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Archive for February 2016

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  • MassMutual to acquire MetLife advisor network for $300 million: LifeHealthPro

    {February 29th, 2016} by LifeHealthPro Editors

    MassMutual and MetLife have inked an agreement for the acquisition by MassMutual of MetLife’s U.S. Retail advisor force — the MetLife Premier Client Group (“MPCG”) — a retail distribution operation with more than 40 local sales and advisory operations and approximately 4,000 advisors nationwide. On February 25, 2016, MassMutual and MetLife previously announced joint discussions around […]

    MassMutual to Acquire MetLife Adviser Network for $300 Million: Financial Planning

    {February 29th, 2016} by Charles Paikert

    It’s a done deal: Massachusetts Mutual Life Insurance agreed to buy MetLife Premier Client Group, the company’s U.S. advisor force. MassMutual paid about $300 million, according to Bloomberg. MetLife will be the exclusive developer of certain annuity products issued by MassMutual, the seller said Monday in a regulatory filing. MetLife has wanted to limit government […]

    Death of the Insurance Salesman at MetLife

    {February 29th, 2016} by Leslie Scism

    Insurer is in talks to sell business of roughly 4,000 sales people to Massachusetts Mutual MetLife Inc. is preparing to part ways with a central force in the company’s history: its life-insurance agents. The nation’s largest life insurer by assets is in talks to sell a network of about 4,000 sales people to Massachusetts Mutual […]

    MetLife, Known for Life Insurance, May Part With Its Agents

    {February 29th, 2016} by The Associated Press

    MetLife is in talks to part ways with the life insurance agents who long defined one of the world’s biggest life insurance companies. The unit that the company is in talk to sell, known as MetLife Premier Client Group, has 4,000 agents who sell a number of policies, including life insurance, to individuals and small […]

    Can Robo Advisers Replace Human Financial Advisers?

    {February 29th, 2016} by The Wall Street Journal

    Supporters say robo advisers have advantages that can deliver greater wealth for clients. Skeptics say people still want flesh-and-blood guidance.   Do investors need people anymore? The past few years have seen the rise of robo advisers, a category that includes not only fully automated investment services and advice but also “hybrids” that pair computerized […]

    Buffett has long said that Berkshire’s “core” business is insurance

    {February 26th, 2016} by NOAH BUHAYAR

    (Bloomberg) — Here’s a theory from Charles Munger on why his friend Warren Buffett has been so successful building Berkshire Hathaway Inc. into one of the world’s most valuable companies: “He has a lot of time to think,” Munger told investors in Los Angeles on Feb. 10. “Warren is sitting on top of an empire now, […]

    Industry Taking A Skittish Stance On DOL Rule

    {February 26th, 2016} by John Hilton

    Riskalyze is working with a bank channel client overseeing 87,000 accounts in individual retirement accounts. The client is unsure what to do about the impending Department of Labor fiduciary rule. Half of the accounts contain $5,000 or less, said Aaron Klein, CEO of Riskalyze, an Auburn, Calif., firm that measures investing risk quantitatively. The problem […]

    Providing Life Insurance Is More Than Just Making A Sale

    {February 26th, 2016} by John Hilton

    It has been about 30 years since John Del Pozzo started out as a young insurance agent who “didn’t know anything,” but knew he had to make 15 appointments a week. Every week. If not, he had to work the phones on Saturday. And if he still didn’t get to 15, he made calls Sunday […]

    Principal announces key leadership changes

    {February 26th, 2016} by Business Record Staff

    Principal Financial Group Inc. on Tuesday announced several key leadership changes, among them the retirement of Terry Lillis, executive vice president and chief financial officer. Terry Lillis Lillis, who has been with the company for 34 years, announced his intent to retire before the end of the first quarter of 2017. An internal and external […]

    Two Principal Financial Executives to Retire, Four Promoted

    {February 26th, 2016} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com

    DES MOINES, Iowa – Principal Financial Group said two executives are retiring and several others have been promoted. Terry Lillis, current executive vice president and chief financial officer, will retire by the end of the first quarter of 2017, capping a 35-year career with the company. Principal will conduct a search for his successor, according […]

    Voya Financial Lands Pension Risk Transfer Deal Worth $350 Million

    {February 26th, 2016} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com

    WINDSOR, Conn. – Voya Financial’s retirement unit has entered into a pension risk transfer arrangement covering several thousand retirees of a Philadelphia-based specialized chemical company. Chemtura Corp. said in a statement it has agreed to buy a group annuity contract from Voya Retirement Insurance and Annuity Co. that will begin paying pension benefits to its […]

    Knighthead Annuity Names Industry Veteran to Head International Sales

    {February 26th, 2016} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com

    GEORGE TOWN, Cayman Islands – International annuity carrier Knighthead Annuity & Life Assurance Co. has hired a veteran of the investment industry to maintain and grow its global network of distribution partners. John Harrell, formerly with Russell Investments, is now executive vice president and head of sales and new business for Knighthead, the company announced […]

    Symetra, Now Part of Sumitomo Life, Reports Lower Fourth-Quarter Net Income

    {February 26th, 2016} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com

    BELLEVUE, Wash. – Insurance and annuities carrier Symetra Financial Corp. reported fourth-quarter net income of $57.2 million, a decrease from $67.6 million. The company said net income was affected by after-tax realized losses of $3.3 million, compared with after-tax realized gains of $6.9 million in the fourth quarter of 2014. Total revenue for quarter four […]

    A.M. Best Affirms Ratings of Delaware Life Insurance Company

    {February 26th, 2016} by Best's News Servicw

    Oldwick – A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit ratings of “a-” of Delaware Life Insurance Company (Wilmington, DE) and Delaware Life Insurance Company of New York (New York, NY) (collectively referred to as Delaware Life). The outlook for all ratings is stable. The ratings for Delaware Life […]

    How One Carrier Jumped Into The World Of Social Media

    {February 25th, 2016} by John Hilton

    Many advisors and carriers are jumping on to social media in a trial-by-fire manner, tweeting and friending their way through the cyber-forest. Northwestern Mutual opted to buy its way in. That desire to connect with new markets in new ways was the primary reason behind Northwestern Mutual’s 2015 purchase of LearnVest for a reported $250 […]

    Google Learns Selling Insurance on Commission is Hard; Industry Rejoices Prematurely

    {February 24th, 2016} by Matthew Josefowicz

    Insurers must be careful not to learn the wrong lessons both about the emerging market opportunity and about how innovation is done.   According the the WSJ and Insurance Journal, Google will announce today that it is suspending Google Compare for all financial services including insurance. It turns out, selling insurance for commissions through comparison […]

    The Google Threat to Insurers That Wasn’t—and the One that Could Still Be

    {February 24th, 2016} by Donald Light

    Google Compare was never one-tenth of the threat to insurers and insurance agents that many in the industry thought it represented. Google Compare was never one-tenth of the threat to insurers and insurance agents that many in the industry thought it represented. A steady stream of punditry that began when Google Compare was first announced […]

    One Year After Launch, Google Quitting Compare Auto Insuranc

    {February 24th, 2016} by Renée Kiriluk-Hill, associate editor, BestWeek: renee.kiriluk-hill@ambest.com

    OLDWICK, N.J. – Google is closing its Compare automobile insurance comparison site one year after its launch. Some insurers that worked with Google Compare said they learned on Feb. 22 Google would close the site in a month’s time, but they expected little if any impact. A USAA spokesman told Best’s News Service his company’s […]

    TIAA-CREF to Shed Last Name to Become TIAA

    {February 24th, 2016} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com

    NEW YORK – TIAA-CREF has shortened its name to TIAA and will soon tell the world about it. The 98-year-old financial services group has developed a marketing campaign, new logo and redesigned website to bring the brand makeover to the attention of the international community, according to a statement. A national advertising campaign will launch […]

    3 Questions Answered About the DOL’s “Conflict of Interest Rule”

    {February 24th, 2016} by Ebix, Exchange

      Over the last year you’ve probably been hearing a lot about the Department of Labor’s proposed fiduciary rule, affectionately known as the “Conflict of Interest Rule”. And it’s no wonder considering the impact it will have on the insurance and financial industries. The 900 page proposal isn’t necessarily something you’d want to sit down […]

    Thank you for a great year!

