Some new registered annuities are being developed by Symetra Life Insurance, according to IBR’s “Symetra to develop registered annuities products.” Kevin Knull is their new senior vice president of registered investments. He was hired to help Symetra expand their portfolio of annuities. Their first focus is the development of variable annuity products with lower costs. There is a demand for variable annuities that cost less because they don’t have the living benefit rider guarantees attached. Advisors and investors alike are looking to solve problems with their variable annuity products and Symetra believes that Knull is right person to do this problem solving.
Knull previously worked as the CEO of consulting firm The Knull Group. They helped insurance companies and investment groups improve their product and sales practices. Before that, Knull worked at The Hartford Financial Services Group for nearly a decade. His boss will be the executive vice president of the retirement division, Dan Guilbert. He says that Knull has a wealth of knowledge working with the variable annuity, as well as with advisors and representatives. After working to improve their variable annuity offerings, Knull will likely look into the fixed annuities offered by Symetra and see what changes can be made to better suit their advisors and investors.