Annuity

AM Best Affirms Credit Ratings of Equitable Holdings, Inc. and Its Life Subsidiaries

Wednesday, January 13, 2021 - 10:04pm

Additionally, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICR of bbb of Equitable Financial Life and Annuity Company (Equitable Financial Life & Annuity) (Englewood, CO).

Key Points: 
  • Additionally, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICR of bbb of Equitable Financial Life and Annuity Company (Equitable Financial Life & Annuity) (Englewood, CO).
  • AM Best has also affirmed the Long-Term ICR of bbb+ of Equitable Holdings, Inc. (headquartered in New York, NY) and all of its Long-Term Issue Credit Ratings (Long-Term IR).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases .

Securian Financial Teams Up with BenefitEd to Offer Suite of Education Benefits to Workplace Retirement Plan Customers

Thursday, January 7, 2021 - 4:53pm

Securian Financial, through a collaboration with BenefitEd , is making a suite of education benefits available to its workplace retirement plan customers.

Key Points: 
  • Securian Financial, through a collaboration with BenefitEd , is making a suite of education benefits available to its workplace retirement plan customers.
  • Along with Employee Choicea program allowing employees to choose if their employer-matched funds go toward paying off their students loans, funding their retirement plan or boththe benefits are available to Securian Financial retirement plan customers at reduced pricing.
  • Securian Financial provides services to employer-sponsored retirement plans through group annuity products issued by Minnesota Life Insurance Company.
  • Securian Financial is the marketing name for Securian Financial Group, Inc. and affiliates.

LaSalle St. Announces Recruitment Of Independent Advisors With $1.5 Billion In Client Assets During 2020, Along With 100% Advisor Retention

Tuesday, January 5, 2021 - 6:39pm

2020 presented an array of challenges to both advisors and clients that none of us had previously encountered, from extreme market volatility to more extensive use of remote service models.

Key Points: 
  • 2020 presented an array of challenges to both advisors and clients that none of us had previously encountered, from extreme market volatility to more extensive use of remote service models.
  • LaSalle St. is a family of firms comprising LaSalle St. Securities, an independent broker-dealer; LaSalle St. Investment Advisors, a SEC-registered investment adviser; and LaSalle St. Insurance Services, a provider of annuity and insurance products.
  • It has a singular mission of supporting the growth and success of independent financial advisors across the country.
  • Founded in 1974 and based in Chicago, Illinois, LaSalle St. supports more than 300 financial advisors, has approximately $10 billion in total client assets and is registered in all 50 states.

Unqork and SE2 Expand Strategic Alliance

Tuesday, December 22, 2020 - 2:30pm

"SE2's partnership with Unqork provides insurers with a pre-built and fully integrated ecosystem, now with the added benefit of Unqork's no-code platform, to drive efficiencies and cost savings for insurers," said Mark Schultis, CEO, SE2.

Key Points: 
  • "SE2's partnership with Unqork provides insurers with a pre-built and fully integrated ecosystem, now with the added benefit of Unqork's no-code platform, to drive efficiencies and cost savings for insurers," said Mark Schultis, CEO, SE2.
  • "I'm excited to partner with Unqork and jointly accelerate the digitization efforts of the insurance and retirement solutions industry."
  • Together, SE2 and Unqork have created industry-specific digital capabilities required for the end-to-end transformation of life and annuity insurance carriers.
  • Unqork's no-code platform is uniquely positioned to address this need in the market," said Rabih Ramadi, Head of Financial Services, Unqork.

Oceanview Reinsurance Assumes $1 Billion in Fixed Annuity Reserves

Saturday, December 19, 2020 - 12:19am

Oceanview Reinsurance Ltd. (Oceanview Re), a Bermuda Class E insurance company, today announced that it has entered into a transaction to assume approximately $1 billion of fixed annuity reserves from an A++ rated U.S. life insurance company which represents legacy fixed annuity business.

Key Points: 
  • Oceanview Reinsurance Ltd. (Oceanview Re), a Bermuda Class E insurance company, today announced that it has entered into a transaction to assume approximately $1 billion of fixed annuity reserves from an A++ rated U.S. life insurance company which represents legacy fixed annuity business.
  • Oceanview Reinsurance Ltd. is a Class E Bermuda reinsurer based in Hamilton, Bermuda rated A- by A.M. Best and is a wholly owned subsidiary of Oceanview Holdings Ltd. Oceanview Re provides customized reinsurance solutions for fixed annuities and other asset intensive life insurance liabilities.
  • View source version on businesswire.com: https://www.businesswire.com/news/home/20201218005740/en/

Pacific Life Foundation Donates Additional $500,000 in Support of Covid-19 Relief Efforts in Local Communities

Tuesday, November 17, 2020 - 3:00pm

The Pacific Life Foundation (the Foundation) has announced grants totaling $500,000 in support of Covid-19 relief efforts in several local communities where Pacific Life employees live and work.