    {February 23rd, 2016} by Wink RockStars

    A snapshot of events that defined our 2015: WinkYearEnd2015           ************************************************

    Will the real Dave Ramsey please step up? Why Dave should actually love annuities and permanent life insurance

    {February 23rd, 2016} by Michael Markey

    Our past dictates our future.   We say Dave Ramsey’s past is why he is vehemently against debt. We say his opinions on this matter are valid, since he’s gone through the experience firsthand. But at what point do yesterday’s events stop dictating today’s behaviors? At what point are our past experiences demoted from juggernaut […]

    Fidelity & Guaranty Reports Higher First-Quarter Profit Ahead of Merger With Anbang

    {February 23rd, 2016} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com

    DES MOINES, Iowa – Annuity and life writer Fidelity & Guaranty Life reported higher first-quarter net income fueled by increased premiums, fees, and investment income along with reduced benefits payouts and costs. The company’s fiscal year begins Oct. 1, and its first quarter ends Dec. 31. Net income rose to $48 million from $14 million […]

    Fixed Index Annuities Gaining Traction with Broker/Dealers, Banks

    {February 23rd, 2016} by PE Kelly

    But they use them in wholly different ways, say Saybrus’ Mark Fitzgerald We caught up recently with Mark Fitzgerald, National Sales Manager at Saybrus Partners, who reported a 10% spike in FIA sales coming out of the B/D and Bank channels. This represents $13.8 billion segment, according to LIMRA. He attributes the continued low interest rate […]

    Are Negative Interest Rates Coming to the US?

    {February 23rd, 2016} by Douglas E. Johnston, Jr

    On the heels of a $2 trillion European market, once improbable strategy now on the Fed’s radar LOS ANGELES, Feb. 19, 2016 /PRNewswire/ — Negative interest rates are a confusing topic and they may be coming to the U.S. this year. If so, they may bring with them significant changes to everyday banking for Americans. Douglas E. […]

    For Annuity and Life Insurance Industry, a New Formula for Survival and Success

    {February 23rd, 2016} by Ernst & Young 2015 Retail Life Insurance & Annuity Executive Survey

    In a very challenging market, industry is poised to do well by doing good The following is an excerpt from the Ernst & Young 2015 Retail Life Insurance & Annuity Executive Survey, which delineates a clear path for the industry to shake off the effects of a sluggish global economy and incorporate some forward looking strategic […]

    Exclusive: Google to Shut Down Online Insurance Site, Partners Say

    {February 23rd, 2016} by Don Jergler and Amy O'Connor

    It appears Google Compare’s grand experiment in online comparison shopping for auto insurance is dead – for now at least. Insurance Journal has learned that two of Google Compare’s major partners were told today that the giant tech firm is shutting down its online shopping comparison undertaking. One former partner, Compare.com, heard the news not from Google, […]

    Allianz Life reports profit growth despite drop in total premium

    {February 23rd, 2016} by Neal St. Anthony

    Allianz Life Insurance Co. of North America Friday reported a record operating profit of $932 million in 2015, the fourth consecutive year of improved operating earnings. Chief Financial Officer Bill Gaumond said the results “speak to ongoing consumer demand for guaranteed-income products that can provide Americans with more confidence about achieving their financial and retirement […]

    Indexed Annuities Break Quarterly And Annual Sales Records

    {February 23rd, 2016} by LIMRA

    WINDSOR, Conn., Feb. 23, 2016—Breaking previous quarterly sales records, indexed annuity sales totaled $16.1 billion in the fourth quarter, 32 percent higher than prior year, according to LIMRA Secure Retirement Institute’s fourth quarter U.S. Individual Annuities Sales Survey. In 2015, indexed sales reached a record-breaking $54.5 billion – an increase of 13 percent from 2014. […]

    Insurance Careers Month

    {February 23rd, 2016} by Jamie Johnson

    An open letter to our industry colleagues and partners, Our world is rapidly changing, with emerging risks that are as complex as any we’ve ever seen. As a society, how will we address climate change, cybersecurity and water scarcity? And how will we deal with the rise of drones, biotechnology, nanotechnology, 3d printing, and artificial intelligence? Our industry, […]

    5 ways you can help recruit the next generation of insurance professionals

    {February 23rd, 2016} by ED LARGENT, CHRIS PATERAKIS

    Did you know the vast majority of agency principals and producers are over the age of 55? That was part of the impetus behind a collaborative group of insurance carriers, trade associations and industry partners inviting the insurance community to join them in supporting the first-ever Insurance Careers Month to be held February 2016. Click […]

    A.M. Best Special Report: Challenges Look Similar for U.S. Life and Annuity Industry But No Time for Complacency

    {February 22nd, 2016} by BusinessWire

    Although most U.S. life and annuity insurance companies begin 2016 facing many of the same challenges present in 2015, there is a heightened sense of urgency for owners, shareholders and policyholders to ensure companies are not continually increasing risks, according to a new A.M. Best special report. The 2016 Review & Preview Best’s Special Report, […]

    Will Annuities Miss the Retirement Train?

    {February 22nd, 2016} by John Hilton

    More Americans are taking charge of their retirement decisions, but fewer are choosing annuities when it comes to IRA rollover choices. Updated research by the LIMRA Secure Retirement Institute shows that 80 percent of retirees opt to either leave their money in a defined contribution plan or roll it over to an IRA. Just 8 […]

    Life Insurance Activity Heats Up in January

    {February 22nd, 2016} by Cyril Tuohy

    Principle-based reserving, the Department of Labor fiduciary standards, solvency assessments and the influence of regulators factor among the top trends facing life insurers in 2016, a new report states. The Federal Insurance Office (FIO), the Financial Stability Oversight Council (FSOC) and the Office of Financial Research (OFR) are already having a “significant impact” on the […]

    Life Insurance Activity Heats Up In January

    {February 22nd, 2016} by MIB

    Braintree, MA. (February 16, 2016) —In continued expansion, application activity for U.S. individually underwritten life insurance was up 6.4% in January year-over-year, all ages combined, according to the MIB Life Index. January’s results follows six straight quarters of expansion for the composite Index as growth accelerates with the underwriting of year-end sales activity. Composite application […]

    Allianz, AXA said to submit final offers in CIMB insurance deal

    {February 22nd, 2016} by JOYCE KOH, KOMAKI ITO, JONATHAN BROWNING,

    (Bloomberg) — Allianz SE, AXA SA and Sompo Japan Nipponkoa Holdings Inc. made final bids for the rights to distribute their general insurance products through CIMB Group Holdings Bhd.’s branches across Asia, people with knowledge of the matter said. CIMB could fetch about $200 million from the deal, according to the people, who asked not to be […]

    Aegon falls as U.S. drives quarterly pretax-profit decline

    {February 22nd, 2016} by David De Jong

    (Bloomberg) — Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., fell in Amsterdam trading after decline in U.S. income pushed down fourth-quarter pre-tax earnings. The stock dropped as much as 4.5 percent and was down 3.2 percent as of 10:25 a.m. Underlying pretax profit figure fell 14 percent from a year earlier to […]

