Voya Financial selling its closed block variable annuity, fixed and fixed indexed annuity businesses
Athene part of a consortium of investors involved, and will take over the significant majority of Voya’s individual fixed and fixed indexed annuity policies in force with approximately $19 billion of account value.
Recent Indexed Annuities News
Study finds those who bought annuities designed for accumulation tend to be under 61, while buyers over age 62 tend to purchase annuities designed to create guaranteed income.
As total annuity sales drop 15% in 3Q compared to last year, IRI’s “State of the Industry” identifies and predicts sales trends impacted by uncertainty over the DOL Fiduciary Rule.
Quarterly U.S. annuity sales fell below the $50 billion mark for the first time in 15 years during the third quarter of 2017 according to LIMRA Secure Retirement Institute’s Third Quarter 2017 U.S. Retail Annuity Sales Survey, released on Nov. 29.
Famed indexed annuity pioneer – and leader of the fight against Rule 151A – named as this year’s recipient of the lifetime achievement award during recent NAFA Annuity Distribution Summit in San Diego.
While 2017 annuity sales totals are still tracking toward a decline, the Institute has revised its 2018 forecast and now predicts a 5% increase of overall annuity sales next year.
In the wake of the DOL Fiduciary Rule, the fee-based fixed indexed annuity movement continues to gain momentum with the introduction of new products this month from Nationwide and Symetra.
Comments - some due by July 21 - seek input on whether to delay the Jan. 1 full implementation date and suggestions for streamlining the Rule's major provisions.
There will be a “feeding frenzy” among financial institution independent/field marketing organizations (IMOs/FMOs) going after a pool of insurance-only agents as the industry prepares...
The insurance industry is cautiously proceeding as if the Fiduciary Rule will in fact begin implementation on April 10, but the incoming Trump Administration...