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Industry Articles

Iowa Eyes Misleading Indexed Annuity Ads

{September 17th, 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 […]

SEC’s uniform fiduciary rule could ‘haunt’ advisors

{September 17th, 2014} by Melanie Waddell

Creating a uniform fiduciary duty rule for brokers and advisors is a “deeply flawed” concept, and the Securities and Exchange Commission should instead create a “generalized obligation” for brokers that requires them to act in their clients’ best interest, Robert Plaze, the former deputy director of the agency’s Division of Investment Management, said Tuesday. “To […]

Wells Fargo pushes insurers to lower commissions on indexed annuities

{September 17th, 2014} by Darla Mercado

Wells Fargo Advisors is pushing for lower commissions and shorter surrender schedules on indexed annuities — a move that is likely to garner a lot of attention among insurers and broker-dealers. On Monday, Wells Fargo kicked off its newly updated annuity platform to offer indexed annuities, which are fixed annuities that credit a minimum guaranteed […]

MetLife Hopes Campaign Will Help Change Perceptions Of Life Insurance

{September 17th, 2014} by Stuart Elliott

A new campaign seeks to accentuate the positive about life insurance, promoting it affirmatively as a way to “live for” the loved ones in your life rather than taking a downbeat tack with terms like “death benefit” or “beneficiary.” The campaign, now getting underway, is from MetLife and comes as the life insurance industry spends […]

Allianz Life Launches Allianz Life Pro+ Survivor Fixed Index Universal Life Insurance Policy

{September 16th, 2014} by Business Wire

  New product offers cost-effective death benefit protection for two lives plus cash value accumulation MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz Life®) today announced the launch of Allianz Life Pro+ SurvivorSM Fixed Index Universal Life Insurance Policy, now available in 43 states. Allianz Life Pro+ Survivor is designed for consumers seeking an […]

IRI Recognizes Importance of Financial Advice

{September 16th, 2014} by Targeted News Service

WASHINGTON, Sept. 15 –The Insured Retirement Institute issued the following news release: The Insured Retirement Institute (IRI) today issued a statement from IRI President and CEO Cathy Weatherford to recognize National Financial Advisor Week and the important part financial advisors have in preparing Americans for a financially secure retirement. IRI is a sponsor of this […]

An Antidote To Advisors-Gone-Wrong: Opinion

{September 16th, 2014} by Linda Koco

Wouldn’t you know it? Just as I was reading about the inaugural National Financial Advisor Week that is getting underway this week in Times Square, along came some rain on the parade. The event is designed to celebrate “the excellent work financial advisors do for investors.” A sunny hello to that. But then there was […]

Financial adviser sentenced to five years | US District Court

{September 16th, 2014} by N/A

A long-time Kenmore, Washington financial adviser was sentenced today 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, Wash. retirement consulting company which sold annuities and life […]

10 things to know about whole life insurance

{September 16th, 2014} by Stephan R. Leimberg, Robert J. Doyle, Jr., Keith A. Buck

Whole life insurance, as the name implies, is a contract designed to provide protection over the insured’s entire lifetime. There are many types of whole life policies, but the oldest and still the most common type of whole life policy is ordinary level premium whole life insurance, or simply ordinary life. This form of insurance […]

Andrew Madoff leaves more than $15 million to family, fiancée

{September 16th, 2014} by Chris Dolmetsch

(Bloomberg) — Andrew Madoff, the son of convicted Ponzi schemer Bernard Madoff, left more than $15 million in property to his children, wife and fiancée in his will following his death from lymphoma this month. Andrew Madoff listed $11 million in personal property and $4.5 million in improved real property in his will, which was […]

How the insurance industry is being disrupted

{September 16th, 2014} by Lynette Gil

Disrupt: n. Disturbance or problems which interrupt an event, activity or process. – Oxford Dictionaries In an age where everything and everyone is being “disrupted,” where even TechCrunch, a technology news site, has its own set of conference-type events in different countries called TechCrunch Disrupt (recently featured on the HBO TV show Silicon Valley), and […]

Two-thirds of small biz owners plan to retire within 10 years

{September 16th, 2014} by Warren S. Hersch

New research from Asset Life Settlements points to an increase in the supply of corporate-owned life insurance (COLI) policies brokered in the secondary market due to business owners seeking to cash out and retire. “The improving economy and financial performance of small businesses is the driving force behind the recent spike in the sale of […]

