliance with its own rules and securities laws following its acquisition of Lehman Brothers’ advisory division in 2008. The firm, which had previously operated primarily as a broker-dealer, failed to oversee the growth of its advisory unit […]

Treasury, IRS Rules On In-Plan Annuities

{September 24th, 2014} by Rebecca Moore

On July 1, the Treasury Department and the Internal Revenue Service (IRS) issued final rules to make longevity annuities more accessible to the defined contribution (DC) and individual retirement account (IRA) markets. In short, the final rules ease certain minimum distribution requirements that have made it difficult for retirees to purchase and hold longevity annuity […]

Kenmore financial advisor sentenced to five years in prison for fraud

{September 24th, 2014} by Briana Gerdeman

A long-time Kenmore financial advisor was sentenced on Sept. 12 in U.S. District Court in Seattle to five years in prison for mail fraud and Social Security Number fraud, announced U.S. Attorney Jenny A. Durkan. Edward H. Kahler, 65, was the owner of Key Resources, a Kenmore retirement consulting company that sold annuities and life […]

A.M. Best Affirms Ratings of StanCorp Financial Group, Inc. and its Subsidiaries

{September 24th, 2014} by Best's News Service

Oldwick – A.M. Best has affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit ratings (ICR) of “a” of the insurance subsidiaries of StanCorp Financial Group, Inc. (StanCorp) [NYSE: SFG]: Standard Insurance Company and The Standard Life Insurance Company of New York. Collectively, the group is referred to as Standard Insurance […]

12 worst financial advisors in America: 2014

{September 24th, 2014} by Dan Berman, ThinkAdvisor

It’s been a year since we picked though the landscape of miscreant financial advisors to choose the worst among them. Unfortunately, a recent Google search turned up all too many that served themselves rather than their clients. The list of Ponzi schemers, scammers and those who just flat out stole investors’ money seems endless. Reading […]

Fixed Annuity Transactions Soar In First Half Of 2014

{September 24th, 2014} by Linda Koco

First-half annuity sales numbers from the Depository Trust & Clearing Corp. (DTCC) point to strong growth for fixed annuities but modest growth for variable annuities. That might be expected, considering that other industry researchers have reported similar results. But there’s a difference. The DTCC numbers are based on actual annuity transactions, not a survey of […]

All Insurance Companies Writing Life and Annuities in the State of Iowa

{September 24th, 2014} by Nick Gerhart, Iowa Insurance Commissioner

Bulletin 14-02 To: All Insurance Companies Writing Life and Annuities in the State of Iowa From: Nick Gerhart, Iowa Insurance Commissioner RE: Insurance Marketing Organizations Date: September 15, 2014 The Iowa Insurance Division (the Division) has observed an increase in misleading advertising by producers and insurance marketing organizations (IMOs) under contract with insurance companies. IMOs […]

Iowa Eyes Misleading Indexed Annuity Ads

{September 24th, 2014} by Linda Koco

Insurance marketing organizations (IMOs) and similar third-party marketers need to toe the line where advertising is concerned, according to regulators in Iowa and Kansas. In Iowa, some troublesome ads involve indexed annuities. In Kansas, the focus is on life and annuity advertising in general. In both cases, the message is that the regulators intend to […]

New York eyes IUL product

{September 24th, 2014} by Arthur D. Postal

IUL marketing — and the accuracy of claims within — have come under the eye of the NYDFS. The life insurance industry is split over the accuracy of claims about the value of indexed universal life insurance (IUL) and whether the illustrations used to market such products provide adequate data as to the potential risk […]

New York probes universal-life sales practices

{September 23rd, 2014} by Leslie Scism

New York’s top financial watchdog has launched an investigation into sales practices surrounding the hottest new product in life insurance, according to a letter from the regulator’s office reviewed by The Wall Street Journal. New York Financial Services Superintendent Benjamin Lawsky is concerned that some insurance companies may be giving buyers overly optimistic projections of […]

Is IUL In Muddy Water Now? OPINION

{September 23rd, 2014} by Linda Koco

Iowa is not the only state in which insurance officials are tracking sales practices tied to indexed insurance products. New York insurance regulators are reportedly sniffing around indexed sales practices, too. In Iowa’s case, the object of scrutiny is advertising of fixed indexed annuities. In New York’s case, the eagle eye is on indexed universal […]

Life Insurance Industry Offers Competing Plans for Future IUL Illustration to NAIC Panel

