Annuity Market News articles from January 2007

Annuity Market News archives from January 2007

Income Products Need Paradigm Shift'.
January 1, 2007... Although many insurance carriers, as well as trade groups like NAVA and LIMRA, are clearly committed to marketing retirement income products, the annuity industry in general is not responding fast enough to the income challenge, many insiders...

Income Market Has a Long Way To Go'.
January 1, 2007... If you think of the retirement income market as a championship football game, a new survey shows that the annuity industry is beginning to put on its shoulderpads and lace up its cleats. But the Diversified Services Group's "2006 Retirement...

Execs Share Outlook for 2007.
January 1, 2007... The economic crystal ball is always fuzzy. Stock prices follow a random walk and markets fluctuate, as J.P. Morgan famously put it. But insurers, living at the mercy of the unforeseen, have no choice but to analyze the future. Annuity...

At Deadline.(National Association of Securities Dealers amended rules for annuities)(AARP Financial in partnership with New York Life Insurance Co. develops 2 annuity products)(Chief financial officers survey - Annuity Sales to Rise in 2007)
January 1, 2007... NASD Re-Amends VA Suitability Rule The NASD has amended a controversial proposed rule that would add specific suitability rules for variable annuity sales, although the Securities and Exchange Commission has yet to rule on the proposal. ...

People Moves.(James T. Morris to become CEO of Pacific Life Insurance Co.)(New York Life Insurance Co. plans to hire Retirement Income Execs)(Ohio National Financial Services appointed Warren H. May )
January 1, 2007... Morris to Become Prez, CEO of Pacific Life The boards of directors of the parent companies of Pacific Life Insurance have selected James T. Morris as president and chief executive officer, effective April 2. He is currently chief operating...

IRS Killing Private Annuities.(Internal Revenue services' Internal Revenue Code)
January 1, 2007... The use of private annuities to shelter profits from capital gains may no longer be a viable option for affluent individuals. Instead, experts said, insurance agents, financial planners and registered representatives can use the installment...

Mac' is Back in Town: Bob MacDonald Leaves Retirement to Shake Up Retirement Income.(Bob MacDonald - Allianz Income Management Services )
January 1, 2007... Bob "Mac" MacDonald believes that the eventual winners in the income annuity market will be those who have "skin in the game." That's why the 63-year-old MacDonald, who recently emerged from his own retirement in the Florida Keys to launch...

Product Complexity Contributing to 1035 Exchanges.(Scott Hawkins-Hartford)(Interview)
January 1, 2007... Variable annuities have become increasingly complex in recent years, as carriers have stayed competitive by cooking up an alphabet soup of EEBs (earnings enhancement benefits), GMABs (guaranteed minimum accumulation benefits) and GMWBs...