    Lincoln Financial Group Sponsors American Paralympian Set to Climb Mount Everest

    {February 22nd, 2016} by Business Wire

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group today announced its sponsorship of Jeff Glasbrenner, a Paralympic athlete whose goal is to successfully climb the North Side of Mount Everest this year. Glasbrenner’s background is one of overcoming obstacles: At just eight years old, he lost his right leg in an accident on his family farm. He was […]

    Starting the annuity conversation

    {February 22nd, 2016} by Peggy Bresnick

    Your client is sitting on the other side of the desk. You’ve wrapped up the small talk and you’re both halfway through your mugs of coffee. So how do you bring up the topic of annuities? There’s no single best way to begin the annuities conversation, says John Roberts, marketing director for Orange County, Calif.-based […]

    More Financial Advisors Are Breaking Away

    {February 22nd, 2016} by Cyril Tuohy

    More financial advisor teams broke away from their employer “mother ship” in 2015. Last year saw 413 financial advisor teams break away, an 11 percent increase from the previous year. Those breakaway teams brought with them average assets under management of $344 million, according to the most recent research. While average assets under management by […]

    Genworth launches IncomeAssurance(SM) Immediate Need Annuity for older Americans who need care now

    {February 22nd, 2016} by PRNewswire

    RICHMOND, Va., Feb. 22, 2016 /PRNewswire/ — Genworth (NYSE: GNW) today launched the IncomeAssuranceSM Immediate Need Annuity, a medically underwritten single premium immediate annuity that provides a lifetime of monthly income payments for older, less healthy Americans needing care now or in the near future. Although the income can be used for any purpose, this new […]

    Ex-Advisor Charged With Robbing Same Bank Twice

    {February 22nd, 2016} by Ann Marsh

    Excess risk often gets brokers into trouble. One former broker, however, took risk much, much further when he allegedly wielded a knife in a robbery of a Connecticut bank. Not once, but twice. Driven by the failure of his consulting business, mounting debt and, according to authorities, an addiction to painkillers, Kevin W. Baker stole […]

    State Roundup: State of the States – 2015 Year in Review

    {February 20th, 2016} by PAM HEINRICH

    2015 is “in the books,” with the 2016 legislative sessions just getting underway in most states across the nation. NAFA tracks the legislative and regulatory activity undertaken at the state and federal level, following from introduction to adoption scores of proposed bills and rules that do, or have the potential to, impact the fixed annuity […]

    Allianz Life Reports Strong Financial Results for 2015

    {February 20th, 2016} by Business Wire

    MINNEAPOLIS–(Business Wire)–Minneapolis-based Allianz Life Insurance Company of North America (Allianz Life®) today reported operating profit of $932 million for its 2015 financial year, an increase of 6% from $876 million in 2014 and the fourth consecutive year of operating profit growth. The strong result was driven by disciplined business management and the continued growth and […]

    Record 2015 results show Northwestern Mutual is strong and growing

    {February 19th, 2016} by PRNewswire

    MILWAUKEE, Feb. 18, 2016 /PRNewswire/ — Northwestern Mutual continues to grow, reporting record-level revenue, assets, operating gain and surplus in 2015, while expecting to pay an industry-leading total dividend of $5.6 billion in 20161, despite another year of historically low interest rates.   The results reflect Northwestern Mutual’s strong operating fundamentals. They also underscore the growing demand […]

    John Hancock Retirement exec outlines firm’s take on annuities, auto features

    {February 19th, 2016} by Richard Stolz

    Peter Gordon is chief executive officer, John Hancock Retirement Plan Services, part of John Hancock Financial, the U.S. division of Toronto-based Manulife Financial Corporation. Previously he was the president of John Hancock Financial Network, the company’s national network of independent firms, and its broker-dealer, Signator Investors, Inc. John Hancock services over 56,000 plans and nearly […]

    Advisors Excel Event Raises $620,000 for the United Service Organizations

    {February 19th, 2016} by PRNewswire

    TOPEKA, Kan., Feb. 19, 2016  /PRNewswire/ — $620,000 was raised to support the United Service Organizations (USO) during a fundraiser hosted recently by Advisors Excel, a national financial services marketing organization based in Topeka, Kansas. The funds will help further the mission of the USO to keep American service members connected to family, home and […]

    Brokers International welcomes new President

    {February 19th, 2016} by Lynette Gil

    Brokers International, LTD., a Panora, Iowa-based insurance marketing organization, has announced that Mark Williams has been named their new president, according to a press release. The announcement comes after William McCarty, the longtime president and CEO of the company, resigned. It will be effective March 1, 2016. McCarty had been with the firm since 1986, […]

    Voya lowers caps, participation rates on indexed universal life policies

    {February 19th, 2016} by Greg Iacurci

    Voya Financial is lowering the cap and participation rates on some of its indexed universal life insurance policies because of rising market volatility.   Click HERE to view the full story via InvestmentNews; registration required       “Although all cash-value life insurance policies have the ability to change their non-guaranteed provisions on an annual […]

    AIG dealmaker Schreiber exits with Maag as insurer shrinks

    {February 18th, 2016} by Sonali Basak

    (Bloomberg) — American International Group Inc. veteran Brian Schreiber, who shepherded multibillion-dollar deals that expanded the company and then shrank it after the 2008 credit crisis, is departing as the insurer over hauls management. Seraina Maag, who rose to oversee regional operations after joining in 2013, also is leaving, Chief Executive Officer Peter Hancock wrote in […]

    Partners Advantage Sales Team Expands to Address Continued Growth Focus

    {February 18th, 2016} by Partners Advantage

    Riverside, CA – February 18, 2016 – Partners Advantage Insurance Services announced several additions to its sales team. This staff expansion is a key factor in an overall focus on growth in the Advantage division, which directly serves agencies and agents throughout the country. Senior Vice President of Sales and Marketing Charlie Gipple, CLU®, ChFC® […]

    Fiduciary Rule: No Time To Waste in Prepping for Changes

    {February 18th, 2016} by Kenneth Corbin

    Even as a controversial fiduciary proposal is in the final stages of the regulatory process, many advisors aren’t bothering to reassess their compliance framework or lay the groundwork for the changes they will have to make in their practices when the Department of Labor’s rule becomes the law of the land. That’s the assessment of […]

    Voya Financial Chairman and CEO Joins 30% Club

    {February 18th, 2016} by PRNewswire

    THURSDAY, FEBRUARY 18, 2016 NEW YORK, Feb. 18, 2016 /PRNewswire/ — Voya Financial, Inc. (NYSE: VOYA), announced today thatRodney O. Martin, Jr., chairman and CEO, has joined the 30% Club, a group of business leaders committed to better gender balance at all levels of their organizations through voluntary actions. The 30% Club works to bring about real […]

    Level39 Look Out — Des Moines Has Its Own Fintech Accelerator– For Insurance

    {February 18th, 2016} by Tom Groenfeldt

    The Global Insurance Accelerator (GIA) in Des Moines, Iowa has launched its second program for insurance technology startups. This year’s program attracted twice as many applications as last year’s. The GIA chose six startups across auto, property and health insurance to participate 100-day program which offers each team $40,000 of seed capital, office space, one-on-one mentorship, […]

    A study in contrasts: financial outlook of boomers vs. Gen Xers

    {February 17th, 2016} by Warren S. Hersch

    When it comes to retirement planning and financial hurdles, America’s baby boomers and Gen Xers are worlds apart. That’s a key theme of a new report from Allianz Life Insurance Company of North America. The study, “Allianz Generations Apart Study,” explores the different challenges boomers (ages 49-67) and Gen Xers (ages 35-48) face as they […]

    How Can a Ganjapreneur Get Life Insurance?