{September 23rd, 2014} by Thomas Harman

WASHINGTON – The American Council of Life Insurers and a partnership of four major life insurers have offered a National Association of Insurance Commissioners’ panel competing plans on how companies should market indexed universal life insurance products to consumers. The insurers are MetLife, New York Life, Northwestern Mutual and OneAmerica. The plans were put up […]

McRaith: Insurance Industry ‘Inextricably Connected’ to Global Capital Markets

{September 23rd, 2014} by Jeff Jeffrey

WASHINGTON – Federal Insurance Office Director Michael McRaith pushed back against the oft-cited claim the insurance business does not pose systemic risks to the U.S. financial system and should not be regulated as though it carries that level of risk. Speaking before a packed house at the National Association of Mutual Insurance Companies annual conference […]

What’s hurting annuity sales?

{September 23rd, 2014} by Marlene Y. Satter

Annuity sales are at their highest levels in years, but they could be even better. So says Fixed Annuity Brandscape, a just-released Market Strategies International/Cogent report that looks at the reasons given by insurance agents and financial advisors for not selling fixed and fixed indexed annuities. More than half of all insurance agents and roughly […]

SEC plans to hand out whopping $30 million whistleblower award

{September 23rd, 2014} by Melanie Waddell

The Securities and Exchange Commission announced Monday that it expects to award a whistleblower more than $30 million for providing key original information that led to a successful SEC enforcement action. The award will be the largest made by the SEC’s whistleblower program to date and the fourth award to a whistleblower living in a […]

5 ways to compete with the new industry challengers

{September 23rd, 2014} by Denise Garth

Google and Amazon may not sell insurance (yet), but they still pose a competitive threat to the insurance industry. (AP/Jens Meyer) It’s a new dawn … It’s a new day … It’s a new life … For me … And I’m feeling good. These lyrics from the song “Feeling Good” were composed by English songwriters […]

Stock performance of the top 10 life insurers: Sept. 15-19

{September 23rd, 2014} by Warren S. Hersch

In this second installment, LifeHealthPro reviews the stock performance of 10 leading publicly held life insurers — AIG, MetLife, Prudential Financial, among others — and provides context by highlighted key macroeconomic developments during the week. The 10 companies are the same as those featured in an August 21 LifeHealthPro story listing the top 10 life […]

Prudential’s Kent Sluyter: Life’s Challenge Is Relevance

{September 22nd, 2014} by Bestwire

OLDWICK, N.J. – Kent Sluyter, chief executive officer for Prudential Individual Life Insurance, said insurers and producers must focus on showing that life products can be relevant to consumer needs at multiple life stages. Sluyter spoke with A.M.BestTV as part of Life Insurance Awareness Month. View the video version of this interview at: http://www.ambest.com/v.asp?v=sluyter914 Q. […]

A.M. Best Affirms Ratings of Ameriprise Financial, Inc. and Its Subsidiaries

{September 22nd, 2014} by Best's News Service

Oldwick – A.M. Best has affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of “aa-” of RiverSource Life Insurance Company (Minneapolis, MN) and its wholly owned subsidiary, RiverSource Life Insurance Company of New York (Albany, NY). A.M. Best also has affirmed the FSR of A (Excellent) and ICRs of […]

Finra puts onus on clients to find broker recruitment incentives

{September 22nd, 2014} by Mark Schoeff Jr.

New proposal would make discovering bonuses for moving a do-it-yourself proposition for investors A revised Finra proposal on broker compensation when switching firms puts the responsibility on clients to determine what kind of recruiting incentives their financial advisers received. The board of the Financial Industry Regulatory Authority Inc., the industry-funded broker regulator, on Friday authorized […]

IRI and Beacon Research: Second-Quarter US Sales of Fixed Annuities Up 41.6%

{September 22nd, 2014} by Fran Matso Lysiak

WASHINGTON – Second-quarter 2014 total sales of fixed annuities in the United States grew to $24.3 billion, a 41.6% gain from the same period a year ago, supported by sales of indexed annuities, according to the Insured Retirement Institute and Beacon Research. By company, Allianz Life Insurance Company of North America, a unit of Germany’s […]

Modern Families Are The Next Frontier For Financial Professionals

{September 22nd, 2014} by N/A

NEW YORK – September 22, 2014 – Despite the complex financial situations of today’s modern families, a surprising number have never used a financial professional (57%) and many are using non-professional resources, such as family members, significant others, friends, or colleagues to help them plan for their financial future, according to the new LoveFamilyMoney study* […]

