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 […]
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 […]
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 […]