    {February 17th, 2016} by Ted Jenkin

    So, what the heck is a “ganjapreneur” anyway?     If you have nothing important to do for a few hours and you want to laugh out loud, take a gander at www.ganjapreneur.com/marijuana-slang.  This is a website where you can see just about any marijuana slang you could ever imagine.     Ganja is another […]

    What the annuity industry can expect in 2016

    {February 17th, 2016} by Jason Frain

    At first glance, the annuity industry may not appear to have much in common with Major League Baseball (MLB). Yet with Q1 well under way, and pitchers and catchers slated to report to spring training on February 18, observers in both fields are offering their prognostications for what the coming year will bring. From my vantage […]

    We do the work so you don’t have to!

    {February 16th, 2016} by Wink's RockStars

    We monitor a multitude of magazines, newspapers, websites, and trade journals on a daily basis for relevant industry news to send directly to your email inbox once a week in our weekly newsletter. We value our relationships with media outlets because we want to continue being the first-to-know on hot and trending industry news, so […]

    Google-AIG Is a Nice Daydream

    {February 16th, 2016} by Michael P Regan

    “Ask any veteran stock analyst what industry group draws the smartest but quirkiest colleagues,” strategist Nicholas Colas of ConvergEx Group wrote in a note to clients earlier this month, “and you’ll probably hear one sector more than any other: ‘Insurance.’ “ It’s almost as if Citigroup analyst Todd Bault and his colleagues set out over the […]

    Google parent should buy AIG: An ‘audacious’ idea from Citigroup

    {February 16th, 2016} by SONALI BASAK

    (Bloomberg) — It’s an “audacious” idea, and Citigroup Inc. acknowledges as much. Google’s parent, Alphabet Inc., should buy American International Group Inc. (AIG) to expand into financial services, and turn the insurer into a laboratory for innovation, the New York- based bank’s analysts said in a note Monday. “We realize it is a very low-probability […]

    Have you heard of annuities being marketing in this manner?

    {February 16th, 2016} by FINRA

    FINRA Warns High-Yield CD Offers Can Be Bait for High-Commission Investments Low-interest climate opens creative ‘bait & switch’ ploys targeting seniors February 10, 2016 — WASHINGTON–(BUSINESS WIRE)–Advertisements touting higher-than-average CD yields might actually be a lure to trick investors into buying costly investments, the Financial Industry Regulatory Authority said today in a new Investor Alert. “In light of […]

    RetireUp Expands Modeling Capabilities with Addition of Annuity Products from Allianz Life

    {February 16th, 2016} by PRNewswire

    CHICAGO, Feb. 16, 2016 /PRNewswire/ — RetireUp, the innovative web-based platform that allows advisors to create and run detailed retirement scenarios in real time, announced that it is now able to illustrate fixed index annuities (FIAs) from Allianz Life Insurance Company of North America (Allianz Life®), including Allianz 222® and Allianz Core Income(SM) 7 , […]

    Virtual position available: Annuity Specialist

    {February 16th, 2016} by AIB

    AIB – Atlantic Insurance Brokerage – Internal ANNUITY Specialist needed to support national independent insurance brokerage firm – Virtual position supports sales team.  Experience in indexed annuity marketplace required.  Please send your contact information and background to richard@atlanticinsurancebrokerage.com.      

    Prudential Financial, Inc. Announces 2015 Results

    {February 16th, 2016} by Business Wire

    NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE:PRU): After-tax adjusted operating income for 2015 of $4.649 billion, or $10.04 per Common share, compared to $9.21 per Common share for 2014.1 Fourth quarter 2015 after-tax adjusted operating income of $891 million, or $1.94 per Common share, compared to $2.12 per Common share for the year-ago quarter.1 Significant items […]

    Happy Consumers Contributed to Strong Annuity Sales Trends

    {February 16th, 2016} by BY LINDSAY MELESHKO

    When many of us picture retirement, we envision laid-back days of enjoying hobbies, spending time with family and friends, and perhaps traveling to beautiful destinations. Unfortunately without proper planning, many people may not be able to achieve this vision. A common thread among those who are happiest in retirement is related to confidence in finances. […]

    NAFA Joins Fellow Trade Groups in Support of Bipartisan Bills on Financial Advice

    {February 16th, 2016} by NAFA

    WASHINGTON (Feb. 9, 2015) — In an effort to ensure consumers receive retirement advice that is in their best interests, NAFA, the National Association for Fixed Annuities, joined fellow members of the Secure Family Coalition last week in issuing strong support for two bipartisan bills introduced in the House at the end of December 2015. […]

    Murder victim’s insurance subject of St. Charles County court battle

    {February 16th, 2016} by Robert Patrick

    ST. CHARLES • The criminal investigation of who killed Elizabeth “Betsy” Faria is in effect over. Late last year, a judge found her husband not guilty. Lincoln County authorities who prosecuted Russell Faria say they believe that he did it, and have no reason to look at anyone else. But one county south, the murder […]

    FAREWELL TO A RARE & LOVELY GENTLEMAN

    {February 16th, 2016} by dsm Weekly

    Friends of the late G. David Hurd have come up with a unique tribute for today’s celebration of his life: Wear a lapel pin. “Dave adorned his lapels with pins,” recalls close friend Mary O’Keefe. “Some were just downright brooches,” she adds, explaining that he had two reasons:  * In quiet protest of the fact […]

    Industry Reps Say Companies Not Inflating Harm of DOL Rule

    {February 16th, 2016} by Frank Klimko, Washington correspondent, BestWeek: frank.klimko@ambest.com

    WASHINGTON – Insurers and industry representatives rebuffed lawmaker accusations that financial services firms are overstating how a proposed fiduciary conflict-of-interest rule would destabilize the market and make it harder to provide adequate retirement advice to consumers. In a letter to U.S. Labor Secretary Thomas Perez, U.S. Sen. Elizabeth Warren, D-Mass., and U.S. Rep. Elijah Cummings, […]

    Do You Know These Life Insurance Terms?

    {February 16th, 2016} by N/A

    The art and discipline of insurance jargon and how to share it with your clients  How can we convince our clients to buy when they don’t even understand what we are offering? Every industry and occupation, from car wash operation to janitorial services to medicine, requires on-the-job learning, specialized training, and adoption of insider terminology.  […]

    5 potentially major threats to your retirement

    {February 15th, 2016} by Aubrey Cohen, NerdWallet

    Even if you’ve been diligently saving for retirement and have your money socked away in the right investments for your age, unforeseen problems can disrupt your careful planning. Threats to your retirement can come from both inside your own family and from strangers who want to take advantage of you. Here’s what you can do […]

    Offer FIAs to take advantage of retirement income opportunities

    {February 15th, 2016} by Peggy Bresnick

    According to LIMRA LOMA Secure Retirement Institute research, approximately 66 million Americans are heading into retirement. By 2025, the number of retirees in the U.S. will explode, growing an astronomical 40 percent. This growth presents an unprecedented opportunity for advisors and brokers, as the last of the baby boomers and Gen X designate more than $25 […]

    EMC Insurance CEO Says Company Carefully Accepting New Accounts

    {February 13th, 2016} by Renée Kiriluk-Hill, associate editor, BestWeek: renee.kiriluk-hill@ambest.com

    DES MOINES, Iowa – Fourth-quarter net income dropped 39% at EMC Insurance Group Inc., but the results were still better than expected, President and Chief Executive Officer Bruce Kelley said in an earnings call. “This was primarily attributed to the reinsurance segment, which experienced a considerable amount of favorable development on prior-year accident reserves and […]