Insurer Claims ‘Elaborate Scheme’ In Alleged Fake Death

{September 22nd, 2014} by Steve Patterson

An insurance company fighting the son of a Jacksonville businessman reported dead in Venezuela told a federal judge it uncovered “an orchestrated, elaborate scheme to fake … [a] death and commit insurance fraud.” Jose Lantigua, who owned two Circle K Furniture stores, “fabricated a story of his death complete with bribes, collusive statements and forged documents,” […]

Goodbye Cleavers, hello modern family

{September 22nd, 2014} by Liz Skinner

The famous TV family of the 1950s, the Cleavers, have faded into history, so it’s time for advisers to find a way to help America’s modern family. Today, only 20% of Americans are part of a “traditional” family like the one portrayed in the show “Leave it to Beaver.” A new survey suggests there’s a […]

Word To Women: Get Social Security Advice Now Or Pay Dearly Later

{September 19th, 2014} by Cyril Tuohy

Women who don’t work with a financial advisor are nearly three times as likely to say their Social Security payment was less than expected, according to a survey commissioned by the Nationwide Financial Retirement Institute. The survey found that 37 percent of women working with an advisor said they received good advice regarding Social Security, […]

Don’t Discount Millennials’ Need For Life Insurance

{September 19th, 2014} by Denise Flannery

In the life insurance industry, where the average advisor is 58 years old, there is a perception that millennials (born between 1978 and 1995) are too young and in too much debt to even begin talking about life insurance. But, the reality is quite different. Many in this generation are making a significant amount of […]

AIG’s head of life insurance quits

{September 19th, 2014} by Arthur D. Postal

Jay S. Wintrob, president and CEO of American International Group Life & Retirement, is leaving the company after missing out on becoming CEO. AIG also announced that Michael R. Cowan, executive vice president and chief administrative officer, will retire from the company after nearly five years of service. Wintrob apparently left after his rival to […]

Jay Wintrob resigns as CEO of AIG Life and Retirement

{September 19th, 2014} by Bruce Kelly

After failing to ascend to the top of American International Group Inc., Jay Wintrob is stepping down as chief executive of AIG Life and Retirement. Among his various responsibilities, Mr. Wintrob supervised Erica McGinnis, who a year ago become the CEO of the AIG Advisor Group network of broker-dealers after Larry Roth resigned to work […]

Your official life insurance M&A outlook for 2015

{September 19th, 2014} by Lynette Gil

It might not be the end of 2014 yet, but we’re already looking back at the mergers and acquisitions in the insurance industry this year and looking toward what 2015 might bring. A report back in March of 2014 from Deloitte found that M&A activity in the insurance industry had cooled down significantly compared to […]

This week’s stories that financial advisers can’t miss

{September 19th, 2014} by Andrew Leigh

A scandalous lawsuit, new data on the growth of independent firms, and the rest of this week’s must-reads This week, financial advisers ate up stories about a salacious lawsuit and a golden era for independent advisers. They also took the plunge and attempted to unravel the complex web of Nicholas Schorsch’s many companies, as well […]

Rule proposal for new hire background checks moving to SEC

{September 19th, 2014} by Mark Schoeff Jr.

Finra is pushing ahead with a rule-change that would require brokerage firms to vet new hires more thoroughly. The regulatory agency sent a rule to the Securities and Exchange Commission on Wednesday that would require brokers to put in place written procedures to verify the accuracy of information contained in an applicant’s U4 form, the […]

The top 10 life insurance sales leaders for Q2 2014

{September 19th, 2014} by Nichole Morford

With nearly 10 percent market share, MetLife led all life insurers for premiums written in Q2 of this year, bringing in $3.89 billion, a 1.7 percent increase over their sales in the second quarter of last year. This modest increase was in keeping with the industry as a whole, which saw 1.8 percent sales growth […]

New CEO Hancock Puts Stamp on AIG Management in Shake-Up

{September 19th, 2014} by Zachary Tracer

American International Group Inc. named Kevin Hogan to lead its main life insurance business, putting him in charge of offerings for individuals, as new Chief Executive Officer Peter Hancock shakes up management. Hogan takes on the duties from life-unit CEO Jay Wintrob, who worked at AIG for about 15 years and is departing after being […]

Western & Southern indexed annuity to offer Goldman Sachs index

{September 19th, 2014} by RIJ Publishing LLC

Western & Southern Financial Group and Goldman, Sachs & Co. (Goldman Sachs) are collaborating to offer a Goldman Sachs proprietary index in a new fixed indexed annuity issued by Western & Southern member insurance companies set to launch this fall. “The Goldman Sachs index will provide a distinctive allocation option alongside more traditional interest crediting […]

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