Annuity Market News articles from May 2002

Annuity Market News archives from May 2002

At Deadline.(Brief Article)
May 1, 2002... SEC Adopts Single VL Registration Form The Securities and Exchange Commission on April 11 adopted Form N-6, a new registration form for variable life insurance that replaces two separate forms that carriers had to submit to the regulator....

Uncertain Markets Call for Stable Products: Execs Expect New Emphasis on Long-Term Results.(Brief Article)
May 1, 2002... ORLANDO Uncertainty and risk are two subjects that insurance companies should be fairly familiar with. However, even carriers have behaved as if the giddiness induced by the bull market would never fade into a regrettable hangover. "We...

VL Riders Counter Estate Tax Confusion.(Brief Article)
May 1, 2002... Congress cast a dark cloud over the variable life and variable universal life insurance industry last June when it passed a tax act that left estate planners in a tizzy. And the industry has begun groping for ways to calm the unease gripping...

AIM Merges Sales Forces to Sell New VA.(Brief Article)
May 1, 2002... Glenbrook Life and Annuity Co. of Northbrook, Ill., has launched a variable annuity series for AIM Distributors of Houston, Texas. Called the AIM Lifetime America Variable Annuity Series, it offers 18 of AIM's funds in three different share...

Are Banks a Viable Channel for VL?(Brief Article)
May 1, 2002... The Cinderella story for variable life insurance has not yet materialized, and marketers are looking in every corner to raise the roof on sales including banks. Although investors develop strong relationships with their banks and credit...

NAVA Readies Product Profile for Launch.(Brief Article)
May 1, 2002... The technology committee's first project is ready for prime time. The committee of the Reston, Va.-based trade group has created a standardized set of product parameters to create smoother and more efficient communications between carriers and...

ACLI Appoints New Head.(Brief Article)
May 1, 2002... The American Council of Life Insurers (ACLI) has chosen its new president and CEO. Oklahoma Governor Frank Keating will assume the position next January. Keating will replace South Carolina Governor Carroll Campbell, Jr., who stepped down late...

Sequoia Hires MetLife Vet.(Brief Article)
May 1, 2002... Sequoia System International, a training provider, has hired Ken DiFrancesca as SVP. DiFrancesca most recently comes from MetLife Investors Group, where he served as SVP and national sales manager for the bank channel. At Sequoia,...

MetLife Adds Wirehouse Channel, Taps Skandia.(Brief Article)
May 1, 2002... MetLife Investors Group has added wirehouses to its distribution network, shifting one executive and replacing him with a new hire. The firm recently signed a distribution deal with Merrill Lynch. In response, MetLife has added a position to...

DTCC Taps Pru for Sales VP.(Brief Article)
May 1, 2002... The Depository Trust & Clearing Corp. (DTCC) has hired John Ziambras as VP of sales. Ziambras is responsible for managing and expanding sales in the broker-dealer, bank, and insurance carrier channels. "Insurance Services at DTCC is poised...

Highland Capital Promotes Wesson.(Brief Article)
May 1, 2002... Highland Capital Holding Corp. has promoted Mark Wesson to the position of VP of institutional marketing. Highland Capital operates a network of financial services firms that it has gathered through acquisitions. Wesson had previously been a...

Smarketing: Where Sales and Marketing Meet Technology.(Brief Article)
May 1, 2002... I know that I'm not the only one out there watching annuity sales these days. While the equity market freefall and commensurate variable annuity sales slump have seemingly been arrested, we can hardly be happy with a state of equilibrium...

New GE Variable Annuity Offers a "Retirement Answer".(Brief Article)
May 1, 2002... GE Financial of Richmond, Va., recently launched its newest variable annuity with an ambitious name, "GE Retirement Answer." GE has designed the product as a personally funded pension, asking investors, "How much additional income will you...

The Technology Behind GE's Marketing.(Brief Article)
May 1, 2002... GE Financial has spent millions over the past two years developing GE Retirement Answer, from market research, to feature design, to regulatory issues. However, one of the most critical pieces of the GE Retirement Answer puzzle has been...

Brokers Look to Wholesalers for Education, Personal Touch.(Brief Article)
May 1, 2002... What do brokers want from wholesalers? At the Financial Planning Association's Broker-Dealer Conference in Los Angeles, two Los Angeles-area reps answered the question in a session moderated by Karen Autorino, a former executive with TIAA-CREF...

Brokers Not Interested in Annuity Bells and Whistles.(Brief Article)
May 1, 2002... What do brokers and their clients look for in an annuity? At the National Association for Variable Annuities marketing conference, held in Rancho Mirage, Calif., in February, a panel of brokers provided some insight on this age-old question....

Familiarity With Annuitization Sparks Adviser Interest.(Brief Article)(Statistical Data Included)
May 1, 2002... Some financial planners can't say a good thing about annuities. They prefer to use mutual funds to form the basis of a financial plan. An annuity, whether variable or fixed, would be close to the bottom of their recommended investment list. ...