Annuity Market News articles from March 2005

Annuity Market News archives from March 2005

At Deadline.
March 1, 2005... MetLife to Buy Travelers From Citigroup for $11.5B MetLife has agreed to buy Citigroup's Travelers Life & Annuity unit and most of the international insurance business for $11.5 billion in stock and cash, subject to closing adjustments. The...

Asset Allocation in VAs Causes Turmoil.(variable annuities)
March 1, 2005... Although annuity carriers would like to offer asset allocation programs to better manage both their own and investors' risk, they are largely precluded from doing so unless they offer such a program through a registered investment advisor (RIA)...

Qualified VA Sales Outpace Retail Sales.(variable annuities)
March 1, 2005... Variable annuities sold in the qualified market topped 60% in 2004, up from 40% in 2000, according to VARDS. And the trend is expected to continue as Baby Boomers retire. Insurers say retirees with large 401(k) accounts accumulated over...

Marsh Pays $850M for Ripping Off Customers: Offers Mea Culpa for Bid-Rigging, Kickbacks.(Marsh and McLennan Companies Inc.)
March 1, 2005... Marsh & McLennan, the nation's largest insurance broker, last week agreed to an $850 million settlement with New York Attorney General Eliot Spitzer for conspiring to rig insurance bids and steer business to preferred insurers in exchange for...

People Moves.(appointments)
March 1, 2005... Sorum to Lead Marketing At Thrivent Financial Thrivent Financial for Lutherans has named Nikki Sorum senior vice president of marketing and investment products. Formerly senior vice president of business development, Sorum has also been...

VAs Expected to Move to Unbundled, Simplified Fees.(variable annuity)
March 1, 2005... Variable annuity compensation is changing. Currently, B shares, which typically pay the broker a 6% upfront commission and 25 basis-point trail, represent about half of all variable annuity sales. But in the wake of new state and federal...

Feeling the Love: Good Relationships Drive Revenue.
March 1, 2005... ORLANDO, FLA. - If you're looking to boost your business, maybe you just need to get that loving feeling. The value of positive relationships at all levels of an organization emerged as a common theme at the 2005 Broker/Dealer Conference...

Ready to Roll? Using VAs for IRA Rollovers.(individual retirement account)(variable annuity)
March 1, 2005... Senior Vice President, Annuity Distribution and Sales, The Phoenix Companies Last year, millions of Americans experienced a job change, whether it was due to layoffs, career advancement or simply retirement. On average, workers change jobs...

Suitable Sales, Lifetime Income Seen on Annuity Horizon.(Interview)
March 1, 2005... At a time when carriers are anxious to better understand how to forge ahead with new annuity products and strategies, VARDS/Greenwald Strategy Service has been delving into key issues that affect the industry. The joint venture, formed in 2003,...

New Analyzer Superior to Monte Carlo.(retirement probability analyzer)
March 1, 2005... Monte Carlo simulations aren't fading into oblivion yet, but a new analytical approach is likely to downsize their importance, especially when it comes to annuities. The Retirement Probability Analyzer, which uses the analytical method, has...