The future of insurance comes down to these 4 things

{September 16th, 2014} by Bill Coffin

From September 10-14, a group of young (ages 30-50) business and financial leaders gathered in Montreaux, Switzerland at the fifth annual meeting of the G-20Y summit. The mission? To discuss sustainable prosperity in the face of a world increasingly at risk. The summit covered ten issues specifically in a series of structured discussions from which […]

Allstate bets on timber, property to boost annuity returns

{September 16th, 2014} by Zachary Tracer

(Bloomberg) — Allstate Corp. is betting on timber and real estate to boost returns at a struggling annuity unit. “We do need to figure out what we do with our annuity business,” Chief Executive Officer Tom Wilson, said at an investor presentation today. “It’s still not where we’d like it to be on a long-term […]

5 ways to sell life insurance to millennials

{September 15th, 2014} by Lynette Gil

“To sell or not to sell life insurance to millennials, that is the question” – from William Shakespeare’s newly discovered blog series, Two Noble Insurancemen. OK, that’s not a real blog by the English renaissance playwright and poet. And this should not be a question you have to ask yourself. Click here to read…

Nationwide Reorganizes Leadership, Units to Implement Brand Consolidation

{September 15th, 2014} by Michael Buck

COLUMBUS, Ohio – Nationwide Mutual Insurance Co. is reorganizing parts of its leadership and unit structure as it works to implement its brand consolidation strategy, according to a company statement. The company is focusing its organization around three primary business units: Nationwide Property & Casualty Agency Operations; Nationwide Direct and Member Solutions; and Nationwide Financial. […]

AIG’s Deremo: Consumers Need More Useful Life Products

{September 15th, 2014} by Lee McDonald

OLDWICK, N.J. – John Deremo, American International Group Inc.’s head of distribution for life products, said longer life spans and limited savings mean Americans will require life products that perform multiple functions. Deremo talked to A.M.BestTV as part of special coverage of Life Insurance Awareness Month. View the video version of this interview at: http://www.ambest.com/v.asp?v=deremo914 […]

NAIFA’s message to Congress: Leave our products alone

{September 15th, 2014} by Warren S. Hersch

Congressional efforts to secure more than $3.2 trillion in new revenue by rolling back financial services industry tax benefits could be realized if advisors don’t make their voices heard on Capitol Hill next year. That was the overriding theme of a Legislative Forum at the 2014 Career Conference and Annual Meeting of the National Association […]

State Roundup

{September 15th, 2014} by Pam Heinrich

A Brief History of the NAIC Model Laws Affecting Fixed Annuities In the 143 years since the National Association of Insurance Commissioners (NAIC) passed its very first model law in 1871 (related to the standardization of fire insurance policies), the NAIC has adopted some 193 different model laws or regulations, along with an additional 16 […]

LICENSED TO SELL… AND STAY COMPLIANT!

{September 15th, 2014} by Kim O'Brien

MESSAGE FROM THE PRESIDENT There have been a number of significant developments in state actions against sellers of annuities that provide great insight into what regulators and prosecutors are watching these days. In the last issue of Annuity Outlook Magazine, we spoke about the “State of the States” on these same pages and provided a […]

Principal Financial joins Macquarie in CMBS bet as sales surge

{September 15th, 2014} by Madeline McMahon and Sarah Mulholland

(Bloomberg) — Principal Financial Group Inc., the provider of life insurance and retirement products, is joining with Macquarie Group Ltd. in a venture that will make loans and package them into bonds. The real estate arm of Principal Financial will underwrite, close and service the loans while Sydney-based Macquarie will provide funding, the companies said […]

Insurers Mine Data For Better Underwriting, Deeper Client Relationships

{September 15th, 2014} by Cyril Tuohy

Despite many life insurers taking a “backseat approach” to mining large data sets, carriers can profit from big data by using more advanced underwriting analytics and by deepening the relationship with customers, a new report has found. Analytical tools have helped some global insurance carriers increase the number of purchases after a prospect begins an […]

Life insurers’ earnings and ROE dip, but surplus rises in Q2

{September 15th, 2014} by Warren S. Hersch

Life insurers’ statutory earnings, though still positive, fell by 16.5 percent in the second quarter of 2014 compared to the year-ago period, according to a new report. ALIRT Insurance Research discloses this finding in a study that examines the performance of life insurers during the first six months of 2014. The research also compares industry […]