    AIG CEO Optimistic on Reserve Actions, Expanded Board

    {February 13th, 2016} by David Pilla, news editor, BestWeek: David.Pilla@ambest.com

    NEW YORK – An expansion of its board of directors to include two activist investors, along with a planned resolution of prior-year losses and other property/casualty issues, will clear the way for American International Group Inc.’s efforts to streamline its operations, said the group’s chief executive officer. “Our fourth-quarter results were impacted by our actions […]

    The truth about declining annuity payouts: Opinion

    {February 12th, 2016} by ANDREW MURDOCH, CFP

    Sadly, bad news has emerged on the annuity front — and brokers and agents should inform their clients and prospective clients accordingly and help them cope. Annuity payouts have been declining, typically about 10 percent, and those insurance companies that have yet to trim payouts are highly likely to do so as the year progresses. The […]

    Paulson, Icahn score AIG board seats, only to face uphill battle

    {February 12th, 2016} by SONALI BASAK, KATHERINE CHIGLINSKY

    (Bloomberg) — John Paulson and Carl Icahn, who became billionaires by identifying mispriced securities and pushing for corporate shakeups, face a new challenge after winning seats on the board of American International Group Inc., the insurer that’s been too big to manage for more than a decade. Paulson was nominated to be a director along with […]

    Happy New Year – Well, Maybe?

    {February 12th, 2016} by Chip Anderson

    MESSAGE FROM NAFA We begin 2016 as we ended 2015, still waiting for the Department of Labor’s (DOL’s) proposed ruling. The final rule could contain revisions based on suggestions and ideas expressed during the second comment period, which closed this past September. As this publication goes to press in early February, we have confirmation that […]

    Prudential: We’re Ready for DOL Rule

    {February 12th, 2016} by Cyril Tuohy

    Prudential Financial executives say they are prepared for the “full range of contingencies” when the Department of Labor’s conflict of interest rule is published in the coming weeks. The comments coincided with those of two lawmakers blasting life insurance and retirement companies for their “doomsday predictions” for the fiduciary rule. In a Feb. 11 letter […]

    FIAs on a Tear But for How Long?

    {February 12th, 2016} by Cyril Tuohy

    Fixed index annuities (FIA) are all the rage, superstars of the fixed annuity world, worthy of red carpet treatment, and maybe a support Oscar for boosting fixed annuity sales to more than $74 billion in the first nine months of last year. How long can this party last? Every actor hides a vice, and the […]

    U.S. lawmakers hammer financial companies on retirement advice rule

    {February 12th, 2016} by Reporting by Lisa Lambert; Editing by David Gregorio

     Two influential U.S. lawmakers on Thursday criticized the financial industry for saying in public that a new rule on retirement advice could have “dire consequences,” but then speaking optimistically about it with shareholders. The proposed rule would create a “fiduciary standard,” meaning that brokers who give retirement must act in their clients’ best interest. The […]

    Federal Judge Questions Validity of MetLife SIFI Designation

    {February 12th, 2016} by Frank Klimko, Washington correspondent, BestWeek: frank.klimko@ambest.com

    WASHINGTON – A federal judge questioned the legality of how the Financial Stability Oversight Council designated MetLife Inc. as a systemically important financial institution, saying she doubted whether neutral adjudicators were involved in the decision. “What I’m trying to understand here is the council’s adjudication process,” said U. S. District Judge Rosemary M. Collyer, of […]

    Prudential Posts Fourth-Quarter Net Income of $735 Million

    {February 12th, 2016} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com

    NEWARK, NJ – Prudential Financial posted fourth-quarter net income of $735 million, reversing a loss of $1.2 billion a year ago. Releasing its earnings after the close of the New York stock exchanges, Prudential reported total revenues for the quarter of $13.24 billion, lower than last year’s $15.82 billion. Premium income this quarter was $7.49 […]

    Oxford Life Exec Named Interim Arizona Insurance Commissioner

    {February 12th, 2016} by Thomas Harman, Washington Bureau manager, BestWeek: Tom.Harman@ambest.com

    PHOENIX – Arizona Gov. Doug Ducey has appointed Leslie Hess as the new interim director of the Arizona Department of Insurance. She succeeds former House Speaker Andy Tobin, who had held the director’s job since early October, when Ducey appointed Tobin to fill the vacancy left when Germaine Marks resigned from the job to be […]

    Yellen Signals Rate Path Hinges on Whether Turmoil Persists

    {February 12th, 2016} by Christopher Condon, Jana Randow, Craig Torres

    Chair Janet Yellen said the Federal Reserve still expects to raise interest rates gradually while making it clear that continued market turmoil could throw the central bank off course from the multiple increases that policy makers have forecast for 2016. “Financial conditions in the United States have recently become less supportive of growth,” Yellen said […]

    Financial-Services Sales Gave Nationwide A Boost In 2015

    {February 11th, 2016} by Mark Williams

    Nationwide said today that its net operating profit rose 9 percent in 2015, helped by a strong increase in sales of its financial-services products. The insurer reported net operating income of $1.2 billion last year, up from $1.1 billion in 2014. Nearly all of the operating income came from Nationwide’s financial-services operation, whose sales rose […]

    Manulife earnings hit hard by sharp drop in energy prices

    {February 11th, 2016} by Warren S. Hersch

    Manulife Financial Corporation suffered significant declines in fourth-quarter and full-year earnings in 2015, the company disclosed today. The Canada-based life insurer, which operates in the U.S. through its John Hancock unit, recorded fourth quarter net income attributable to shareholders of CA$246 million (US$176.2 million). This compares to CA$640 million (US$458 million) for the year-ago period, […]

    MetLife too-big-to-fail designation defended by government

    {February 11th, 2016} by Andrew Harris, Ian Katz

    (Bloomberg) — A U.S. lawyer defending the government’s decision to designate MetLife Inc.a threat to the American economy if it were to falter was questioned sharply by a federal judge who was asked by the company to remove the label. The nation’s biggest life insurance company is one of four companies tagged as a systemically important financial […]

    Voya Financial Announces Fourth Quarter and Full Year 2015 Results

    {February 11th, 2016} by PRNewswire

    NEW YORK, Feb. 10, 2016 /PRNewswire/ — Voya Financial, Inc. (NYSE: VOYA) today announced financial results for the fourth quarter and full year 2015.   4Q 2015 operating earnings of $0.91 per diluted share, after-tax Excluding DAC/VOBA and other intangibles unlocking, after-tax operating earnings were $0.82 per diluted share 4Q 2015 net loss available to common […]

    Hot 100 2015

    {February 11th, 2016} by Insurance Business America

    WELCOME TO IBA’s annual Hot 100 list. We asked you, the insurance community, to pass on your suggestions for the big names to be considered for inclusion on this list of industry power players. From CEOs and presidents of major insurers to local heroes, the names came flooding in. While this isn’t an exhaustive list […]

    American Equity reports fourth-quarter, year-end earnings

    {February 11th, 2016} by Business Record

      American Equity Investment Life Holding Co., a leading issuer of fixed index annuities, on Wednesday reported fourth-quarter 2015 net income of $33.8 million, or 40 cents per share, compared with $31.2 million, or 39 cents per share, for the year-ago quarter. For the year ended Dec. 31, 2015, net income was $219.8 million, or […]

    All volatility-controlled indices are NOT created equal

    {February 10th, 2016} by Daniel W. McDonald

    As index annuities gain popularity, competition for market share is fierce, and volatility-controlled indices have become an industry standard — but how do they actually work? All volatility-controlled indices are, in fact, not created equal to highlight the difference of each index and not to prove if one index is better or worse than another (that’s […]

