- 11,277
Increasing rates has fueled an avalanche of new business that they weren't ready for. That's what my IMO told me about a month ago.
What is happening to Athene
- Thread starter AnnuityGuy63
- Start date
- 6,458
Caveat, not an agent.
Please note: this is a bump of a 1 year old thread.
Oct 2023: Is there still a significant new order processing time backlog at Athene?
Please note: this is a bump of a 1 year old thread.
Oct 2023: Is there still a significant new order processing time backlog at Athene?
There hasn't been for a long time but there is about to be again with their 5yr rates over 6%.
Get your cases in now.
No the backlog is gone. You can also submit requirement via web upload which cuts off time.
- 4,575
Just locked in 6.75% for 3 years within my 401k account with Principal 3 yr rate & 6.15 5 year rate. Blown away by that. Sure, local banks are offering 6% plus for 5 months CDs but not for existing clients likely low renewal rate
Thats the thing.
If the market is historically 8-10 then once you get over 6 guaranteed, it's hard not to lock it up as long as possible.
- 4,575
Yup, risk return.
Plus, add in being in mid 50s & current environment "feels" like the market charts from mid 60s to mid 1980s where Dow was mostly flat for 18ish years
Bad news is lots of PC & Life carriers can make 8-10% on their reserves & surplus at a time when actually writing & growing cant get thise returns, leading to lots of carriers pulling back on writings (more in PC lines)
SBLI/Prosperity just went to 6.2% on their 5 year. Going to be a rollercoaster ride for the next few months.
