Headlines

The National Association of Insurance Commissioners, or NAIC, discussed how to respond to growing concerns regarding stranger-originated annuity transactions (STOA). The Life Insurance and Annuities Committee, a subgroup of NAIC, met to discuss the issue in the fall. A working group was created to address the issue. The creation of the group took place...
Read More »

MetLife (MET.N) posted a 22 percent operating profit on Thursday, but missed over all expectations due in part to its acquisition of a large share of AIG’s (AIG.N) Asian insurance business. The operating profit represented a $0.99 per share increase, which fell short of the $1.03 per share increase predicted by market analysts. MetLife,...
Read More »

Joseph A. Marvullo, 60, was recently sentenced to 5 years of probation after conviction for fraud relating to the sale of an annuity. Marvullo, a former insurance salesman, avoided a jail term from Washington County Judge Kelly McKeighan. Marvullo, of Queensbury, was accused of stealing $26,000 from a Fort Ann couple in 2005 after...
Read More »

American Financial Group, otherwise known as AFG, had third quarter earnings that were somewhat lower than they were on the previous year. This may have been the result of a difficulty in the comparison between the two periods, however. For the nine months that ended in September of 2009, the earnings were a new...
Read More »

Prudential has introduced its Income Choice Annuity, which increases incomes by 1.5%, just when the rates for traditional annuities have fallen. This new product provides a secure life-time minimum income, and those who invest in one will also be able to benefit from its future growth. This is applicable to those quotes issued after...
Read More »

A report by Ernst & Young concluded that withdrawal benefits for variable annuities continued to improve during the third quarter. The manager of Ernst & Young's Retirement Income Knowledge Bank, Gerry Murtagh, announced that annuity firms appeared to be offering somewhat better benefits, especially to those in their old age. A full report on...
Read More »

Aviva currently offers the highest position in terms of annuity rates. They hold the position this month despite the value having dropped by twenty pounds during the month of October. Currently, the level annuity rates sit at 5,970 pounds per year. The drop is especially large when compared to the rate in November of...
Read More »

The Jackson National Life Insurance Company enjoyed a boost in sales and deposits during the first nine months of 2010. The boost of 37% was primarily the result of an increase in sales of the variable annuity (VA) market. The 57% increase in annuity sales amounted to 10.5 billion dollars. There were more VA...
Read More »

The difference between the amount that men and women earn after they retire is large, and growing. Younger women are currently saving barely more than half as much as men. Two thirds of the people who receive pensions and are living in poverty are women. Women on average earn a pension of only 12,000...
Read More »

Premiums taken in by the life insurance industry rose by 23 percent as of September of 2010 in comparison to the same period during the year prior. The news was reported by the Life Insurance Council, which is the official representative organization of life insurers in the country. The reason for the increase in...
Read More »