Key Points: 
  • The Pacific Life Foundation (the Foundation) has announced grants totaling $500,000 in support of Covid-19 relief efforts in several local communities where Pacific Life employees live and work.
  • The funds are part of a $1.75 million commitment from the Foundation toward Covid-19 relief efforts for 2020.
  • Together with Pacific Life, the Foundation has contributed more than $123 million to community and national nonprofit organizations.
  • Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company.

Reliance Standard Earns “A++” Upgrade From AM Best

Wednesday, November 11, 2020 - 3:25pm

Reliance Standard Life Insurance Company (Reliance Standard), a leading insurance carrier specializing in employee benefits solutions and both fixed and fixed index annuity products, has earned an A++ (Superior) Financial Strength Rating from AM Best, upgraded from A+ (Superior).

Key Points: 
  • Reliance Standard Life Insurance Company (Reliance Standard), a leading insurance carrier specializing in employee benefits solutions and both fixed and fixed index annuity products, has earned an A++ (Superior) Financial Strength Rating from AM Best, upgraded from A+ (Superior).
  • Reliance Standard Life Insurance Company (Reliance Standard) is Reliance Standard is a solutions-based company with a long history of innovation and service in workforce employee benefits, asset accumulation and protection.
  • Reliance Standard was founded in 1907 in Chicago, IL, as the Central Standard Life Insurance Company.
  • In New York, insurance products and services are offered by First Reliance Standard Life Insurance Company, Home Office, New York, NY.

LifeDX Platform Launches into Life Insurance Industry Through Collaboration with Pacific Life

Tuesday, November 3, 2020 - 4:00pm

SALT LAKE CITY, Nov. 3, 2020 /PRNewswire/ --It was announced today the LifeDX platform from IXN launched with Pacific Life as the first life insurance carrier onboard.

Key Points: 
  • SALT LAKE CITY, Nov. 3, 2020 /PRNewswire/ --It was announced today the LifeDX platform from IXN launched with Pacific Life as the first life insurance carrier onboard.
  • LifeDX is a multi-carrier platform that provides an application programming interface (API) solution for quotes andapplication submissions for the life insurance industry.
  • LifeDX, from IXN, is the life insurance industry's API-centric data exchange platform that is helping make the process of distributing and processing life insurance simple and easy.
  • Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company.

Eagle Life Parent Company American Equity Ranks in J.D. Power’s Top 3 for Customer Satisfaction

Friday, October 23, 2020 - 12:15pm

As a subsidiary of American Equity Investment Life Insurance Company, Eagle Life Insurance Company is proud to share that American Equity earned a third-place distinction for customer satisfaction in the J.D.

Key Points: 
  • As a subsidiary of American Equity Investment Life Insurance Company, Eagle Life Insurance Company is proud to share that American Equity earned a third-place distinction for customer satisfaction in the J.D.
  • Powers first Overall Customer Satisfaction Index Ranking in the annuity provider category for the U.S. Life Insurance Study.
  • American Equity was founded on the idea of great people providing great service, said American Equity chief executive officer Anant Bhalla.
  • The company is a wholly-owned subsidiary of American Equity Investment Life Insurance Company, headquartered in West Des Moines, Iowa.

Brookfield Announces Strategic Partnership with American Equity Life

Sunday, October 18, 2020 - 8:00pm

BROOKFIELD, NEWS, Oct. 18, 2020 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (Brookfield) (NYSE: BAM, TSX: BAM.A) today announced a strategic partnership with American Equity Investment Life Holding Company (AEL) (NYSE: AEL), a leading retirement planning annuity provider.

Key Points: 
  • BROOKFIELD, NEWS, Oct. 18, 2020 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (Brookfield) (NYSE: BAM, TSX: BAM.A) today announced a strategic partnership with American Equity Investment Life Holding Company (AEL) (NYSE: AEL), a leading retirement planning annuity provider.
  • Brookfield will receive one seat on American Equitys Board of Directors following the initial equity investment.
  • American Equity Investment Life Holding Company, through its wholly-owned subsidiaries, is a leading issuer of fixed index annuities through independent agents, banks and broker-dealers.
  • American Equity Investment Life Holding Company, a New York Stock Exchange listed company (NYSE: AEL), is headquartered in West Des Moines, Iowa.