    Nicholas R. Ohlson, ChFC, Earns Chartered Life Underwriter® (CLU®) Designation

    {February 10th, 2016} by The American College

    February 10, 2016 – Chicago, IL –  Nicholas R. Ohlson, ChFC, Managing Director of the Ohlson Group, Inc., Chicago Office, has earned the Chartered Life Underwriter® (CLU®) designation from The American College, Bryn Mawr, PA. Candidates for the CLU® designation must complete a minimum of eight courses and 16 hours of supervised examinations. They must […]

    Why MetLife believes the scariest risk is being classified as risky

    {February 10th, 2016} by KATHERINE CHIGLINSKY, ANDREW HARRIS, IAN KATZ

    (Bloomberg) — For MetLife Inc. Chief Executive Officer Steve Kandarian, the scariest risk is being classified as risky. MetLife lawyers go to court Wednesday seeking to overturn a too-big-to-fail designation in a lawsuit that could, if the insurer prevails, reduce the government’s ability to rein in large financial firms. If the company loses, Kandarian may face tougher oversight […]

    How Debt, Deflation and Demographics Could Fuel Very Low Interest Rates for a Long Time

    {February 10th, 2016} by BY TOM HEGNA

    As many of your customers head into retirement, they do not realize that low interest rates and deflation may be just as big a risk as inflation. Deflation means the decline in the overall price of goods and services. Many of you may wonder why low interest rates and declining prices would be a problem. […]

    Presidents Day 2016

    {February 9th, 2016} by Wink RockStars

    The Wink office will be closed Monday, February 15th in observance of Presidents Day. 

    Genworth Financial Announces Fourth Quarter 2015 Results

    {February 9th, 2016} by PR Newswire

    Net Operating Loss Of $0.17 Per Share And Net Loss Per Share Of $0.59 Driven By Annual Assumption Updates In Life Insurance; Loss On Sale From Previously Announced Business Divestitures Also Impacted Net Loss February 04, 2016: 04:45 PM ET RICHMOND, Va., Feb. 4, 2016 /PRNewswire/ — GAAP Annual Assumption Review Complete Long Term Care […]

    A.M. Best Downgrades Ratings of Genworth Financial, Inc. and Its Subsidiaries

    {February 9th, 2016} by Best's New's Service

    FOR IMMEDIATE RELEASE OLDWICK – FEBRUARY 09, 2016 A.M. Best has downgraded the financial strength rating (FSR) to B++ (Good) from A- (Excellent) and the issuer credit ratings (ICR) to “bbb+” from “a-” of Genworth Life and Annuity Insurance Company (GLAIC) (Richmond, VA). Concurrently, A.M. Best has downgraded the FSR to B++ (Good) from A- […]

    Genworth CEO: Company to Restructure, Suspend Life and Annuity Sales

    {February 9th, 2016} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com

    RICHMOND, Va. – Continued losses in two of its core business lines led Genworth to make the “very difficult” decision to suspend their sales and begin a company-wide restructuring, Chief Executive Officer Tom McInerney told investors during a fourth-quarter earnings call. He said Genworth will suspend sales of its traditional life insurance and fixed annuities […]

    Genworth Halts Life, Annuity Sales After Loss; Shares Fall

    {February 9th, 2016} by Katherine Chiglinsky

    February 4, 2016 — 3:52 PM CST Updated on February 4, 2016 — 4:48 PM CST Genworth Financial Inc. suspended sales of traditional life insurance and fixed annuity products so the company can focus on stabilizing the unit that provides long-term care coverage. The insurer posted a fourth-quarter loss of $292 million, or 59 cents […]

    Genworth: 3 things for agents to know

    {February 9th, 2016} by Allison Bell

    Executives at Genworth Financial Inc. (NYSE:GNW) see continuing to sell long-term care insurance (LTCI) as an important part of efforts to turn the company around. Tom McInerney, the company’s president, talked on Friday about the value of continuing to sell LTCI with securities analysts during a conference call the company held to go over fourth-quarter […]

    Correction: Genworth-Layoffs story

    {February 9th, 2016} by The Associated Press

    The Associated Press February 7, 2016 5:48 pm RICHMOND, Va. (AP) — In a story Feb. 6 about layoffs at Genworth Financial Inc., The Associated Press reported erroneous numbers and misidentified a company spokesman. The total number of layoffs is 330, not approximately 400, with 70 of those in Richmond and 200 in Lynchburg — […]

    Genworth Financial will lay off 200 in Lynchburg; stock drops more than 21 percent

    {February 9th, 2016} by Jason Ruiter

    Genworth Financial Inc. announced Friday it is laying off 200 employees in Lynchburg, more than 16 percent of its workforce in the Hill City. The layoffs are a result of company restructuring after poor fourth quarter results, suspending “sales” of two business units — traditional life insurance and fixed-annuity products — to address its long-term […]

    Genworth suspends life insurance sales, plans restructuring

    {February 9th, 2016} by Richmond Times-Dispatch and Bloomberg News

    Earlier: Genworth Financial Inc. said Thursday it is suspending sales of some products and planning a restructuring after the company posted a loss for the fourth quarter and full year of 2015. Genworth said it would suspend sales of its traditional life coverage and fixed-annuity products in the first quarter of this year, so the company […]

    Genworth to Separate Struggling Long-Term Care Segment

    {February 9th, 2016} by Maria Armental, maria.armental@wsj.com

    Genworth Financial Inc. plans to separate its money-losing long-term care business and stop selling traditional life and fixed annuities as part of a cost-cutting move. The Richmond, Va., company unveiled the plans Thursday as it reported a narrower fourth-quarter loss. Genworth estimated it will take a $15 million pretax restructuring charge in the current quarter […]

    Genworth prepared for asset sales as market shuns borrowers

    {February 9th, 2016} by KATHERINE CHIGLINSKY

    (Bloomberg) — Genworth Financial Inc. (NYSE:GNW) said it could pursue more divestitures to help pay down more than $500 million in debt maturing in 2018 as turmoil in the bond market shuts out junk borrowers. “In the current environment, it would be very difficult for us to refinance the 2018 maturities, given the concerns with […]

    Dominoes Fall for Genworth Financial

    {February 9th, 2016} by Carleton English

    Genworth Financial (GNW), a Virginia-based insurance company, has taken a beating over the last year as shares have fallen 76% and are now trading for less than $2. The most recent drop in share price can be attributed to Fitch Ratings downgrading the company’s credit rating to BB+ from BBB, one notch below investment grade. […]

    Allianz Life Hires Steve Koslow as Chief Compliance Officer

    {February 9th, 2016} by Business Wire

    February 02, 2016 09:30 AM Eastern Standard Time MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz Life®) and Allianz Life® Insurance Company of New York recently hired Steve Koslow as the chief compliance officer to oversee the compliance management system for insurance, broker/dealer and investment advisor regulated business as well as compliance with legal […]

    MIDLAND NATIONAL(R) LIFE INSURANCE COMPANY ANNOUNCES EXACTAPP(SM) FOR INDEXED UNIVERSAL LIFE

    {February 9th, 2016} by Market Wired

    /EINPresswire.com/ — SIOUX FALLS, SD–(Marketwired – February 09, 2016) – Midland National Life Insurance Company announced today the immediate availability of the ExactApp℠ electronic application submission tool for its indexed universal life insurance products. Use of ExactApp℠ will allow Midland National’s agents to schedule paramed exams online and submit complete application packages without re-keying the […]

    North American Company Announces SimpleSubmit® e-app for Indexed Universal Life Product

