Home » Company News

Company News

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.

Moody’s Adjusts Prudential's Outlook to Negative

November 30, 2008 - The insurer's outlook could move to stable if investment losses diminish after the third quarter and the firm sustains healthy capital levels, the ratings agency said.

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.

DTCC Offers New Licensing & Appointments Tool

November 30, 2008 - LNA Access allows distributors to manage appointments in one application directly online. This tool almost entirely removes the need for manual intervention by the carrier.

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.

Boomers’ Golden Years Don’t Glitter As Brightly

November 23, 2008 - Rather than looking forward to globe-trotting or golf, pre-retirees worldwide now worry about meeting daily expenses during retirement, a new survey by The Hartford shows.

Genworth Renames Its Reverse Mortgage Unit

November 23, 2008 - Liberty Reverse Mortgage will be renamed Genworth Financial Home Equity, completing the integration of one of the nation’s leading reverse mortgage companies into a leading insurer.

Envestnet Offers Enhanced Wealth Reporting Tools

November 23, 2008 - 'The wealth manager is now equipped to effectively manage family office investments through a single, unified platform,” said Andrew Rose, senior vice president for Envestnet.

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.

Genworth Suspends Dividend After Third-Quarter Loss

November 16, 2008 - Moody's downgraded Genworth's commercial debt rating on November 10th and lowered the rating on its insurance units to 'A' from 'AA'.

DFA Capital and Teradata Launch Risk Management Software

November 16, 2008 - The ADVISE Enterprise Risk Intelligence software allows risk managers and actuaries to analyze thousands of risk scenarios.

Hartford to Lower Estimate of Capital Position

November 9, 2008 - The drop in the S&P 500 in October has forced Hartford Financial Services Group, Inc., to adjust its projected year-end capital margin.

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%.