Fixed annuity

Jamie Kosharek Joins Global Atlantic to Lead Independent Distribution

Retrieved on: 
Wednesday, November 16, 2022

Global Atlantic Financial Group (Global Atlantic) , a leading retirement and life insurance company, has announced that Jamie Kosharek has joined the company as Head of Independent Channel Distribution.

Key Points: 
  • Global Atlantic Financial Group (Global Atlantic) , a leading retirement and life insurance company, has announced that Jamie Kosharek has joined the company as Head of Independent Channel Distribution.
  • View the full release here: https://www.businesswire.com/news/home/20221116005129/en/
    Jamie Kosharek, Head of Independent Channel Distribution, Global Atlantic Financial Group (Photo: Business Wire)
    The Independent Channel represents a rapidly growing segment of the industry and a key part of Global Atlantics future growth opportunity, said Schalleur.
  • As Head of Independent Channel Distribution, Ms. Kosharek will be responsible for the strategy and team facilitating all independent distribution relationships, as well as internal and external sales coverage across the country.
  • Global Atlantic Financial Group (Global Atlantic) is the marketing name for The Global Atlantic Financial Group LLC and its subsidiaries, including Accordia Life and Annuity Company and Forethought Life Insurance Company.

Midwest Holding Announces Launch of S&P 500 ESG Index for the Fixed Annuity Space

Retrieved on: 
Wednesday, January 5, 2022

LINCOLN, Neb., Jan. 5, 2022 /PRNewswire/ -- Midwest Holding Inc. (NASDAQ: MDWT), a technology-driven, life and annuity platform,today announced that its subsidiary American Life & Security Corp has launched the industry's first ever Fixed Annuities based on the S&P 500 ESG Index.

Key Points: 
  • LINCOLN, Neb., Jan. 5, 2022 /PRNewswire/ -- Midwest Holding Inc. (NASDAQ: MDWT), a technology-driven, life and annuity platform,today announced that its subsidiary American Life & Security Corp has launched the industry's first ever Fixed Annuities based on the S&P 500 ESG Index.
  • "We are pleased to announce the addition of the S&P 500 ESG Index as a part of our American Select Fixed Indexed Annuity product suite.
  • The S&P 500 ESG Index is a broad-based, market-cap-weighted index designed to measure the performance of securities meeting sustainability criteria, while maintaining similar overall industry group weights as the S&P 500.
  • Except as required by law, Midwest does not undertake to update forward-looking statements contained in this release.

New American Equity Fixed Index Annuity Offers Paths to Protected Lifetime Income and Legacy Benefits

Retrieved on: 
Thursday, July 22, 2021

For the millions of Americans looking to supplement their retirement with a guaranteed lifelong income stream and ensure a legacy path for beneficiaries, American Equity Investment Life Insurance Company launches a new fixed index annuity the EstateShield.

Key Points: 
  • For the millions of Americans looking to supplement their retirement with a guaranteed lifelong income stream and ensure a legacy path for beneficiaries, American Equity Investment Life Insurance Company launches a new fixed index annuity the EstateShield.
  • Some call it a plan for their retirement, some call it their second or third act, we internally call it a clients plan for financial dignity, powered by American Equity, said American Equity Chief Executive Officer Anant Bhalla.
  • To strengthen a clients retirement income base, plus provide the opportunity for rising lifetime income payments and the potential for enhanced legacy benefits, the product has a Benefits Account Value (BAV), which is used to calculate lifetime income payments and/or the enhanced death benefit.
  • American Equity Investment Life Insurance Company is a full-service underwriter of fixed annuity products, with a primary emphasis on the sale of index annuities.

American National Announces Two New Indices and Strategies to ASIA Plus 7 & 10

Retrieved on: 
Thursday, July 1, 2021

GALVESTON, Texas, July 01, 2021 (GLOBE NEWSWIRE) -- American National is enhancing and expanding its industry leading Strategy Indexed Annuity PLUS flexible premium products.

Key Points: 
  • GALVESTON, Texas, July 01, 2021 (GLOBE NEWSWIRE) -- American National is enhancing and expanding its industry leading Strategy Indexed Annuity PLUS flexible premium products.
  • In addition to the current crediting strategies based on the S&P 500 index; ASIA PLUS 7 & 10 will now offer two new index crediting strategies.
  • American National Group, Inc. is the parent company of the American National companies, which include American National Insurance Company and its insurance affiliates.
  • American National Insurance Company, founded in 1905 and headquartered in Galveston, Texas, is licensed in all states except New York.

Ruark Consulting Releases 2021 Variable Annuity Study Results

Retrieved on: 
Friday, June 25, 2021

Ruark Consulting, LLC today released the results of its 2021 industry studies of variable annuity (VA) policyholder behavior, which include surrenders, income utilization and partial withdrawals, and annuitizations.

Key Points: 
  • Ruark Consulting, LLC today released the results of its 2021 industry studies of variable annuity (VA) policyholder behavior, which include surrenders, income utilization and partial withdrawals, and annuitizations.
  • Detailed study results, including company-level analytics, benchmarking, and customized behavioral assumption models calibrated to the study data, are available for purchase by participating companies.
  • Ruark Consulting, LLC ( www.ruark.co ), based in Simsbury, CT, is an actuarial consulting firm specializing in principles-based insurance data analytics and risk management.
  • Since 2007, Ruarks industry- and company-level experience studies of the variable annuity and fixed indexed annuity markets have served as the industry benchmarks.

New Survey Reveals How the Pandemic Has Impacted Trends in Retirement

Retrieved on: 
Wednesday, June 23, 2021

The Indexed Annuity Leadership Council (IALC) today announced the launch of a survey that examines the impact of the pandemic on trends in retirement.

