Annuity Market News articles from September 2004

Annuity Market News archives from September 2004

At Deadline.
September 1, 2004... New VA GAAP Standards Hardly Dent Bottom Line Recently adopted changes to generally accepted accounting principles (GAAP) have caused little change to life insurance company financial results, Moody's Investors Service reports. The...

SEC, Spitzer Bring First Annuity Charges.(Securities Exchange Commission)
September 1, 2004... The regulatory hammer has finally dropped on the insurance industry. The Securities and Exchange Commission and New York Attorney General Eliot Spitzer have settled their first market-timing case against variable annuity issuers, with fines and...

Insurers Face Own Anti-Timing Problems.(Market Timing Policy)
September 1, 2004... WASHINGTON - While the annuity industry remains hush-hush on the topic of the market-timing cases being brought by the Securities and Exchange Commission and the New York Attorney General, this silence does not indicate a lack of opinion....

1035s, Market Drive No-Load VA Sales.
September 1, 2004... Although no-load variable annuity sales are up, driven by the improved stock market and 1035 tax-free exchanges, insurers are concerned about new sales. John Wesley, product manager for TIAA-CREF, New York, said that in the first half of...

People Moves.
September 1, 2004... Dibbert Leads Prudential's Bank Distribution Channel Michael T. Dibbert has been appointed senior vice president and director of bank distribution for Prudential Financial. Dibbert reports to Matthew Schiffman, executive vice president of...

Variable Annuity Sales Figures Misleading.
September 1, 2004... Gross variable annuity sales can be a misleading measure of industry and individual company business growth because more than half of all VA sales are due to policy exchanges, warns Moody's Investors Service of New York. In a study released...

GORP': New Trail Mix for the Hike to Retirement.(Goal-Oriented Retirement Rlanning)
September 1, 2004... The path to retirement can be a long haul, so author David Shapiro recommends using GORP: goal-oriented retirement planning. The admittedly cutesy acronym does not diminish the gravity of Shapiro's topic, funding retirement for the millions of...

Top 10 Implications of Canary.(Brief Article)
September 1, 2004... Paul Fischer, a partner with Jorden Burt in Washington, presented a list of the top 10 implications of the New York Attorney General's case against Canary Capital Partners of Secaucus, N.J. The New York A.G. charged the hedge fund with abusive...