    {February 9th, 2016} by North American Company for Life and Health Insurance

    SOURCE: North American Company for Life and Health Insurance February 09, 2016 09:58 ET CHICAGO, IL–(Marketwired – February 09, 2016) –  North American Company for Life and Health Insurance® announced today the immediate availability of the SimpleSubmit electronic application submission tool for its indexed universal life products. Use of SimpleSubmit will allow North American Company’s […]

    New LIMRA Research Finds Chinese-Americans More Likely to Own Individual Life Insurance than the General Population

    {February 9th, 2016} by LIMRA

    Feb. 9, 2016—According to new LIMRA research, half of Chinese-Americans own individual life insurance, compared with 39 percent of the U.S. general population. “The study found Bilingual Chinese-Americans were more likely to own individual life insurance and more likely to own permanent life insurance compared with the other segments of the Chinese-American market,” said Nilufer […]

    Variable Annuities Face New Test From the Government

    {February 9th, 2016} by Anna Prior, anna.prior@wsj.com

    Variable annuities—which are controversial but widely used for retirement saving—are about to face one of their stiffest tests thanks to a Labor Department proposal. The proposed rule, expected to be finalized as soon as next month, would hold advisers working with retirement savings to a “fiduciary” standard. That approach means an adviser must work in […]

    Forethought Adds New BlackRock Index to Annuity Products

    {February 8th, 2016} by Forethought Life Insurance Company

    An index strategy targeting growth and diversification Indianapolis, IN — Forethought Life Insurance Company (Forethought), a subsidiary of Global Atlantic Financial Group Limited, has announced it is adding the new BlackRock Diversa™ Volatility Control Index* interest crediting strategy to its fixed index annuity (FIA) products. As a result of the initiative, Forethought is able to […]

    Lincoln CEO: No Immediate Split-off Plans

    {February 8th, 2016} by John Hilton

    Lincoln Financial expects to remain strong despite changes made by competitors such as MetLife, CEO Dennis Glass said last week. Fresh off a disappointing fourth-quarter earnings report, Lincoln Financial Group CEO Dennis Glass said the company is not ready to reorganize, but he also didn’t rule it out. Speaking on a Thursday conference call with […]

    ‘Visionary’ leader David Hurd remembered

    {February 8th, 2016} by BUSINESS RECORD STAFF

     After the death of a prominent community member over the weekend, Des Moines is left with the absence of a man known for his generosity and support of the city, The Des Moines Register reported. Former Principal Financial Group Inc.  CEO G. David Hurd, 86, died Saturday afternoon after falling from The Plaza condominium complex at […]

    Bringing commissions out of chaos

    {February 8th, 2016} by Erica Pauly

    For the most part, you, as an advisor, are a bottom line person, right? Too many details overwhelm you, and too little details don’t give you the full picture. Where is the line when it comes to figuring out return on investment and data tracking within your company? Can it be done without making you […]

    NAIC Names Wisconsin Insurance Commissioner Nickel New President-Elect

    {February 8th, 2016} by Thomas Harman, Washington Bureau manager, BestWeek: Tom.Harman@ambest.com)

    WASHINGTON – The National Association of Insurance Commissioners has elected Wisconsin Insurance Commissioner Ted Nickel to the group’s recently vacated president-elect post. The NAIC held a plenary meeting Feb. 7 in which it held elections for the president-elect, vice president and secretary-treasurer jobs following the resignation of Kentucky Insurance Commissioner Sharon Clark, who had been […]

    DOL Rule Heralds New Era in Distribution

    {February 8th, 2016} by Cyril Tuohy

    The Department of Labor rule designed to corral conflict of interests among financial advisors will likely lead to new ways of distributing insurance products into qualified retirement plans, say insurance carrier executives. The comments, gleaned from earnings calls with analysts last week, suggests a brighter and more optimistic picture of how the industry will adapt. […]

    Here are 5 of the top regulatory hurdles facing insurers in 2016

    {February 5th, 2016} by Warren S. Hersch

    From principle-based reserving to the Department of Labor’s re-proposed fiduciary standard, life insurers and their agents and advisors face a host of regulatory threats. A new report from Deloitte Center for Regulatory Strategies, “Top regulatory trends for 2016 in insurance,” delves into the pitfalls and proposes solutions for tackling them. Some of the changes may […]

    Here’s what the insurance agency of the (near) future will look like: OPINION

    {February 5th, 2016} by John Sarich

    The year ahead will see the continuation of the consolidation trend we’re seeing across the insurance industry — not just of huge health insurance carriers merging into a few megaliths, but of agencies combining to form something more akin to a professional service firms, with a range of specialties under one roof.  These new combined agencies […]

    African-Americans place greater value on life insurance

    {February 5th, 2016} by BARBARA MARQUAND

    Lazetta Rainey Braxton remembers when she was a child growing up in South Hill, Virginia, and insurance agents went door to door in African-American communities selling life insurance to cover burial expenses. The small policies gave people like her parents and grandparents the security of knowing they’d be buried with dignity and that their families […]

    Your 5 best arguments for life insurance (besides the death benefit)

    {February 5th, 2016} by Ed Slott

    I do not sell life insurance. I am a tax advisor. And as a tax advisor, I can tell you that the single biggest benefit in the federal tax code is the income tax exemption for life insurance.   Life insurance should be a bedrock of any serious financial, retirement or estate plan, but it is not used nearly enough, even by […]

    Charlie Gipple Leads National Sales Training Workshops

    {February 5th, 2016} by Partners Advantage

    Riverside, CA  – February 5, 2016 – The Partners Advantage Index Academy will travel across the country in 2016 and deliver a full-day workshop focused on education that causes sales. The workshops entitled the “Great 8 Boot Camps” are led by nationally recognized indexed product educator Charlie Gipple CLU®, ChFC®, senior vice president of sales and […]

    The life-changing life insurance career that’s often overlooked

    {February 4th, 2016} by Warren S. Hersch

    Do well by doing good. For life insurance and financial services professionals, this adage finds perhaps its fullest expression in an often-overlooked industry niche: fraternal benefit societies. Agents and advisors seeking more rewarding and successful careers might do well by taking a closer look at them. Why? The societies offer producers unique opportunities to weave […]

    Brokers’ Service Marketing Group Publishes Results of the 2016 Life Insurance & Annuity Brokerage Survey

    {February 4th, 2016} by Newswire.com

    Providence, Rhode Island – February 4, 2016 – (Newswire.com) In November of 2015, Brokers’ Service Marketing Group sponsored a non-branded, blind survey of over 75,000 financial sales professionals licensed to sell life insurance and annuities in the United States. These financial professionals were invited by email and online promotions to participate in the survey. The […]

    MetLife lays out reasons for plan to split off Charlotte unit

    {February 4th, 2016} by Deon Roberts: 704-358-5248, @DeonERoberts, deroberts@charlotteobserver.com

    MetLife says regulators could require it to boost capital buffers because of its variable annuities business The company says that’s a key factor in its plan to separate its Charlotte-based U.S. retail business MetLife has said it intends to keep the separated company headquartered in Charlotte   MetLife on Thursday cited expectations that regulators could […]

    3-Mentors Joins Forces with GamePlan

    {February 4th, 2016} by GamePlan Financial Marketing

    February 4, 2016 Woodstock, GA – GamePlan Financial Marketing, LLC (GamePlan) announced today that as of February 2, 3-Mentors, Inc., is joining forces with the industry-leading GamePlan team. 3-Mentors, headquartered in Suwanee, Georgia, was founded in 2006 by Gary Reed, David Gaylor, and Rodney Harris, three highly successful financial professionals with a goal to build a Field Marketing […]

