Annuity Market News articles from May 2003

Annuity Market News archives from May 2003

Annuities Instrumental to Retirement Income: Sell Lifetime Payout, Not Just Tax Benefits: TIAA-CREF Academic.(John Ameriks addresses Retirement Income Conference sponsored by the National Association for Variable Annuities)
May 1, 2003... HILTON HEAD, S.C. Annuities, especially variable annuities, play a key role in optimum retirement income planning, according to John Ameriks, senior research fellow at the TIAA-CREF Institute of New York. Ameriks addressed retirement...

At Deadline.(includes news briefs from Jackson National Life Insurance, Conseco, Cigna Reinsurance)
May 1, 2003... Cigna Ceases its Battle Against DB Reinsurance Cigna Reinsurance has made its third, and presumably last, attempt to invalidate a reinsurance contract covering variable annuity death benefits, according to various industry sources. ...

Profitable Products in Unprofitable Times.
May 1, 2003... BALTIMORE All carriers face the same core challenges right now: how to make annuity products work when interest rates are so low and volatility in the equity markets is so high. While fixed annuity sales have been booming in the past several...

Annuitization Made as Simple as 1, 2, 3.
May 1, 2003... HILTON HEAD, S.C. "How do we explain longevity insurance to your mother?" asked Moshe Milevsky here at the Retirement Income conference sponsored by the National Association for Variable Annuities in Reston, Va. Milevsky, a finance...

Travelers Plays it on Safe Side of Risk.
May 1, 2003... Despite fairly vigorous competition, particularly in the area of variable annuity living and death benefits, some carriers have kept a low profile. Travelers Life & Annuity, part of the Citigroup franchise since 1998, is one such company. ...

Index Annuity Sales Surge 80% to $11.7B in 2002.
May 1, 2003... Buoyed by uncertainty in the equity markets, index annuity sales surged to $11.7 billion in 2002, an 80% leap over the previous year's figures, according to The Advantage Group, an index annuity research and consulting firm in St. Louis. ...

Phoenix Taps ING For Director of Operations.(Brief Article)
May 1, 2003... The Phoenix Group has hired Sue Ann Collins as executive vice president of life and annuity products and operations. Collins comes from ING Group in Amsterdam, where she was general manager and group actuary. Collins replaces Simon Tan,...

David Moore's Role Expands at Ameritas Life.(Brief Article)
May 1, 2003... Kenneth C. Louis, chairman and CEO at Ameritas Life Insurance, has retired. David C. Moore, president and COO, has assumed both positions. Louis had the top spot since October of 2001, having joined the company as senior vice president of...

Promotions at SunLife.(Brief Article)
May 1, 2003... SunLife Financial has made a series of promotions and job changes. Jack Donnelly, formerly vice president of investment products and services, is now vice president of finance and actuarial in the company's retirement products and services...

Info-One Hires Sales Exec.(Brief Article)
May 1, 2003... Info-One has hired William Creamer as senior executive of major accounts. Creamer is responsible for developing sales for the VARDS platform and has a long history of sales with banks. "Bill brings a wealth of proven international and...

Rando Signs on at J-P as Director of Marketing.(Brief Article)
May 1, 2003... Jefferson Pilot Financial has hired Carol Rando as vice president of marketing and distribution operations. Rando most recently comes from Travelers Life & Annuity, where she had been COO of life distribution. Rando is now responsible for...

James L. Fox Now Chief Of Bisys Fund Services.(Brief Article)
May 1, 2003... Bisys Fund Services has given James L. Fox the nod as its new president. Fox will oversee Bisys' U.S. and European outsourcing services business that supports mutual funds, variable annuities and separately managed accounts. Fox will be...

Gaining Market Share in Banks.
May 1, 2003... By Andy Ross, Director of Sales & Marketing, OAS Software Corp. Insurance companies looking to expand annuity distribution through banks must begin by first understanding banks' needs and then tailoring a servicing program to address those...