Annuity Market News articles from September 2005

Annuity Market News archives from September 2005

At Deadline.(merger between OneAmerica Financial Partners and Golden Rule Insurance)(Brief Article)
September 1, 2005... OneAmerica Buys Division Of Golden Rule Insurance In an indemnity reinsurance deal, OneAmerica Financial Partners' affiliate, State Life Insurance, is buying Golden Rule Insurance's financial services division, which includes the life,...

At Deadline.(variable annuities)
September 1, 2005... Citizens Admits Misdeeds, Agrees to Refund Seniors In a deal that overshadows a recent settlement between the Massachusetts Securities Division and Bank of America, CCO Investment Services, a broker/dealer of Citizens Bank, has agreed to...

SEC, NASD Stir Equity Index Annuity Pot: Carriers, Sellers in Quandry.(Securities and Exchange Commission, National Association of Securities Dealers)
September 1, 2005... Equity index annuities (EIAs) have become the center of a regulatory whirlwind, but perhaps the only thing that is clear is that the turbulence has made the waters even murkier. The Securities and Exchange Commission decided to reopen its...

Hartford Sales Slip: Venison, Anyone?
September 1, 2005... Is hunting season on for the stag? The heftier competitors in the variable annuity space have their sights tightly pinned on The Hartford Financial Services Group, and recent news indicates that the firm's annuity business is starting to limp....

VA Patent Skirmishes in the Making?(variable annuity )
September 1, 2005... Insurance executives can expect some serious skirmishes among their firms, as the variable annuity industry rushes to patent policy benefits. More insurers are using patents to protect and market products. In addition to enhancing sales, a...

People Moves.(appointments)
September 1, 2005... Numerous Changes at AXA: Shepherdson Returns as EVP Jamie Shepherdson has returned to AXA Financial as executive vice president, to lead AXA Distributors, the wholesale organization he helped found in the late 1990s. He will also join the...

Principal Debuts Guide On Immediate Annuitization.(Brief Article)
September 1, 2005... Principal Financial Group has put together a guide on group immediate annuities for plan sponsors. Even though almost two-thirds of employees turn to employers for planning advice at retirement, only 37% of plan sponsors offer such guidance,...

Investors Shying Away From Do It Yourself'.(Brief Article)
September 1, 2005... Investors are increasingly recognizing the need for professional advice and comprehensive financial planning. Half of GenX investors, 46% of Baby Boomers and 45% of Matures believed they needed "the help of professionals," according to the most...

Immediate Annuities Hit Suitability Sales Issue.
September 1, 2005... Immediate annuity sales suitability could be the next ticking time bomb for insurance companies and broker/dealers. The problem arises if someone goes into a nursing home and exhausts all his or her money. The individual must apply for...

Details of the SEC Inquiry Into EIAs.(Securities and Exchange Commission)(equity index annuities )(Brief Article)
September 1, 2005... The Securities and Exchange Commission has requested information about equity index annuities from prominent manufacturers of EIAs. Although the agency looked at the industry before issuing its 1997 concept release, the agency acknowledges that...

Wirehouses to Take Hit in Independent Advice Push.
September 1, 2005... Wirehouses are losing customers, assets and, according to some analysts, their brokers as affluent investors increasingly turn to independent channels for advice. Ultra-wealthy investors are using registered investment advisors-including...