Nationwide Names Executives, Divisions Under One-Brand Strategy

{September 12th, 2014} by N/A

Nationwide Mutual Insurance Co. has realigned its internal structure and named new division leaders, one week after announcing it is bringing all of its product lines under the single brand, Nationwide. Last week Nationwide Mutual Insurance Co. said it will use the Nationwide brand for all of its products and subsidiaries and drop the use […]

Top-earning broker-dealer CEOs

{September 12th, 2014} by Trevor Hunnicutt

What goes up sometimes also goes back down Data on executive compensation at major Wall Street banks and broker/dealers was released this week by SNL Financial. The data looks at top compensated chief executive officers at firms that are publicly traded. We’ve excerpted the chief executives running firms that manage platforms used by retail financial […]

Allstate Bets on Timber, Property to Help Annuity Result

{September 12th, 2014} by Zachary Tracer

Allstate Corp. (ALL) is betting on timber and real estate to boost returns at a struggling annuity unit. “We do need to figure out what we do with our annuity business,” Chief Executive Officer Tom Wilson, said at an investor presentation today. “It’s still not where we’d like it to be on a long-term basis, […]

Don’t Let Clients Fall Into A Beneficiary Form Trap

{September 12th, 2014} by Linda Koco

Filling out the beneficiary form for annuities might seem simple. Just fill in the names and move on. But Jeffrey Levine, an individual retirement account (IRA) consultant with Ed Slott and Co., said those simple-looking forms might harbor traps for agents and advisors, and ultimately their clients. One trap pops up if the client fails […]

Insurance broker AmeriLife taps Evercore for sale -sources

{September 12th, 2014} by Greg Roumeliotis and Mike Stone

(Reuters) – Insurance marketing and brokerage firm AmeriLife Group LLC is exploring a sale that could fetch as much as $500 million, and has hired investment bank Evercore Partners Inc to assist with that effort, people familiar with the matter said on Friday. Founded in 1971, AmeriLife develops, markets and sells annuity, life and health […]

Fla. Pastor Gets Prison For Insurance Scheme

{September 12th, 2014} by The Associated Press

RICHMOND, Va. (AP) — A Florida pastor has been sentenced to more than five years in prison after pleading guilty inVirginia to a life insurance scheme. The government says 46-year-old Nathaniel A. McNeil’s scheme victimized more than 1,200 people. U.S. Attorney Dana J. Boente (BEN’-tay) says McNeil was sentenced Friday to 68 months in prison […]

How millennials think about insurance

{September 12th, 2014} by Lynette Gil

In a perfect world, we would all understand each other with a single look or word. In the real world, we’re all a cluster of experiences that make us unique, a universe in our minds. Millennials are no different. Click here to read…

Finra plans to revive controversial broker compensation proposal

{September 12th, 2014} by Mark Schoeff Jr.

Finra will revive a proposal next week that would require brokers to disclose recruitment incentives to clients who follow them to their new firms. On Thursday, the Financial Industry Regulatory Authority Inc. announced the rule would be on the agenda for its Sept. 19 board meeting. In June, the industry-funded broker-dealer regulator withdrew the rule […]

Society of Actuaries Names Craig Reynolds as President-Elect

{September 11th, 2014} by PR Newswire

PR Newswire SCHAUMBURG, Ill., Sept. 11, 2014 SCHAUMBURG, Ill., Sept. 11, 2014 /PRNewswire-USNewswire/ — The Society of Actuaries (SOA) announced the results of its member voting, with Craig W. Reynolds, FSA, MAAA, selected as President of the SOA for the 2015-2016 term. Reynolds will serve as President-Elect during the association’s 2014-2015 year. Based in Seattle, […]

Response to Andrew Silva, Financial Planning

{September 11th, 2014} by NAFA Response

NAFA Response to Annuity Sales Up, But Should They Be? Financial Planning By Andrew Pavia September 10, 2014   Annuity sales are up, even as some experts question whether certain products make sense for clients in a low-interest rate environment.   In the second quarter, industry-wide annuity sales reached the highest level in three years, […]

Does The Industry Have A Tax-Expenditure Or A Tax-Revenue Problem?

