Life insurance

Empower Launches Comprehensive Suite of New Retirement Income Solutions

Retrieved on: 
Thursday, March 21, 2024
Seniors, Insurance, Finance, Asset Management, Banking, Professional Services, Consumer, Fintech, Retirement, Social Security, Social, Investment, Consultant, Legislation, Capital Group Companies, Life insurance

Empower today announced a comprehensive suite of new partnerships with asset management and insurance providers to offer a market-leading range of in-plan and out-of-plan guaranteed retirement income solutions for investors saving through workplace plans.

Key Points: 
  • Empower today announced a comprehensive suite of new partnerships with asset management and insurance providers to offer a market-leading range of in-plan and out-of-plan guaranteed retirement income solutions for investors saving through workplace plans.
  • “The purpose of any individual’s retirement plan is to create an income stream they can rely on when their working years are behind them,” said Empower President and Chief Operating Officer Rich Linton.
  • More than 80% of advisors and consultants believe a defined contribution (DC) plan should offer services supporting plan participants’ retirement income needs.1 Additionally, legislation — specifically the SECURE Act of 2019— includes provisions to facilitate the use of guaranteed income options in retirement plans.
  • In survey results, retirement plan participants express a range of concerns about income guarantees as they age.

First Trust Energy Infrastructure Fund Declares its Monthly Common Share Distribution of $0.10 Per Share for April

Retrieved on: 
Wednesday, March 20, 2024
Banking, Professional Services, Finance, Uncertainty, Hamas, New York Stock Exchange, Natural gas, FTP, Plan, Infection, EIP, ERISA, Risk, FTA, Trustee, Federal, AIB (NI), COVID-19, Terrorism, Policy, Security (finance), Judgement, Investment, Internal Revenue Code, Federal Reserve, MLP, Petroleum, FINRA, Life insurance

First Trust Energy Infrastructure Fund (the "Fund") (NYSE: FIF) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.10 per share payable on April 15, 2024, to shareholders of record as of April 2, 2024.

Key Points: 
  • First Trust Energy Infrastructure Fund (the "Fund") (NYSE: FIF) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.10 per share payable on April 15, 2024, to shareholders of record as of April 2, 2024.
  • Under the Plan, the Fund intends to continue to pay a recurring monthly distribution that reflects the distributable cash flow of the Fund.
  • This distribution will consist of net investment income earned by the Fund and return of capital and may also consist of net short-term realized capital gains.
  • The Fund seeks to achieve its investment objectives by investing primarily in securities of companies engaged in the energy infrastructure sector.

Mesa Royalty Trust Announces Trust Income for March 2024

Retrieved on: 
Tuesday, March 19, 2024
Energy, Other Energy, Oil, Gas, Form, San Juan Basin, Risk, Trustee, MTR, Life insurance

Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today the Trust income distribution for the month of March 2024.

Key Points: 
  • Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today the Trust income distribution for the month of March 2024.
  • Unitholders of record on March 29, 2024 will receive distributions amounting to $0.027776761 per unit, payable on April 30, 2024.
  • No income was received in March 2024 from any other working interest owner.
  • The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty.

Columbus McKinnon Announces Successful Completion of Term Loan B Repricing

Retrieved on: 
Tuesday, March 19, 2024
Supply Chain Management, Machinery, Machine Tools, Metalworking & Metallurgy, Electronic Commerce, Technology, Other Construction & Property, Commercial Building & Real Estate, Construction & Property, Retail, Packaging, Engineering, Building Systems, Manufacturing, Adjustment, CMCO, Growth, TLB, Life insurance

Columbus McKinnon Corporation (Nasdaq: CMCO) (“Columbus McKinnon” or the “Company”), today announced that it successfully completed the repricing of its $497.6 million senior secured Term Loan B (“TLB”).

Key Points: 
  • Columbus McKinnon Corporation (Nasdaq: CMCO) (“Columbus McKinnon” or the “Company”), today announced that it successfully completed the repricing of its $497.6 million senior secured Term Loan B (“TLB”).
  • The Company estimates the TLB repricing will produce annualized cash interest expense savings of approximately $2.5 million.
  • "We are pleased to complete the repricing of our Term Loan B.
  • The repricing of our Term Loan B will result in lower interest expense in fiscal year 2025 and be accretive to earnings per share.”
    No other material changes were made to the terms and conditions of the TLB.

Allianz Life Launches New Accumulation Annuity

Retrieved on: 
Tuesday, March 19, 2024
Banking, Professional Services, Insurance, Finance, Retirement, FMO, FIA, Index, Head, Growth, Allianz Life, Allianz, Fear, Life insurance

Allianz Life Insurance Company of North America ( Allianz Life ) announced today that its newest accumulation-focused product, Allianz Accumulation Advantage+TM Annuity, is now available.

