Phoenix Companies settles with SEC on timetables filings
{August 5th, 2014} by Warren S. Hersch
The Phoenix Companies, Inc. (PNX) has inked an agreement with the U.S. Securities and Exchange Commission to amend a March 21, 2014 order regarding delayed and future SEC filings for both the company and its subsidiary, PHL Variable Insurance Company. The amended administrative order, approved by the SEC today, provides that the SEC has settled […]
Lincoln Financial Group Reports Second Quarter 2014 Results
{August 5th, 2014} by Business Wire
Record Operating EPS of $1.47 up 16%; ROE increases to 13.0%Record Operating Revenues of $3.3 billion up 8%Book Value per Share, excluding AOCI, of $46.97 up 9% RADNOR, Pa., Jul 30, 2014 (BUSINESS WIRE) –Lincoln Financial Group today reported net income for the second quarter of 2014 of $398 million, or $1.48 per diluted […]
FBL Financial’s Second-Quarter Net Dips Slightly as Death Benefits, Released Reserves Rise
{August 5th, 2014} by Fran Matso Lysiak
WEST DES MOINES, Iowa – FBL Financial Group Inc.’s second-quarter 2014 profit declined slightly as death benefits, net of reinsurance and reserves released, rose to $23.1 million from $21.4 million the same period a year ago. Net income dropped less than 1% to $28.6 million. “By its nature, mortality experience can fluctuate from quarter to […]
FBL Financial Names Chief Operating Officer of Life Companies
{August 5th, 2014} by Marie Suszynski
WEST DES MOINES, Iowa – FBL Financial Group Inc. has promoted Raymond W. Wasilewski to chief operating officer of life companies to oversee business for FBL’s primary operating subsidiary, Farm Bureau Life Insurance Co. The position of COO was previously vacant. The company announced in January that Richard J. Kypta would retire from the position […]
Protective Reports Second Quarter 2014 Financial Results
{August 5th, 2014} by Business Wire
Protective Life Corporation (NYSE: PL) (“the Company”) today reported results for the second quarter of 2014. Net income for the second quarter of 2014 was $108.0 million or $1.33 per average diluted share, compared to $103.2 million or $1.27 per average diluted share in the second quarter of 2013. After-tax operating income was $106.4 million […]
Lincoln Financial Group Earns Top 25 Call Center Award for Customer Service
{August 5th, 2014} by Business Wire
ADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE:LNC) announced today that its Life insurance and Individual Annuity Customer Contact Centers have both been named to the Top 25 Call Centers in America by BenchmarkPortal for customer service excellence. BenchmarkPortal’s annual Top 100 Contest has become one of the most highly regarded awards in the call center industry. […]
Ex-Insurance Agent To Change Plea In Kansas Case
{August 5th, 2014} by The Associated Press
WICHITA, Kan. (AP) — A former Kansas insurance agent accused of stealing nearly $2 million from policyholders has told the court on the eve of trial that he wants to change his plea. A court notation shows Jason Matthew Pennington has a change-of-plea hearing on Tuesday in federal court in Wichita. Charges include wire and […]
Ex-LPL Exec’s New Firm Has Ties to SEC-Barred Advisor
{August 5th, 2014} by Ann Marsh
Four months after resigning “in light of the company’s concerns about [his] interactions with other employees,” a former LPL Financial executive has a new job — with a firm whose recent regulatory history might fall under the label, “it’s complicated.” As head of independent advisor services for the nation’s largest independent broker-dealer, Derek Bruton worked […]
What Hogwarts and the Advisor Network Summit have in common: Opinion
{August 5th, 2014} by Jamie Johnson
It’s no secret that I love talking and writing about social media. I would like to think that I’m one of the “pioneer hipsters” when it comes to how long I’ve had Facebook and Twitter profiles. Sadly, I’m not one of the first to have joined either network, though I was an early adopter. Click […]
A.M. Best Special Report: Life/Health M&A Activity Driven by New Markets and Consolidation
{August 4th, 2014} by Best's News Service
Oldwick – Global merger and acquisition (M&A) activity in the life/ health (L/H) industry during the first six months of 2014 is on track, in terms of total dollar value, to be consistent with full-year 2013 reported activity. According to A.M. Best research, 14 L/H deals were announced globally in the first half of 2014, […]
New Strategies for Same-Sex Life Insurance
{August 4th, 2014} by Alan Lavine
Same-sex couples tend to be younger, more affluent and buy low-cost term insurance It has been one year since the U.S Supreme Court struck down the Defense of Marriage Act, opening the way for legally recognized marriages between same sex couples at the federal level. These marriages are now legally recognized in twenty states. More […]
2 Agents Fined for Fixed Index Annuities
{August 4th, 2014} by Times Record, Fort Smith, Ark.