{September 11th, 2014} by Cyril Tuohy

The issue of insurance industry tax expenditures figured high on the agenda of the National Association of Insurance and Financial Advisors (NAIFA), which met in San Diego this week for its annual convention. Whether the government eventually manages to roll back tax exemptions across the board or pick off insurance-related pieces from the expenditures list […]

MetLife hopes campaign will help change perceptions of life insurance

{September 11th, 2014} by Lynette Gil

Who do you live for? MetLife has launched a social media only marketing campaign in which they ask random people in the street just that. The company is trying to raise awareness about the importance of having life insurance by focusing on the positive aspect of family and life, instead of the traditional way of […]

8 questions to help you choose the perfect annuity for your client

{September 11th, 2014} by David Shields

Imagine walking into your local sporting goods store and telling the salesman, “Give me your best golf club.” He would inevitably look confused and then ask a myriad of questions: What’s your budget? How far do you want to hit the ball? Do you need a putter? A driver? A sand wedge? An iron? Are […]

Insurance Fraud Chief Appeals 20-Year Prison Term

{September 11th, 2014} by Targeted News Service

MIAMI (AP) — The man who masterminded an$800 millionFlorida insurance scam that fleeced more than 30,000 investors is appealing his 20-year prison term. The attorney for 64-year-oldJoel Steinger filed notice of appeal Wednesday inMiami federal court. Steinger was chief executive of the now-defunctMutual Benefits Corp., which bought life insurance policies from people with AIDS, cancer […]

Insurance broker AmeriLife taps Evercore for sale -sources

{September 10th, 2014} by GREG ROUMELIOTIS AND MIKE STONE

NEW YORK, Sept 5 (Reuters) – Insurance marketing and brokerage firm AmeriLife Group LLC is exploring a sale that could fetch as much as $500 million, and has hired investment bank Evercore Partners Inc to assist with that effort, people familiar with the matter said on Friday. Founded in 1971, AmeriLife develops, markets and sells […]

Florida Proposes Rule for Annuity and Life Insurance Surrender Disclosures

{September 10th, 2014} by Ann Young Black, Kelly Cruz-Brown, Steven Kass

On September 4, the Florida Department of Financial Services (the “Department”) published a Notice of Rule Development for Proposed Rule 69B-215.090, Florida Administrative Code (the “Proposed Rule”) setting out disclosure requirements for certain annuity and life insurance policy surrenders. This Proposed Rule implements Section 627.4553, Florida Statutes, which applies to surrenders of cash value annuities […]

How to overcome your client’s annuity misconceptions

{September 10th, 2014} by Rich Lane

As a broker, you are poised to profoundly affect your client’s financial decisions by bringing them sound advice and recommending the best vehicles for their hard-earned retirement dollars. Many brokers have found that recommending a fixed annuity can help clients gain an advantage and maintain peace of mind leading up to and during retirement. Many […]

MetLife’s too-big-to-fail fight

{September 10th, 2014} by Emily Holbrook

MetLife CEO Steve Kandarian says “MetLife is not systemically important under the Dodd-Frank Act criteria. In fact, MetLife has served as a source of financial strength and stability during times of economic distress, including the 2008 financial crisis.”Whether those arguments hold up when MetLife contests the designation remains to be seen. The company has one […]

Future Of Advice Lies In Translating Needs Into Strategy

{September 10th, 2014} by Cyril Tuohy

The future of financial advice lies not with accurate readings of the proverbial crystal ball, nor with nimbly stepping in and out of investment positions. And in no case does it lie with dumping a dictionary worth of investment and market jargon on a client. No, the future of advice lies with the valuable exercise […]

Life Insurance Activity Up 0.6%

{September 10th, 2014} by N/A

Braintree, MA. (September 10, 2014) — U.S. application activity for individually underwritten life insurance rose +0.6% in August year-over-year, all ages combined, according to the MIB Life Index. Modest growth in the composite Index for a second consecutive month may be cause for cautious optimism against a backdrop of five prior consecutive quarterly losses. The […]

How financial services firms will use social media in 2015

{September 10th, 2014} by Norah Denley

In 2013, LIMRA asked financial services firms about their future plans for social media. For the most part, plans emphasized growing the community and learning more about how to best use the different networks. What a difference a year makes. A 2014 study of 54 financial services companies reveals much more awareness of social media […]