Key Points: 
  • Allianz Life Insurance Company of North America ( Allianz Life ) announced today that its newest accumulation-focused product, Allianz Accumulation Advantage+TM Annuity, is now available.
  • Allianz Accumulation Advantage+TM is a fixed index annuity that combines powerful accumulation potential with a premium bonusi, signature Allianz innovations and flexible design.
  • Allianz has also recently added a new FIA with a shorter, seven-year withdrawal charge period, Allianz Accumulation Advantage 7TM Annuity, to its suite of products.
  • Full accumulation value is available to the Allianz Accumulation Advantage+TM contract owner after 10 years.

First Trust Energy Infrastructure Fund Issues Notice Regarding March 2024 Distribution

Retrieved on: 
Friday, March 15, 2024
Asset Management, Professional Services, Finance, Uncertainty, Hamas, FTP, Infection, EIP, ERISA, Risk, Notice, FTA, COVID-19, Federal, AIB (NI), Terrorism, Judgement, Investment, Internal Revenue Code, Federal Reserve, MLP, Fund, Calendar, FINRA, Net asset value, Life insurance

A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income."

Key Points: 
  • A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income."
  • The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes.
  • First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor.
  • FTP is also a distributor of mutual fund shares and exchange-traded fund creation units.

Duff & Phelps Utility and Infrastructure Fund Inc. Announces Dividend and Discloses Sources of Distribution Section 19(a) Notice

Retrieved on: 
Friday, March 15, 2024
Professional Services, Finance, Fund, Calendar, Life insurance

The Fund will issue a separate 19(a) notice at the time of each quarterly distribution using the most current financial information available.

Key Points: 
  • The Fund will issue a separate 19(a) notice at the time of each quarterly distribution using the most current financial information available.
  • You should not draw any conclusions about the Fund’s investment performance from the amount of these distributions or from the terms of the Fund’s managed distribution plan.
  • The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital.
  • The amounts and sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes.

KKR Income Opportunities Fund Declares Monthly Distributions of $0.1215 Per Share

Retrieved on: 
Thursday, March 14, 2024
Banking, Asset Management, Professional Services, Finance, Risk, Sale, NAV, KKR, Calendar, Life insurance

The distribution rate should not be considered the yield or total return on an investment in the Fund.

Key Points: 
  • The distribution rate should not be considered the yield or total return on an investment in the Fund.
  • The amounts and sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes.
  • The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
  • KKR Income Opportunities Fund is a diversified, closed-end management investment company managed by KKR Credit Advisors (US) LLC (“KKR Credit”), an indirect subsidiary of KKR & Co. Inc. (“KKR”).

Legal & General Retirement America and RGA Partner to Complete $700 Million Pension Risk Transfer Transaction with FirstEnergy

Retrieved on: 
Thursday, March 14, 2024
Utilities, Insurance, Human Resources, Finance, Energy, Asset Management, Consulting, Professional Services, K&L Gates, Caesars Entertainment, Risk management, Legal & General, PRT, RGA, FirstEnergy, Senior, Retirement, Reinsurance Group of America, Life insurance

Legal & General Retirement America (LGRA), a division of Banner Life Insurance Company, and Reinsurance Group of America, Incorporated (NYSE:RGA) announced today they completed a pension risk transfer (PRT) transaction with FirstEnergy , one of the nation’s largest investor-owned electric utilities, for approximately $700 million.

Key Points: 
  • Legal & General Retirement America (LGRA), a division of Banner Life Insurance Company, and Reinsurance Group of America, Incorporated (NYSE:RGA) announced today they completed a pension risk transfer (PRT) transaction with FirstEnergy , one of the nation’s largest investor-owned electric utilities, for approximately $700 million.
  • The retiree lift-out was executed in December and covers approximately 2,000 retirees – representing about 8% of the company’s total pension liability associated with its former generation subsidiaries.
  • LGRA is lead administrator and will be fully responsible for the service and administration of all participants transferred as part of the transaction.
  • Aon and K&L Gates advised FirstEnergy on this transaction.

Tilly's, Inc. Reports Fiscal 2023 Fourth Quarter Operating Results

Retrieved on: 
Thursday, March 14, 2024
Fashion, Footwear, Online Retail, Retail, Security, Technology, GAAP, Income tax, Interim, BDO, Operating cost, Software, Foot, Public expenditure, Environment, Life insurance

Tilly’s, Inc. (NYSE: TLYS, the "Company") today announced financial results for the fourth quarter of fiscal 2023 ended February 3, 2024.

Key Points: 
  • Tilly’s, Inc. (NYSE: TLYS, the "Company") today announced financial results for the fourth quarter of fiscal 2023 ended February 3, 2024.
  • The following comparisons refer to the Company's operating results for the fourth quarter of fiscal 2023 (14 weeks) ended February 3, 2024 versus the fourth quarter of fiscal 2022 (13 weeks) ended January 28, 2023.
  • The Company ended the fourth quarter with 248 total stores compared to 249 total stores at the end of the fourth quarter last year.
  • The following comparisons refer to the Company's operating results for fiscal 2023 (53 weeks) ended February 3, 2024 versus fiscal 2022 (52 weeks) ended January 28, 2023.