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Led by New York Life Products, Fixed Annuity Sales Rise 54% in Third Quarter

November 30, 2008 - About $13.5 billion of the sales were in book value products, $6.9 billion in indexed, $4.2 billion in market value adjusted (MVA) and $2.4 billion in fixed immediate annuities.

Securian Launches Its First SPIA

November 30, 2008 - IncomeToday! allows a one-time lump-sum withdrawal for any purpose during the life of the contract, in addition to the standard features of a single premium immediate annuity.

New York Life Appoints Retirement Income Chief

November 30, 2008 - Chris Blunt will run Retirement Income Security (RIS), a new business unit that consolidates income annuities, investment annuities, long-term care insurance, and mutual funds.

Insurers Queue Up For Bailout Money

November 23, 2008 - The Phoenix Companies could become the latest insurer to plead for federal bailout money. The Hartford, Conn.-based insurer announced plans to buy a savings association or S&L.

At Age 85, AXA’s VA Owners Can Swap GMIBs for GLWBs

November 23, 2008 - “Previously at age 85, our clients had to choose between exercising their GMIB or discontinuing the guarantee,” said Claude Methot, AXA Equitable's chief product officer.

Tell Us What You Think About the ‘Crisis”

November 16, 2008 - By December 1, tell us what you believe either should or will happen in our industry in 2009.

SEC Reviewing 4,000 Comments on Indexed Annuity Rule, Official Says

November 16, 2008 - Traditional fixed annuities and so-called synthetic annuities will not be affected by proposed Rule 151, a senior SEC official told attendees of a legal conference.

At Blue Frog Solutions, Transition from Levine to Smith Is Completed

November 16, 2008 - Dan Smith became interim CEO in July, after Blue Frog founder and former CEO Brad Levine sold a controlling interest to a private equity firm.

Don’t Panic About AIG Annuities, Pennsylvania Regulators Say

November 9, 2008 - Regulators are monitoring the suitability of annuity sales for exchange activity that exploits the recent turmoil in financial markets.

Nationwide Loses $346.4 Million In Third Quarter

November 9, 2008 - Net outflows fell 50% on lower withdrawals in the private sector and fixed annuities, partly offset by lower variable annuity deposits. Retirement plan profits fell 7.2% but life insurance profits rose 11%.

Protective Offers L-Share Variable Annuity

November 9, 2008 - The new contract has a combined mortality and expense risk and administrative charge of 1.50% and a three-year surrender period.

The Hartford Will Cut Jobs, Adjust VA Pricing

November 2, 2008 - After a $2.63 billion loss, Hartford Financial Services Group will reduce its workforce and adjust the prices and terms of its VAs.

Variable Annuities Are Risky Business—Fitch Ratings

October 25, 2008 - In a new report, “2008 Financial Turmoil Increases Variable Annuity Risk,” Fitch questions insurer optimism about their hedging programs.

Led By Fixed Annuities, Jackson National Posts Record Sales

October 25, 2008 - A 165% increase in sales of traditional fixed annuities helped Jackson National garner $11.2 billion in sales and deposits through September 30.

Sun Life Unveils Enhanced Living Benefits

October 25, 2008 - Income ON Demand and Retirement Escalator living benefits were upgraded to the Income ON Demand II Suite and Retirement Income Escalator II.