SEC Still Looking At Fiduciary Rule Options: Opinion

{September 10th, 2014} by Linda Koco

In Senate testimony this week, the chair of the Securities and Exchange Commission (SEC) made clear that the SEC is not yet clear on the final direction the agency will take on proposals to expand the fiduciary standard to the retail investment advice community. While a clear/not-yet-clear signal may seem to be too fuzzy to […]

Agent Steals More Than $100K From California Businesses

{September 10th, 2014} by N/A

Isidro Santillan, 53, of Pacoima, Calif., has been arrested and charged with 13 counts of grand theft and three counts of commercial burglary. Santillan allegedly stole more than $100,000 by selling insurance policies and bonds to licensed contractors and not forwarding the premium to insurance companies. Investigators allege Santillan, who also went by Art Sanchez, […]

A Look At The Life Insurance Gap

{September 10th, 2014} by Cyril Tuohy

Maybe it’s that life insurance has a marketing problem. Maybe it’s the competition with retirement and investment products. Or maybe it’s just that there are fewer life insurance agents willing to sit down at the kitchen table for a tete-a-tete about family protection needs. Why so many Americans are uninsured and underinsured for life insurance […]

Insurance Industry Blasts MetLife’s Preliminary SIFI Designation

{September 10th, 2014} by Jeff Jeffrey

WASHINGTON – Representatives of the U.S. insurance industry are roundly criticizing the decision by the Financial Stability Oversight Council to issue a preliminary systemically important financial institution designation to MetLife Inc. The American Council of Life Insurers issued a statement shortly after the FSOC’s decision was handed down, saying the organization was “extremely disappointed” by […]

Insurance Agent Charged In $100,000 Grand Theft

{September 10th, 2014} by Targeted News Service

LOS ANGELES, Calif., Sept. 9 — The California Department of Insurance issued the following news release: Isidro Santillan, 53, of Pacoima, was arrested in August and charged with 13 counts of grand theft and three counts of commercial burglary. Santillan allegedly stole more than $100,000 by selling insurance policies and bonds to licensed contractors and […]

LIMRA’s Kerzner: Life Industry Needs to Move Beyond Life Events

{September 9th, 2014} by Lee McDonald

WINDSOR, Conn. – LIMRA President and Chief Executive Officer Robert Kerzner said he believes life insurers have huge untapped growth opportunity but must convince consumers that life insurance is a necessity, not just a purchase tied to major life events. Kerzner was interviewed as part of special coverage of Life Insurance Awareness Month. LIMRA recently […]

Fed to go easy on insurance companies

{September 9th, 2014} by Arthur D. Postal

The Federal Reserve Board outlined for itself a very circumscribed role in regulating insurance companies. Specifically, it made clear that it doesn’t want to preempt the role of state insurance regulators in overseeing the traditional activities of insurance companies. In an appearance before the Senate Banking Committee, Daniel Tarullo, the Fed governor most directly associated […]

Boomer Esiason Steps Up for Life Insurance Awareness

{September 9th, 2014} by Lee McDonald

OLDWICK, N.J. – Former pro football star Boomer Esiason discusses events in his early life that led him to a new appreciation for the need for adequate life insurance protection. The retired NFL quarterback spoke with A.M.BestTV as part of special coverage of Life Insurance Awareness Month   Q: In this first episode of the […]

LIMRA: Second-Quarter US Sales of Individual Life Insurance Rose 1%

{September 9th, 2014} by Fran Matso Lysiak

WINDSOR, Conn. – The second quarter of 2014 continued to be slow for sales of individual life insurance in the United States as total sales, based on new annualized premium, rose 1%, according to LIMRA. Driving overall sales was individual whole life, which rose 6% during the period. For the first six months of this […]

Jobs Report: US Insurance Industry Adds 6,200 Jobs in August

{September 9th, 2014} by Jeff Jeffrey

WASHINGTON – The U.S. insurance industry continued its streak of growth in August, adding 6,200 jobs, the U.S. Bureau of Labor Statistics reported Sept. 5. The 0.25% seasonally adjusted increase followed the upward trend the industry has seen in recent months. The employment figures released by BLS show industry employment, which sits at roughly 2.43 […]

Coventry First CEO Calls AIG Unit’s Life Settlement RICO Lawsuit ‘Salacious,’ ‘Personal’

{September 9th, 2014} by Fran Matso Lysiak

FORT WASHINGTON, Pa. – Alan Buerger, chief executive officer of Coventry First, is calling a racketeering lawsuit filed by an indirect subsidiary of American International Group Inc. “salacious” and “personal as anything I’ve ever seen.” Lavastone Capital LLC, a subsidiary of AIG formerly known as AIG Life Settlements, sued Coventry First in the U.S. District […]

ING Name Vanishes From U.S.

