Annuities Industry

News

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

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

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

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

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

“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.

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Articles

AIG Failure Fuels Regulatory Turf War

The Federal Reserve's bailout of American International Group has revived the debate about whether the federal government should regulate insurance companies.

Orange You Glad To Be ING?

ING has had better luck in this year's tough variable annuity market than any of its rivals, with sales of $4.03 billion in Q1 and $7.95 billion in Q2.

Morgan Stanley Ready for Electronic VA Sales

A Merrill Lynch rival, Morgan Stanley, has also been aggressive in putting variable annuities on its advisers' workstations.

The STP Pilot: Cleared for Takeoff

In a roundtable discussion sponsored by the DTCC, six executives with stakes in the STP initiative gathered to evaluate its progress.

NAVA Bids Farewell to Mark Mackey: Colleagues and Board Members Share Their Best Wishes

As its first full-time president and CEO, Mackey guided NAVA from a small start-up to a significant force in the variable annuity and retirement income industries.

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