Annuity Market News articles from August 2005

Annuity Market News archives from August 2005

At Deadline.(Banc of America Investment Services Inc. signed memorandum of understanding with Massachusetts Securities Division )
August 1, 2005... Bank of America Agrees To Refund Annuity Holders Bank of America's brokerage unit became the first company to sign a memorandum of understanding with the Massachusetts Securities Division following the regulator's probe of annuity sales...

Suitability at the Fore at Regulatory Confab.(National Association for Variable Annuities)
August 1, 2005... WASHINGTON - If conference attendance rates are any indication, regulatory issues are only getting hotter. Even as registration for many other conferences has been flagging in recent years, the Regulatory Affairs and Compliance Conference,...

Conning: Longevity Points to Opportunities.(baby boom generation market)
August 1, 2005... If insurance companies want to capture more retirement market share, they must educate retiring Baby Boomers about longevity risk, says a report by Conning Research and Consulting. The potential for Boomers to outlive their money in...

Risk Management: You've Come a Long Way, Baby.
August 1, 2005... In the heyday of variable annuity sales, when the true value, and cost, of guarantees played a cool second to the snazzier selling point of tax deferral, risk management was a much more peripheral concern for insurers. Today, risk...

People Moves.(Kathleen Preston resigned from Travelers Life & Annuity Co., Vic Lumby appointed in Old Mutual Financial Network and Greg Jenner, Maurice Perkins appointed in American Council of Life Insurers )
August 1, 2005... Preston Leaves Travelers For St. Paul Travelers Kathleen Preston has left Travelers Life & Annuity for the post of executive vice president, field marketing at property and casualty carrier St. Paul Travelers. Preston reports to Jay...

Hedge Fund Opportunities Shrinking.
August 1, 2005... WASHINGTON - The very expansion of the hedge fund market is reducing its investing opportunities, and slowly forcing the most cunning hedge fund managers to look to the long term. "The more hedge funds there are, the fewer investing...

California Suitability Standards Bill Put on Hold.
August 1, 2005... A bill to impose new standards for selling annuities to seniors has been put on hold in California. The measure (SB 192), filed by Sen. Jack Scott (D-Altadena), has been approved by the state Senate and is now before the Assembly Insurance...

Best Compliance Practices for Launching New Products.
August 1, 2005... An NASD survey of investment and variable annuity manufacturers and distributors of third party products revealed best sales suitability practices by firms when launching new products. The survey of best practices was sent out as a notice to...

Product Development Dos'.(Brief Article)
August 1, 2005... Looking at the product development process at various carriers as part of a survey that came out as a Notice to Members in April, the NASD discovered a number of best practices that other companies can emulate to shore up their own procedures....