{September 9th, 2014} by Megan Leonhardt

After nearly 40 years of seeing the ING name in the U.S. financial services industry, the remaining retirement, insurance and broker/dealer divisions of the company’s U.S. operations re-branded to the Voya name on Monday. Amsterdam-based ING Group, which purchased a number of U.S.-based companies starting in 1975, has slowly been divesting its global assets, including […]

Financial firms liking social media

{September 9th, 2014} by Marlene Y. Satter

Financial services companies are much better informed about social media than they were a year ago, and their plans for future use of such media are becoming more ambitious, refined and targeted. That’s according to LIMRA, which in 2013 asked the firms about their plans for social media. Answers a year ago were pretty much […]

AIG’s Expanded Operations Will Create 300 Jobs in Kansas

{September 9th, 2014} by N/A

American International Group Inc. held a grand opening Tuesday to celebrate its expansion in Olathe, Kan., which will bring 300 new jobs to the state by the end of 2015. Gov. Sam Brownback and AIG President and CEI Peter Hancock joined officials from AIG, the University of Kansas and Olathe at the ceremony. AIG’s expanded […]

Four Challenges That Make A Great Argument For Life Insurance

{September 9th, 2014} by Steve Sanders, LLIF. Senior Vice President and Chief Marketing Officer at Columbus Life. Steve may be contacted at steve.sanders@innfeedback.com.

Most life insurance professionals look beyond the life insurance industry for major trends that may impact our clients and our businesses. Policies at the federal level ranging from new health care laws to tax reform to budget challenges will have a major impact on our businesses in the coming years. At a minimum, they will […]

NAIFA YAT Forum panelist: Expect a new wave of life products

{September 8th, 2014} by Warren S. Hersch

In the coming years, many more carriers will offer products that allow owners of permanent policies to convert the cash value or death benefit into a single premium immediate annuity-like life income option. So predicted Michael Staeb during a panel discussion of young advisor team (YAT) members at the career conference and annual meeting of […]

Why clients want the new fixed indexed annuities

{September 8th, 2014} by Robert Bloink, William H. Byrnes

Fixed annuities have taken the market by storm this year, as carriers have responded to growing client demand for financial products that provide a guaranteed level of income. Much of this growth, however, has been driven by a new crop of fixed indexed annuity products that have been designed to allow clients to participate in […]

2014 annuity sales report: Industry-wide sales at highest level in three years

{September 8th, 2014} by Cathy Weatherford

The Insured Retirement Institute (IRI) today announced final second-quarter 2014 sales results for the U.S. annuity industry, based on data reported by Beacon Research and Morningstar, Inc. Reaching the highest mark in three years, industry-wide annuity sales in the second quarter of 2014 rose to $59.9 billion, a 6.8 percent increase from $56.1 billion in […]

Heard In The Hallways – NAIFA 2014

{September 8th, 2014} by N/A

Question: Will indexed universal life insurance sales continue to climb, level off or decline in the coming year? Why? “We’ll definitely see indexed universal life sales continue to climb — not just for the next year, but for the next couple of decades. That is, sales will keep rising provided that regulators don’t change the […]

AIG vs. Coventry First: Competing lawsuits on life settlements

{September 8th, 2014} by Arthur D. Postal

American International Group (AIG) and Coventry First, a leader in the life settlement market, are trading strong charges in competing lawsuits dealing with the appropriate interpretation of a 2006 deal where an AIG affiliate hired Coventry to help it acquire life policies in the then-booming life settlement market. The suits also expose for the first […]

Annuity Sales Reach Highest Level In 3 Years

{September 8th, 2014} by Cyril Tuohy

Consumer demand for protection and guaranteed income, particularly in fixed annuities, drove overall annuity sales to $59.9 billion in the second quarter. This is an increase of 9.9 percent over the year-ago period, the Insured Retirement Institute (IRI) announced. Overall annuity sales rose 6.8 percent over the first quarter, the IRI added, citing data provided […]

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