Key Points: 
  • The Indexed Annuity Leadership Council (IALC) today announced the launch of a survey that examines the impact of the pandemic on trends in retirement.
  • The study found that almost a third (30%) of American workers said the pandemic delayed their plans for retirement.
  • Eighty-six percent of Americans who plan to retire say guaranteeing their income in retirement is important, and 42% of survey respondents said the pandemic made them more risk-averse.
  • The IALC survey sought to balance pandemic-related financial impacts, and compare how those effects shifted depending on how far out respondents were from retirement.

Best’s Market Segment Report: Individual Annuity Providers Still Challenged by Low Interest Rates

Retrieved on: 
Wednesday, June 16, 2021

The Bests Market Segment Report, Individual Annuity Providers Still Challenged by Low Interest Rates, states the low interest rate environment continues to limit the levers insurers can pull without worsening their company risk profiles.

Key Points: 
  • The Bests Market Segment Report, Individual Annuity Providers Still Challenged by Low Interest Rates, states the low interest rate environment continues to limit the levers insurers can pull without worsening their company risk profiles.
  • Variable annuities constitute the largest component of the individual annuity market, with $82.4 billion, or 56%, in NPW in 2020, despite declining by 3.6% from 2019.
  • As interest rates reached historic lows, many insurers started to deemphasize fixed annuity sales, reinsure FA blocks of business, and reprice products.
  • The negative market segment outlook is due to the persistent low interest rate environment, operating margin pressure and organic growth challenges.

New Bankers Life Annuity Product Offers Income and Flexibility During Retirement

Retrieved on: 
Thursday, May 13, 2021

The new product is a single-premium fixed indexed annuity with an enhanced benefit that helps consumers access their money for healthcare expenses in the event of a care-related need.\nGLIA Plus offers consumers the opportunity to accumulate tax-deferred savings for retirement and create a stable, flexible retirement income solution that can guarantee income payments for life through lifetime income withdrawals.

Key Points: 
  • The new product is a single-premium fixed indexed annuity with an enhanced benefit that helps consumers access their money for healthcare expenses in the event of a care-related need.\nGLIA Plus offers consumers the opportunity to accumulate tax-deferred savings for retirement and create a stable, flexible retirement income solution that can guarantee income payments for life through lifetime income withdrawals.
  • Bankers Life also offers various insurance and retirement solutions including Medicare Supplement insurance, life insurance, long-term care insurance and supplemental health insurance, as well as investment solutions offered through Bankers Life Securities, Inc. and Bankers Life Advisory Services, Inc.\nGLIA Plus is available in 49 states, excluding New York, through Bankers Life exclusive insurance agents.
  • To learn more about this and other products offered by Bankers Life, visit BankersLife.com .\nBankers Life focuses on the insurance needs of middle-income Americans who are near or in retirement.
  • There are approximately 5,000 exclusive agents across approximately 260 U.S. sales offices.To learn more, visit BankersLife.com .\nBankers Life is the marketing brand of various affiliated companies of CNO Financial Group including, Bankers Life and Casualty Company, Bankers Life Securities, Inc., and Bankers Life Advisory Services, Inc. Non-affiliated insurance products are offered through Bankers Life Securities General Agency, Inc., (dba BL General Insurance Agency, Inc., AK, AL, CA, NV, PA).\nSecurities and variable annuities offered through Bankers Life Securities, Inc.

Reliance Standard Agrees to Acquire Top-Tier New York Statutory Insurer

Retrieved on: 
Thursday, April 15, 2021

b'Reliance Standard Life Insurance Company (Reliance Standard), a member of the Tokio Marine Group, announced it has agreed to acquire Standard Security Life Insurance Company of New York (SSL), a subsidiary of Independence Holding Company (NYSE:IHC), subject to customary closing conditions including regulatory approvals.

Key Points: 
  • b'Reliance Standard Life Insurance Company (Reliance Standard), a member of the Tokio Marine Group, announced it has agreed to acquire Standard Security Life Insurance Company of New York (SSL), a subsidiary of Independence Holding Company (NYSE:IHC), subject to customary closing conditions including regulatory approvals.
  • Reliance Standard also operates in the fixed annuity market space, including indexed annuities.
  • Reliance Standard is rated A++ (Superior) by A.M. Best and A+ (Strong) by Standard & Poor\xe2\x80\x99s.\nFounded in 1957, Standard Security Life is a leading provider of New York DBL and statutory paid family leave (PFL) insurance and a member of the Independence Holding Company Group.
  • Reliance Standard was founded in 1907 in Chicago, IL and is rated A++ (Superior) by A.M. Best.\nReliance Standard and Matrix Absence Management are both members of the Tokio Marine Group.

JourneyGuide Announces Strategic Partnership with Great American Life Insurance Company®

Retrieved on: 
Friday, April 9, 2021

Furthermore, JourneyGuide can now model Great American Life's accumulation annuities, including the Index Frontier 5, Great American Life's flagship registered index-linked annuity.

Key Points: 
  • Furthermore, JourneyGuide can now model Great American Life's accumulation annuities, including the Index Frontier 5, Great American Life's flagship registered index-linked annuity.
  • "JourneyGuide is excited to partner with Great American Life, a highly rated and innovative carrier with decades of experience," said Gary Moorman, Head of Business Development & Sales at JourneyGuide.
  • Great American Life Insurance Company, member of Great American Insurance Group (GAIG), helps simplify the path to financial security through the sale of traditional fixed, fixed-indexed and registered index-linked annuities in the retail, broker-dealer, financial institutions and registered investment advisor markets.
  • Note: On January 27, 2021, AFG announced that it entered into a definitive agreement to sell its Annuity business, including Great American Life, to Massachusetts Mutual Life Insurance Company.