Aug. 02–In two consent orders, the Arkansas securities commissioner approved a settlement between staff at theArkansas Securities Department and two insurance agents, resulting in a $2,500 fine for each agent. Insurance agents Christy Coffman and Trent Dodds participated in a Social Security seminar in Fort Smith with two other insurance agents. A field marketing organization […]
Annuity Changes Could Have Been Worse for Indiana Retirees
{August 3rd, 2014} by Dan Carden, The Times, Munster, Ind.
Aug. 03–INDIANAPOLIS — The annuity options for retiring public employees, including teachers, may have been much worse if it wasn’t for the intervention of a small group of Hoosier lawmakers, including state Sen. Karen Tallian, D-Ogden Dunes. In July 2013, the trustees of the Indiana Public Retirement System, known as INPRS, voted to eliminate state-managed […]
YourLifeSolution.com Publishes Study Which Confirms that S&P 500 Index is the Most Consistent Winner of Indices
{August 1st, 2014} by PRWeb
YourLifeSolution.com, a service which allows consumers to view competing life insurance rates entirely online, has today published a graph created by North American Company for Life and Health Insurance which shows which market indices have performed the best and the worst for each year from 1997-2013. Based on this graph, YourLifeSolution.com believes that the S&P […]
Annuities contribute to earnings growth for Lincoln
{August 1st, 2014} by Staff
A 16 percent increase in operating income from annuities contributed to 12 percent growth in second quarter net income from operations at Lincoln National Corp. Lincoln’s second quarter net income from operations rose to $394 million, or $1.47 per share, from $351 million, or $1.27 per share for the same period last year. The company’s […]
Annuities or investments? Ask yourself this question: Opinion
{August 1st, 2014} by Adam Cufr
Cats or dogs? Conservative or Liberal? Investments or annuities? Click here to read…
Will an Uncapped Indexed Annuity Help You Profit From the Bull Market?
{August 1st, 2014} by Joanne Cleaver
If your annuity is uncapped, it doesn’t mean the sky’s the limit. What could be more limitless than an uncapped indexed annuity? The name of this relatively new twist on annuities makes it sound like the sky is the limit. You get growth and a guarantee, too. Right? Not so fast, says Jim Poolman, executive […]
Market Volatility Is Top Concern In 2Q
{August 1st, 2014} by Cyril Tuohy
Market volatility leaped to the No. 1 concern among financial advisors in the second quarter, up two spots from the previous quarter, according to a new poll of 200 advisors by Fidelity Advisor Investment Pulse. In the first quarter, the No. 1 concern for advisors centered around portfolio management, followed by interest rate risk, Fidelity […]
Dismiss 5 Myths Blocking Annuity Sales
{August 1st, 2014} by Rich Lane
Good advisors provide insights that have a positive effect on their clients’ financial paths. Smart advisors know they can help clients reach their financial goals. Some advisors think fixed annuity sales aren’t a good fit for clients who have more than 20 years remaining before retirement. Advisors also may think annuities are hard to sell […]
Ladenburg Thalmann acquires insurance brokerage for $42M
{August 1st, 2014} by Brian Bandell- South Florida Business Journal
Ladenburg Thalmann Financial Services acquired Highland Capital Brokerage, an insurance brokerage with over 280 employees. The Miami-based investment banking, asset management and securities brokerage firm (AMEX: LTS) has not previously worked as an insurance broker. Birmingham, Ala.-based Highland specializes in life insurance, annuities and long-term care. It has 10 regional offices, plus a host of […]
A new kind of life insurance policy
{August 1st, 2014} by Jeffrey Berson
The life insurance industry is slow when it comes to innovation. So when a new kind of life insurance product is starting to make an impact, I think it is good to know about it. The new product type I’m talking about is called the reversionary annuity. Annuity, you say? If it is a life […]
In wake of Q2 division earnings, Genworth draws scrutiny
{August 1st, 2014} by Warren S. Hersch
In the wake of lackluster second quarter financial results for Genworth Financial’s U.S. Life and Long Term Care Insurance divisions, and the departure of James Boyle, the company’s executive vice president and CEO of the Life Division, a question arises: Will the company have to revise its go-to-market strategy to remain a viable player in […]
Genworth Financial Announces Departure of Jim Boyle
{August 1st, 2014} by PR Newswire
RICHMOND, Va., July 29, 2014 /PRNewswire/ — Genworth Financial, Inc. (GNW) today announced that James R. Boyle, the company’s executive vice president and chief executive officer of its U.S. Life Insurance Division, is leaving Genworth. He has accepted the position of Chairman at HealthFleet, Inc., a healthcare technology company. Tom McInerney, Genworth president and chief […]
Variable annuity scam architect settles with SEC, admits to wrongdoing
{August 1st, 2014} by Daniel Williams
There are bad apples. And then there are rotten ones. Do you know the story of Michael A. Horowitz? Click here to read…