    Super Bowl Ad Lessons Learned, a Year After Commercial That Went Way Wrong

    {February 3rd, 2016} by Mike Tanier , NFL National Lead Writer

        There will not be any dead child commercials broadcast during Super Bowl 50. At least, there won’t be dead child commercials brought to you by Nationwide Insurance this year. Nationwide is taking the big game off. The company issued a brief statement early in the month in response to questions about its Super Bowl […]

    Why Google’s Not So Smart or Fast and Insurance Agents Aren’t Dead… Yet

    {February 3rd, 2016} by Susanne Sclafane

    Insurance agents aren’t dead yet, but even underwriters participating in the personal automobile insurance market may be looking for another line of work within the next two decades, industry observers said at a recent conference. “The most radical view of personal lines, given advances in digitization and advanced analytics, is that the need for people […]

    iPipeline Announces Appointment of Andrew Damico as New President – Key Role to Focus on iPipeline’s Global Expansion and Performance

    {February 3rd, 2016} by iPipeline®

    Exton, PA (February 3, 2016) – iPipeline® – a leading provider of cloud-based software solutions for the life insurance industry– today announced the appointment of Andrew Damico as President of iPipeline. Andrew brings 30 years of diversified business qualifications acquired in the software and banking industries and a proven history of building relationships, trust, and […]

    Penn Mutual sponsors U.S. Olympic rugby hopefuls, Pennsylvania native

    {February 3rd, 2016} by IFAwebnews Staff

    The Penn Mutual Life Insurance Company announced its support and sponsorship of two elite rugby athletes during their training and preparation for this year’s summer Olympic Games in Rio de Janeiro, Brazil. Horsham, Pa.-based Penn Mutual named Kristen Thomas and Madison Hughes as brand ambassadors while they train to be selected to the U.S. Olympic […]

    There’s a hard way and much easier way to sell life insurance

    {February 3rd, 2016} by Lew Nason RFC, LUTCF

    There is a hard way to get started in life insurance sales and achieve long-term success. But there’s also a much easier way. You will notice that I said much easier and not easy. If life insurance sales were easy, we wouldn’t have an 85 percent agent failure rate in the first year, with the […]

    The Women’s Market: Marcia A. Mantell

    {February 3rd, 2016} by Carolyn Ellis

      Marcia Mantell is the author of a What’s the Deal with Retirement Planning for Women, a how-to book that inspires and motivates women to be aggressive about retirement planning. From shoe shopping to learning the language of investments, Mantell speaks to women in no-nonsense yet compassionate terms. We talked with her about how financial […]

    5 retirement savings myths about Gen X and millennials

    {February 3rd, 2016} by Marlene Y. Satter

    Photo: Getty Myths about certain groups of workers—namely, GenXers and millennials—are impeding the understanding of employers about how those workers engage with their defined contribution plans, making the plans less effective. So says new research from State Street Global Advisors, which found “surprising similarities” between the two age groups—a demographic that SSGA has christened “Generation […]

    Momentum Stock in Focus: Principal Financial Group Inc

    {February 3rd, 2016} by Simon Holdsworth

    Principal Financial Group Inc (NYSE:PFG) is expected to report fourth quarter earnings after the close on Monday, February 1, with a conference call scheduled for 10:00 am EST next day. The company is a component of the S&P 500. Principal Financial Group, Inc. provides retirement, asset management, and insurance products and services. It operates through […]

    Iowa-Based Global Insurance Accelerator Names 2016 Class of Startups

    {February 1st, 2016} by GIA

    Global Insurance Accelerator (GIA), a Des Moines, Iowa-based global business accelerator focused on developing and growing innovative insurance-centric startups, has announced its 2016 portfolio. With a global pool of twice as many applicants compared to the previous year, the five standout teams selected to participate in the mentor-driven program represent the automotive, property and health […]

    How Annuities Fit in a Fiduciary World

    {February 1st, 2016} by N/A

    The DOL rule will transform how annuities are sold and used Now that the department of Labor (DOL) fiduciary rule has survived the budget process, virtually assuring its path to adoption in early 2016, it is time to give some thought as to what this rule will likely mean for the future design of annuity […]

    To boost life insurance sales, try this road-tested message

    {February 1st, 2016} by LifeHealthPro Editors

    A new LIMRA study using behavioral economics finds consumers are more likely to buy life insurance when people similar to themselves own coverage. In the study consumers were giveneight messages that challenged their biases toward life insurance ownership with one stating “most Americans do own life insurance, including people like you.” “This was the most […]

    A.M. Best Special Report: U.S. Life/Annuity Insurers Third Quarter 2015 Earnings Stall From Poor Equity Market Showing

    {February 1st, 2016} by Business Wire

    OLDWICK, N.J.–(BUSINESS WIRE)–U.S. life/annuity insurance companies’ third-quarter 2015 statutory accounting results softened considerably when compared with prior quarters as pre-tax net operating gains fell to $3.7 billion from $18.5 billion in the previous quarter. This is partially due to the impact of equity market volatility and weakening investment yield, according to a recent A.M. Bestspecial […]

    4Q Earnings Preview: Insurers Face Tough Times

    {February 1st, 2016} by Cyril Tuohy

    As the fourth-quarter earnings deadline nears, analysts say the insurance industry is in better shape than it was in 2008 to weather volatile markets and economic weakness. Reinsurance Group of America Inc., the global life and health reinsurer, kicks off fourth-quarter and full-year 2015 earnings after the market closes Thursday. Capital and liquidity are stronger […]

    AIG’s Sankaran says material value at risk in Icahn’s plan

    {February 1st, 2016} by SONALI BASAK

    (Bloomberg) — American International Group’s Sid Sankaran, who has been designated to be the insurer’s next chief financial officer, said that activist investor Carl Icahn’s proposal to break up the company would punish investors by jeopardizing tax assets and pressuring capital measures. “There are material amounts of shareholder value at risk in a separation of […]

    DOL fiduciary rule arrives at OMB

    {February 1st, 2016} by Mark Schoeff Jr.

    A Labor Department rule that would raise investment advice standards for retirement accounts took its last step toward finalization Thursday night. View the full story via InvestmentNews; registration required 

    5 Roth IRA myths you can’t afford to believe

    {February 1st, 2016} by Jeffrey Levine

    Roth IRAs are powerful retirement savings tools — if used correctly. Unfortunately, many advisors and their clients hold beliefs aboutRoth IRAs that are downright wrong. These misguided beliefs can lead to negative consequences, including passing up planning strategies that could save valuable tax dollars for clients during retirement. With that in mind, here are 5 […]

    The top 25 business jobs for 2016

    {February 1st, 2016} by Lynette Gil

    Our national unemployment rate is down to 5 percent, according to the jobs report released by the Bureau of Labor Statistics in December 2015, and several industries have continued to experience growth. Among these sectors, professional and business-related services, construction, health care and food services continued trending upward.  We used the data published in the latest U.S. […]

    DOL Sends Fiduciary Rule To OMB

    {February 1st, 2016} by John Hilton

    The Department of Labor sent its fiduciary rule to the Office of Management and Budget Thursday, signifying its intent to publish a rule before President Barack Obama leaves office. OMB can take up to 90 days to review the rule, during which time the contents remain under wraps. After the agency signs off, the DOL […]

    Foresters Financial Supports “Insure Your Love” Campaign

    {February 1st, 2016} by Foresters

    NEW YORK, Feb. 1, 2016 /PRNewswire/ – Foresters Financial Services, Inc. proudly supports “Insure Your Love”—a national life insurance awareness campaign held every February with love its central theme and to highlight the fact that nearly a third of U.S. households have no life insurance at all.* Now in its eighth year, the campaign is […]

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